Since Stephen Elop became Nokia’s CEO in September 2010, Nokia’s stock price has nosedived. That’s an impressive feat; Nokia’s stock was going up steadily at that time.
Now Microsoft bought Nokia—presumably to save the biggest Windows Phone manufacturer from looming bankruptcy.
But what made Nokia fail? After all, their products aren’t worse than the competitors’ products.
Their value proposition and marketing strategy, however, are shining examples of mistakes you just can’t afford to make.
Nokia’s marketing people don’t seem to understand what their value proposition is—what are the best reasons people should buy their products. And when you don’t know what your marketing should focus on, there’s little chance for it to work.