Nokia is one of the leading electronic and telecommunication companies in the world today. The success of Nokia is attributable to the high quality of the products and services it provides. However, the company faces stiff competition from its main rivals such as Apple, Samsung, Techno, LG, and Sony Erickson. The only way for Nokia to remain competitive by introducing new innovative products in the market and relying on The success of this tablet, however, would depend on the efficacy of the company’s established marketing strategy.a marketing plan that is capable of luring customers to its products. Actually, Nokia expects to bring the latest Nokia Lumia 2020 tablet to the industry. This marketing strategy requires an overview of the existing situation, clients and rivals that could have an effect on the product’s success after launch. The strategy often analyzes the power, vulnerabilities, prospects, and dangers. Furthermore, the marketing strategy often analyzes the macro-environmental variables as well as the Nokia product marketing blend.
In a very dynamic environment, Nokia runs. For the few clients open, the market has many players who compete against each other. Any business in the industry aims to increase the level of services offered to the consumer by leveraging the new technologies in order to draw consumers. The market is rigid to the degree that months scarcely pass without the launch of a new strategy aimed at recruiting additional clients from established or new players (GRIN Verlag, 2012). Four of the industry’s major Nokia rivals include Apple, Samsung, LG, Techno, and Sony Erickson.
This promotional campaign addresses all sectors of the community. The product will be open to anybody who is in search of the new tablet, including students and business people. Moreover, we plan to supply tablets that are accustomed to the demands of consumers. We strongly recognize that the interests of adolescents can be very different from those of adults or business people. As such, we plan to launch tablets that fulfill the specifications of all future industry buyers. So far, the Nokia Lumia 2020 Tablet of the business has all the functionalities used to fulfill the needs of future customers of the company. Many of the features of this tablet include being just 8 inches and operating on the Snapdragon 800. The tablet is also equipped with a 1080p resolution monitor, which makes it the best tablet on the market (Pratap, 2013). The tablet also has additional functionality, including a large PPI monitor, and comes with support for the stylus. The business assumes that these attributes can fulfill consumer expectations and help attract tremendous demand.
Nokia operates in a rather competitive climate, as previously stated. The industry has many competitors, most of whom have a brand that is very powerful. Nokia’s big market rivals currently include Samsung, Apple, LG, Techno, and Sony Erickson (Pratap, 2013). As such, Nokia must come up with a marketing strategy to retain a strategic edge over its competition that will help draw more consumers to its goods. Moreover, it must guarantee the materials are pleasing and of high quality.
SWOT analysis stands for strengths, weaknesses, opportunities, and threats.
Nokia has a range of assets as a well-established company around the globe that has rendered it a brand of preference for many customers across the world. Firstly, in the smartphone sector, Nokia controls a large market share. Second, one of the strongest science, architecture, and innovation teams in the business is (GRIN Verlag, 2012). This has made it easier for the business to remain creative and deliver goods of good quality that perform well in the sector. In fact, the quality of the phones is one of the key reasons why Nokia phones sell well in the market. The company enjoys a global relationship with all major mobile phone companies globally at the same time. For instance, the recent cooperation between Nokia and software-giant Microsoft acts as a plus to Nokia in its effort to win additional market share (Fox, 2013). In addition, Nokia ranks the fifth most valuable brand in the world. About every household in the U.S. today has a Nokia brand. Further Nokia has a strong management team that that ensures that ensures the realization of the goals of the company.
Like many other companies in the world, Nokia also has certain weaknesses that require improvement. To begin with, Nokia has lost a significant ground in the development of Smartphone and tablets to companies such as Samsung and Apple (Davis, 2013). Evidence has shown that when business loses their customer basis, they end up lagging behind in the technological race or lose their reliability as a firm, as well. Secondly, Nokia is likely to lag behind due to its bureaucratic management style (Davis, 2013). Thirdly, Nokia has lost its credibility as a good and healthy employer, as demonstrated during its retrenchment effort. For instance, Nokia was adversely affected when Jo Harlow lay off hundreds of its engineers in the U.K. as part of its strategy to discontinue the Symbian operating system. The company has also begun incurring huge losses, which might affect its operations in the near future.
There has been a growing demand for tablets in recent years. GRIN Verlag (2012) observed that the demand for tablets, especially in the developing countries has been massive. As such, Nokia intends to explore the developing countries such as China, which offers a great opportunity. To increase its sales volume, Nokia will also consider exploring Africa, which offers a great market for its Nokia Lumia 2020 Tablet.
Nokia faces the threat of stiff competition from major companies such as Apple, Samsung, Techno, LG, and Sony Erickson. In addition, poor management style based on bureaucracy is also threatening the survival of Nokia in the near future.
Macro Environmental Analysis
The macro economic analysis commonly known as PEST analysis includes political, economic, sociological, technological, environmental, and legal factors that affect Nokia.
