Marketing Plan for Nokia C Series - Case Study Example

007” Marketing Assignment on Nokia C Series Marketing & Entrepreneurship ”Write your name here “ 10/3/2011 Contents Executive Summary 3 Introduction 4 Purpose of the report 4 Product Overview 4 Situational Analysis 5 External Environmental Analysis 5 Competitor Analysis 7 Porters Competitive Analysis 7 SWOT Analysis 9 Market Analysis & Segmentation 10 Target Market & Segment 10 Market Research on Target Audience 11 Marketing Strategy 11 Marketing Mix 11 Positioning 12 Unique Selling Proposition 13 Marketing Strategy 13 Marketing Budget 14 Marketing Forecast 14 Conclusion 14 References 15 Executive Summary Nokia is in the mobile handset business and has grown and established its network over different places. The company has been able to spread its network over the world and has enabled itself to be one of the handset provider in the world. The report looks into the internal and external environmental analysis of Nokia C Series and looks to present the different areas they need to work on in the future. Identifying the market potential and the growing size of the population has enabled Nokia C Series to spread its wing. The report also looks into the customer analysis by finding out the customer base and areas they need to work so that they are able to provide quality service. The report finally dwells on the SWOT analysis which looks into the strengths and weakness of the company and then tries to present the areas they need to work upon to improve the performance of the company. The report thereby helps to identify the areas that Nokia C Series needs to work upon and the manner in which it will be able to grow its brand name and establish itself as a better service provider. Introduction Nokia leads in the mobile phone industry and has been able to maintain the sustainable advantage by ensuring quality products and timely services. The company has adopted the philosophy of being flexible which has ensured that they are able to change its services according to the requirements of a country and culture. This has helped Nokia to ensure that they provide different variety of phones for the customer to choose from which is evident from the launch of Nokia C Series which is a dual Sim card phone. Purpose of the Report To identify the internal analysis which will help to look into the marketing strategies adopted by Nokia C Series To identify the effects of external environment on the working of Nokia C Series To identify the customer and competitors which will help to identify the areas to be worked upon To arrive at a SWOT analysis highlighting areas which will help the restaurant to grow their business To conduct a marketing strategy for Nokia C Series so that better strategies for the future can be crafted. Product Overview Nokia C Series phone is one of the variant of mobile phone launched by Nokia which has dual sim along with different features available on most phones. The company has ensured that the dual feature helps customers at the same time ensured music and other features like surfing which the customers are on a look out for thereby ensuring that the phone meets most of the customer requirements. Situational Analysis The situational analysis helps to identify the internal strengths and areas where Nokia C Series is working upon. Working upon those areas will help to ensure better delivery of services and satisfaction of customer desires. External Environmental Analysis The PESTEL analysis of Nokia C Series will help to explain how these factors have being included in the marketing strategies. It will also throw light on the effectiveness of the marketing concepts and theories that has helped Nokia. The analysis is Political The marketing and service strategy of Nokia C Series gets affected by the political conditions prevalent in different countries where it is operation. Stability of the government has a role as changing government makes it difficult to implement policies which makes it difficult for the differentiator to function Changing tax nature also has a role as rising taxes makes it difficult to cope with the incremental expense Economic The strategy also gets affected by the economic condition prevalent throughout in the following “Slowdown in an economy” (Mullins, 2009) like the recent global recession has affected the sales to fall. The growth also hampered and strategies rendered useless due to barriers of entry into the different economies. Rise in operating cost and inflation further took a tool as consumers preferred other cheaper mobile phones. Social Nokia C Series strategies also get affected due to the social culture. This makes the company use different marketing concepts and theories in different countries like “Change in the buying habit of consumer” (Mullins, 2009) has increased the people purchasing latest handsets as they want life to be fast Change in generation as Y generation prefers latest technology (Mullins, 2009) has brought a change in the way Nokia used to function Technological The change in technology has enabled Nokia to bring about a change in marketing theories used previously and now as The changes in the manner services are rendered have gone a rapid change (Mullins, 2009) thereby making more people use it. This has also changed the buyer behaviour towards it Internet has helped them in a big way as it has ensured all the functions can be carried over the handset. Environmental The changes in environment has