Mid Term Question
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More than a decade ago Nokia with its most durable handsets was considered the most demanding company around the world. Nokia was well known for producing quality handsets with prolonged battery life. The trusted customers of Nokia rarely switched to other alternatives because of being brand loyal customers. Nokia enjoyed this marketing leading position from 2001 till 2005. Then there was a time somewhere after 2008 when other mobile phone companies launched touch screen smartphones in the market with updated technologies in terms of looks, functioning, performance, and convenience. This was the time when people started looking for advancements in their handsets but Nokia did not focus on this situation.
Rather, it kept focusing on mass production despite the fact that the market trend has changed and people were not merely looking for durability rather they were more concerned about technological advancements in their trusted brand.
With this marketing myopia approach, Nokia suffered a lot in terms of customer declination and market share. Considering the market trends and customer demands, Nokia launched its smartphones in the market with the X series. But due to the software compatibility issues, these handsets did not hit the potential market. Finally, after exclusive R&D and considering the dire need of time and customers’ lifestyle Nokia started producing its Android sets. Though, they are not still as renowned as other market giants such as Samsung, Huawei, Motorola, Apple, etc. But somehow, Nokia is now able to regain its market position. There is a further need for improvement and implication of appropriate strategies so that it may regain its past position and maximize its customer base.
Nokia was following Production Concept, That’s why Nokia lost its own
value in Global Market.
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