The political factors that affect Nokia operation include legal issues and government regulation. These factors define the formal and informal rules that govern how a firm operates. These include tax policy, political stability of the country, trade restrictions, employment laws, and environmental regulation (Applegate and Johnsen, 2007). The Political environment of China where Nokia targets with its new Nokia Lumia 2020 Tablet is very conducive for doing business. China is one of the most peaceful and democratic country in the world today. This favors conducting business. In addition, China has minimal entry and trade restrictions. This will make it easy for Nokia to venture in the market without difficulties.
Economic factors affect consumer’s purchasing power and the company’s cost of capital. As such, Nokia must consider the factors before venturing in the market. Some of the macro-economic factors that need to be taken into consideration in a given country or market include economic growth, the inflation rate, the employment rate and exchange rates (Aaker, 2004). China is currently one of the fastest growing economies in the world today. In fact, it is the second largest economy in terms of purchasing parity and GDP after the U.S. It also has a high number of people who are employed. This implies that China has a large number of people with a greater purchasing power. As such, China offers a great market for Nokia Lumia 2020 Tablet.
The socio-cultural environment also affects greatly the performance of an organization in a given market. Sociological factors include the cultural and demographic aspects of the external environment. The socio-cultural factors affect the needs of customers and the size of a market (Applegate and Johnsen, 2007). Some of the social factors that need consideration in a given market include age distribution, rate of population growth, career attitudes, and safety issues. China is the second populated country in the world after India with over one billion people. This certainly makes the country a suitable market for the Nokia Lumia 2020 Tablet.
Technological factors are also another macro environmental factor that affects the operation of the company. Technological factors can reduce the operation of the company, lower barrier to entry and impact on the outsourcing decisions of a company (Applegate and Johnsen, 2007). China is one of the countries that have made tremendous strides in terms of technology. It has one of the most educated labor forces in the world today. In addition, the country has good network connectivity in the country that will promote the sale of Nokia Lumia 2020 Tablet.
The Nokia Lumia 2020 Tablet will be targeted at the students and business people. This is because the Nokia Lumia 2020 Tablet has features that make it suitable for students and business people. This includes fast internet connectivity, e-mailing services, mega pixel cameras among other exciting features.
The Chinese demographic that will be targeted by the Nokia Lumia 2020 Tablet are mainly those living in urban centers such as Beijing and Hong Kong plus other cities in the country. In addition, the product will also be sold in rural areas to those with an interest in the Nokia Lumia 2020 tablet.
The Product is one of the most fundamental elements of the marketing mix that must take into consideration when making a marketing plan (Kumar, 2011). The Nokia Lumia 2020 Tablet that Nokia intends to introduce in the market has exciting features that will enable it attract huge demand once it is launched. Any of the attributes of this 2020 Nokia Lumina tablet include being just 8 inches and operating on the Snapdragon 800. According to Pratap, the tablet has a 1080p resolution display, a PPI display and is fast in terms of performance (2013).
Price is the second element of the marketing mix that must be taken into consideration when making a marketing plan. Price in this case refers to the amount charged on a given product in the market (Tehrani, 2008). Nokia Lumia 2020 Tablet will sell for $250. This price is relatively cheaper than those of competitors are. We believe that this will help attract many customers
Getting the product and services to customers is very important undertaking. One of the main reasons of producing a product or service is to sell them to customers. As such, customers must be given products and services at the right place and time (Tehrani, 2008). According to Nokia’s marketing plans to distribute it’s the new Nokia Lumia 2020 Tablet to customers using vendors, suppliers, supermarkets, and retailers who will ensure that products are availed to customers near their places of residence. In some instances, Nokia will build tents outside offices, colleges, schools and in remote rural areas to distribute the products.
Promotion plays a critical role as far as customer satisfaction is concerned. Promotion in this case implies creating awareness of the existence of the product to customers (Tehrani, 2008). Promotion also involves effectively and efficiently communicating marketing strategy decisions. As such, Nokia will use a variety of promotional strategies to market its new the Nokia Lumia 2020 Tablet. The strategies will include TV ads, social media, road shows, Radio, and personal selling and sales representatives.
Nokia is one of the leading phones and tablets manufacturers in the world today. However, the company faces stiff competition from other major players in the industry. As such, to market its product well, it must develop a marketing plan that will enable it penetrate the market with its new product. This is achievable through the implementation of this marketing plan that has factored in all the threats, opportunities, risks, and customer needs.
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- Pratap, K. (2013). Nokia Lumia 1820 smartphone, Lumia 2020 tablet due at MWC 2014. Retrieved from http://gadgets.ndtv.com/mobiles/news/nokia-lumia-1820-smartphone-lumia-2020-tablet-due-at-mwc-2014-445066.
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