led to Nokia change the concepts it was using before as The changes in climate due to global warming have increased the role of Nokia towards the society by ensuring that pollution level falls. (Mullins, 2009) This has made the concepts and marketing theories to undergo change and look more into the social responsibility aspect Legal This also brought about a change in which Virgin Blue Airlines performed as it changed the concepts like Workers threatening to go on strike as being paid poorly (Mullins, 2004) is making Nokia look for alternatives to ensure equality for all. Nokia by ensuring sufficient safety facilities for users of the smart phones have ensured every mechanism to take care of it. Competitor Analysis Nokia faces competition from many companies who have developed mobile phone which are similar to the dual sim phone launched by Nokia. Some of their competitors are Samsung, LG, Siemens and many others who have developed dual sim phone but still the level of competition is low as Nokia has been able to ensure quality in comparison to others. (Mobilewhack, 2007) Porter Competitive Analysis Analyzing the Porter Five Force Model will help to understand the manner in which it has brought about changes in the decision making process of Nokia. This will help to draw inferences in the manner Nokia was able to develop itself. This thereby will provide emphasis on factors which are critical for the success of Nokia (Wilson & Gilligan, 2005). The analysis of the Porter Five Force Analysis is as follows Rivalry within an industry The competition level within the dual mobile sim phone is low as there are few players who have phones which are dual sim and support as many function as Nokia C Series (SCRIBD, 2011). The rivalry within the industry is bound to grow due to global and local conditions which will make it difficult to sustain competition. Bargaining Power of Suppliers The suppliers have a high bargaining power because this forms a major part of the input cost and the concentration of supplier is giving a headache. (Porter 5 Forces, 2010) To reduce this Nokia has worked on backward integration of the supplier. (SCRIBD, 2011) This will ensure that they have a relative supply and don’t lack. Bargaining power of Customers The customers have a mixed bargaining power. Due to less differentiation and backward integration possible customers switch easily (Porter 5 Forces, 2010). Nokia C Series on this front to reduce has ensured that the mobile provided by them have all the facilities and has helped to distinguish from the other mobile phones available in the market (SCRIBD, 2011). Threat of Substitutes The threat of substitutes is high. This has made it tough for Nokia as customer have an option of using cheaper handsets which are compatible for dual sim but less features. Comparing Nokia C Series with other phones the threat is low at present because of the varied features available in it. Threat of Potential Entrants There is competition here. There are many businesses working on similar models (SCRIBD, 2011). Still the new entrants are few. The high cost involved is a reason. SWOT Analysis The analysis of SWOT will help to identify how Nokia C Series based on its strengths and weakness was able to use the different marketing concepts and the result it yielded for the company. The SWOT is as follows Strengths Nokia has a “strong brand name due to the number of years the company has been operating”. (Dylan, 2007) Nokia have many products aiming at different customers according to their wants Nokia has “a strong presence which has ensured that the products are readily available”. (Dylan, 2007) Large market and increasing customer base due to population growth Huge market penetration and market share Weakness Fewer advertisements being made by the company (Adam, 2009) The turnover rate for employees is high (Adam, 2009) Competition from competitors like Samsung, LG in relation to price is dwindling profits (Adam, 2009) Opportunities Developing new products “which improves there product range” (Dylan, 2007) and gives them a scope to grow Innovating and coming with new supplies techniques and moving into new markets Expand in new markets Develop stores which display all their products and are totally Nokia oriented (Adam, 2009) Threats New entrants entering the telecom industry Heavy investment in technology and advertisement by other mobile phone manufacturers (Adam, 2009) Market Analysis & Segmentation Market Analysis & Segmentation will help to understand the various areas where the company is looking to forecast on so that the sales of the company increase. Target Market & Segment Nokia C Series has identified a target market for itself based on the manner in wants to pursue its future objectives. The target market for Nokia C Series falls in the age bracket 14 to 50. The target market is based on people who are fond of technology and want to ensure that they use the latest gadgets which simplify life. (Nokia, 2011) The target customer can be further segregated as follows Young People: Nokia C Series looks to tap students and young people who are fond of technology and wishes to upgrade their phone to use the latest features and technology on phone as they can use dual sim for different purpose and ensure low calling rates Business Community: Nokia C Series looks to attract the business people so that they can use the features like Microsoft, email and other necessary features which help to improve business. (Nokia, 