Communication process of launching new product in the market (Nokia-N07)

North South University

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Final Project paper

Topic:Communication process of launching new product in the market

(Nokia-N07)

Business Communication (Bme-251)

Submitted To Afnan Ahmed

Lecturer, School of Business, North South University

Submitted By Avijit Saha Id# 082-262-030 Section: 01

Letter of Transmittal

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Date: December 21, 2010 To Afnan Ahmed Lecturer, School of Business North South University Subject: Submission of the report. Dear Madam, I feel happy to submit the report that you have assigned me to make as part of my cymes requirement. This is a part of my academic requirement of the cmyse Business Communication. My report is on Communication process of launching
new product in the market (Nokia-07).

This report helped me to get a very good and proper understanding about practical aspects of the real corporate world. I have been planning to gather the complete and updated information from the most authentic sources and accumulating those in as order. The total process was a very interesting one and did give me an insight of the practical sector. Thank you for giving me the opportunity to acquire all this learning in these days. Thank You, Sincerely yours Avijit Saha.

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Acknowledgment
Afnan Ahmed, Lecturer, the adhering teacher of the School of Business, North South University, I have the honor to thank her for rendering me her expertise knowledge and giving the opportunity of practical exposure through this report.

Table of Content
Page No.

05

Executive summary.

Brief Introduction . 06

Situational analysis 06-07 Market Summary ... 07

Target market . Market demography. Market growth.. Market needs Market trends..

07 08 08 08 09

Competitions.................. 09 Service .. 11 09

Marketing Strategy10Marketing objectives.. 11

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Marketing research.

11

Purpose and conclusion .12

References13

Executive Summary
NOKIA is one of the respected and reputed brands in Bangladesh. It has crossed many years of operation in Bangladesh. NOKIA is preparing to launch a new mobile phone Nokia-07, there are many other mobile set company also operating in the current market. But Nokia-07 has such a lots of interesting features that can compete any other mobile phone in existing market. Nokia-07 are targeting specific segments in the consumer, taking advantage of opportunities indicated by higher demand for social networking site enabled phone set in the market, and growing demand of music phone. Launching a new product is very difficult for other existing products. To take place in the very competitive market, a well-planned marketing strategy is necessary. Marketing plan by which the business unit hopes to achieve its marketing objectives through marketing strategy: market segmentation, targeting, and position. To find the best marketing plan, the company engages in marketing analysis, planning, and implementation control. Marketing plan results in making effective market position of a new product. In this project, I have tried my level of best to explore a new product marketing plan through practical implication.

Introduction
I would glad to introduce my new technical product under my existing company NOKIA Bangladesh Ltd.. This is a totally new and different product. This product (Nokia-07) will bring a new experience of using mobile phone. To maintain brand strategy I have decided a brand name of my product. My Products name is NOKIA1 2

07. And my positioning statement is life makes simple. Nokia-07 has many latest features and some exciting features which make this phone set even more attractive.

Situational analysis
In Bangladesh almost added over one million mobile phone subscribers a month in 2007 as the total number rose to 34.37 million at the end of the year, up from 21.77 million in 2006, according to the Bangladesh Telecommunications Regulatory Commission (BTRC). Currently in Bangladesh Nokia, the market leader dominates the mobile market of Bangladesh with a market share of 34%. Motorola, an aggressive number two that is the market challenger attracted a 22% share. Samsung is in the third position with 11% market share, where Sony Ericsson and LG are held 13% share. 20% of market share held by BenQ Mobile and others. The following pie chart shows the relative market share:

17% 3% 6% 7% 11% 22% 34%

Nokia Motorola Samsung Sony Ericsson LG BenQ Mobile Others

Smyce: Gartner Dataquest (Augmet 2006)

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Table 1 Mobile Terminal Sales in Bangladesh to End-Mans in 2006 (%)

Company

2006 Market Share (%)

Nokia Motorola Samsung Sony Ericsson LG BenQ Mobile* Others Total

33.6 21.9 11.1 6.7 6.3 3.2 17.2 100.0

The emergence of new mobile phone has increased competitive pressure. The estimate size of the market for the mobile phone is increasing rapidly. So this huge amount of quality sets is required in the market. To gain market share in this environment, Nokia-07 has carefully target specific market segment.

Market summary
NOKIA-07s market consists of consumers, employees and Business mans who need to communicate exchange and secure mobile phone set on the go. Specific segments being targeted during the fist year include geographic, demographic, psychographic, behavioral variables.

Target market: There are three main targets for my product package

Business peoples Students 1 2

Mass people

Market demographics:

Nokia-07 has no age limitation those who need mobile phone he or she could get this product very comfortably. Male and female has no differentiation of the product. There may be equal mans of male and female for the product of Nokia-07. Middle class groups of people also can buy this product at a reasonable price.

