Marketing for Managers

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Marketing 1 MARKETING FOR MANAGER Student Name Course Name Professor Name April 20, 2022

Marketing 2 Table of Contents Executive Summary ................................................................................................................... 3 Introduction to the Product ......................................................................................................... 4 Marketing objectives .................................................................................................................. 5 Proposed target market(s) and positioning ................................................................................. 6 Target Market ......................................................................................................................... 6 Positioning .............................................................................................................................. 7 Proposed Marketing Mix ............................................................................................................ 8 Product .................................................................................................................................... 9 Price ........................................................................................................................................ 9 Promotion ............................................................................................................................. 10 Place ..................................................................................................................................... 10 People ................................................................................................................................... 11 Process .................................................................................................................................. 11 Physical Environment ........................................................................................................... 11 Conclusions .............................................................................................................................. 12 References ................................................................................................................................ 14 Appendix .................................................................................................................................. 16

Marketing 3 Executive Summary  This report is about the marketing plan of well-known mobile phone company i.e. Nokia. By 2020, the firm's Networking sector will now be the largest “revenue- generating” business group.  In response to the lockdown, Nokia, the maker of Nokia phones, has banded together to aid communities worldwide.  This company’s main objective is to get its market position in the 5G field and improve its security level using recent technologies like artificial intelligence (A.I.) in the next four years.  This company has organized their market target based on the market segment's potential. Its target market is college students, primarily between 18 and 25. Nokia's Android target market in the United Kingdom, by age group, in 2016. The bulk of responders in the target market's high-end segment was 45 years old or older.  The marketing mix (also known as the 4Ps strategy) comprises the four most critical elements of any product's 4Ps strategy: product, price, promotion, and placement. These elements should allow the organization to stand out.  This company now provides a wide range of network services to its customers. Nokia phones in the C, N, X, and E series were the most successful. They were the ones who invented feature phones, which eventually evolved into smartphones.  Nokia charges a high price for first-line items, a medium price for second-line goods, and a low price for third-line goods.  There is no data on any current or recent promotional activities. Public relations are also an important part of Nokia's marketing strategy.  This company also created Nokia Concept Stores, where clients could go and have a firsthand experience before making any purchase-related decisions.

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Marketing 4 Introduction to the Product This report presents a marketing plan for the mobile phone of Nokia. Nokia Corporation (NYSE: NOK) is a global leader in telecommunications equipment manufacturing. It has now established a strong brand position in a number of local markets, and its business has expanded dramatically across all sectors to suit customer demands and the telecommunications company's growth. Nokia also manufactures network for cell devices and other network equipment (Ahmed & Majid, 2019) . By 2020, the company's Networks Business will also be the top revenue-generating business group. As of 2021, this business is one of the most important communications infrastructure companies. Nokia net sales international from 1999 to 2021 is showing in figure 1 (appendix). The company's main competitors in this sector are Huawei, Ericsson, Cisco, and Qualcomm. Huawei and Ericsson are its major rivals in the network operator communications infrastructure business, with Nokia coming in second with around 16 percent market share. A new coronavirus (COVID- 19) has triggered "black swan" incidents across the telecom industry (Nokia, 2021) . Individuals and businesses are starting to turn to digital technologies to manage their workloads, resulting in increased congestion and availability requirements on mobile and fixed networks. Telecom network operators have had to deal with an unusual predicament to meet their customers' growing networking needs. In response to the lockdown, Nokia, the maker of Nokia phones, has banded together to aid communities worldwide. As its broadband customers hurry to update network to assemble increasing consumer require throughout the epidemic, it is seeing an increase in orders. Following its COVID-19 experiences, Nokia is reinforcing its flexible operational practice, reconsidering office locations, and developing knowledge to facilitate more cooperation (Alsop, 2022) . There is a need fora fresh marketing approach for Nokia. The brand evaluation, i.e. its first part of this research, identified that Nokia's main objective is to get its market position in

