This report highlights the importance of establishing a strong brand for competitive advantage in turbulent industries by creating an emotional connection with consumers. The brand should revitalize itself by conforming to the changes. Society and culture are interlinked with brand image and brand resonance.
Brand resonance can be built through a rational or emotional connection between brand and consumer. Brand resonance pyramid models are the steps in building a brand from bottom to top. According to Cherichi (2019), this route is taken through building identification of brand awareness, establishing an emotional or rational brand building, and focus on brand performance on psychological or social needs. The block represents identification, meaning, response, and relationship. The model design as the highest level of the pyramid only to reach once the all building block is addressed. This leads to brand resonance with the transformation from awareness to active loyalty. Companies can build competitive advantage by creating superior emotional connections with consumers. Brand revitalization focus on changing existing perception and attitude and association through entailing market position for the brand. According to changes in consumer taste and preferences impact the emergence of new technology and competitors that affect brands fortune. The brand community can be organized for spontaneous response creating a forum voluntarily. Third-party appraisals and advertising communication impact the advertising and communication efforts in the international market. Brand reinforcement is the process through rand convey its meaning through implementing brand extensions, innovation, and compelling offering (Palmatier 2017). Brand consistency is critical to brand reinforcement by maintaining strategic thrust and direction of the brand (Raut 2019)
Nokia is a Finnish multi telecommunication brand founded in the year 1865 and is a consumer solution provider (Nokia 2020). Additionally, it provides service to 6.5 billion subscribers and an industrial network worldwide.
Nokia was most selling mobile handset manufacturer in the year in 2003 gradually from the year 2011 the brand couldn't revitalize itself and suffered brand positioning and building consumer connection for loyalty and resulted in a drop in the mobile phone segment by 90% in the past years (Nokia, 2020). The company has been manufacturing mobile handsets and category options such as Home TV, Wi-Fi, Smart TV, and audio with technological as communication providers.
Brand salience – The brand has been fairly recognized around the world. Its awareness quotients have not been able to manage top of the mental status in phone sales. The company shall design advertisements and social media posts for regular updates and newsletters for its technological updation and products designed. This will create positive awareness about the brand and its presence in the market
Brand imagery- The brand has strong value and ethics. The brand is recognized as a trusted network for the phone with its phone durability and camera qualities. The company is emerging as a technology solution. The brand can highlight innovation with key products by placing action buttons for increasing market sales of products using hashtag #innovatebynokia. The use of social media for polls and survey design for lucky winners and giveaway will increase brand awareness. Partner channel tie-up for product solution by Nokia will create a distinctive image with an interactive system
Brand performance- The brand performance can be improved with design features and adaptability for common platforms such as android for customer reach and touch design to match flagship phone across the world in the current segment of mid-range phones. Nokia should leverage a sense of security and entitlement with its high definition service as likability will be built through the image. Nokia with advanced product development in the current category can build strong design and quality with price positioning for mid-size segments (Forbes 2019).
Active engagement- Nokia community for sharing brand videos, reviews, contests, and recommendations will increase a sense of efficacy towards the brand and gather high engagement and customer loyalty towards the brand. The loyalty points can add to customer stickiness to the brand.
Currently, the brand is in decline stage in phone segments in its product lifecycle as the brand is unable to meet the customer's current technology demand (Forbes 2019). The company can be late adopted to android and change consumer perception, distribution channel, and price point. Nokia should focus both on the store and offline sales. The Android adaptation has to be promised for Nokia as a fast processor and part of the Snapdragon ecosystem. The pricing strategy will be a game-changer with a potential market leader’s position in under 15000 segments with touch phones.
Brand awareness through social media and push notifications by newsletter are short term solutions. Brand loyalty can be sustained only through new design and technology shift by the company. Nokia has a diverse product range manifesting innovation design with the partnership will not work globally as its not sole manufacturer. Designing the distribution cycle will be cost-intensive with fulfillment Centre and logistics cost. Brand performance and new product launch with calendar updates can be used media strategy of product awareness.
Re-use a phone initiative - Brand history and association with developing the brand with zero-emission products for a global base station with less energy use up to 45% (Nokia, 2020). The brand can start the initiative to re-use a phone. This can impact suitability and brand imagery will have a positive influence. The phone can be recycled for applications for performance products and technological assessments. The carbon index will be reused and will serve the planet and people. The sustainability for co-creation of value will act as an institutional impact on the global center and brand reputation.
Power of Nokia- The crowd funding program can positively impact the community and enhance their living standard. Nokia as peer to peer service can support under privilege community for technological assistance in preliminary education. This will encourage the social conscious of the existing user and their support and starting the local initiative.
Nokia. 2020. About us. Available at https://www.nokia.com/about-us/. [Accessed on August 13, 2020].
Palmatier, W., V. Kumar, and Harmeling, M.C. 2017. Customer engagement marketing. NY, USA: Springer publication
Raut, R., Brito, Q., and Pawar, A. 2019. Analysis of Brand Resonance Measures to Access, Dimensionality, Reliability, and Validity. Global Business Review. 21(1), 15-67. DOI: https://doi.org/10.1177/0972150919846964
Forbes. 2019. Nokia’s Customer Focus Is Bringing Back Smartphone Customers. Available at https://www.forbes.com/sites/charlesrtaylor/2019/12/01/nokias-customer-focus-is-bringing-back-smartphone-customers/#5d4508663fa7. [Accessed on August 13, 2020].
Cherichi, R., Bosco, D., Mazzucchelli, A, Chiacchierini, C. 2019. Enhancing brand awareness, reputation and loyalty: The role of social media. International Journal of Business and Management.14 (1).pp. 215-225.
Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Management Assignment Help
Proofreading and Editing$9.00Per Page
Consultation with Expert$35.00Per Hour
Live Session 1-on-1$40.00Per 30 min.
Doing your Assignment with our resources is simple, take Expert assistance to ensure HD Grades. Here you Go....