The Brand Recall
One of the most important introductions to the Indian market was dual-SIM in GSM technology, a few years back. The result: Nokia started to loose market shares to Karbonn and Micromax. Even the CEO of the Finnish company came for a visit to understand the necessity of dual-SIM in the Indian Market and the resultant is that Nokia has started to regain again, albeit slowly the market share. Currently, the dual-SIM phone share of Nokia is 19% of this niche market.
The solution to the question whether Nokia entered this market late or early is redundant. The losing numbers definitely indicate that Nokia needs a definite plan to regain share.
Here is some food for thoughts for Nokia to reassemble the lost pride:
- Never loose on brand equity. By this, I mean that the brand awareness has to be maintained at par level as before, by allowing high paid endorsements. Like in IPL5, it does to the team of Kolkata Knight Riders.
- Find out which section of the crowd is buying the other set of mobiles. Is it urban, semi-urban or the rural sector?
- Which of the 4Ps are affecting the sale and the revenue? Price, Promotion, Product, or Place? If it is price, I would recommend that Nokia reduces the prices which allow a greater volume to enter the Nokia’s share, in terms of sale. The optimum price level that does not cannibalize sales volume.
- If it is promotion, then the brand equity must be maintained through brand recall. Nokia has to invest time to time in the endorsements in TV, Net, and other effective media. If the player loses the brand recall in the mind of potential customers, then it is going to tax them more to create another image in the minds of the potential customers.
- If the product loses its weight as mentioned in the dual-SIM area, enough R&D has to be done for Nokia to find another niche segment for the market. Given its greater R&D capacity, it can out weight other players. Probably, that can be addressed by interacting with the end-users.
- If the specific handsets get greater sales in a particular segment of this vast country, it makes sense to advertise in this part only. It does not make sense to advertise in other parts of the country.
- Wait for the right time. Even if Nokia can sustain the loss for some time, it can come up with customized products in certain parts of the country. Let us say, the northern sector is susceptible to the need of music, so it does make sense for a pre-loaded songs of current movies, along with a long life of the battery.
- Service to your phone or the service at a local shop. It counts, the customer experience counts. I would probably suggest a CRM tool in the mobile handset as a necessary input to the immediate senior, across all the layers of the company to boost sales. Of course, the simple ROI calculation has to take place before, before endorsing a CRM feature.
- Introduce certain mobile apps in the handsets for specific regions as an OEM. With millions of apps getting developed per year, it becomes wisher to filter some and allow that to percolate the market DNA.
- New features on the phone as an addendum to the last version for a small survey of the market are a must. People should not buy products at the end of the product life cycle; the sale dips.