Marketing 5 the 5G field and improve its security level using recent technologies like artificial intelligence (A.I.) in the next four years. COVID-19 was found in nearly every country and major population center. Many businesses have suffered financial losses as a result of the sickness, travel limitations, and stay-at-home bans, which have permanently altered online marketing strategies and the international community (Taha & Pencarelli, 2021) . Though it's frustrating not to be able to interact in person right now, social separation doesn't have to be a bad thing when it comes to events. Many businesses use various digital marketing to promote their activities, discover new network methods, and bring people together online .Most businesses without a defined marketing plan, who advertise themselves haphazardly, discover that marketing activity is only truly focused on when they need to make a sale. There's a lot to consider when it comes to your marketing strategy, with different channels (web, social, paid, search, etc.) and several target personas to reach. And no one should be supposed to remember this information! That's when your plan comes into play (Nikbin & Foroughi, 2021) . Becoming a world leader in their business segment, the company will still have four P&L- responsible business units arranged all over various customer deals. They'll also need to present a strong route to generating shareholder value, with return on capital serving as a key metric. Marketing objectives Marketing plans are particular goals that provide broad advice and activities of the business. The SMART platform is intended to aid in the development of clear, well-planned, and easy-to-track goals. The marketing objectives of Nokia usingthe SMART framework are as follows:  Specific: Specifically refers to a combination of variables. For example, Nokia's marketing manager must establish what tasks must be completed. This might include improving the quality of its products/services or gaining a competitive advantage by

Marketing 6 implementing modern technology (Yin & Jia, 2015) . The marketing manager must also decide the advantages of achieving these objectives and the participants who will guarantee that the objectives are met .  Measurable: Measures must be included to identify the advancement of actions toward accomplishing a specific objective. A goal should, in essence, be quantifiable (Kozlovskyi & Burkina, 2018) . In this scenario, Nokia's marketing manager must ensure that these objectives are quantifiable and that measures are in place to track their success .  Attainable: In certain situations, companies may establish objectives that are impossible to achieve given their resources and capabilities. As a result, the management must assess if the established goals can be met within the allotted time frame, given the organization's resources .  Relevant: The marketing team's goals must be aligned with the company's overall aims. -The corporation may utilize the value-adding method to add actual value to its products, which will benefit all of its consumers .  Time: A goal must be time-bound to achieve efficiency. A time timetable should be created that outlines how specific steps of reaching the goal will be accomplished (Tikkanen & Ojala, 2021) . In this situation, Nokia can set a timeline of around four years to include all of the improved and current features into their offers . Proposed target market(s) and positioning Target Market Market targeting primarily entails segmenting the market and focusing marketing efforts on that segment. This company has organized their market target based on the market segment's potential. Its target market is college students, primarily between 18 and 25. In this regard, the company's management first evaluates the size of the segment, which is

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Marketing 7 determined by the number of customers or units accessible. The firm often uses the growth rateto define a segment (Kilani, 2021) .Additionally, current consumers' brand loyalty may be exploited to develop a market. The segment's sales capability can also be utilized to determine a market target. Nokia's Android target market in the United Kingdom, by age group, in 2016. The bulk of responders in the target market's high-end segment was 45 years old or older. The age group of 18-34 was the lone high-end outlier. Two main market segments for Nokia Companyare as follows:  Psychographic Segmentation : Nokia Corporation is already experienced in Psychographic Segmentation when it comes to introducing goods to meet the demands of adventurers to achievers (Statista, 2016) . They should now focus on innovators. A typical Open Innovation forum may be quite beneficial in achieving large-scale client acquisition .  Behavioural Segmentation : Nokia is a well-known brand, despite it being impossible to rebuild a pillar that has collapsed on its own. Nokia introducedseveral phones for those seeking quality and improved service at a reasonable price. Phones with good cameras, memory, and displays are desirable. As a result, Nokia provides a variety of Asha series phones in this area . Positioning Market positioning is the final stage of the segmenting the market cycle. In this circumstance, the company's management works really hard to imbue the buyer with a mental image of the product. As a consequence, market positioning assists in make sure that the company leaves a positive opinion on its clients. The organization also employs the customer benefit strategy to position itself in the market. This has aided in ensuring that the organization can meet customers' demands in various market segments (Ahmed & Majid, 2019) .Based on the unique brand attribute and the customer benefit, the business generally

