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Due to the advent of globalization and the expansion of world markets, the global market place has rather contracted and there are connections between all parts of the world. This progress into technology and modernization has given a great boost to companies selling products such as mobile phones and other communicative technologies. one of the leading companies among these is Nokia which is considered as the world leader in mobile communications. As the use of mobile phones booms, Nokia makes this sector its core business and opts to provide the optimal solution to the communication need of people all around the world.
this paper would focus on the marketing perspectives of Nokia and it would give an outline on how the company approaches its customers.
Moreover, it would elaborate its present and potential markets. Discussion Nokia has been serving its consumers for more than a century and has established its mark as one of the most successful companies. The products offered by Nokia have evolved with respect to technological advancements and the demands and needs of the consumers.
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Nokia has a widespread market and it caters to almost all kinds of consumers.
It has had a long series of advents and products that are focused on one or the other niches in the market. Segmentation is the process by which the market is broken down into sects which are characterized by certain characteristics. Companies use segmentation to explore their target market and decide on the most optimal ways to approach their target consumers.
The products of Nokia are created to cater to a wide range of consumer interest. Nokia has launched products for people with all kinds of communication needs, from business executives to the young generation.
It has encapsulated a series of features and attributes in order to cater to different consumer tastes and lifestyles. Market segmentation has helped Nokia in recognizing the different markets that are present and hence, helps it make efficient use of its marketing resources to provide products that are unique to the target market. This approach of segmentation has provided the company with a competitive edge over its rivals and has aided to capture the particular parts of the market.
Moreover, segmentation has facilitated in enabling the company to modify its products with respect to the needs of the consumers. As technology progressed, there was a reluctance of the people due to the process of learning and getting used to the know-how of the new products. Nokia, in its early stages and even presently, aids with this reluctance towards technology by providing products that are the most user friendly and are easily understood by any consumer. Nokia has the quality of simplicity and regularity.
With the passage of time, as the use of mobile phones increased and cell phones became a widespread phenomenon, Nokia began targeting individual markets within the market of mobile phone users. The market is segmented according to individual personalities and tastes, Nokia phones range from colorful to classy. It tends to hold the interests of the consumers through a wide variety of phones that would cater to people who have a passion for cellular phones, professional individuals who need to be in touch with the world at all times and even youngsters who enjoy carrying a phone that would cater to their needs of entertainment.
The six primary segments that are served by Nokia include, basic, active, fashion, expression, active, classic, and premium. Apart from these, Nokia also provides to business people who need other services such as pager, internet, streaming multimedia and other demands for sophisticated convergent devices. It also has a range of products that a connected video game platform for game lovers.
Nokia's Market Dominance: A Strategic Exploration. (2020, Jun 02). Retrieved from https://studymoose.com/nokia-retailing-issues-essay
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