Nokia MARKET PENETRATION

Usman daR

Strategy Concept and discussionDiscuion related to Market Penentartion ..???

What is Mkt.Pentration?? importance of M.P stratrgy related to Nokia . mEAns Bongiyaaa Marni hai

STRATEGIC MARKETING OBJECTIVES:

To improve the sell of all brands of the company from 55% to 90%. To create new market driven strategy and also create valuable design for

their customer.

SEGMENTATION STRATEGY:Segmentation variables may be used to divide the product-market into segments. Demographic and psychographic (lifestyle and personality) characteristics of buyers are of interest. The use situation variables consider how the buyer uses their product. Variables measuring buyer needs and preferences includes brand awareness, and brand preferences. Purchase behavior variables describe brand use and consumption. Demographics are often more useful to describe segments after they have been formed rather than to identify them. Geographic location may be useful for segmenting product markets. Demographic information helps to describe groups of buyers such as heavy users of a product or brand. Life style variables indicate what people do, their interests, their opinions and their buying behavior. Lifestyles characteristics extend beyond demographics and offer a more penetrating description of the consumer.

The core theory of product segmentation is that a company can produce a single product with relatively minor variations, market it to different customer groups sometimes under different brand names and thereby increase market share while reducing the cost of developing radically different products. Segmentation relies on market research to identify the product characteristics that resonate with target markets. Product development engineers then provide different iterations of the same basic model that meet the preferred traits for each market segment.

Market targeting is the second step of a market strategy. Once the market has been segmented, the ideal segment needs to be chosen or targeted. The first thing to do is to analyze the segment attractiveness. Some of the characteristics for an ideal segment include size of the segment, growth rate of the segment, brand loyalty of existing customers, level of competition, and most importantly, potential for profit.

This information can be acquired through market research. The next step would be to do an internal analysis to determine compatibility levels with the segment.

The most important question would be to see if the firm can offer a superior value as compared to what already exists. The other thing to keep in mind is the firm’s availability of resources vis-à-vis capital requirement for the segment. At an operational level, it is important to see if the firm has access to the distribution channels for the segment. Once these steps are taken care of, the following market targeting strategies can be followed:

Single segment strategy: A single market segment is targeted with the entire product mix. This strategy is usually followed by small firms with limited resources. This allows the firm to focus exclusively on the segment and gradually expand.

Product specialization strategy: The firm specializes in a particular product and targets various segments using different market strategies. This strategy is helpful if the firm has a flagship product with universal appeal.

Market specialization strategy: The firm specializes in a particular market and provides various product combinations for this market. This strategy is helpful if the firm has an established presence in a particular market, but no flagship products to leverage.

Mass marketing strategy: The firm targets all the market segments with the entire product mix. There is intensive investment in market and advertising strategies because competition levels are very high. This strategy is followed by corporate giants with large amount of resources.

Niche strategy: This is a special case of single segment strategy, when the segment is extremely small and/or non conventional. This is the exact opposite of mass marketing wherein the firm focuses on its key strengths which may have little or no universal appeal. However, if successful, this can be the most successful of all strategies, with high growth rates and brand loyalty.

POSITIONING STRATEGY:Positioning is what the customer believes about your product's value, features, and benefits; it is a comparison to the other available alternatives offered by the competition. These beliefs tend to based on customer experiences and evidence, rather than awareness created by advertising or promotion.

Generally, there are six basic strategies for product positioning:

1. By attribute or benefit- This is the most frequently used positioning strategy.

2. By use or application- The users nokia can design and use graphics more easily than with Windows or Symbian. Nokia positions its computers based on how the computer will be used.

3. By user- Facebook is a social networking site used exclusively by college students. Facebook is too cool for MySpace and serves a smaller, more sophisticated cohort. Only college students may participate with their campus e-mail IDs.

4. By product or service class

5. By competitor

6. By price or quality

Strategy Information and ImplementationIs mai chek krna hai k Nokia ne M.p k se kn kn c strtgy bnai ... like

NOKIA Promtionnal stratgy kn kn c hai ?? TVC adds, Print Adds etc , Low price ,, Offers etc ??? .. targeted market ?? Last 2 3 years k Mobile Phn models + promtional compgn .. okaaa

Market penetration

the aim of market penetration is to sell existing products to an existing market, to do this Nokia must do a few things: 

1. Change the pricing scheme (for example, penetration or competitor based) 

2. Introduce discounting 

3. Start up a different advertising campaign or consider changing an existing one. 

PROMOTION STRATEGY:There are different type of promotional mix will be used in order to promote ne classic brand. Traditional media is used to promote the brand also the non traditional media is also used.