Marketing 8 ranks its brand above the rival when using the customer benefit strategy. Furthermore, the organization employs an application-based strategy to promote its brand. Nokia's premium smartphone, the Lumia 920, has been released at a premium price and with cutting-edge technologies, putting it in the high-end, high-cost Smartphone market. The product is advertised using a strategy of differentiation. The perceptual market map of Nokia mobile products in the United Kingdom is showing in figure 2 (appendix). Perceptual mapping is a visual depiction of customers' brand views across several dimensions. This approach plots the placements of brands on a map based on consumer feedback. It also reflects the firm's brand's power, which helps it stand out in customers' minds (Baran, 2016) . Perceptual maps represent the characteristics that define consumer decision-making and become focal points in product design and advertising decisions. It also reflects the firm's brand's power, which helps it stand out in customers' minds. Proposed Marketing Mix The marketing mix (MM) will reflect the company's strategic decision, as marketing strategy impacts the marketing mix for goods. Marketing management is built on the notion of the marketing mix. MM is a theoretical structure, not only a scientific law, that describes the attempts of big decision-making managers to organize offerings to meet the expectations of consumers (Weber, 2018) . As a result, MM could be used to create long-term strategies as well as short-term operational actions. MM is a phrase that may be used to describe the most important marketing language. The marketing mix (also known as the 4Ps strategy) comprises the four most critical elements of any product's 4Ps strategy: product, price, promotion, and placement. Seven Ps of marketing mix is showing in figure 3. These elements should allow the organization to stand out (Raewf & Thabit, 2018) . MM is a theoretical plan that explains how managers configure their services that satisfy the needs of their clients in order

Marketing 9 to develop long-term strategies or short-term operational initiatives. Marketing research and practice have both benefited from MM's contributions (Alsop, 2022) . According to marketing literature, we believe that the 4Ps evolved through time in response to the demands of organizational processes and that MM occupied a strategic place in the marketing strategy . Product Nokia's goods are diverse due to the company's several Smartphone series, such as the Nokia Lumia and feature phone series. The company's product design varies; touch screen phones, conventional button phones, and slide sets are all available. Nokia's devices contain several unique characteristics that differ from model to model. Nokia currently offers a variety of network services to its clients. Nokia was one of the few phone manufacturers to include camera and mapping functions in their devices. It even included music capabilities, among other things (Hanaysha & Al-Shaikh, 2021) . They were the ones who came up with the concept of mobile telephones, which later evolved into smartphones. Smartphone’s, touch screens, slide shows, and other devices are also available. The durability of a Nokia smartphone is one of its most noticeable attributes. The organization also sells computers and tablets. This company has a long history of firsts to its name. That was the first phone with a built-in camera and SMS abilities, as well as the first cell phone with an antennae built-in. Price The company specializes in delivering products at a reasonable price to people from all economic situations. Nokia skims the bulk of the market via a price differentiation strategy (in which costs are originally established high and then gradually dropped over time), emphasizing on cheap pricing and greater quality stability and predictability. Nokia's devices are first sold at a premium price. Nokia charges a high price for first-line items,a medium price for second-line goods, and a low price for third-line goods (Singh & Garg, 2020) . Prices are chosen following extensive market research and customer behavior analysis. The

