Nokia Company Essay

1364 Words May 21st, 2014 6 Pages
The Marketing Mix Strategies1. Product Nokia's main product is mobile phone and it has a wide range of product portfolio including over a hundreddevices. Nokia has produced the first mobile phone with the antenna inside, the first built-in camera, the firstchangeable faceplate or short-message chat function and so on. Nokia offers various mobile phones with varied quality, shape, size and color. Product segmentation is very significant factor in the mobile device market to reach all consumers. Nokia cell phones can be divided into three categories which is business line, the multimedia line and the connect line. The business line refers to the mobile phones that have priority functions such as connectivity (Bluetooth, WAP, internet …show more content…
For example, Nokia designers believe that the screen of a phone is the “eye into the soul of the product”.
In marketing mobile phones specifically, each mobile phone has a product lifecycle. Nokia could extend the product’s life to 2 years. Successful products progress through four basic stages: introduction, growth, maturity and decline. This progression is known as the Product Life Cycle. The introduction stage is concept of phone,growth stage is Nokia E-Series phone, maturity stage is Nokia N-Series phones, and decline stage is Nokia3110.2. Price Nokia understand that most of the consumer demand for portable multifunction device, so the budget of the target consumer for specific model is considered. Nokia price the products by comparing to other products with similar function in the market. Nokia Corporation, which targets all customer segments, has a wide range of price variations from the lower price group to the higher price group depending on customer's positions and needs. In the mobile phone market, the factors affecting Nokia's device prices are the cost of products, customer demand and competition. Nokia initially sells products at a higher price to gain profit. It is to reimburse the cost of investment and cost of research and development. After a period of time, the company reduces the high price for beginning depending on their competitor prices and they make less profit. However,

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