MGT301 Assignment Scenario on Marketing Philosophies
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Learning Objective:
The core objective of this activity is to familiarize students with the concept of marketing philosophies.
Learning Outcomes:
After attempting this case, students will be able to comprehend which marketing philosophies are beneficial for any struggling brand that may control customer tumbling thus by tactfully modifying its previous strategies and marketing practices.
The Case:
More than a decade ago Nokia with its most durable handsets was considered as 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 smart phones 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 smart phones in the market with 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 of improvement and implication of appropriate strategies so that it may regain its past position and maximize its customer base.
Requirements:
- Which one of the below marketing philosophies do you think Nokia was previously following? Please give two reasons.
(a) Production Concept
(b) Selling Concept
(c) Marketing Concept
(d) Societal Marketing Concept
- Which one of the below marketing philosophies do you think Nokia is currently using to regain its market position? Justify your answer with any “3” logical.
(a) Production Concept
(b) Selling Concept
(c) Marketing Concept
(d) Societal Marketing Concept
*NOTE: Just select any “1” option from Question No.1 & 2. And write appropriate and valid reasons/arguments in both of the questions accordingly. Avoid adding definitions, irrelevant and prolonged points.
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