This marketing plan is about the launching of a new mobile product Nokia E71 by Nokia Corp. by the end of 2008. Most people need a diverse and high technology mobile phone. So, Nokia is aim at this point and its mark that Nokia’s develop this mobile phone in a new market niche.
Nokia E71 represents the most advanced diverse mobile phone with the latest digital applications. It reflects the radical changes in mobile phone technology moving from the analogue service to the digital era.
This plan will provide the information about Nokia E71 mobile phone function and it’s marketing strategy. Also, it wills analysis the environment’s strength and weaknesses for the diverse phone.
Other ambitions for this marketing plan include:
v Analysis of SWOT, strengths, weaknesses, opportunities, and threats
v The local market force, target markets, and promotional opportunities.
v Analysis the Macro-environmental of Political, Economics, Society and Technology.
v Marketing mix for product, place, price and promotion.
v Product life cycle and competitive
v E71 – 2 years product finance forecast
The successful launch of Nokia E71 illustrates that product innovation is the key to success into the market.
1. Introduction
Most people have one or more than one mobile phone in 21st century. In Hong Kong, over 90% peoples (around 6 million peoples), they have mobile phones and they used to change their mobile phone frequently. They seek the mobile phone that has more functions (camera, internet, etc) and the good outlook design. Thus, Nokia has promoted the new diverse mobile phone E71 (include camera, internet and 3G among others) to fit for customers’ need and desire. E71 has the same functions that Blackberry also has, but the price is cheaper than Blackberry. This thesis is written in a good marketing plan and strategies for E71 mobile phone to enter to the market.
2. Company Background
Nokia Corporation (Nokia) is an international communications company and player in mobile industry, focused on the key growth areas of wire line and wireless telecommunications. Nokia is at the forefront of mobile technology and has over a century and a half of innovation with roots beginning as early as 1865. The Company makes a range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia is now the world's largest manufacturer with a global device market share and world leader of mobile telephones and communications.
Nokia also provides equipment, solutions and services for communications networks through Nokia Siemens Networks. Nokia produces mobile phones for every major market segment and protocol, including GSM, CDMA, and W-CDMA (UMTS). The corporation also produces telecommunications network equipment for applications such as mobile and fixed-line voice telephony, ISDN, s, voice over IP, and wireless LAN. Nokia had four business groups: Mobile Phones, Multimedia, Enterprise Solutions and Networks, broadband access and serviced by two horizontal groups: Customer and Market Operations and Technology Platforms, in addition to various Corporate Functions.
2.1 Objectives
Nokia sets an objective aggressively to sell the diverse mobile phone E71 to achieve in two years in the market.
-
Nokia are aiming for a 5 percent market share in Asia Pacific region;
-
E71 style phone market through unit sales of HKD 3 million in two years;
-
Achieve a 15 percent share based on sales.
An important objective will be extended on the Nokia brand name and link to the established meaningful positioning. Nokia has invested heavily on the diverse mobile phone and it plan to capitalize on the brand when marketing the diverse mobile and it will extend on Nokia’s image of innovation, quality, market share and value. In additions, it will measure the awareness and response in order to make adjustments to our marketing campaigns as necessary.
2.2 Mission
Nokia’s mission is to provide consumers with innovative digital convergence products that possess exceptional technology, quality, features, performance and value. It connects people to each other and the information that matters to them with easy-to-use, and modern products like mobile phones, devices and solutions for imaging, games, media and businesses. It’s simple mission: to “connect people” in every-time, everywhere, everyplace and every day.
2.3 Product Life Cycle
Each mobile phone has a product life cycle. Almost the phone life is 1 year. But E71 has more functions and professional style, Nokia extend the life cycle is around 2 years.
In the introduction stage (1-3 months), the consumer, the market has not any information for E71; feature and function. So, Nokia require a lot of advertising and promotion to introduce the consumer and the new market. In this stage, the outcome cost is larger than income. The majority cost is included development cost, consultant fee, advertising fee and promotion fee. The company also expects advertising and promotional costs to be as high as in the introduction stage as more companies will enter the market and competition for market share will also increase. Advertising is a proven way of promoting technological advances within a market so higher advertising costs can be expected as the technologies available get better and more advanced.
The growth stage (4-12 months), Nokia start to make a profit, based on good market research and a strong sense of branding and a successful marketing scheme. Nokia also has high promotions cost involved in this stage. In the growth stage profit isn't the only thing that will start to develop, as in the market it is obvious that more difference mobile phone will be developed and that will drive prices higher, this is a good time to make a profits because consumers have accepted the product, as a necessity they will be more willing to pay higher prices for new phones that emerge in the market.
