An engineer called Fredrik Idestam founded Nokia in 1865 in southern Finland. He is the same person who founded a wood pulp mill and started the manufacturing of paper. Nokia became productive as most industrial enterprises used the cardboard and papers are manufactured. In 1895, Fredrick Idestam handed over the Nokia Company to his son in law. It emerged with other companies and they formed a Nokia group, a 3G phone called Nokia 6650 was the first phone launched by Nokia. It entered the market of India in 1994. Today Nokia is among the leaders of the digital technology such as wireless data solutions, mobile phones, and multimedia terminals. (Nokia and Hewlett-Packard struggle to remain innovative, 2011). Nokia is among the pioneers of mobile information in societies. The mission of Nokia is to make it able for people to connect regardless of the place or time. Nokia has developed effective techniques for engaging, their products are accessible everywhere and at a reasonable price. Sustainability is the ability of a company to maintain its rate of growth and remaining on the market. Nokia has been able to sustain its position in the mobile network market through its innovations and high levels of technology used. It has been able to meet the needs of the different generations (Kimelberg and Williams, 2013).
Innovations of Nokia
Companies do innovation in every business area since there is competition among companies. This creates a competitive advantage as every company wants to be the best in the industry. Nokia has been rated as the leader of the mobile phone market for the last years though it now has great competitors like Apple and Samsung who are threatening its market share. There are various innovations in Nokia, which have been their competitive advantage for a long time. It was the first company to develop a phone with Bluetooth and a colored phone and an improved life battery, which last for more than five hours, talk time and a standard time of 300 hours.
Value chain
The value chain is one of the most important tools for strategic planning. Companies add value to the raw material they use as input in the way. Nokia has benefit to its products through different processes. It is one of the mobile phone companies, which produce long-lasting and quality phones and other electronics products (Luigi and Mihai, 2011). The success of Nokia in the digital economy has been influenced by the integrated value that has been added to Nokia 2019s products, and it is extended to their customers. Nokia has used the value chain as a corporate strategy and a crucial tool of Nokia. The people who are involved in implementing the value chain are the workers, managers and the customers. The value chain is also concerned with the distribution and the supply chain of the company products (Skilton, 2014).
SWOT analysis of Nokia
Strength
The strength of Nokia is the quality products because it has won the quality wards in Europe for several times. It has a strong brand name, which makes it easier for it to launch its new products to the market. The distribution network of Nokia is global which makes it available to all the target customers. The finance levels of Nokia are very high which helps it to make innovations very easily. In addition to the above, Nokia has a wide range of products which cover all sets of customers such as the rich and the poor, the illiterate and the literate and it can easily be used by all sets of people (Muzumdar, 2013).
Opportunities
Nokia has intermediate opportunities. The company can expand its market by catering for all the new target markets and starting up a new market. It also has an opportunity by attracting more customers by innovating the existing products, introducing new products and reducing the prices of their products. More so, it can make its reputation very strong and increase the level of sales through making excessive advertisement of their products. Moreover, it can increase its market share by being present in the CDMA market, which is currently dominated by Samsung, and LG. It also needs to focus more on the Android platform.
Threats
The Nokia Company has a great threat of the increasing competition from competitors, and the increase in the number of rivals in the mobile network industry such as Apple, Samsung, and LG. These competitors take away a great share of Nokia\u2019s market. The competition is the greatest barrier to the growth of the market of Nokia. Some of the products of competitors are at low prices, which are a great competitive advantage over Nokia (Balasubramanian, 2009).
Weakness
The prices of Nokia products are high compared to its competitors through the quality of the products cover this weakness. The latter still remains a weakness because it does not cater for the low-class customers. Some products of Nokia are not customer friendly and they end up being unsuccessful in the market whereby they are considered to have flopped such as micro oven and microwaves.
