Markting Essay Example | Topics and Well Written Essays - 750 words

Markting - Essay Example The trend for such devices has become so in demand that companies are quick to develop products that will suit what the consumers are looking for in accordance with what is the latest that mobile companies have to offer. Gone are the days when colored-resolution cell phones and camera integrated phones already render people in awe. It is apparent that the popularity of smartphones is taking over the direction of where mobile communication is heading. This technology is getting more and more sophisticated over a short period of time and Nokia must move faster than it ever has before just to be able to catch up. Without a doubt Apple’s iPhone has become the trendsetter in the market for smart-phones. The more recent release of the iPhone4S, though not really an entirely new technology, has gained further success to establish its mark as the formidable standard in the market. With all of the accolades and the brand loyalty that Apple has gained, Nokia has been left behind over th e past few years that they seem to have just woken up only to find they are gasping for air. As founder of research firm Column Ideas Keith Woolcock puts it, â€Å"Nokia has spent the last 10 years facing the wrong way in a fast-moving market† (as cited by Faris, par.7). Drastic times call for drastic measures and to address the predicament it has found itself in, Nokia finds solution by instating a new CEO in Stephen Elop. The market for smartphones is equivalent to the new generation of mobile device consumers which is anchored upon a multidimensional product that is no longer delineated to mere calls and texting functions. These smartphones offer a lot more and its trouble-free connectivity to social internet media has only made it more appealing. From being the top brand for cellular phones, Nokia has dwindled into the background. A study by the International Data Corporation found that Nokia is now trailing behind Samsung and Apple in sales of smartphones. In the United States, Apple’s iPhone continues to dominate as the bestselling smartphone but Samsung takes the lead in global sales in the first quarter of 2012 with a total of 42.2 million units shipped against Apple’s 35.1 million and Nokia’s 11.9 million. While Apple’s numbers shot up by 88.7&, Nokia took a massive blow as it plummeted by more than 50% (Peckham, par.2). SWOT Analysis Strengths Weaknesses Nokia remains to be a global brand It has the resources to launch multiple products simultaneously The forged partnership with Windows gives it a new gateway to resource apps which makes smartphones popular Elop, as new CEO, provides for a fresh perspective to the company Nokia is yet to be identified for smartphones Despite the funding given to product research, they had been lacklustre or downright unsuccessful Some remain apprehensive with Elop as CEO which shows with investors backing out and a walk off by employees in Finland (Faris, par.4). Opportunities Threa ts Android has virtually no other close competitor out in the market for consumers to choose from The partnership with Windows may create enthusiasm for a different kind of smartphones New management translates to new direction for invigorated brand perception The brand appeals to a wider range of consumers which include middle range and even upscale clients Other mobile device companies have already saturated the market while Nokia is yet to be associated with smartphones Consumer acceptance of the new series is considerably slow The Windows operated models are only