When a product enters the maturity stage (13-18 months), advertising and promotional prices should decrease, as consumers are more aware of the product and will research new additions to the market instead of being told what is new. At this point in the product life cycle, Nokia should be clear as they will have the most money to develop and promote E71 phones while the other, less popular producers of phones will be struggling to survive and will drop out of the market either here or they will seriously struggle in the next stage, decline.
The final stage, decline stage (over 18 months), E71 mobile phones have entered, and Nokia will try to re-launch E71 to the existing market or entering new markets (outside of Hong Kong). At this point mobile phone sales will be decreasing and promotion and advertising costs will start to rise again as companies fight for the remaining market share and struggle to make a profit. This will back into to growth stage.
Sales and Profit ($)
Sales
Profits
0
Time
Product
Introduction
Growth
Maturity
Decline
Development
Stage
Losses / investments ($)
3. Environment
The environmental factors are comprised of several differing influences and trends that are considered to be the layers around an organisation. The primary environment of any organisation is its macro-environment or where the organisation belongs in the industry. The PEST analysis is the most comprehensive method of assessing the environment of any organisation. PEST includes the political, economic, social and technological, and provides the organisation with a framework of variety of forces that could affect their operation. The results of this analysis could effectively lead to transforming such forces into strategies that are beneficial for the organisation.
Environment can affect the company marketing strategy from development. There are two factors of internal (micro environmental) and external (macro environmental). The company can directly control the internal environmental, but the external environmental is un-control. The company needs to follow the external environmental
3.1 PEST analysis
Nokia is a global brand, which is required to focus on macro environmental factors. Macro environmental factors comprise Political, Economics, Society and Technology, PEST analysis. When Nokia provides a new product in the market, it also needs to know what is happening in the other countries at the moment. So, Nokia has to adjust its strategic plan in order to develop international market, as there are different culture and different external factors between different countries.
3.1.1 Political factor
It is important of a company to acquire resources from government, such as economic policy, and science and technology policy. Hong Kong is a free trade zone, to operate efficiently, a modern knowledge and technology based economy that is highly specialized internationalized and undergoing rapid structural change requires active support from the public sector. The success of Nokia has followed the Hong Kong policies which assist Nokia to advance its products.
3.1.2 Environmental and Social factor
Many companies may view profit as more important than ethical practice and this can lead them to making illegal decisions and this has been a big contribution to many companies going out of business or losing their entire market share to eco-friendly companies.
Nokia have managed to be quite environmentally friendly and have not done anything that the consuming public have taken huge offence to, they have been very careful about this and this is one of the reasons, they are such a popular brand of mobile phones.
3.1.3 Technological factor
In the communications market this is probably the most important external factor in affecting a Nokia development of their marketing strategy as they must always keep up to date with every change within the market. It has to keep up to date with all the newest technological advances if they are going to capture the biggest market share and successful, hold on to their market share as hopefully gain more and stay ahead of their competitors.
3.2 SWOT analysis
Strategic capability concerns the adequacy and suitability of resources and competences as the requirements of survival and growth. To wit, competitive advantage could be only achieved one the organisation learned to develop strategic capabilities that are appreciated by its customers in a manner that competitors are finding difficulties to imitate. The most basic process of acquiring knowledge on organisation’s strategic capabilities is through a comprehensive review of the strengths, weaknesses, opportunities and threats (SWOT).These are tangible and intangible elements inherent to the organisation that enables the continuous improvement or the ability to continually develop strategic capabilities.
SWOT analysis is also another way of deciding on a successful marketing scheme, it must look at Strength, Weakness, Opportunity and Threat. The SWOT analysis provides information that is helpful in matching Nokia’s resources and a capability to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection.
3.2.1 Strengths (Internal factor)
Nokia is a big brand in the World; their product can make a confidence to customer buy. Nokia have strong strengths than other company.
Ø Most popular mobile communications company
Ø Excellent marketing and promotion
Ø Solid manufacturing
Ø Best Research and Development facilities
Ø Potential customer
Ø High quality product and function
Ø Variety of products to keep them in the game
3.2.2 Weakness (Internal factor)
This is basically looking at where the product is failing or mot doing as well as it should in the market. Nokia problems are that:
Ø Currently aiming their products as a saturated market segment.
