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Corporate and Marketing Strategy of Nokia Company - Assignment Example

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The author states that the best marketing strategy Nokia can adopt is to lower the prices and deliver feature-rich products at an affordable rate to the financially compromised consumer as people are on a cost-cutting spree in order to tide over the recession…
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Corporate and Marketing Strategy of Nokia Company
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Download file to see previous pages There are many competitors like Motorola, Ericsson, LG, Samsung, etc. but the Nokia brand still stands tall as it accounts for 37% of the total global mobile phone sales (Ewing, 2009). Therefore the main corporate strategy of Nokia is to maintain this status and even increase it further. However, the success of rival company Apple’s I-Phone has made a huge dent in Nokia’s sale of smartphones which offer the consumer the facility to undertake to multitask in a mini pc sort of framework. The first quarterly results of the company released on April 16 in 2009 show that sales fell 27% from the year-earlier quarter and the average selling price for the company’s portfolio of mobile phones, which is an indicator of consumer demand, fell from $ 94 million to $ 86 million at the year-end in 2008 (Ewing, 2009). However, this decline was countered by the increasing sales figures in the international market with China being the top consumer for Nokia handsets.
Nokia’s business portfolio is thus mainly focused on increasing the sales of its mobile phones and other innovative devices with which it aims to capture the future market and take away the market share from Apple and Blackberry brands. As a short-term measure, although the company suffered due to the lesser sales figures for its smartphones, the company launched Nokia 5800 Xpress Music and Nokia N97 models which had touchscreen functions and helped the company achieve impressive sales figures of 2.6 million units (Ewing, 2009). Nokia now nurtures the ambition of entering the lucrative market of netbooks and mobile banking through the launch of new products but still has a weak presence in this sector in the US as the I-Phone and RIM Blackberry are feature rich and hard to emulate. ...Download file to see next pagesRead More
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