A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organizations promotional mix strategy can consist of:

ADVERTISING:

The company will use any non personal paid form of communication using any form of mass media to promote the new brand.

PUBLIC RELATIONS:

It involves developing positive relationships with the organization media public. The art of good public relations is not only to obtain favorable publicity within the media, but it is also involves being able to handle successfully negative attention.

PERSONAL SELLING:

It involves selling a product service one to one basis and make customer aware about the new brand.

SALES PROMOTION:

This is commonly used to obtain an increase in sales in short term. It could involve using money off coupons or special offers. The firm provides special offers and discount for the new brand.

DIRECT MAIL:

Direct mail allows an organization to use their resources more effectively by allowing them to send publicity material to a named person within their target segment. By personalizing advertising, response rates increase thus increasing the chance of improving sales so direct mail will be used to attract customer. The firm provides information about the new brand and its collection to attract more customers.

INTERNET MARKETING:By internet marketing the company will promote and sell company services online to there customers.

Nokia’s marketing strategy is good, or at least they’re doing all the right things.But Nokia’s marketing messaging is all over the place. The lack of consistency guarantees that people have no idea what makes Nokia products better than others.Their marketing won’t work until they understand what the message should be that the marketing delivers.Right now, all they’re doing is trying almost random messages to see if something would magically change the company’s future.For example, TV advertising can be a great marketing method (though for small businesses it’s usually a waste of money). But when your marketing is as unfocused as Nokia’s, TV ads are only good at draining your marketing budget; you need to be consistent with your messaging for it to work.When you’re clear about what your value proposition is, you can focus all your marketing efforts to it. Everything you do then can revolve around just the key ideas that make the biggest difference to your target customers (and your success).That’s all an effective marketing strategy does; it makes people understand what are the best reasons they have for buying from you. Nothing more, nothing less. So, use your value proposition in marketing.

RECOMMENDATIONS:After going through this report and completely analyzing this report, it is recommended to the management of NOKIA that top management must accrue the above stated strategic marketing strategy to get benefits and achieve objectives. If the company implements all these strategies then the company will deserve the position for which it is known. The company will enjoy increase in sale and other benefits and will gain competitive advantage over their rivals by creating and delivering superior customer value.

Strategy Analysis of Nokia , with respect to Market(Consumers) and Industry(Competitors).Discuion krni hai k Nokia Advertising , adversting ka analyisi krna hai with respect to consmer aand competitos . ?? comsumer pe kiya effect perta hai advertising ka .. feed back of Conumer .. is Competitors mai kesy surive kr raha hai .. Impact on Consumers & Competitors .. okaa.. brfly expalin krna hai ..

IS mai Nokia ki koi b disccsuion nhe ki ...??????Corect kr isay .. Analysis kr nokia ki stragties ka , conser vs competiors ..okkkMarket research 

A businesses success is based on whether they can give the customer what they want and when they want it. Market research involves the collection, collation and analysis of data relating to the consumption and marketing of relevant goods and services. 

The purpose of market research is really to find out whether there is  a gap in the market for your product or service or whether you can make customers want your product through persuasive adverting. We already know that there is a market for mobile phones but the current  market gap has become saturated (or if not saturated, almost  saturated) so Nokia need to find a new market segment to aim their  products at. In order to classify the wants and needs of the consuming  population, companies need to gather information on the following: 

Consumer behaviorHow do customers react to advertising? Whether  they are partial to prize give-aways or free gifts? What are their  reactions to new and developed products? 

Buying patterns and sales trendsOrganizations need to look at how buying trends and patterns are affected by class, gender, religion and cregion. They also need to understand how buying patterns change over  time and what markets are expanding and are worth trying to enter and obviously which markets are contracting and companies shouldn't aim to enter into. 

Consumer preferencesWhat customers are looking for in a product, for example, style, colour, technology, amount of outlets, customer  service and promotional styles.

Activities of competitors in the marketNokia need to examine how  their rivals are adapting their prices and products to meet the  consumers need's, how well the rivals are selling and what marketing 

strategies they are using. 

Market research should supply the company with all the information  they require about consumers preferences, whether they buy certain  products, what design features are preferable and what kind of retail outfits are most frequently used for purchasing certain products.