Ø Products lack user centered design
Ø Products lack the slick and fashionable appeal
Ø Products lack the touch screen function
3.2.3 Opportunities (External factor)
This is the area in which Nokia can make more profit or gain more market share.
Ø Improve the technology that they are using to make their phones and use in their products. The camera phones and advanced picture messaging would attract new consumer to purchase phone under the Nokia brand name.
Ø Using innovation to re-invent their products, change and develop within the market to offer something none of the competitors have. Also the fact that phone call charges are being forced to fall should prove to be an opportunity for Nokia to sell to the people, who previously may have not purchased a phone because of higher call charges.
3.2.4 Threats (External factor)
This is looking mainly at the competitions that are taking away Nokia’s current market share.
Ø Asian OEMs (Original equipment manufacturer) who are entering the market very aggressively (For example, TCL)
Ø ODMs (Original design manufacturer) enabling carriers to leverage their customer power bypassing the handset vendor. Operators want to lessen their dependency on handset vendors and the dominance of Nokia. HTC, Orange, O2 and many other operators globally are selling their own brand of phones.
3.3 Porter’s Five Force Analysis
Another method to evaluate the environment of the organisation is through the five forces framework. This framework, which was developed by Michael Porter, put emphasis on sources of competition internal and external to the organisation by means of barriers to entry, suppliers’ and buyers’ power, threats of substitute and extent of competitive rivalry. The dynamicity of the two techniques of environment evaluation conforms to understanding the competitiveness of the organisation and the critical success factors that could be derived from these environment evaluations.
In the Porter’s generic strategies, there are three strategies; Differentiation, cost leadership and focus. For the mobile phone of E71, Nokia is use cost leadership model for the marketing strategies.
As per the above marketing mix – product and price strategies, its present that the model cost is less than any other competitive organization and provide more function. These two points is attracting the consumer need and wants. The product is often a basic no-frills product that is produced at a relatively low cost and made available to a very large customer base and gain market share.
Maintaining this strategy requires a continuous search for cost reductions in all aspects of the business. The associated distribution strategy is to obtain the most extensive distribution possible. Promotional strategy often involves trying to make a virtue out of low cost product features. Nokia is provide the low price, will remain the profitable for the longer period of time. The cost leadership strategy usually targets a broad market.
Also, Nokia has efficient distribution channel, skill in the design product and high level of expertise in manufacturing process engineering, this internal strategy can success the cost leadership.
Porter argued that:
“Competitive advantage is a function of either providing comparable buyer value more efficiently than competitors (low cost), or performing activities at comparable cost but in unique ways that create more buyer value than competitors and, hence, command a premium price (differentiation).”
Porter is identified that two types of competitive advantage. Cost advantage and differentiation advantage. A competitive advantage exists when the firm is able to deliver the same benefits as competitors but at a lower cost (This is cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage). Thus, a competitive advantage enables the firm to create superior value for its customers and superior profits for itself.
In the mobile phone market, there are more competitive, they will develop the products every time. So Nokia need to increase their product function at the same moment and also need to use the high-tech technology but the cost is low to the market. Then, it can increase the product advancement, increase the company market share and increase the customer use Nokia confidence; this is a benefit for the consumer and company (two wins method).
4. Market Definition and Segmentation
4.1 Market Segmentation
Target Segment
Consumer Need
Corresponding Feature / Benefit
Professionals
>>
Stay in touch while on the go
>>
E-mail, instant messaging, and phone
>>
Record information while on the go
>>
Applications from Excel, Words for notes and record keeping
Students
>>
Perform many functions without carrying multiple gadgets
>>
Phone, video, TV Shows, Internet, PDA, MP3
>>
Style and individuality
>>
Nokia branding as fashion statement
Corporate Users
>>
Input and access critical data on the go
>>
Applications from Excel, Words for notes and record keeping
>>
Get information and data to customers quickly
>>
Compatible with widely available software
Entrepreneurs
>>
Organize contracts, access contracts, and schedules details
>>
Wireless access to calendar and address book to easily check appointments and contacts
4.2 Target Market
Nokia targets consumers who need to store information and communicate as well as people who want entertainment on the go. The company target segments that consist of professionals, students, corporate users, entrepreneurs, and health care workers. Based on the marketing research, between the age of 20-50 market segment as they will have lots of disposable income and shows that most people aged over 50 do not currently own a mobile device and could be persuaded to buy one by certain promotions and a good advertising campaign, also the drop in call prices should attract a lot of people who may have previously been hesitant due the high costs.
