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Marketing Plan for NOKIA Nokia S series.
I am planning to launch new concept phones S Series mobile phone S51 in the mature market with the changes in the charging system. NOKIA is a big company and big name so they have the target market and by launching this first objective is to cover the name and second we need to look after the company name. NOKIA main objective is to maintain the quality and then to boost the logo which is ''connecting people''. They are basically reducing the gap between the people.
In order to keep this going they need to enhance the features and specifically for this mob adding the battery system and some of the features are like APPLE I phone. And it will considerably having the good reputation and the features. Our NOKIA S51 is one of the most advanced and modern mobile phone in the world and it is compatible with IPHONE and other leading telecommunication brands in the world. It has most advanced features.
For this project I have been instructed to come up with marketing plan of the product line extension of an existing company. I have chosen NOKIA particularly mobile phone sector of NOKIA. NOKIA is a reputable brand all over the world and is famous for its technology, quality, features and innovation. I have selected of NOKIA concept mobiles phones and extending its line having a change in a battery system. This mobile can be charged by solar energy. It can easily be charged by placing it under the sunlight for some time or you can charge this by normal charger and it can give you the talk time 8 to 9 hours and standby time of this mobile is 10 to 11 days. The model is NOKIA S series.
This section explains and summarises the main features of company's various product offering. In case of S51 the Nokia offers the following features;
* Concept phone with solar recharging mechanism
* Battery standby time 11 days, talk time 9 hours.
* It has 3.5 touch-sensitive widescreen display
* 800 x 400 pixel resolution
* It supports major European languages
* Integrated FM transmitter
* Processor and 3D accelerator
* 2GB of application memory
* Weight 135g
* 48GB memory extendable
* Maemo browse powered by Mozilla
* Adobe flash TM 9.4 support
* Full screen browsing
* Email and messaging
* Call waiting, call diverter, call hold, speed dialling etc.
* Operating system: Maemo 5 software on Linux
* Music and audio playback
* 10.1MP camera (Pictures and Video recording)
* Built in GPS, preloaded map and rout guidance
* Comes in black and silver colour
* Clock, calendar, PDF reader, RSS reader, Sketch and widgets
* Application manager for downloads etc.
PRODUCT LINE EXTENSION
Adding depth or new features to an existing product line by introducing new product in the same product line or product category is called product line extension. Product line extensions give customers greater choice and help to protect the firm from flanking attack by a competitor.
For example NOKIA N series mobiles phones. Here the NOKIA is brand and S series is a product line of NOKIA. By adding new S series means making new models of NOKIA mobiles phones in S solar series and extending its product line.
As I am coming up with new idea of S51 and preparing its marketing plan as well so I have to discuss all the steps involved in developing a marketing plan for S51,e.g Executive summary, situation analysis, positioning, strategies, marketing mix, financial matters and controls.
Market plan is basically involved in making decisions. Product specific, market specific or company-wide plan that describe the activities involved in achieving the specific marketing objectives within set timeframe. A marketing plan is a written document that contains the necessary actions to be taken in order to fulfil the specific marketing objectives.
Marketing plan begins with the identification of specific customers need through marketing research and how the company is willing to fulfil them while generating an acceptable return. It generally includes analysis of current marketing situations, detailed action programmes, budget, sales forecast, strategies and projected financial statement.
* Dimension: 59.7mmx111mmx18.2mm
* Weight: 135g
* Display: 3.5” 800x480 (WVGA) touch screen
* Processor: OMAP3430 500/600Mhz processor
* Bands: GSM Quad-Band 850, 900, 1800, 1900. WCDA 900, 1700/2100,2100
* Camera: 10.1 megapixel Carl zeiss camera with dual- led flash, autofocus and sliding cover
* Memory: 2GB total virtual runtime memory (512MB physical RAM
* 48GB internal storage, expandable up to 72GB via external memory
* Wi-Fi, HSPA
* Battery: 1320 mAh
* Video out cable
* Micros USB adaptor
* Maemo 5 operating system
* Multitasking to run several application simultaneously
* Video capturing at 800x480 in AVC/H.264
* Image tagging or geo tagging support
* Cellular voice or VOIP supported
* Firefox 3 web browser with flash 9.4 support
* Video chatting.
Situation analysis describes the market, the company capabilities to serve the targeted segment of the market, competition, goals, focus, and culture of company.
In this case of NOKIA we have to discuss about the NOKIA target markets, company environment and its competition .As NOKIA has launched its new phone S51 with most of the modern features, it has to specify its target market first. The prices are set by comparing the competitor prices and other factors taking in consideration like type of the market segment. Internal environment of a company play vital role for success. NOKIA has to maintain its position as leading market brand in telecommunication sector by offering high quality product with more features relative to its competitor at low price.
