Answer To: Select, develop, and analyze two mini case studies. The purpose of this project is to identify a...
Robert answered on Dec 21 2021
Running Head: DEVELOPMENT AND ANALYSIS OF TWO MINI CASE STUDIES
Running Head: DEVELOPMENT AND ANALYSIS OF TWO MINI CASE STUDIES
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DEVELOPMENT AND ANALYSIS OF TWO MINI CASE STUDIES
Development and Analysis of Two Mini Case Studies
Mini Case I (Success)
Customer Driven Marketing Strategy for Nokia’s Mobile phone
Company/ Website/ Industry
Nokia Corporation, http://www.nokia.com, Telecommunication Industry
Background
Nokia is ranked as one of the largest cell phones companies in the world, offering mobile devices and networks to around the world. Additionally, the company provides services and equipments for communications networks by use of Nokia Siemens Networks, a joint enterprise between Siemens and Nokia. Current CEO of the company is Stephen Elop, a Canadian citizen. For the last financial year, total sales in the company were recorded at $ 40.99 billion, a figure termed comparatively competitive. Some of the major key events in the history of Nokia include the development of a Facebook page known as Nokia Facebook page, which it uses to advertise its products. In addition, the company merged with Siemens in 2007, a factor that increased its product sales. In general, Nokia has been recording a starling performance in its business transactions since time in memorial. Fluctuations in its business sales are rare, a factor that has enabled it remain in its leading position (“Company Spotlight: Nokia,” 2008, pp. 1-2).
The company employs a certain customer driven marketing strategy in selling its products. In its customer driven marketing strategy, Nokia segments potential markets in accordance to their economic conditions, a factor that enables it target more customers as much as it can. This strategy has seen Nokia launch a variety of mobile phones in varied markets at different prices, securing a competitive position in the business environment. It is with no doubt to assert that the strategy has and is still successful and can be recommended for other organizations, which aspire to be successful in the near future. This case analysis examines the success of customer driven marketing strategy by studying contributing factors such as market penetration, market development, product development, and diversification (“Company Spotlight: Nokia,” 2008, pp. 1-2).
SWOT Analysis
Strengths
Nokia is the largest cellular company in the world, covering almost 50 countries globally. The company enjoys a substantial market share of 31% in the world markets. The company has a wide range of prices for its products, meeting the demands of different individuals across all income levels. In addition, the company’s products are more user-friendly (“Nokia Corporation,” 2008, p. 5).
Weaknesses
Most of the company’s products are concentrated in developed countries as opposed to developing nations. Additionally, product prices are relatively higher in Nokia Company contrasted with its competitors such as Motorola and Sony Eriksson (“Nokia Corporation,” 2008, p. 5).
Opportunities
The company has promotions, which have increased mobile phone sales in all its areas of coverage. Besides, the company has some innovations, which it uses on its products, boosting their appearance, hence sales (“DATAMONITOR: Nokia Corporation,” 2010, p. 5).
Threats
Stiff competition from other competitors like Motorola, and Sony Eriksson remain a hindrance to the company in its dream of securing a leading position in the market place (“DATAMONITOR: Nokia Corporation,” 2010, p. 5).
Strategy Used
Market Penetration
In its customer driven marketing strategy, Nokia employs market...