Million Dollar Plan-Delhi Marketing Conclave-Case Solution
“Mark your market” is a marketing consultancy firm who’ve been recruiting freshers from various universities and colleges. Young students get to assist and experience in the use and practical applications of marketing at international platforms. Aakash is a newly employed fresher in “Mark your market”. He is currently been given to work on the marketing profile of “Nokia”
Nokia is a mobile phones giant started in 1865. They had been the masters of mobile phone markets across various nations till early 2000s but after thatthey started to lose out on their market share.SAMSUNG HAS SURPASSED Nokia in cellphone sales, effectively ending Nokia’s 14-year run as the world’s top handset maker. Nokia saw a drastic decline in their market due to their inability to adjust to the advanced market changes. These several changes included:
1. NOKIA MOVED TOO SLOWLY
Nokia was a pioneer in the smartphone market, literally introducing consumers to the smartphone with its initial Symbian Series 60 devices in 2002. For the next five years, Symbian phones had little trouble maintaining a leadership position in the smartphone pack.
But in 2007, Apple introduced its iPhone. With its full touchscreen and app-based operating system, the iPhone changed the very definition of what a smartphone should be.
Yet Nokia failed to respond to the iPhone and the shifting consumer demand that came with it. As the years passed, the Symbian platform aged, and that age really showed when compared to iOS and, later, Android. Simultaneously, the smartphone market exploded — more and more consumers opted for pocket-sized mini-computers instead of “feature” phones with tedious WAP browsers.
2. ANDROID PAID OFF (FOR SAMSUNG) AND WINDOWS PHONE HASN’T … YET (FOR NOKIA)
Not only was Samsung speedy, it also bet on multiple platforms, including Android and Windows Phone — and it even had its own homegrown OS, Bada, just in case none of the others worked out. But in the end, Android paid off. And it paid off handsomely.
“Samsung chose Android at the right time, and it benefited from the maturation of that platform,” Spektor said. “Because Samsung has been the dominant player in the Android space, they’ve been able to ride the coattails of that platform.”
Nokia, on the other hand, spent its time focusing on Symbian until the company’s recent partnership with Microsoft. But Nokia’s flagship Lumia Windows Phones haven’t paid off yet, as evidenced by Nokia’s Q1 earnings.
3. HURTING ON BOTH ENDS
Not only did Nokia move too slowly in the smartphone market, it didn’t anticipate competition in the lower end of the market, either. Other manufacturers like HTC, Huawei and ZTE have attacked Nokia from the low-end in developing markets like China.
“They were also squeezed at the bottom by microvendors, which individually are not very big, but when you add them up they pose a threat in the low-end of the market,” Spektor said.
4. NOKIA DIDN’T HAVE THE PANACHE
The classic Nokia brick phone — and the Snake game on it — brings back a lot of nostalgia. But that’s a problem. Consumers, especially in developing markets, associate the Nokia name with a different era of technology. And in today’s world, having the newest and shiniest device is what matters.
“Nokia was sort of an older brand, there wasn’t a new panache to it. Samsung, as a marketed brand, was perceived as an innovator. Nokia has a legacy baggage — they are the traditional brick, candybar phone maker,” Lam said.
Nokia didn’t market itself as an innovator, and frankly, it hasn’t been doing much innovating anyway. At least not until it entered the Windows Phone space.
The company eventually had to sign off from its once dominant position. Amongst all this turmoil that the company had been facing, the research and development team came up with a new idea that suggested a better and innovative new product. It suggested on launching a new smart phone series as the old one lost its customer share.
However, some executives in the company believe that they should revamp the old series of product for a new introduction would add a lot of research cost. They suggest minor changes in the existing product along with working on bringing back the good reputation of Nokia.
Nokia now approached the consultancy firm to help them sort their 4 Ps of marketing and build up their marketing profiles.
Ankita, who is Aakash’s senior asks him to work on the client’s profile and come up with marketing strategy suggestions which would help them sustain in the fast growing electronics market and help them tackle and revert the effects of all the past pitfalls.
Step into the shoes of Aakash and come up with the best marketing case solution!!!
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