This section of marketing plan gives details about size, needs, growth and trends about market.
NOKIA S series is basically concept base. Echo friendly technology and solar system. Market consist of customers and business who uses their phones and prefer mobiles phone devices with long life batteries, large information storage, playing music and taking pictures. First targeted segments for S51 are professionals, students, corporations, entrepreneurs and medical users. In the introduction phase these users are willing to pay even high prices for the S51 because of its features.
Customers surveys shows that most of them needs a mob with a features of mob that its battery time should be long, just because of this N95 was considered as a flop because its battery time is just 1 day. So S51 is one of those sets that meets and satisfy customers needs. It comes with added new quality of solar charging techniques u can place your mob under the sunlight to charge and can easily work out for you in a better way.
S51 comes in two popular colours black and silver. It has 8 megapixel high quality camera and 48GB of memory. In the introduction phase it is making a very good sale and its demand is increasing day by day and becoming one of the most wanted mobile phone in the market.
This section of marketing plan gives details analysis of company strengths, weakness and its opportunities and threats outside in the market. Every company has these fours factors present in it. Strength and weakness are the internal factors of company while opportunities and threats are external factors. In case of NOKIA the same situation exists and its details are as follows.
Concept Phone(PRODUCT):It falls in the category of concept phones .
Nokia is the global product and is available in most of the country of world. Nokia mobiles phones are reliable and attractive that is the reason it is famous brand all over the world.
HIGH PRODUCT QULITY:
Nokia is more concerned about quality and hence its product is more reliable in order to satisfy the customers' demands. In case of S51 the Nokia has maintained its quality standard and is more reliable at reasonable price for customers. Nokia always adds more values by superior quality or differentiated features to the market. Nokia uses Total Quality Management (TQM) which explains more about training work and makes the higher product quality.
..WIDE RANGE OF PRODUCT LINE:
Nokia has highest range of product line as compared to its competitor (more than 10 models) and every year it extends its current product lines.
A comparison between Nokia and others its competitors shows that Nokia has highest prices in some product line as compared to its competitors which is a weak point. Nokia has to overlook on some of its product and readjust the prices in order to compete with others.
Nokia is launching products continuously and adding value and more features in it like MMS for messenger, email, java, touch screen, high quality camera and much more features to suit the users.
Nokia has already joint venture with Hewlett Packard (HP) that has well reputation in the field of PC and with the help HP Nokia has introduced almost PC functions in the S51.
Although Nokia is one of the major market leader and owns large share of the market but still facing threats from its competitor like Sony Ericson, IPhone, LG. Now it's age of technology and every one in market try to make their brands best and most wanted among their customers. They can do by using PC features into mobiles phones and can attract the customers. Nokia already has realised that and using some of the it's characteristic in their new devices.
Another threat Nokia is facing a price war. In order to compete properly with other major competitor in the market Nokia has to review its prices regularly and make sure that it does not loose any customers just because of high prices.
This section of marketing plan gives details analysis of key and major competitors present in the market and tells us about their market position, their strategies..
Sony Ericson is one of the major threats to Nokia and is continuously evolving and bringing more features to its product. Sony Ericson Satio and Experian are major threats to Nokia. These phones are most advanced and touch screen one. Their prices are low as compared to previous Nokia modern's phones and their camera is 12.1 megapixels that is higher than Nokia current camera ranges.
Apple IPhone is another major threat to Nokia and has been most attractive touch screen phone among the customers. For the first time apple introduced its 3.5 inch touch screen with all modern features. It is well equipped with audio, video, music, web access and contact management functions etc. It plays and contributes a major success to the apple industry. Apple has launched a new version of IPhone called 3GS that is most fast and also has enhanced version of its features.
Motorola is also a leading brand in the market and has been introducing new mobile phones over period of times that also has been attractive to customers. Recently Motorola has come up with its new phones Milestone and Droid that are also well equipped with most modern features including touch screen, window operating system, keyboard, 5 megapixel camera etc.
Samsung is also one of the leading brands in the market and people like it and think it a reliable product. Recently it has launched its new phones known as Samsung omnia II and Samsung omnia pro. These phones shows most advanced features like sliding qwerty, 3.5 touch screen, windows operating system, 5MP camera etc.
LG is also a leading brand and is constantly launching new phones in the market. LG New Chocolate BL40 Black has been designed to be the ultimate internet experience on the move. Its 4 inch wide screen is big enough to display full length web pages .It has 5 MP camera and built in GPS etc.
