Company profile

COMPANY PROFILE We are the #1 maker of cell phones in the world and we are also aiming for the top of the nascent mobile Internet market. Our products are divided primarily between three divisions: devices (handheld device manufacturing); services and software (consumer Internet services and products); and markets (supply chains, sales channels, and marketing). Our wireless network products business is operated in partnership with Siemens as Nokia Siemens Networks; the joint venture is the #3 player in the wireless networking equipment market behind Ericsson and Alcatel-Lucent. STRENGTHS AND WEAKNESSES THREATS AND OPPORTUNITIES MARKET STRATEGY Our goal is to re-emerge into the US Market by re-inventing our marketing mix and strategy. The first step will be to revamp our image in the US by altering the current perception of our phones. We need to reposition ourselves in the marketplace as the leader in high quality, contemporary phone devices. When deciding how we would re-invent ourselves we looked at several options. The first option we explored were licensing agreements with other phone manufacturers. We decided not to choose this option because of the strong manufacturing channels we already have in place all across the globe. We also did not want to risk having our name associated with phones that were not of an extremely high quality for fear that this could lower our reputation in the US even more. Another option we evaluated was to enter into a partnership with a DSL phone service provider such as Vonage. We were exploring the option of developing a new break through Voice of IP service but after discussion we deciding this would not allow us to focus on our core products, which are handheld devices. POSITIONING STATEMENT In the US we are currently perceived as a cheap, outdated phone that is only suitable for the very young or the very old. To the Savvy and Technologically inclined consumer we are seem as an overly simplified phone that doesn’t have all of the latest features. Most often the US consumer is not willing to pay top dollar for a Nokia phone so they only get one if it’s given away free with a contract. This perception of us needs to change. We need to reposition ourselves as the world’s leader in handheld cellular devices. We need to expose consumers to our new phones with break through features. We need to bring back consumer confidence so that they believe our phones are stylish, durable, reliable and top quality. We also want consumers to feel as if Nokia is a strong brand name with longevity in the market. We don’t want our phones to be seen as outdated and obsolete so we need to show the US how strong and advanced we are in the R&D department. TARGET AUDIENCE In order to reposition our brand in the US Marketplace we will focus on three specific target audiences. The first being Young Adults aged 17 to 24 and the next being business professionals aged 25 to 40. We will attract men and women alike with various elements that should appeal to both sexes. Our goal will be to launch 2 different campaigns that will gain attention from people in these age groups but from a diverse range of racial backgrounds. The campaigns will be launched nationwide and will focus on showing Nokia in more of an American light with and American attitude. We will go after high school and college students who are interested in having the newest and coolest phone on the market. They will be from an upper class background and influenced by the hot new trends in the fashion, music and technology industries. They will be very image conscious and they want to show that their phone has the newest features. They will be fun loving and exciting individuals with eager and fast paced attitudes. Next we will focus on attracting young and mature professionals aged 25 to 40. This group will be more conservative and business oriented. They will be driven by work and are hoping to move up the corporate ladder. They will typically be from the middle to upper class and highly status conscious. They will not be sensitive to prices, as they will view the phone more as a business tool rather then an accessory. PROMOTION Given the Business objective of re-emerging in the US market and of boosting Nokia’s overall awareness and image as an inspirational brand we will drive the overall brand image through several mediums. Our primary media will be television commercials and our secondary media will consist of magazine ads and sponsorships. We hope to attract the new target audience of 17 to 24 years though the arena of music and television. We will sponsor music concerts and run commercials on cable networks such as MTV and VH1. We will promote sweepstakes were concert tickets and CD’s are given away free To attract our second target audience we will advertise in magazines such as Newsweek and Business Weekly in order to introduce our new phone to in a mature light. We want to appeal to business professionals who are looking to establish themselves and we want them to believe that our phone can help them achieve their goals. PRODUCT STRATEGY Our new product strategy will be to introduce the new Wimax technology to the US through our new phones. In order to take advantage of the Wimax techonology we will need to team up with Sprint who has developed the new faster wireless network. Our new phones will be the only ones available that can access the network at speeds 3 times as fast as 3G. Nokia will receive subscription fees from Sprint while selling the phones to them as a profit. The new technology will allow people to receive internet connection speeds on their phones that are as fast as their cable modems at home. NEW SLOGAN, NEW LOGO With our new phones and our new technology there will also be a new slogan. For the new campaigns we will emphasize that our two new phones are both $200 so the phrase we’ll use will be Two for Two. We will also use the slogan “ Replace your laptop with your Nokia”