Choose a consumer product or service that is on the market today, but is declining in appeal to consumers. This product should be marked for “obsolesces.” Write a five to six (5-6) page paper in which...

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Marketing
The student’s name
The professor’s name
The course title
The date
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Introduction
To start with, since the market demand could alter over time, organizations
invest high resources in continuously evaluating the present status of customer needs
and wants. This continuous process frequently makes possible for the organizations to
remain competitive with other firms who also target same marketplaces or industry, as
well as retain the interest of existing customers through making changes to already
existing products and services and possibly launching new products which are also of
high interest to the customers. A sound market demand approach could also assist
businesses to identify upcoming patterns or trends before competition. For example,
through market research companies can get information regarding trends that would be
there is coming times so that they could devise products accordingly and offer those
before their rivals do. Appropriately evaluating the marketplace demand for a particular
product or service is highly essential. Failure to correctly project the appeal of a product
or service could result in production levels which are more than the number of units
which would be actually sold.
Further taking the above discussion into consideration this particular paper
attempts to explore the case of Nokia Smartphone and touchphones. The paper first
analyzes Nokia phones in terms of its current target market demographics using U.S.
Census Data. Then, it highlights why they are declining in popularity taking into
consideration factors such as social factors, demographic factors; economic factors,
technological factors and lastly, competitive factors. After that the paper highlights the
possible actions marketers of the product or service you selected could take to address
the product’s declining appeal to consumers. The paper also mirrors the best foreign
country in which to market this product or service. The last section of the paper throws
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light on the product segmentation and positioning ideas for this product or service in its
debut in the new country.
Nokia Mobile Phones
Nokia Corporation is basically a communications and information technology
company with its head office in Finland. The principal products of the company include
mobile phones as well as portable IT devices. Nokia also offers Internet services taking
in applications, music, games, media and messaging and navigation services via its
wholly managed subsidiary i.e. Navteq. Nokia also has a joint venture with Siemens
that offers telecommunications network services and equipment. Nokia offers
employment to more than 97,798 employees all through distinct countries. The
company was regarded as the globe’s second-biggest mobile phone producer in the year
2012 having a global market portion of around 22.5% during the first quarter of the
year. Moving ahead, Nokia was the globe’s biggest provider of mobile phones from the
year 1998 to 2012. Nevertheless, over...