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IKEA Marketing Essentials

   

Added on  2020-12-26

15 Pages4880 Words445 Views
MARKETING ESSENTIALS
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Roles and responsibilities of marketing department.............................................................1P2 Roles and responsibilities of marketing relate to organisational context...............................4TASK 2............................................................................................................................................5P3 Various organisations apply marketing mix to the marketing planning.................................5TASK 3............................................................................................................................................8P4 Basic marketing plan..............................................................................................................8CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONMarketing activities are important of every organisation to build good communication andrelation with customers. It is the duty of the management of organisation is to adopt differentmarketing approaches which contribute to attain long tern sustainability in the market. Marketingactivities have the direct impact upon the sales and profit of organisation which is enhanced tothe optimum level through spread awareness among the customers about their different offeringsand special features of their products (Baker and Saren, 2016). All such activities are performedby the marketing department of the organisation. There are many other activities which areassociated with marketing department functioning includes development of the product,establishment of effective distribution channels and determination of the price of products etc.IKEA is multinational retail organisation which designs and sells different kind of products. Thisorganisation was established in 1943 and provides the products and services in many countries inall over the world. The different kind of products in which this organisation deals includeskitchen appliances, furniture and home appliances. It is recognised as one of the biggest retailerof the furniture.In the present report explain about different kind of roles and functions of the marketingdepartment and interrelation of the marketing function with other departments. Also,development of marketing mix of this organisation with another same industry organisation andformulation of marketing plans which assist the employees in accomplishment of theirobjectives.TASK 1P1. Roles and responsibilities of marketing departmentOverview of IKEAThis organisation was founded in 1943 in Sweden. It is retail organisation whichconducts their business activities across the boundaries of their domestic nation. In terms ofworkforce, they have large number of employees to provide their final products to en customers.This organisation performs two types of actions which are designing and selling of the productsin which they deal. The different kind of product lines under which it provides their productincludes furniture, home accessories and kitchen appliances. In 2008, this organisation isrecognised as the largest furniture retailer in world. The organisation is able to earn the large1
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number of profits because it provides innovative furniture and home accessories which are Ecofriendly. For attaining sustainability in market many initiatives are taken by the management oforganisation regarding controlling of their costs, making of their operations more effective andefficient and development of the products according to the preferences of customers (Bastable,2016). This will provides the opportunity to the management of organisation is to attain controlover the process of their products which assist in the global expansion of their businessoperations.MarketingIt is refers as the activities which are provided by the marketing department of theorganisation regarding transferring of their products to final customers. One of the mostimportant functions which is performed by the marketing department is to assess the conditionsand trend which is present in market. On the basis of the analysis of such trends, preferences ofcustomer are identified. This will provides the opportunity to the management of organisation tobuild the new features in their products which satisfies their different needs. This will alsoincludes determination of the number of competitors prevail in market and the strategies adoptedby them. It enhances their decision making power which contributes in the process offormulation of effective strategies which drive their competitors out of the market. It isconsidered as marketing is the combination of 4P’s. All such different kind of P’s and their roleis defined below:Development and selection of suitable product as per the needs of customer and markettrendsIdentification of the most suitable price which helps to attract the large number ofcustomers through influencing their buying behaviour (Desai, 2013).Establishment of the more appropriate distribution channels which provide the functionregarding timely distribution of their product to different stores in the different countrieswith the help of suppliers.Formulation and adoption of effective promotional strategy which helps to aware thecustomer about their different offerings and product linesOne of the important aspects of marketing is about the promotion o the existing and potentialproducts of organisation. This is most useful method for IKEA to expand their operation inmarket and improve their market share through improving their customer base. There are2
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