One of our primary customer targets is the middle-upper income professional that need one portable device to coordinate their busy schedules and communicate with colleagues, friends and family. Our secondary consumer targets are high school, college and graduate students who need one portable multifunction device. Mainly the mobile phone market will be replacing their cell phone with Nokia E71 diverse mobile phone.
4.3 Marketing Positioning
4.3.1 Products
“A new product can be defined as a particular good or service that is perceived by some customers as new. It may ultimately have been around for a while, but the customer has just recently come across it” (Kotler, 2006).
Nokia has catered to the different customer’s need and want. They have design a different model to market for the customer choice. Few people want Internet, camera, video, games, online TV and information, and PDA features in one device because of the high price. The smart phone market is still relatively small being compared with general phone market. The market will rapidly increase in coming years due to lower prices and greater power. It’s depending on the customer need and the budget.
Nokia knows that most of the people want to buy a high functional mobile but they are no budget to buy it. Then, Nokia design a professional mobile phone E71 to cater to the market needs, the suitable size is fit to use and it is a high-technology phones. The price is lower than HK,600, its fit the consumer target.
The Key features of Nokia E71 as below:
Optimized mobile email and messaging experience with full QWERTY keyboard and pocket-size for one handed typing.
3G function
Nokia PC Internet access
Intelligent input with auto-completion, auto correction and learning capability ensuring fast and error-free typing
Built-in A-GPS and Nokia Maps
Music player, Media player, Visual Radio
Built-in mobile VPN for convenient intranet access
Microsoft program (Excel, Words)
Dictionary (English convert to Chinese and Chinese convert to English) and readout the word
Keyboard input function
4.3.2 Price
“The meaning of price depends on the viewpoint of the buyer and seller, each party to the exchange brings different needs and objectives that help describe a fair price, without both parties agreeing no sale takes place” (Strauss 1999). “The price a product is sold for consists of three elements which include production costs, coordination costs and profit margin” (Wigand and Benjamin).
The phones that Nokia produce are usually sold at high prices (new phones can be expected to enter the market at around HK,000, if they carry the latest technology) except this new E71 mobile phone, they sell around HK,600 in the introductory period. The price of the new phones usually decreases after an introductory period, which is usually around 6 months long.
Nokia's current pricing strategy is based on 2 main theories:
1. Penetration pricing-although this strategy is usually for companies that are trying to gain instant market share in a new market, companies who are already well known in the market still do it with new products that carry new technologies so they can take more market share from their competitors.
2. Competitor based pricing- this is used when there is a lot of competition in the market and a company is looking to take another companies market share by offering the same or similar products for a lower price, this happens a lot in the communications market and this strategy is used by every mobile phone producing company that is still in business.
Nokia's pricing strategy has proven very effective, this is down to the fact that they first sell their products for high prices and have very limited sales but make big profits on each sale, they then lower the price of their product and have lots more sales but they make less profit, but they still make a large profit due to the amount of sales, the other reason that they are so successful is that they offer high quality products and they sell them for the same price and sometimes even lower prices than the competition and have now built up the highest market share, they currently have 42% of the mobile phone market share and are the biggest selling mobile phone company in the world.
Compared with our company, they also have provided the similar function mobile in the market. But the price is more expensive than Nokia.
Brand / Model
Price (HK$)
Compare with E71 (expensive)
Expensive %
Nokia E71
3,580
-
LG Renoir
4,380
800
22.35%
Blackberry® 8707g(3G)
4,580
1,000
27.93%
HTC Touch diamond
4,680
1,100
30.73%
I-Phone (8GB)
5,400
1,820
50.84%
Sony Ericsson X1
5,980
2,400
67.04%
I-Phone (16GB)
6,200
2,620
73.18%
Samsung innov8 i8510H
6,380
2,800
78.21%
4.3.3 Place/ Distribution
‘Distribution channel is a group of interdependent firms that work together to transfer product and information from the supplier to the consumer’(Strauss 1999).
Nokia phones are generally sold at all established mobile phone dealerships, although they are also sold at other retailers such as Broadway, Fortress, Best (the larger electric equipment retailer shop) and other electrical suppliers (the small business shop). For the larger retailer shop, they have over 70 retails shop distributed in Hong Kong Island, Kowloon and New Territories.
Also, the company will sell the products into Nokia specialty shop. It has 5 specialty shops; all is distributed in Hong Kong Island and Kowloon popular shopping location. It can provide the professional advice to the consumer and convenient to buy it.
