Nokia Corporation is a renowned manufacturer of handheld devices and related accessories. Additionally, Nokia Networks, a subsidiary of the Nokia Corporation, is a great investor in the telecommunication market, including distribution of telecommunication infrastructure. Nokia is also among the stakeholders partaking in the testing and development of the 5G network that is set to be launched. The high bandwidth and high data rate network is set to bring advanced revolution in the fields of artificial intelligence and automation. Upon reacquisition of the movable section back from Microsoft in 2016, HMD Global has continued to withhold the Nokia brand within its known standards. Despite struggling in a market primarily dominated by Apple, Samsung, and Huawei, Nokia Mobile still has a good grasp of the market, managing to make huge sales of its devices. This can be attributed to the branding strategy that Nokia uses when putting their instruments out in the market.
Like any other organization, Nokia has critical elements that define its ethics and workability while operating in the competitive market. Nokia has its mission statement as connecting people. This is further enhanced by the iconic handshake logo that depicts Nokia's mission in its field of expertise. Nokia also has the vision to expand human possibilities. This is seen in the extensive involvement of Nokia in the mobile and telecommunication industry. Nokia is always trying to incorporate cutting edge technology in their devices as a show of might in the development of technology. Nokia boasts of having high values that include respect for the customer and employees, integrity while collaborating with others, a challenge in tackling the hard situations, high performance, achievement and renewal (Comparably, n.d.). Nokia also has strategic objectives of becoming leaders in high-performance networks, expanding sales and creating more business opportunities (Nokia Corporation, 2016).
Nokia has a good share of weaknesses as well as strengths that it faces as a brand. Nokia devices have been flawed as having poor voice output that hinders audibility (Bhasin, 2018). Another weakness noted in Nokia is that they put less style in their lowly priced devices. The manufacturer also tends to have massive sets compared to other devices falling within the same specifications relatively. Furthermore, according to Marketing 91, Nokia is skimming the prices of high-end games in the market. Nokia's strengths outshine its weaknesses. This is in the view of having over 140 years of history bestowed upon its name. This made the brand most sought after before the rise of iOS and Android devices. The durability of Nokia devices is still a matter to reckon, with the Nokia 3310 even being termed as indestructible. Nokia has a broad market reach in over 120 countries, with devices having prices cutting through the market segments. Nokia has over the years also developed a strong customer relation owing to the durability and reliability of its devices.
Nokia targets defined market segments in a given population in its marketing strategy. This is so that it makes the most profit out of its sales, and reach as many consumers as possible (Essays UK, 2018). Nokia is seen to target people between the ages of 19 to 39 years of age as they are perceived to be the age group after entertainment devices. Nokia also heavily applies psychographics when dealing with the Asian market. This has enabled the corporation to increase its sales in markets such as India by analyzing the lifestyle, characteristics, and personalities of the Asian market. Granted the excellent camera quality, long battery life, simple UI and durable handsets, Nokia devices are also highly preferred in the African market where the brand name has had a presence since time immemorial. Nokia is also keen to manufacture devices with varying prices and specifications (GSM Arena, 2018). This is to enable the brand to penetrate the competitive market at all levels.
Nokia does a lot towards maintaining its brand image. HMD Global used the Nokia mobile license to bring the Nokia 3310 back to life as a way of showing maintenance of the brand image. Tom Turula of Business Insider Nordic further points out that Nokia is in line to position itself as a European alternative to Apple, Samsung, and Huawei (Turula, 2017). Moreover, Nummela and Rantala have been keen in enabling Nokia to build a global network of an excess of 500 retailers since many distributors have a preference for Nokia. Nokia is seen to apply particular techniques while penetrating the developed and emerging markets, where it applies different pricing criteria on the same device depending on the region the invention will be sold as this increases Nokia's credibility (Turula, 2017). To measure its customers' loyalty and retention, Nokia monitors the sales of its devices in different markets hence being able to deduce where to rely mostly on upon. Additionally, checking the people's reaction when conducting community outreach programs is a way to measure customers' loyalty and retention. The use of online surveys also enables Nokia to identify the satisfaction rates of their customers hence being able to improve on their products or introduce new products into the market upon demand. This is the same approach Nokia used to identify the viability of the iconic Nokia 3310 (Turula, 2017).
Nokia is always credited with having good public relations. Taking a case study of China, Nokia has assumed the role of sponsorship in some educational, sports and development activities (Essays UK, 2018). This has included the donation to flood victims of 1998 and a tree planting initiative employed by Nokia that span from 2000 to 2001. The Finnish company has also taken interests in supporting gym activities, tennis matches, and chess tournaments. On a lighter note, Nokia took an initiative to ease exam pressure in Beijing University by having activities aimed at adding fun to the campus life (Essays UK, 2018). Coupled with an excellent customer care response, these activities make Nokia get good reputations regarding their relationship with society. Hence Nokia as a brand gets to develop further worldwide recognition.
Bhasin, H. (2018). SWOT Analysis of Nokia. Retrieved from https://www.marketing91.com/swot-nokia/
Comparably. (n.d.). Nokia. Retrieved from https://www.comparably.com/companies/nokia/mission
Essays UK. (2018). Market Analysis of Nokia. Retrieved from https://www.ukessays.com/essays/marketing/market-analyis-of-nokia-marketing-essay.php?ref=1
Essays UK. (2018). The Study on Nokia's Utilization of Communication Mix Marketing. Retrieved from https://www.ukessays.com/essays/marketing/the-study-on-nokias-utilizing-of-communication-mi-marketinng-essay/
GSM Arena. (2018). Nokia. Retrieved from https://www.gsmarena.com/nokia
Nokia Corporation. (2016). Higher Returns Through Focussed Growth. Retrieved from https://www.nokia.com/about-us/news/releases/2016/11/15/higer-returns-through-focussed-growth-nokia-sets-key-financial-and-strategic-targets-at-capital-markets-day-2016/
Turula, T. (2017). Here's Nokia's Unique Strategy to Sell Millions of Phones. Extracted from Business Insider Nordic: https://nordic.businessinsider.com/nokia-is-gunnig-for-a-spot-among-the-big-three-smartphone-makers-heres-the-ceos-games-paln-2017-3/
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