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Marketing 10 company assures that people from all walks of life may buy the products they seek under its brand. Some phones are indeed cheaper than $30, but they lack essential features. Nokia Maps, Nokia Drive, and Nokia Music are just a few of the free services provided. Promotion Nokia advertises on television, in newspapers, on radio, and billboards. There is no data on any current or recent promotional activities. Public relations are also an important part of Nokia's marketing strategy. The corporation donates money to charitable organizations and educational initiatives and sponsors sports, music, and television. The corporation's achievement may be traced back to the company's exceptional brand marketing initiatives (Hanaysha & Al-Shaikh, 2021) . Nokia has partnered with key mobile operators in the United Kingdom, such as Orange and T-Mobile, to help them promote their 5G services. They also use the media to promote their new items, such as television, radio, and newspapers. The Nokia Company must establish sponsorship agreements with major football teams due to the thriving football sponsorship market in the United Kingdom. They should also employ movies and photographs in their outdoor advertising. Nokia also informs potential consumers about its goods using text messages, phone calls, and emails (Mukherjee & Kauranen, 2020) . The company has also created a door-to-door marketing strategy, which occupant’s customers at their homes and businesses to inform them about recent comers. Place Nokia entrusts the distribution of its products to other parties. As is common in the industry, it sells its smartphones and feature phones largely through mobile carriers and retailers. Except for the United Kingdom, the company does not have stores across most of Europe. Nokia will not go to great lengths to draw buyers. It uses a variety of distribution methods to reach potential customers for its products and services. The key distribution channels include service providers, individual and general stores, distributors, and Nokia's

Marketing 11 site (Raewf & Thabit, 2018) . Nokia has teamed with H.C.L. Infinite in India to market and distribute its mobile phones. This company also created Nokia Concept Stores, where clients could go and have a firsthand experience before making any purchase-related decisions. Nokia does business with other companies. Nokia's initial approach was to focus on urban clientele, but it progressively extended its market to also include rural regions. With an aggressive marketing approach, the company expands its network, allowing it to expand and grow its business in important places throughout the world (Nokia, 2021) . People The MM's strength as a theory stems from its ability to make marketing look easy, to segregate marketing from other organizational processes, to allocate marketing responsibilities to specialists, and to improve an institution's competitive position by engaging the MM's parts (Hanaysha & Al-Shaikh, 2021) . The Nokia Company teaches its staff how to be customer-centric and how to cultivate positive attitudes toward consumers. Nokia also has a policy of hiring native personnel from the United Kingdom since they are familiar with the tastes and habits of local customers. Process The organisation has built systems for dealing with client complaints as well as identifying consumer wants and orders. Nokia has a well-thought-out strategy in place that outlines how clients obtain services and access their accounts. Physical Environment This business has resorted to writing articles in order to entice clients with low rates and excellent service. Nokia also gives consumers with after-sale services and assistance in order to make them feel at ease and help them better understand of their goods (Statista, 2016) . Nokia has also built a culture of adhering to particular standards governing product quality and safety, all of which are aimed towards safeguarding customers.

Marketing 12 Conclusions It concludes that Nokia i.e. a leading telecommunications equipment producer need to new marketing. Its goal is to regain its rank as the smartphone market manager. The cooperation with Microsoft has the most promise for attaining the company's goal. According to the environment study, the most critical challenge for the firm is the danger from current competitors. The lockdown has triggered "black swan" incidents across the telecom industry. Individuals and corporations are starting to turn to digital technologies to manage their workloads, resulting in increased traffic and availability demands on wired and wireless networks. Nokia's objective is to get its market position in the 5G field and improve its security level using recent technologies like artificial intelligence in the next four years. In this regard, the company's management first evaluates the size of the segment, which is determined by the number of customers or units accessible. The firm often uses the growth rate to define a segment. The market positioning aids in ensuring that the firm produces a positive impression in the eyes of its customers. The organization also employs the customer benefit strategy to position itself in the market. Long-range planning and tactical actions for the near term can both be designed using MM. MM is a phrase that may be used to describe the most important marketing language. The marketing mix (also known as the 4Ps strategy) comprises the four most critical elements of any product's 4Ps strategy: product, price, promotion, and placement. Nokia was one of the few phone manufacturers to include camera and mapping functions in their devices. In the beginning, Nokia offers its products at a premium price. Nokia charges a high price for first-line items, a medium price for second-line goods, and a low price for third-line goods. It informs potential consumers about its goods using text messages, phone calls, and emails. The corporation does not have stores in much of Europe, except for the United Kingdom.