In the introductory period (for the first two weeks), the products are sold in the Nokia specialty shop only, so the phones can remain limited edition, as this will encourage younger and professional consumers to buy them. After the first two introductory weeks, all the products are sold in the dealerships shop.
Channel 1
Manufacturer
Consumer
Directly sell to consumer in website - "Online shopping"
Channel 2
Manufacturer
Retailer
Consumer
Manufacturer sell to Nokia specialty shop, then sell to consumer.
Channel 3
Manufacturer
Wholesaler
Retailer
Consumer
Manufacturer sell to Wholesales, then wholesales sell to electric equipment
retailer shop, after that sell to consumer.
4.3.4 Promotion
“Marketing communications or promotion is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects employees and other relevant external and internal audiences” (Belch and Belch, 2007). Marketing communications consists of all the basic elements in the promotional mix. These include Advertising, Direct marketing, Interactive/Internet marketing, sales promotion, publicity/public relations and Personal Selling (Belch and Belch, 2007). When a business develops a promotional plan, it is not uncommon for them to use some, if not all of these elements.
Nokia tends to promote the new technologies and mobile devices they create using one big advertising campaign that focuses on a singular technology instead of each individual handset so they can appeal to a lot of different markets with one campaign.
Nokia would be aiming their new line of mobile phones at completely new markets; there would be high promotion costs involved as there is at the introduction stage of any product life cycle.
Nokia will integrate the message of revolutionary communications and audio/visual experience together in all of the media advertisements. Prominently featured to differentiate our product against others is same as PDA functionality. The best places to put print advertisements would be in supermarkets near the tills so people in the queue can read them and hopefully become interested in buying a Nokia brand mobile phone. Also print adverts should be placed in popular magazines and newspapers where the target market will see them. The advertisements need to be original but tasteful at the same time. Thereafter, advertising will be appearing on a regular basis to maintain general public awareness and communicate various differentiation messages to several targeted groups. To attract, retain and motivate channel partners to push the product, it will send personnel to inform the consumer.
Research about media consumption patterns of the targeted audience will help the advertising agency choose appropriate media and timing to reach prospects before and during product introduction. As per the research report, Nokia mainly have five channels for promotion; advertising in magazines, TV, electric retails shop, leaflet and street poster.
5. Financial Summary
5.1 Financial forecast table by product life cycleForecast income and outcome for the mobile phone E71
In HKD
The selling price is HK,600
3600
Stage
Month
Estimate Sales
Qty
Advertising
Other expenses
Introduction
1
360,000.00
100
300,000.00
100,000.00
2
396,000.00
110
400,000.00
150,000.00
3
432,000.00
120
500,000.00
120,000.00
Growth
4
702,000.00
195
200,000.00
100,000.00
5
900,000.00
250
350,000.00
110,000.00
6
720,000.00
200
220,000.00
130,000.00
7
756,000.00
210
240,000.00
135,000.00
8
720,000.00
200
190,000.00
140,000.00
9
648,000.00
180
170,000.00
85,000.00
10
684,000.00
190
180,000.00
99,000.00
11
666,000.00
185
160,000.00
110,000.00
12
792,000.00
220
175,000.00
105,000.00
Maturity
13
630,000.00
175
200,000.00
70,000.00
14
540,000.00
150
150,000.00
63,000.00
15
594,000.00
165
120,000.00
57,000.00
16
612,000.00
170
130,000.00
43,000.00
17
558,000.00
155
90,000.00
31,000.00
18
504,000.00
140
76,000.00
20,800.00
Decline
19
468,000.00
130
50,000.00
10,000.00
20
360,000.00
100
30,000.00
8,000.00
21
324,000.00
90
20,000.00
7,000.00
22
378,000.00
105
22,000.00
7,500.00
23
288,000.00
80
15,000.00
6,000.00
24
108,000.00
30
12,000.00
2,000.00
Total
13,140,000.00
3650
4,000,000.00
1,709,300.00
Sales
13,140,000.00
Less: expenses
Development cost
3,500,000.00
Advertising costs
4,000,000.00
Other expenses
1,709,300.00
9,209,300.00
Estimate 2 years Net profit
3,930,700.00
Refer to the above forecast table, just only have introduction stage sales can’t cover the expenses cost. And, Nokia is the world's largest manufacturer and most popular in the mobile phone market. It has an existing consumer to buy Nokia’s new product.
