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Essay example - marketing plan
Pages 3 (753 words)
Name: Course Name: Instructor: Date: Part I: Background and Problem The company name Nokia is distinguished and renowned. From introducing the Mobira Cyman, the first handheld mobile phone, in 1987 to being the world leader in mobile devices in 1998; Nokia's name and popularity is not unheard of…
Extract of sample
The Nokia Company and products focus on providing an up-to-date and affordable mobile experience to people globally. With the rapidly increasing smart phone market, this company faces a challenge to accomplish better quality, superior and innovative mobile devices in a highly dynamic market. According to the Q1 Interim Report on Nokia, "Net sales for the devices and services got decreased 25% quarter-on-quarter to EUR 2.9 billion”. Also, the volume for the mobile phones decreased 30% quarter-on-quarter to 55.8 million units, which is higher than the estimated value by mobile phones". Hence, observing just the beginning quarter of 2013, it can be analyzed that Nokia, the once top seller in the mobile market has fallen badly. The factor responsible for this downfall is the poor and inert marketing strategy of the company. The company and its leaders failed to understand that the mobile market is one of the fastest growing in the world and when it had the largest share in the market, the company stopped innovation. Moreover, the company somehow managed to overlook the competition from Apple and Samsung and when the rivals were introducing astounding new products, Nokia continued doing what it was doing and did not introduce something as fresh as the others. The current issue in hand for the company is in the booming smart phone business. ...
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