Marketing Plan for Nokia Wireless Earphone: Analysis & Strategy

This report outlines a marketing plan for Nokia's wireless earphones, encompassing market analysis, SWOT analysis, and the STEEP framework to assess the technological, social, ecological, political, and economic environments. It delves into the product's features, pricing strategies, distribution channels, and promotional activities, including the use of social media and television. The report details a budget for research, raw materials, wages, and promotion, along with a monitoring and controlling strategy to ensure the product's successful launch and market penetration. The plan focuses on leveraging Nokia's brand reputation and addressing market opportunities while mitigating potential threats from competitors and economic factors. The plan is designed to introduce the product to the market with a focus on quality, stylish design, and competitive pricing.

Marketing plan for
introducing wireless
earphone

Culture, traditionsCulture, traditions
 Generally customer in the market looks at a quality of the
product as compare to the price.
 Customer generally loves to buy more stylish product in
today's era.
 As company used to dealt in the global market they need
to be ready to supply large number of the product

Size of the marketSize of the market
 Their is a good open market for the Nokia to enter in the
emerging stage itself
 Their are big competitor in the market but not able to
establish their name in the market
 Low prices are more important than excellent quality

STEEP-STEEP-analysisanalysis
 Technological environment
 Social environment
 Ecological environment
 Political environment
 Economical environment

Technological environmentTechnological environment
 Has good opportunity to use the new technology to
develop the product which was not used by the company in
past.
 Can innovate the product on the basis of modern approach
 Will help the company in improving the production of the
company

Social environmentSocial environment
 India has second biggest population in world
 Their is a good name of the Nokia in the local market as
they preferred the product of Nokia
 As India is the developing country they prefer more
quality product

Ecological environmentEcological environment
 As the pollution level of the country is in negative side
will affect the company
 As number of resources is high will help the company in
manufacturing
 Nokia takes care of environment-friendly recycling

Political environmentPolitical environment
 Political condition of the India is very complex as
economy of the country is at downward side
 Government of India supports the MNC to work in the
country
 Nokia company operates in several countries using
merger, so it has enough experience

Economical environmentEconomical environment
 Economy of India is growing but not at rapid rate
 Has good human resource available in the country
 Government handles the cries very efficiently

SWOTSWOT -- analysisanalysis
STRENGTH WEAKNESSES
 Good goodwill in the
market
 Quality of the product
 Continues development
 Developed supply chain
 Profit margin
 Complicated operation
system
OPPORTUNITY THREAT
 Technology
 Trend in the market
 Competitors
 Government laws and
Policy

Marketing-mix (4P)Marketing-mix (4P)
 Product
 Price
 Place
 Promotion

ProductProduct
Product of the company will be manufactures in own factory
with the standard quality and also product will be launched in
the different colours so that the variety of the product can be
increased.