6. Conclusion and Recommendations
Base on the above marketing analysis, Nokia has a leader position in the mobile phone market. Most of 40% people will use Nokia’s brand mobile phone. During to the last five year, it’s continuous to innovate the mobile phone to the market. Nokia knows that essence of the future mobile phone is all about speed, high functional and capacity and has successfully implement of the new technology. And then, Nokia has its sights set on creating niche markets in the steadily growing mobile multimedia arena. The company has managed gearing up to roll out a range of multimedia and diverse handsets including Nokia E71.
Nokia E71 has invested in the end of year 2008 and it plan to capitalize on the brand when marketing the diverse mobile and it will extend on Nokia’s image of innovation, quality, market share and value. It’s can follow and match to Nokia’s marketing objective and company’s mission. Moreover, Nokia E71 can reflect a strong market orientation because it has more high technology functions merge together into one mobile phone. Also the price is very important thing to consumer’s concern. It can match to the consumer needs and wants. Finally, Nokia E71 also reflects the fact that product innovation is the key to Nokia’s success. The success of Nokia in the market to date is also the result of appropriate organizational change.
One appropriate recommendation is setting measuring success criteria. The measures of criteria for the four areas are determined below.
i) in terms of expected sales
The paper will make use of a financial equity scoreboard shown as below. The criteria will be two-fold – asset and monetary. Under asset, the scoreboard will measure intangible, conditional and beneficial performance. The monetary aspect will center on stock price performance (optional); return on investment including costs of setting-up of website, online collaborations and convergence with computer superstores; return on sales and cash flow.
From (date)
Estimate- Decision A
Estimate- Decision B
To (date)
ASSETS
1 Intangible
2 Conditional
3 Beneficial
MONETARY
1 Stock Price Performance
2 Return on Investment (ROI)
3 Return on Sales
4 Cash Flow (ROI)
ii) criteria to control performance
The criteria to be included in measuring control performance will be shown below. It will demonstrate the brand strength indicators and how poor or well does the product, Nokia E17, performs in the market.
BRAND STRENGHT INDICATORS
YES/NO
REMARKS
Value-added Attributes
- non-duplication
- distribution
- promotion
- pricing
- customer service
- access
Brand Knowledge
- levels of familiarity
- image awareness
- customer recalls
Brand Preference
- individual motivation
- ability to purchase
- attitudes and behaviors toward consumption
-levels of attachment
iii) increase number of consumers
The document will also predetermine the use of a sales-based measurement in order to distinguish the increase in number of customers. As shown in Fig. 2, the schedule will include criteria of baseline sales, promotional sale and incremental sale via e-markets.
iv) entry to the targeted market
The paper will focus on the effectiveness of entry strategies both general and promotional. The general strategy is to be measure afterwards is on the efficiency of the factory to directly collaborate with foreign wholesalers, retailers and distributors and to internationally-acclaimed Internet providers. The promotional strategies in penetrating new markets will be center on the effectiveness of active promotional tactics specified.
Another recommendation centers controlling and reviewing. To take the maximum advantage of our marketing plan, the progress of the plan will be carefully monitored. The measurement of progress will center on establishing targets and standards, and whenever necessary, corrective actions will be implanted. Deliverables will be closely watched so as the activities generally outlined above could be followed without interruptions. The plan will be reviewed on a monthly basis with the quantifiable aspects of the plan: sales, market share, expense and financial.
7. References / Appendices
Ø The design dimension: product strategy and the challenge of global marketing
Lorenz, Christopher, 1946 / Oxford, UK; New York, NY USA: Blackwell, 1986.
Ø New product development
Lincolnwood, IL, USA: NTC Business Videos, c1989
Ø Total relationship marketing: marketing strategy moving from the 4Ps--product, price, promotion, place of a new marketing paradigm
Gummesson, Evert, 1936 / Amsterdam: Butterworth-Heinemann, 2002.
Ø Creative product development: a marketing approach to new product
Andrews, Bryan / London; New York: Longman, 1975
Ø Principles of Marketing (edition 2, 2003)
Kotler / Adan / Brown / Armstrong (Prentice Hall)
Ø Consumer behaviour
Peter M. Chisnall, London; New York: McGraw-Hill, c1995.
Ø Consumer behaviour and marketing strategy
J. Paul Peter, Jerry C. Olson, Homewood. IL: Irwin, c1993
Ø http://www.wilsonweb.com
Ø http://www.marketingprofs.com
Ø http://www.nokia.com
Credit:ivythesis.typepad.com
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