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Nokia Denmark R&D Strategy Enhancement for Market Expansion

Explore how Nokia Denmark can adapt its R&D strategies to better meet consumer needs through the analysis of PESTle factors and SWOT analysis. Discover alternative approaches, recommendations, and the implementation plan for an effective Joint Research and Design overhaul to innovate in camera technology and enhance market presence.

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Nokia Denmark R&D Strategy Enhancement for Market Expansion

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  1. Redhawks Consulting Nokia Denmark “Empower[ing] everyone to share and make the most of their life by offering irresistible personal choices.” - Nokia Corporation Vision Statement

  2. Table of Contents • Introduction • Analysis • Alternatives • Recommendation • Implementation

  3. Introduction • How can Nokia Denmark modify its R&D strategies to most effectively meet the needs of consumers?

  4. PESTle • Population • 401 million cells phones shipped in the fourth quarter of 2012 • Economic • Increasing middle class population • Globalizations making interconnectivity more important than ever • Societal • Increased need for cell phones within the global society • Increased desire for high-end products • Technology • Prevalence of smartphones in cellular industry • Constantly evolving industry .

  5. S.W.O. T. .

  6. Porter’s Five Forces New Entrants • Moderate • Economies of Scale in R&D • Established base of worldwide competitors • Local Markets breed regional competitors Industry Competitors Supplier Power Buyer Power • Strong • Mercy of consumer preferences • Brand preferences • Market volatility • Consumers can play brands off of each other • High • Electronic components require specialization • Prices dependent on supplier choice • High cost to switch suppliers • Very Strong • Numerous competitors • Emergence of smartphone competencies in competitors • Other firms have experienced • higher recent growth Substitutes • Few • Alternate product availability is limited • Nothing exists that provides the information power in the portability of a small component .

  7. Key Success Factors • Utilization of Core Competencies • Camera Technology • Customization • Rich Innovative History • Long Term Sustainability • Increase Market Size • Fiscal Feasibility .

  8. Decision Gate

  9. Alternatives • Alternative 1 • Marketing Initiative • Focus on marketing Symbian to under-reached markets • Alternative 2 • JRD Overhaul • Optimization of competences in cameras and other technology areas • Alternative 3 • Exit Smartphone Market • Retain competency in mobile phones & Nokia Siemens Network

  10. Alternative 1: Advertising Initiative .

  11. Alternative 2: JRD Overhaul .

  12. Alternative 3: Exit Smartphone Market .

  13. Weighted Comparative Strength Analysis .

  14. Weighted Comparative Strength Analysis .

  15. Recommendations Alternatives 3: Joint Research and Design Overhaul .

  16. Implementation • Joint Research and Design Overhaul • Short Term • Relocate 5 Nokia Denmark Engineers to Foxcomm location to oversee R&D of lower tech firms • Hire camera development expert team for Denmark location • Conduct market research on niche technology needs • Long Term • Begin product release of innovated camera design on phone • Initiate an all encompassing marketing plan emphasizing revolutionary camera concept to effectively target current markets and expand into under-utilized markets • Begin other innovative research based on market research .

  17. Nokia: JRD Overhaul Short-term 3 months 6 months 9 months 12 months 15 months 18 months .

  18. Nokia: JRD Overhaul Short-term 3 months 6 months 9 months 12 months 15 months 18 months .

  19. Contingency Plan .

  20. Redhawks Consulting Nokia Denmark “Empower[ing] everyone to share and make the most of their life by offering irresistible personal choices.” - Nokia Corporation Vision Statement

  21. S.W.O. T.

  22. Redhawks Consulting Nokia Denmark “Empower[ing] everyone to share and make the most of their life by offering irresistible personal choices.” - Nokia Corporation Vision Statement

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