[The Impact of Market Loss and Brand Image By Nokia and Evaluate Strategies To Regain market Place]

by

ABSTRACT

There were three main objectives to this study. First, Nokia's aspired brand image was resolved by interviewing Nokia's Marketing and Brand portfolio Manager. Secondly, people's brand perceptions about Nokia and its competitors were researched through conducting a survey in Finland and the United States. Finally, the findings from the interview and survey were compared and assessed from the branding perspective to see if the Nokia brand should be revitalized and furthermore to suggest improvements to Nokia's marketing strategies in Finland and the United States. The research unveiled important information on how Nokia is currently perceived by the consumers and how their view differs from the brand identity Nokia is trying to build with its smart phone marketing. The study also indicated how Finnish consumers differ in their opinions when compared to the Americans. The results of the research are helpful not only to Nokia, but also to other firms who need to revitalize their brand in the face of increased competition and declining market share. As of late, the Nokia brand has inspired negative brand associations and contributed to the sharp decline of Nokia's market share. However, since the core brand association of reliability is still descriptive of the brand, Nokia should respond well to brand revitalization efforts and gain back market share from competitors that have not yet established a permanent position in the minds of the consumers.

TABLE OF CONTENT

ABSTRACT2

CHAPTER 1: INTRODUCTION5

Background5

Research Problem7

Research Objectives7

Research Questions8

Theoretical Framework8

CHAPTER 2: LITERATURE REVIEW9

CHAPTER 2: LITERATURE REVIEW10

Nokia10

Brand Equity12

Customer-Based Brand Equity (CBBE)17

Brand Revitalization19

Personalization of Marketing21

The Marketing Environment24

Implications for Strategy24

Conclusions on the Literature Review25

CHAPTER 3: METHODOLOGY27

Research Design27

Data Collection Methods28

Survey28

Data Analysis29

Limitations30

CHAPTER 4: DISCUSSION AND FINDINGS31

Interview31

Survey32

People's Brand43

Brand Loyalty44

Similarities between Nokia's Aspired Brand Image and the Brand Perception of Consumers45

Differences between Nokia's Aspired Brand Image and the Brand Perception of Consumers46

Analysis46

Marketing47

Brand Revitalization49

Key Differences in Opinions between Finnish and US Respondents51

Porter Five Forces51

Rivalry among Existing Firms51

Threat of New Entrants52

Bargaining Power of the Buyers52

Bargaining Power of the Suppliers53

Threat of Substitute53

CHAPTER 5: CONCLUSION55

Limitations58

Implications for International Business59

Suggestions for Further Research60

REFERENCES62

APPENDICES70

Appendix 1: Nokia's Brand Image Interview70

Appendix 2: Smart Phone Brand Perception Survey72

CHAPTER 1: INTRODUCTION

Background

Nokia has come a long way to evolve from a paper mill founded in 1865 to a world renowned mobile phone manufacturer and one of the most powerful brands in the world. In 1992 Nokia appointed Jorma Ollila as the new CEO and concentrated its focus on telecommunications (Dwyer & Paul, 1987: 51). Throughout the 1990's Nokia was known as a relentless innovator and a pioneer that made the world's first satellite call among many other groundbreaking milestones. In 1998 Nokia became the world's largest mobile phone manufacturer with a turnover of 31 billion dollars (Alpar, 1991, 33).

Nokia is still the most influential company to the Finnish national economy, but Nokia's effect is far from what it was in the early years of the 21st century when Nokia accounted for almost half of the economic growth in Finland and produced as much as five percent ...