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Nokia A Short Summary And Addresses Some Professor Provided Questions

926 words - 4 pages

Nokia Corporation is a mobile communications company primarily offering voice-centric mobile telephones, enhanced communicators, entertainment and gaming devices and media and imaging telephones. Recently Nokia reorganized its structure and now also includes four business groups as well. They are Mobile Phones, Multimedia, Networks and Enterprise Solutions.At the core of Nokia's most recent successes is its mobile communications department that had 35% of the overall market share of mobile phone sales in 2001. Comparatively Motorola and Sony Ericsson, the second and third market share leaders, each had less than 20% of the market share in 2001. Though with the ever increasing advances in technology, and other companies such as Samsung, Sony (with the buyout of Ericsson), and others getting into the mobile market Nokia may have more competition waiting around the corner rather than in the rearview mirror than they are expecting.Nokia's phones have been well received in the market for sometime now, dating back to the 1980's and their (1G) phones. Now in the 21st century we are looking at the evolution of (3G) phones that are looking to combine as many items of peoples daily lives (radio listening, MP3 media/video media playing, camera capabilities, PDA functions, etc) all into one reasonably sized, and still fashionable device.Target markets have been broken up into six segments each with their own definition based on what Nokia sees these groups requiring in their cell phone. They include basic (people who need an easy to use mobile phone for contacting others), Expression (people who want to customize their phone to their liking), Classic (people who want traditional phone and web browsing functions), Fashion (people who's phone is a fashion accessory as well as a phone - kind of me), Premium (people who want all the technological features they can - definitely me), Communicator (people who want a phone that combines all their communication devices - definitely me). Similar to Specialized Bicycles Nokia has identified a major want for consumers mobile phones to be tailored to anything from their functional requirements of the phone to whether or not it matches the handbag (purse) for Friday night's big party; thus Nokia has/is meeting these wants/needs (by now and for some certain functions are needs) in an ever increasing wireless world.Why has segmentation been a successful marketing strategy for Nokia?As mentioned above Nokia has identified a want for customization in their products. Much like Specialized Bicycles identified a similar need for a quality bike made to fit its rider, Nokia has identified that people want different things with their mobile phones and have even gone as far as to identify specific market segments and what they require. My family is a great example of this as we each have...

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