Marketing strategy
In order for Nokia to achieve all its goals and organizational objectives, it laid different strategies to help in achieving them. This is done through market segmentation, which includes the urban and rural areas, the male and female and all the types of users, such as the light users, medium users and high user. The strategies used by Nokia include:
Product strategy
Nokia put more of its marketing efforts on the manufacturing of handsets. The products of Nokia are constantly enhanced by inventing new models. Nokia has concentrated on produced products of high quality. This has played a great role in increasing the market share in the market of the mobile industry (Kotler \\\" Kevin, 2009)
Branding strategy
There are two types of branding strategy used by Nokia. These stand for the reason that their customers fall into two categories of customers that is the economy seeker and upscale buyers. The company developed its brand of high-level multimedia business and the economic strategies (Chung, 2007).
Promotion strategy
The company carries out various promotion activities as a strategy for promoting its products. It uses it as marketing communication of its products in different geographical areas in the world. These promotional activities play a great role in making product awareness of the products of Nokia (Faisal, 2016).
Place strategy
Nokia has a distribution network in more than 150 countries. The distribution network is a way of using its marketing strategy to increase its network and the development of the market to target the new customers. This place strategy includes the opening of retail outlets, which have a priority of Nokia. Nokia has been able to use its marketing strategies successfully in diverting customers globally. Both the urban and rural people globally use its products. It has been able to customize some of its products. These strategies have been able to increase its sales in the global market through the positioning strategies and promotion strategies.
The sustainability of Nokia
Nokia creates has created technology to connect people in a way that is responsible. They work together to design, invent, and implement sustainable technologies and strategies that work towards meeting the needs of people to make a difference. Sustainability has been very high in the company of Nokia. It is one of the drivers of innovation in the company (Aras \\\" Crowther 2009).
Popular sustainability theory
This theory emphasizes on linking the society, the economy, and the environment. Nokia has been able to manage the issues using a life cycle approach and it gives special attention to substance and material management. Nokia has made a positive impact in different societies by giving them employment and it has contributed to the development of the economy through making it possible for people to connect with each other. Nokia has also helped consumers in reducing carbon footprints (Berrone \\\" Gomez 2009).<\/p>
Early community development theory
This theory states that there should be a link between the society, environment, and the economy. The social and environmental issues are an essential part of the supplying requirements. Nokia has operating systems, which are friendly to the environment components. It has concentrated on working and meeting the needs of the people in different societies. It has influenced the development of societies by providing them with the best connectivity (Bell \\\" Morse, 2008).<\/p>
Scientific theory
This theory talks about the three circles, the biggest being the environment, the second being social and the economy circle relies on the social sphere. Nokia uses the system approach. It has improved people\u2019s access to information and communication and abolishing the limitations of speech, vision, hearing, and mobility.
The responsibility theory
The responsibility theory involves four obligations that are the economic responsibility, social responsibility, and the ethical responsibility.
Economic responsibility:
The Nokia Company has the responsibility of making money and helping other people survive in its business. It has also helped in improving the lives of people since its employees a wide range of people. It is responsible for the economic well-being of people. The legal responsibility, Nokia Company works according to the rules and regulations in its business. Nokia has made good social efforts to obey the laws of business worldwide, more so it operates according to the culture of every place, doing what is right according to the cultures of different societies (Constantinescu \\\" Kaptein, 2015).
Critique
Though Nokia has been successful in its strategies, it has not been able to meet the technological expectations of the customers. It has not focused so much on the Smartphone network, which is the current need of the people globally. This is why the apple company has taken over the mobile industry as its leader recently since it has focused on developing the Smartphone network. This is because it meets the needs of the current needs of the customers in the digital world. Moreover, catering to the future needs of customers and workers is also among the company's 2019s strategies.
Conclusion
Nokia has been among the best and leading mobile network companies, however, today due to many companies, which have joined the mobile industry company, the sales of Nokia have reduced. In addition, its shares in the market have reduced. Nokia should develop new products to increase its shares in the current market as many companies like Apple, Samsung, and Android products.
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