Company Background & Product Analysis Essay Sample
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Company Background & Product Analysis Essay Sample
1.1 Briefly provide a background discussion on your company and their products/services. Identify which product you can have chosen to analyze and why? What category of new product is it?
Nokia, the world’s largest mobile phone maker. It is the world leader in mobile communications, driving the growth of the big mobility industry. Nokia is dedicated to increasing people’s lives and productivity by providing easy-to-use and secure products like mobile phones, and solutions for imaging, games, media, mobile network operators and businesses.
Mobile Phones products in NOKIA Company are the most famous in the world.
NOKIA 7200, it is the new type of mobile phone which is the first pucker mobile phone in the NOKIA company. NOKIA 7200 is textile covers, soft pouch and wrist strap, plus matching wallpapers and screensavers. And put your emotions in motion with the integrated camera and video.
1.2 What classification does the product/service fall under (consumer, convenience, shopping, specialty or unsought)?
The mobile phone is fall under the classification of convenience.
1.3 What are the core , actual and augmented product levels for your chosen product? Why? Justify you response with regards to the core benefit. (Don’t forget a diagram)
The core of NOKIA 7200 is to keep the low level of price with high level of quality. The figure 1 is show below, when the price at point A, then it has higher quality with higher price, when the price at point B, then it has higher quality with low price. The entire consumer wants the product at point B, which has higher quality with low price
2.1 Is the product branded?
Brand is a name, term, sign, symbol or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitions. (Philip. K., Stewart. A. Linden. B., & Gray. A., p 269)
Yes, all Nokia mobile phones are branded with the Nokia logo.
2.2 If so, what are the brands attributes and benefits?
The brands attributes is that have made Nokia the leading manufacturer of wireless phones globally-a strategy that serves Nokia, 2001 Nokia jumped 86% up the brand scale to a 5th place from 55th
Finnish cell phone brand Nokia earns top spot for Europe and Africa again this year with 19 % of the regional vote among 1,290 respondents. With 40% of the worldwide cell phone market, Nokia’s “closest” competition in this field is Motorola with 14% of the market followed by Samsung with 11 %, the value of Nokia brand is over 35 $Mil.
FIGURE 2 the value of branding
1 COCA-COLA 68.9
2 MICROSOFT 65.1
3 IBM 52.8
4 GE 42.4
5 NOKIA 35.0
6 INTEL 34.7
7 DISNEY 32.6
8 FORD 30.1
9 McDonald’s 25.3
10 AT&T 22.8
2.3 If not, would you recommend branding and why or why not? Justify your response and develop some brand attributes.
2.4 Develop a brand positioning man around 2 of the key attributes.
3.1 Who are the major competitors in the market for this new product?
Competitor is the Persons who compete to the same market or the same produce similar product. In the mobile phone market, Nokia’s major competitor is Motorola, which is the second player in this market.
3.2 What products do they sell which are similar to yours?
Motorola, the No. 2 player in mobile phones, has been enjoying a wave of good news. The new type of mobile phone is Motorola V80 which is the competes with Nokia 7200.
V80 is the successor for such model as Motorola v70. By the way the manufacturer decided to change the title, R880 is now known as v80 in order to point out the succession of these models, an interesting case, considering that the company is still sticking to new title scheme for other upcoming models.
3.3 If your product is a completely new (i.e. New to the world) product/service, which competitors do you believe will be the biggest threats to your new product? Justify your response.
Nokia 7200 is the new type of camera mobile phone. Motorola’s mobile phone will be the biggest threats to Nokia 7200. Motorola will as soon as to produce the new type of mobile phone, which is similar to the Nokia 7200.
4.1 Briefly discuss the target market characteristics for your product (include aspects of demographics psychographics, benefits sought and lifestyle characteristics or family lifecycle stage where applicable) and justify your response.
Target market is a set of buyers sharing common needs or characteristic that the company decides to serve. (Philip. K., Stewart. A. Linden. B., & Gray. A., p 230)
NOKIA, the world’s largest mobile telephone company, launched the Nkia 7200 mobile phone aimed at Asia markets. It would set up a research and development facility in India. Asian countries such as India and China offer huge potential to global mobile phone majors, because mobile ownership in those markets is much lower than many Western nations.
Nokia 7200 which using the Code Division Multiple Access (CDMA) technical standard, a cellular technology which competes with GSM technology – are aimed at the cheaper end of the market. In another statement released in New Delhi, Nokia which competes with Motorola, Samsung Electronics and LG Electronics. It would establish an R&D facility for CDMA technology in Bombay. . Nokia sold 45.5 million mobile phones which approaching target market share of 40 percent in the Asian market in the third quarter.
5.1 What is the company’s pricing strategy (e.g. cost-based, competition -based, value-based or relationship-based pricing)? Why? Justify your answer
Price is that the amount of money charged for a product or service, or the sum of the values customers exchange for the benefit of having or using the product or service. (Philip. K., Stewart. A. Linden. B., & Gray. A., p332)
Pricing strategy is one of the four major elements of marketing mix is price. Pricing is an important strategic issue because it is related to product positioning. Furthermore, pricing affects other marketing mix elements such as product features, channel decisions, and promotion.
5.2 What factors should the company consider when setting prices? Justify your answer.
A company’s pricing decisions are affected by many internal company factors and external environmental factors. Internal factors include the company’s marketing objectives, marketing-mix strategy, costs and organization. External factors include the nature of the market and demand, competition and other external factors. (Philip. K., Stewart. A. Linden. B., & Gray. A., p 333)
6.1 Identify the company’s distribution chain(s). How many levels are there? (Note: whether you are looking at retailer, wholesaler, manufacturer or jobber, identify where your company sits in the chain. Use a diagram to demonstrate your analysis. Diagrams require far fewer words!!!)
6.2 Make recommendation as to the appropriateness of the distribution chain(s) and recommend other possible avenues.
Integrated Marketing Communications (Promotion)
7.1 What IMC tools is the company using to communicate to their target market(s)? Provide examples wherever possible and analyze why?
IMC is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent and compelling message about the organization and products. (Philip. K., Stewart. A. Linden. B., & Gray. A., p 410)
7.2 What message execution style(s) is the company using to reach the target market(s)? Justify your answer.
7.3 If your company is not currently using advertising to communicate make some recommendations as to which media they should be using and why and what message execution style(s) they should utilize.
7.4 Make a recommendation whether or not you think the company should continue to communicate using the current tools. Justify your answer.
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