Marketing Principles

Introduction to organization
Nokia Corporation is a multinational communication corporation headquartered in Espoo, Finland it was founded by Fredrick Idestam and Leo Mechelin in 1871, its main products are mobile electronic devices, mobile phones and etc it also offers other services such as internet services, music, games, navigation, Nokia has a joint venture with Siemens, which is called Nokia Siemens networks it provides equipment, solutions and services of telecommunication networks, Nokia is worlds second largest vendor of mobile phones, Nokia has had a strategic partnership with Microsoft since February 2011, which means that all Nokia smart phones will incorporate Microsoft Windows phone operating system. The Nokia brand which is valued at $25 billion is listed as the 14 th most valuable global brand in the Inter brand business week, best global brand list of 2011.

LO 1 Task 1 Elements of Marketing process

Marketing management is the art of choosing target markets and building profitable relationships with them. It includes the analyzing market opportunities, strategic planning increase our focus on speed, results and accountability which can help identify and evaluate, selecting target markets, developing the marketing mix which includes the Four Ps and Four Cs of marketing, which are product, price, place, promotion from sellers view point and customer solution, cost, convenience, communication from customer view point and at last managing the marketing effort which includes marketing analysis, marketing planning, implementation and control. The strategic planning of Nokia revolves around whenever wherever they believe in connecting the 2 billion who do with the 4 billion who dont, their long term objectives are build a new winning mobile ecosystem in partnership with Microsoft bring the next billion online in developing growth markets invest in next-generation disruptive technologies increase our focus on speed, results and accountability

Their strategic assets they plan to invest in and prioritize are Brand and design Customer engagement and fulfillment Technology and architecture

From Rio de Janeiro to Nairobi, Berlin to Mumbai, mobile technology is changing our world. How can we make the most of the opportunities in our everyday lives? How can we keep a sense of identity as societies, economies and governments change all around us? We found people everywhere connected by a shared excitement for its potential.( 2012 Nokia) Nokia have used different marketing strategies for different regions, like in sub-continent region the main customers that Nokia target are the lower or lower-middle class people. Hence Nokia spends hefty amount on the advertisements of cheap mobile sets with basic features so that these lower class people can afford them. Nokia has also enhanced its distribution network so that it can capture the rural regions of South Asian market.The main Marketing Objectives of Nokia throughout the world, especially for the South Asian region are: Capture rural market Target school students Attract Customers to New technology Enhance Distribution Maximize revenues Maintain Customers Loyalty

Task 2 Marketing Orientation

This is basically an approach which identifies and focuses on the meeting the stated or hidden needs and wants of a customer, this helps company in knowing their customers well so that they can communicate more efficiently with cost effective market communication. It helps organization to produce what they can sell rather than sell what they can produce, this concept needs extensive market research, and it can also be expensive and time consuming. Nokia is a market oriented company as they face other competitors in the market for example Samsung and etc, it is very important for Nokia to analyze its marketing strategy. Nokia was awarded the advertiser of the year in 1998, in 2004 Nokia was chosen as the most respected consumer Durables Company by business world, in 2005 Nokia was recognized as the brand of the year by confederation of Indian industry, the company was chosen for the brand of the year because of its well established distributors channels and it was preferred more by the consumers. This shows that Nokia has established a strong marketing strategy and they are market oriented also. The cost incurred on being market oriented can be seen as the cost incurred on marketing, developing, launching a new product etc, for example introducing a new product in a market

where there is no proper distributor channel, in this scenario the cost incurred on the organization will include import or export costs, marketing of the new product, attracting people towards the new product launched, travelling expense, market research expense etc The benefits of this process can include increased market share, because the company is selling what the customers need, this will increase companys revenue and profit, etc