In Nokia Corporation, the stock level is positioned by the sales analysis. The introduction of new products in the market does not have any control on the level of stocks. The market and sales analysis enables the corporation in the determination of the demand that the customers have for every stocked product. This is translated to the level of stocking that the corporation needs to stock in its outlets to meet the customers’ demand. Under-stocking would lead to a part of the demand being met while the rest of the customers have to miss the opportunity to get their desired products (Kurtz, 2009). Unmet customer demands are a dangerous deal as the corporation can lose quite a lot of customers. This means that, for the corporation to meet customer satisfaction, it has to stock the forecasted sales to meet the demand level. Overstocking on the other hand would increase the rate of the tied up capital that would inculcate challenges in the capital base for the corporation.
The Nokia mobile phones are manufactured using different sizes to meet the customers’ preferences. In the past periods, the size of the phone was believed to determine the customers with men being associated with bigger mobile phone sizes. Women on the other hand were believed to go for the slim and petite sized mobile gadgets. Today, this cannot adequately determine the preference of the customers as the preferences have evolved. Bigger phones have the ability to support internet services where the owner can even conduct business online. With many women joining the corporate ladder, these gadgets come in handy (Kurtz, 2009). Size is no longer the issue but rather the service that the customer will get. Hence, customer convenience in the portability factor plays a very significant role in the marketing and sales of the mobile phones.
Auditing is not only conducted not only at the planning stage and also conducted during various stages until the implementation of the marketing plan....
Quite simply, it is a detailed analysis of the elements that constitute or influence a company’s efforts to profitably market its products- today and in future when both market and products may undergo radical change” ( John, Alexander, & Theodore, 1969).
Service Marketing Audit—Your completed service marketing audit, for this Services Marketing course. This submission should include the results of your audit of your selected service organization(s),as well as your analysis of the results and insights of this audit. (Remember, information deemed confidential by the organization should not be included with this submitted assignment. The purpose of this assignment is to be a focus on assistance back to the service organization, and should not be an activity that would jeopardize employee standing or create company angst). The overall purpose of this assignment is for the student to demonstrate the capability of being able to accomplish such a marketing audit. While the submitted final audit assignment will be evaluated as to its comprehensive review, and should be rigorous, detailed, and insightful, the issues presented should only involve points or issues for which the organization is comfortable. While it is important that the student also provide a copy of the Audit Report back to the organization, the student needs to make certain that the report back to the organization does not jeopardize employee positions. Be considerate, this is an academic activity, not a threatening assignment. Your report on this ‘audit’ should be similar to a consulting report, professional in appearance and writing style, and should balance positive observations with any negative comments, and including feasible recommendations for possible improvements. Your report should include a title page, table of contents, all appropriate sources and citations. Accompanying results might be best presented in appendices along with possible illustrations or other exhibits.
From the annual general meeting that the corporation held in 2010, the CEO revealed that the Nokia Corporation has been able to keep its leading position in the manufacture of mobile phones industry for twelve years straight (Nokia’s Comeback Plan, 2010). In the year 2009 alone, the corporation was able to sell four hundred and thirty two million products more than the figures that its three topmost competitors sold in total. Estimates have shown that the Nokia mobile phone gadgets are used by at least 1.2 billion individuals in the world on a daily basis. This of course makes the Nokia Corporation the biggest market holder in the mobile phone industry. The profits and profitability index acquired by such numerous sales has been accounted to the maintenance that the corporation has had on its customers. With the application of the market concept, the corporation has been able to meet its customer needs that have resulted in the long-term profitability based on the healthy customer relationships that have been upheld as a significant component of the organization’s culture.
Specifically, the marks you obtain depends on the extent to which:
1. You are able to demonstrate your understanding of relevant concepts and your ability to apply the concepts in the audit report.
2. You are able to critique the company’s marketing situation with a well established academic linkage.
3. The opinions you express are clear and supported by concise, creative, logical and coherent arguments (i.e., it does not consist of three or four disjointed parts).
4. The report is easy to read and understand and if the layout allows the reader to easily grasp the sense, direction and objectives.
5. The report is researched broadly and skilfully from varied sources (Journal articles, industry publications, magazines websites, newspapers, interviews).
6. Harvard referencing style is used accurately and consistently within text as well as at the end of the report.
7. You are able to demonstrate a clear understanding of the basic rules of punctuation.
8. You use an extensive vocabulary.
9. There is insignificant number of spelling errors.
10. The report is visually striking and appealing.
11. The report consists of :(i) an informative title page; (ii) a table of contents complete with sub-headings flowing in a logical sequence; (iii} an executive summary; and all technical matters of interest in the appendices.
The idea of a strategy portrays an image of a well thought out plan as it has had careful evaluation of the market and the company to come up with a suitable strategy to meet the goals and targets for the company's medium to long term future....
1. It is not expected that you will conduct a customer survey. However, secondary sources of data will form the basis for this report.
2. Consideration of all study materials and reference to other literature on the subject is expected.
3. Your marketing audit has to be confined only to consumer markets in this report.
4. Give a brief introduction of the company, its marketing philosophy and discuss its marketing environment.
5. Indicate the broad segmentation basis, as well as the variable, or variables, within this broad category that will identify market differences on which you could base the development of successful marketing mixes. Identify the meaningful market segments, or target markets, that reflect those market differences. Be sure to list the criteria needed to determine if a segment is viable. MARK922: Marketing Management 8
6. Explain and identify the specific different marketing mixes that are required for each market segment (targeting strategies). You can focus your analysis on a segment or a selected set of segments and need not be carried out on all segments served by the chosen organisation. However, indicate your rationale behind the choice of a segment(s).
7. Inclusion of quantitative data, (for example, size of market segments), is expected.
8. The positioning strategy must identify the products or brands competitive advantage and stress salient product characteristics or consumer benefits that differentiate the product or brand from those of the competitors.
9. Discuss marketing mix strategies (4Ps/7Ps) of the selected company and discuss distinctive capabilities of the company.
The advertising level for the four leading firms can be compared by determining the ratio of voice share (% of total advertising dollars of$20 million) divided by the market share as shown in Table 3. Consumers will not know our brand; therefore, we will have to advertise more aggressively to achieve brand awareness. Although our market share goal in 1998 is three percent, we will set advertising at one million dollars. This will achieve an advertising voice/market index considerably higher than our competition.
The marketing concept in the business world holds that the success of an organization should be geared on the satisfaction of consumer needs, preferences and wants. This is to be pursued by the organization as it strives to meet its desired goals and objectives. The marketing concept’s core idea is that an organization should direct a better deal of its attention to the customers’ needs and wants before designing any product so that it can adequately address the given requirements. This serves a great deal in customer satisfaction. The aim of this paper will be to determine whether the Nokia Corporation applies the marketing concept in its dealings. To determine this, we shall review the corporation’s marketing philosophy, marketing environment, segmentation, targeting, and positioning and market mix strategies.