Marketing Strategy Explained: The Story Behind Nokia’s Brand Identity Change
Do you ever wonder why companies spend so much time and resources redefining themselves? From altering its mission and vision to overhauling its branding elements, it’s clear that these changes are not taken lightly.
But why do companies bother with all this? In this article, we’ll explore the reasons why companies make big changes using Nokia’s brand identity change as an example. Get ready to dive deep into the world of corporate identity and discover the benefits of making big changes
Why do Companies Rebrand themselves?
In today’s era, every company understands the need of building a brand and is very cautious about how people perceive them. The fundamental reason behind this is that companies that focus on building great products but not great brands will face competition over time and ultimately struggle in the marketplace. They tend to focus on short-term results and do not take the long-term view. Brands, not products, rule the marketplace.
History of Nokia
Let me tell you about Nokia, the Finnish multinational corporation that’s been around for over 150 years! It all started back in 1865 when Nokia was just a single paper mill operation. But as the 19th century progressed, the company expanded into different products and industries.
Fast forward to 1967 and the Nokia corporation was officially formed. As technology advanced in the late 20th century, Nokia saw an opportunity and capitalized on the increasing popularity of computers and mobile phones. In fact, for a whole decade starting in 1998, Nokia was the biggest vendor of mobile phones and smartphones worldwide!
But unfortunately, Nokia’s success didn’t last forever. In the later 2000s, the company suffered from poor management decisions and saw its share of the mobile phone market drop significantly and later in 2014 sold their entire mobile phone business to Microsoft.
Nokia’s Brand Identity Change:
Nokia, once a household name in the world of mobile phones, has undergone a major transformation in recent years. With a sharp focus on its core competencies and business areas, Nokia has been divesting itself of non-essential businesses and shifting from B2C to B2B marketing.
But despite this strategic shift, people’s minds still tend to associate Nokia with mobile phones. So the company has taken bold steps to change its brand identity and purpose.
After nearly 60 years of using its iconic logo, Nokia has reworked its brand identity in a way that reflects its vision of achieving global leadership. Nokia’s logo change is more than giving it a new face it represents Nokia’s determination to focus on businesses where it can truly excel and make a meaningful impact in the world of telecommunications infrastructure, technology development, licensing, and IoT.
In the words of Nokia’s Chief Executive, Pekka Lundmark, “The signal is very clear. We only want to be in businesses where we can achieve global leadership”.
If you thought Nokia is just about mobile phones, think again. This is a company that is on a mission to shape the future of telecommunications and technology in ways that will benefit all of us.
At Luxeveda, we have helped several brands with brand identity services, digital transformation, and brand management. This is our core competency and we take pride in providing customized solutions to our clients. Our team of experts is committed to delivering high-quality services that meet each brand’s unique needs.
Contact us today to learn more about our services and how we can help you achieve your business goals.
March 27 2023