STRATEGIC MANAGEMENT

STRATEGIC MANAGEMENT



Table of Contents

Scenario Building: Asian Market3

Discussion3

Nokia Marketing Strategy vs. Local China Market4

Nokia SWOT Analysis7

Strategic Direction8

Recommendation for suitable strategy10

Strategic Evaluation10

Conclusion12

STRATEGIC MANAGEMENT - Nokia

Scenario Building: Asian Market

The mobile phone industry is fast paced and ever expanding, coming up with ground-breaking innovations every day. Thus it is no surprise that local markets in Asia are trying to compete on international levels based on their own technological know-how, especially brands in the Asian market which is known as the hub for mobile phones and innovation in technology (Open-first, 2010). An international strategy for mobile phones may help these brands in their goal, it is one in which a company adapts and diffuses its knowledge to foreign market. It means that a company further increases its target market by entering into a foreign market and apply its own expertise there, according to new market's demand. One of the advantages associated with this strategy is that the firm has to pay lower cost because of less need to mould its products or services. Another advantage is that the company just has to apply or transmit his existing knowledge and expertise, rather than coming up with new ones. The disadvantages associated with this strategy are that the firm cannot take advantages from local market's new innovations and ideas, and has limited abilities to cater the local market (Dess & et all, 2011, n.d). For the mobile phone handset industry, taking brave steps into strategic management has been a signature move, thus it is not hard to imagine their hold on the current global mobile environment, starting from a underdeveloped nations to the wealthier nations. In this paper, I will be analyzing the world's leading mobile manufacturers Nokia, and will be analyzing the current and previous strategic marketing techniques it has utilized.

Discussion

Nokia Marketing Strategy vs. Local China Market

Nokia aims to continually increase its customer involvement especially where technology and global communication is concerned. It tries to approach strategic problems in a progressive manner, analyzing the traits of marketing that are most effective in the current environment, for example, social networking and its role in communication is currently being utilized by Nokia. Since the core strategy of Nokia is “connecting people”, it aims to build customer relationships through compelling and effective ways that truly reflect customer value and provides solutions through which combinations of devices and services can be enhanced. The marketing strategy aims to ensure Nokia is the provider of the best mobile devices across the world. It aims to enhance as well as effectively capture market growth in the fast paces emerging markets through sharing and driving value oriented CRM through price bands and geographies (Nokia, 2010).

The geographical area I chose to analyze was the China market industry for mobile phones. Almost 74% of the Chinese total population is mobile phone subscribers, so it goes without saying that its local mobile market is quite strong as well. International brands such as Nokia, Samsung, Apple and so on are only able to penetrate the ...