Market Growth: Nokia products could be a strong market growth in the era of digital Bangladesh. The Nokia handsets have the intensive growth opportunities. They identify opportunities to achieve further growth within current Businesses. Here I show my statistics which I have already completed that is relevantly connected with my market growth.

Market analysis
Potential customers 2005 2006 2007 2008 2009 Growth Rate(Total) Business people 40% 43.23% 46.50% 49.50% 51.50% 4%

Student

23%

25%

27.50%

30%

33%

3%

Mass people

35.50%

38.40%

40%

42.90%

44%

2.5%

Total-9.5%

Market Needs:

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i)

Quality products: To compete with the change market Nokia-07 also offer best quality and latest technology. If Nokia-07 fails to provide quality products, the means do not purchase Nokia-07.

ii)

Sales promotion: Sales promotion consists of samples, point-of-purchase displays, trade incentives, and coupons. Sales promotion expenditures substantially greater than the amount spent on advertising. Press conference, Campaign is also part of sales promotion of Nokia-07. Nokia has decided Shah Rukh Khan will be the brand ambassador. He will launch this product in the market.

iii)

Customers satisfaction: Nokia-07 also provides customers satisfaction as well as customers service also. Nokia also took a survey to relevant group of people about their taste, demand and expectation. According to the survey results Nokia-07 made.

Market Trends: Today maximum people need mobile phone and they need mobile
phone for various purpose. Moreover they are talking over the phone with their clients for important and secrete matter. So they need security Nokia-07 knows its importance .so Nokia-07 give them priority and also provide security service. Nokia-07 will provide:
i) ii)

Before sell service and after sell service for customers satisfaction Nokia-07 will provide all the necessary accessories.

iii) 1 year warranty For these reason people will attract more to Nokia-07. In this way market trend will increase.

Competition
Nokia-07 has some competitors like Samsung Corby, Sony Ericson cyber shot etc. Samsung gives these same facilities in higher price and Sony Ericson design is not up to mark. So prediction is that, Nokia-07 will get popularity in the market.

Service
Nokia-07 will provide: 1 2

1) Before sell service and after sell service for customers satisfaction 2) Nokia-07 will provide CD for easy installation at home. 3) Nokia-07 will also provide product outline for customers

Communication Strategy
@TV Advertisement Television is the most effective to create brand assurance. BTV, NTV, ATN, CHANNEL- I are the most popular TV Channel in Bangladesh and all kind of audiences are watched TV once in a day. NOKIA-07 media planning will also include the selection of right program, at the right time for the right group of viewers. @Radio Advertisement A huge number of my targeted consumers are rural based where radio coverage and listeners are large in number. Some of the special sponsored programs will be developed forming the stories of Nokia-07. Recently some new radio station is introduced and getting much popularity especially from younger. So, Nokia-07 is going to use this media for campaign.

@Outdoor Advertisement
Nokia is planning to have an exciting, informative, and actively managed outdoor advertisement. Nokia-07 will campaign via outdoor events like concert, theater etc. There will be wall painting all around the country. @Press Conference

Press Conference advertising in order to advertise Nokia-07 special promotion like consumer offer and to enhance my brand image activity. More often my targeted 1 2

potential consumers go through daily newspapers, magazines so Nokia decided to target this media. And will advertise in this media until my brand image will establish. Nokia will and also tell about the entire features to the customers as well as reporters.

Marketing Objectives

Nokia-07 has set aggressive but achievable objectives for the first and second quarter of market entry.

First-quarter objectives: During the NOKIA-07 initial 1st quarter on the market,

Nokia (BD) is aiming for a 30 percent share of the Bangladesh mobile handsets market through unit sales volume of 10,500 units.

Second-quarter objectives: Second-year objective is to achieve a 45 percent Nokia (BD) target market could be reached with a cost effective media and

share based on sales of two models and to achieve break-even early in this period.

channel.

Financial objectives:
i) ii) iii) Increase the profit margin. Maintain a significant research and development and expense budget. A double growth rate for next five years.

Marketing Research
When research was made, Nokia identified the specific features and benefits that targeted market segments value. From 2005 to 2009 the survey was conducted on this product to help evaluate the Business viability prior to its inception. The survey was a valuable reason for establishing pricing and market needs. Nokia-07 will continue to conduct a survey of existing customers and potential customers on a quarter bases. 1 2

Purpose:
Purpose of doing this project is to know detail information how a new product launch in market and all the process of how Nokia communicate with the general public. And also all the strategy Nokia has taken to promote Nokia-07 in the market. This project helps me to understand overall process of communication and I am try to relate as much as possible to course material which was taught me in class.

Conclusion:
As we all know Nokia is one of the biggest companies in the world. And their promotional and launching programs always have some innovative ideas. Nokia-07 has also use effective process. An effective communication process can make huge difference overall scenario. Thats why most of the renowned company gives much importance to promoting as well as communication process in the market.

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