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Marketing 13 Nokia has created some intriguing gadgets with current technology and stunning aesthetics in the Lumia series. However, the market performance of these devices has been mixed, and Nokia has fall short of its aim of being the market leader in the United Kingdom. Nokia's flagship cellphone, the Lumia 920, was released at a premium price and with cutting- edge technology, putting it in the high-end, high-priced Smartphone market. Additional tactics used by the company to increase market share include market segments, segmentation, and placement. It's also worth noting that the present political climate in the United Kingdom has aided its development and growth. However, competitor businesses such as T-mobile are presently posing a serious threat to the company.As a result, the company's management must guarantee that they continue to provide high-quality items to their consumers to increase customer loyalty and attract new ones. Nokia's marketing mix study shows that the company prioritizes the product element of the marketing mix. Nokia has a large selection of products available at different price ranges. Given the company's wide range of products and series, it's tough to understand its strategic decisions at this moment. It's almost impossible to assess the new series' decisions .

Marketing 14 References Ahmed, J. U. & Majid, M. A., 2019. Nokia 3310: Welcome Back!. SAGE Business Cases. Alsop, T., 2022. Nokia - statistics & facts. [Online] Available at: https://www.statista.com/topics/1183/nokia/#dossierKeyfigures Baran, T., 2016. Positions of Mobile Phone Brands on University Students' Mind:. International Journal of Sustainable Economies Management, 5(1), pp. 18-28. Hanaysha, J. & Al-Shaikh, M. E., 2021. Importance of Marketing Mix Elements in Determining Consumer Purchase Decision in the Retail Market. International Journal of Service Science Management Engineering and Technology, 12(6), pp. 56-72. Kilani, Y., 2021. S.M.A.R.T Business Role in Supporting Marketing Strategies among Telecommunication Organizations Injordan. Turkish Journal of Computer and Mathematics Education, 12(6). Kozlovskyi, S. & Burkina, N., 2018. “The marketing strategy for making optimal managerial decisions by means of. "Innovative Marketing ". Mukherjee, S. & Kauranen, A., 2020. Nokia's broadband business boosted as COVID-19 pressures networks. [Online] Available at: https://www.reuters.com/article/us-nokia-broadband-idUKKBN23F13Q Nikbin, D. & Foroughi, B., 2021. Marketing mix strategies during and after COVID-19 pandemic and recession: a systematic review. Asia-Pacific Journal of Business Administration ahead-of-print, pp. 1-21. Nokia, 2021. Nokia increases choice and flexibility for employees following COVID-19. [Online] Available at: https://www.nokia.com/about-us/news/releases/2021/06/22/nokia-increases- choice-and-flexibility-for-employees-following-covid-19/

Marketing 15 Raewf, M. & Thabit, T. H., 2018. The Evaluation of Marketing Mix Elements: A Case Study. International Journal of Social Sciences and Educational Studies, 4(4), pp. 100-109. Singh, G. & Garg, S. K., 2020. Affect of covid 19 on telecom sector in india a review. Journal of Archaeology of Egypt / Egyptology. Statista, 2016. Nokia's Android's target market range in Great Britain in 2016, by age group. [Online] Available at: https://www.statista.com/statistics/689244/nokia-android-target-market-in- great-britain-by-age-group/ Taha, V. A. & Pencarelli, T., 2021. The Use of Social Media and Its Impact on Shopping Behavior of Slovak and Italian Consumers during COVID-19 Pandemic. Sustainability, Issue 13. Tikkanen, H. & Ojala, J., 2021. The curse of agility: The Nokia Corporation and the loss of market dominance in mobile phones, 2003–2013. Business History, 63(4), pp. 574-605. Weber, C., 2018. Nokia Phones: From a Total Success to a Total Fiasco. Portland International Conference on Management of Engineering and Technology . Yin, Y. & Jia, J., 2015. Analysis of Nokia’s Decline from Marketing Perspective. Open Journal of Business and Management, 3(4), pp. 446-452.

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Marketing 16 Appendix Figure 1: Nokia net sales worldwide from 1999 to 2021(in billion euros) Figure 2: Perceptual Map Figure 3:7 Ps of Marketing Mix

Marketing 17

Marketing for Managers

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