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Marketing managers, at different periods of time, face a number of issues and challenges beside the usual basic ones of marketing communication, promotion, etc. that are associated and dependent on various factors that are specific to that particular period…
The report tries to understand the effects globalisation and the economic downturn have on this organisation.
The theories and practices related to marketing during an economic downturn are delved into while trying to examine how the organisation responds and deals with the challenges this situation poses. An organisation has to resort to several drastic and innovative measures to survive, maintain and thrive during a period of economic slump. The report examines the strategies adopted by Nokia to sustain during this time. The theories related to globalisation have also been studied with particular reference to Nokia and the process by which and the extent to which the company has undergone internationalisation and the global marketing strategies adopted by the company.
The issues of globalisation and economic slump inter-react in different ways and the consequences are varied for different industries and different organisations. While the combined impact of globalisation and the economic downturn is extremely adverse for many organisations in several sectors, it has been possible for some organisations in some sectors to take advantage of globalisation to sail through the storms of recession. The report looks into how Nokia has tried to utilise the advantages of one for withstanding the impact of the other.
"When the economy heads south, marketing lands on the chopping block" ("Marketing during a downturn," 2008, p.4). ...
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