Marketing Analysis of Nokia Company

Marketing Analysis of Nokia Company Name Course Institution Date Marketing Analysis of Nokia Company Introduction Marketing is a vital component of a firm or organization in reaching a specific target market in order to attain set sales and profitability. Marketing entails a broad scope of activities and ideas hence focusing on one definition may be a difficult task. However, from various definitions proposed by different scholars a universally applicable definition may be obtained. A universally accepted definition clings on the fact that marketing is majorly concerned with a firm’s products and its customers within a given target market (Kurtz, MacKenzie & Snow, 2010). Marketing refers to all the functions and processes meant to create, communicate, as well as delivery high quality value in form of products to consumers whilst ensuring relationship between consumers and involved firm is maintained in order to have required market share. All companies within the global market engage in marketing activities enabling them have required profitability and sales. Nokia Company is one such firm and this paper attempts an analysis of its marketing analysis. The paper provides a brief synopsis of Nokia and gives a discussion of its major marketing strategies. Brief Synopsis of Nokia Company Nokia is regarded as the world’s leading firm in telecommunications with the differentiated products and services that it offers to the global market. Nokia was started in Finland at around 1865 as a wood pulp mill by Fredrick Idestam Knut. Due to resource requirements such as hydroelectric power and water, the firm was moved to Nokia town along the River Nokianvirta, which provided these two resources in addition to cheap transport for the bulky woods. In 1967 a merger between Finnish Rubber Works, Nokia Wood Mills, and Finnish Cable Works led to the formation of Nokia Corporation. From the Finnish Cable Works there was electronics division and this gave an opportunity and a vista into the current telecommunication company (Bunduchi, 2007). During the 1967 merger, the electronics division was separated from the other three and given the mandate of promoting telecommunications not only within Nokia town but to the whole global economy. Today Nokia Company is one of the leading providers of telecommunication products and services. Mission and Vision According to Kurtz, MacKenzie and Snow (2010), mission and vision of firms are statements that enable the firm in attaining some marketing objectives. Nokia Company’s mission and vision statements have been very useful in ensuring that the firm develops marketing plans and strategies that conform to them (Bunduchi, 2007). This means that other than providing the overall direction to a firm, mission and vision statements have been able to give Nokia Company direction regarding marketing. Nokia’s mission, “in a world where everyone can be connected, we take very human approach to technology”, provides a basis to the firm is ensuring that any marketing plan or strategies developed take the human approach hence feeling the consumers first. On a different perspective, the vision, “our vision is a world where everyone can be connected (Kumar, 2001). Our vision is to ensure that 5 billion people are always connected at any given point and to achieve 100 fold more network traffic” provides a direction on coming up with products that will connect people (GRIN Verlag, 2008). Brand Personality and the Marketing Mix Nokia’s logo has very conspicuous concepts on brand personality and the firm focuses on building customer, relationship, and trust. As explained above marketing entails actions and processes towards customer relationship, after all customers are the focal point in any marketing plan or strategies. Moreover, Nokia has the tradition and culture of building friendship and trust and this has brought the firm this far. On the marketing mix, Nokia like any other firm focuses on product, price, place, and promotion. Its products are differentiated and of high quality. There is large number of sets of phones in each series hence a wide variety that meets different needs of consumers. Nokia products are of various designs such as flips, slides, and normal structures each having specific and varied features with brand name on them. Such products are well packaged (GRIN Verlag, 2008). On the idea of prices, Nokia’s different products attract varied prices hence meeting demands of specific segments of market. Through televisions, signboards, bill boards, radio, and newspaper, Nokia is able to carry out its marketing promotional services (GRIN Verlag, 2008). Moreover, they have other methods through which marketing is done such as brochures, posters, dummies, and other display stands. Nokia also applies personal selling in marketing its products and services. The last marketing mix, place entails the distribution channel the firm uses to ensure tha...