“(1) Select a specific firm in business markets you are familiar with and (2) analyse market segmentation strategy of the firm in business markets (3) Some firms follow a singlestage segmentation approach using macro dimensions

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others use both macro-dim" The case study of the Nokia Company and its market segmentation strategies follow in the second section of the paper. The final section of the paper offers conclusions and recommendations that the Nokia Company can adopt in an effort to be more successful in the market.
The Nokia Company has existed since the 19th century. Nokia Company, founded in 1865 in Finland, focused on the manufacturing of pulp and paper. After the Second World War, the company exhibited interests of expanding beyond Finland. Therefore, it made several acquisitions in 1966, which led to the formation of Nokia corporations. The company then expanded its industries to include electronics, cable operations, rubber footwear, and tires. In 1967, the company sets up a specific division focusing on data processing, communication systems, and industrial automation. This division would later expand into other subdivisions focusing on the manufacture of different items. One of the divisions formed during this time focused on the manufacturer of mobile phones (Bhutto 2005, p. 235). In the 1990s, the company made an impact in the mobile phone industry by releasing innovative products that led to its leading position in the market. Over the years, the company has remained highly competitive, and a leader in the phone industry until 2012 when Samsung took over the leading position.
In 1998, the company became a global leader in the manufacture of mobile phones. One of the aspects that have propelled the Nokia Company to its recognizable success is proper market segmentation. Market segmentation is of critical importance for any company that intends to succeed in the industry. Modern business strategies have moved far beyond the old strategy of producing products targeting everybody in the market. The old marketing theme that “one size fits all” has proved ineffective compelling businesses to undertake a rigorous study of the market and identify a