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Marketing is an exciting and challenging occupation and the most important task that marketers do is in developing marketing plans. To develop a sound marketing plan as the blueprint for a company's marketing activities, and to help detail the strategies and tactics that will be used to achieve specified objectives in a given time period a thorough evaluation of the marketplace is required. This is where an evaluation of the marketplace can identify the opportunity for the organization. Accordingly, students will develop their understanding of marketing through analyzing, researching and identifying an opportunity for a real product/ brand for this assessment piece. This is an assignment to develop critical thinking and evaluation skills. The length of the analysis is 1600 words not including cover sheet, marking rubric and appendices. Students will have “free choice” to choose what brand in the current market place they wish to reposition/rebrand. Students must consult their convenor no later than week 3 on their brand choice to ensure its appropriateness. Please note that the cover sheet must be attached as the first pages of this analysis. Further details will be provided in the assessment folder on learning@griffith.
Criteria & Marking:
A marking rubric is located under the assessment tab of the course site. The marking rubric is weighted according to the individual sections of this assessment task and includes sections such as:
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Nokia already moved out of the Top 100 list of most valuable brands (Crutchfield, 2012). Nokia has already faded out in the market of Smartphone which is now one of the leading preferred markets of the consumers. This report will develop a repositioning market plan for Nokia and detail the tactics and strategies that can be utilised to achieve objectives by evaluating the market situation for Nokia.
Nokia, the Finnish Company had issues in adapting the market changes. It failed to recognise that Apple iPhone is developing a new era in the Smartphone market in the year 2007. Smartphone offered by Nokia was running on its own software 'Symbian', which did not prove to be successful for Nokia. This made the sales of Nokia products to decline to Android & iPhone platforms. This made Nokia lose its leadership position in the smartphone market and lose its customer base. The graph below indicates the slowdown in Nokia's market (Middleton, 2010).