Marketing strategy starts off with marketing objectives, target market, segmentation, marketing mix and marketing research. Distribution explains the channel through which the products are available to customers. For the success of company its distribution channels plays vital roles.
Nokia phones are distributed through a chain of retailers all over the world. The most important channels of distribution are as under:
* Computers stores
* Office supply superstore
* Online retailer
* Electronic specialty stores
Successful marketing plan of Nokia has made it to reach all over the world. The objectives of marketing plan should be clear and legitimate. The following are some of the main objectives of Nokia,
* Customer satisfaction
* Customer perception
* Customer needs expectation
* Generating income or making profit
* Be aware of an environment
TARGETING AND POSITIONING OF NOKIA
Targeting the potential customer is the main target of the every marketing plan.
Positioning is placing the product in the different types of population. Identification of the potential customers is the main thing that needs to be done to sell the product. Nokia has also some serious concerns to choose the right target audience. They chose the youth market that is falling between the ages of 13-19. They research conducted by Nokia shows that youths are receiving lot of packet money and they are not having any commitments to spend that money. So its lot easier for them to buy mobiles phones from the pocket money. Nokia is branded company and can able spend lot of money on promoting and advertising the product.
Companies smaller than Nokia cannot able to afford big amount for the ads. Television ads give good results and it must be played at right time to attract huge number of audiences. Nokia has also had the idea of targeting the business people. For this reason Nokia conducted some events to promote the product among the businessmen's. They placed the ad in television and banner where the large number of audience can get view the ads.
Nokia also spreads the product in the magazines. Particularly in men's magazines, because the large amount of Nokia Phones are bought by the Men's. Nokia's targeting and positioning is been good. It contains the mix of attracting the large viewers as well as they are attracting more specific ones. By following this method, Nokia's marketing won't let them down in any recession.
Our target market for S51 is mostly youth and professionals and also those who loves technology and like innovations in their lives.
MARKETING MIX STARTEGIES
Marketing mix can be defines as: grouping elements in the marketing strategy of a company. These elements are product, price, promotion and distribution and also known as four P,s and can be explained further more as follows.
Product is the centre of marketing mix and other three P,s revolve around it. Consumers buy product and services for different uses and company must be of aware of all these when selling a product. In case of S51 a proper research was conducted and it was then carefully developed by taking consideration of customers and potential customers.
Price is another key factor in selling any product. The company has to review their price policies and make adjustment as required per competition and customer's ability to buy. Nokia is well aware its competitor and cannot ignore the fact the competitor are putting pressure and Nokia has to cut their prices in order to compete with them accordingly. Our new handset price is reasonable as compared to major competitor. The price for S51 has been set 385 pounds by taking considerations of all factors like customers ability to buy, competitor's prices and credit crunch that is affecting the sales of new product more adversely.
Promotion involves providing information to customers about new product or launch via variety of mediums like radio, TV, newspapers, magazines, online etc. Promotion is key tool for the success of company. As leading brand the Nokia is spending lots of money on promotion of its new products like S51.
Distribution is a channel that delivers the product or service to customers across all regions. Nokia mobiles phones are generally available at car phone warehouse and other electrical retailer all over the world. Again for the success of company its well managed distribution channel plays vital roles.
The success of any businesses is based on whether they can give the customer what they want and when they want it. Market research involves the collection, collation and analysis of data relating to the consumption and marketing of relevant goods and services.
The main purpose of market research is to find out whether there is a gap in the market for your product or service or whether you can make customers want your product through persuasive adverting. As we all know very well that there is a market for mobile phones but the current market gap has become saturated (or if not saturated, almost saturated) so Nokia need to find a new market segment to aim their products at. In order to classify the wants and needs of the consuming population, companies need to gather information on the Consumer behaviour-well how do customers react to advertising? Whether they are partial to prize give-aways or free gifts? What are their reactions to new and developed products?
Organizations need to look at how buying trends and patterns are affected by class, gender, religion and region. They also need to understand how buying patterns change over time and what markets are expanding and are worth trying to enter and capture more customers.
It is the responsibility of company to find out that what customers are looking for in a product, for example, style, colour, technology, amount of outlets, customer service etc.
One of the major responsibility of Nokia as market leader is to examine how their rivals are adapting their prices and products to meet the consumers need's.
Market research should supply the company with all the information they require about consumers preferences, whether they buy certain products, what design features are preferable and what kind of retail outfits are most frequently used for purchasing certain products. Research analysis also measures customer's attitude towards competing brands and products. Brand awareness research also helps to determine the effectiveness and efficiency of our messages and media.