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No Topic Yet - Research Paper Example

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Andersen and Poulfelt (2014) explain that one of the best business strategies is developing an efficient marketing policy that can help business organizations to achieve growth in their areas of operation. This is because without an effective marketing plan, then the business…
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Download file to see previous pages Bowerman, Connell and Orris (2004) explains that to effectively develop a marketing plan, there is a need of the marketers of an organization to collect data that is able to depict the preferences of customers regarding the products of the company. It is this type of information that Nokia used to correct its weaknesses in the marketing strategy, Nokia began collecting data that highlighted the kind of mobile communication gadgets that consumers preferred. This paper gives a detailed analysis of how Nokia used this information to transform its business operations.
Nokia Corporation is a telecommunications company that was formed in the year 1967, mainly because of a merger of three companies based in Finland. After entering the telecommunications business environment, Nokia was able to quickly develop itself as an innovative company that produced highly technological products, especially mobile handsets. In the 1980s, Nokia was able to develop a long term expansion strategy by acquiring French, Finnish as well as German electronic business organizations. These acquisitions were able to strengthen the position of the company in the field of consumer and telecommunication electronics.
Approximately 80% of the revenue earned by the company emanates from its mobile business operations (Matsuo, 2013). This is despite the huge competition, and the current downward trend that is experienced in the mobile telephone market. Millar, Millar and Choi (2010) further explains that Nokia controls about one third of the mobile market all over the world. However, during the later years of 2000, the dominance of Nokia in the mobile phone industry began to diminish.
This is because of the introduction of smart phone products from companies such as Apples, Samsung and Google was able to take the company’s market share. For instance, the Android operating system of Google, and the iPhone of Apples proved ...Download file to see next pagesRead More
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