2011) along with usage of dual sim for different purposes Internet User: Nokia C Series has developed the phone using the latest technology which helps internet users to surf the internet quickly. This has further strengthened by the development and use of 4G which makes using the internet easy and enjoyable. Market Research on Target Audience The target audience of Nokia C Series has been decided after careful examination of the different usage the people use their mobile phones to. The company has ensured that the mobile phone has most features which have allowed the company to develop a handset which serves various purpose and ensures that the company is able to bank on it. Marketing Strategy Understanding the marketing strategy of Nokia C Series will help the marketers to use the different tools which help towards the success of the company. The following is the marketing strategy of Nokia C Series Marketing Mix Nokia C Series while launching a dual sim phone which is more technologically advanced have ensured that they have a customer base in the younger generation by having the following marketing mix Product The dual phone by Nokia has the latest technology and its adaptability with different applications has improved its importance. It allows the user to operate multiple sim from the same hand set and ensures that the customer is able to save on the cost of a second mobile handset Price Nokia C Series have ensured that the product is priced in the medium range so that all section of the customer can be tapped. This will help to attract people of all generation and ensure the success of mobile phone. Place Nokia C Series has ensured its availability all places thereby ensuring a smooth supply chain so that customer willing to purchase it are able to do so easily. Promotion Nokia C Series has looked towards promoting the handset through television, internet, newspaper and other forms of media so that it attracts maximum attention and make people purchase the phone. Positioning The target market for Nokia C Series helps to understand the positioning statement being followed by the company. The positioning statement for Nokia C Series can be better understood by the perceptual map which will help to identify the positioning statement proposed by the company. The above chart shows the positioning for Nokia C Series Unique Selling Proposition Nokia C Series by providing dual sim on the same phone has distinguished itself from the other players. This in addition to the features like video conferencing, mobiles, internet surfing and other facilities has ensured that the phone is distinguished. The company has banked on the unique proposition of providing the same features as found on other phones along with dual sim are a distinguishing factor for the Nokia C Series. Marketing Strategy Nokia C Series to improve its market image is looking towards marketing its stores by demonstrating the fun people visiting the chain have. To ensure an effective marketing strategy Nokia C Series look towards having in store promotions so that the mobile hone features can be demonstrated easily (Bristow and Frankwick, 1994). Nokia C Series also look towards marketing its stores through paper, hoardings and distribution of pamphlets (Bristow and Frankwick, 1994). Nokia C Series has also looked towards marketing its stores and improve its image through television, radio, billboards, newspaper, hoardings, and public relations, personal selling, direct mail and internet (Justin, 2008). Having a mix of the above ways has ensured that Nokia C Series is able to increase its market reach and expand in other markets. Marketing Budgets Nokia C Series has identified for itself a marketing budget and looks towards ensuring that they are able to sell the required number of handsets so that they are able to benefit from the cost associated with it. Forecast & Estimates Nokia C Series looks towards selling thousand of handsets as the product matches the requirements of different section of the customer which will ensure that the company is able to ensure smooth transformation of the amount spent on marketing activities towards the profitability of the organization Conclusion Nokia has been able to grow and improve its brand image. The above mentioned point even highlights the same and shows the manner in which the company is looking towards changing itself with the changing culture. It also supports that the fact that the company has been innovative continuously and brought the changes which will help Nokia C Series to ensure better product and service References Adam, T. (2009). Nokia C Series SWOT Analysis. Marketing Strategies. B & T Today Bristow, D. and Frankwick, G. (1994). Product manager influences tactics in marketing strategy development and implementation. Journal of Strategic Marketing, Volume 2, Issue 3 Nokia. (2011). The Nokia C Series target market. Retrieved on October 3, 2011 from http://uk.answers.yahoo.com/question/index?qid=2005200717AAPbVRt Dylan, W. (2007). SWOT Analysis of Nokia. Journal of Strategic Marketing, 2 (3), 23-27 Justin, A. (2008). Mobile Industry. Service Sector Management, Business Week Mullins, K. (2009). Critically examine the main drivers for Nokia growth. Free Press. New York. Mobilewhack. (2007). Top ten list of Nokia Competitors. Retrieved October 3, 2011 from http://www.mobilewhack.com/top-ten-list-of-iphone-competitors/ Porter 5 Forces. (2010). Porter 5 Forces. Retrieved on October 3, 2011 from Read More