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Key Roles and Responsibilities of the Marketing of IKEA

   

Added on  2020-06-04

17 Pages5874 Words1330 Views
MARKETING ESSENTIALS

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of the marketing of IKEA......................................................1P2 Impact of roles and responsibilities of marketing in relation to performance......................3TASK 2............................................................................................................................................6P3 Marketing mix as per the marketing plans of IKEA.............................................................6TASK 3............................................................................................................................................9P4 Basic marketing plan for IKEA.............................................................................................9CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONMarketing is one of the most important part of any business organisation. Its functionshelp in boosting the sales of the company. Marketing functions involves various activities suchas promotions and advertisements that takes the product or service to the target market. In thisreport the discussion will be on the essentials of marketing. This report will be dealing with themarketing essentials of IKEA. IKEA is multinational company that deals with designing andselling ready-to-assemble furniture, headquartered in Netherlands. They are the world's largestretailer of furniture since 2008 (Campbell and Martin, 2015). This report will help in realisingthe role of marketing and its relation with other functional units in the organisation. The projectalso deals with the elements of marketing mix that the company have been utilising to achievetheir organisational objectives. Positive and negative influence made on macro environment willalso be demonstrated within the tasks of this report.TASK 1P1 Key roles and responsibilities of the marketing of IKEAThere are many responsibilities that are to be carefully fulfilled by the department ofmarketing developed by IKEA, to perform all the functions related to marketing. There arecertain mission and vision on which a company operates, and marketing department of a firmhelps in taking the product or service to the customers by performing various functions ofmarketing and promotions. For functioning effectively, the department has to develop strategiesand create tactics within it, by performing market researches and developing the productsaccording to the stakeholders, so that they can be communicated to support sales through varioustechniques. Roles and responsibilities of IKEA's marketing department are:Identifying new market and customer: The marketing department of the IKEA alwaysidentifies new customers. On the basis of their demands new markets are considered.This is considered as an vital responsibility of marketing department. It helps inincreasing the growth of company.Identifying new products and services that customers needs: According to thedemands of the costumers, marketing department of the company should be present newproduct into market. This can be done by identifying new products and services. 1

Developing new products: The department is responsible for launching new items atregular interval. It helps the organisation for attracting maximum number of thecustomers. It helps the organisation in expanding their business. Innovative approach: Department of the marketing should be able to implement newand creative approach effectively. It provides competitive advantage to the company andalso helps to present unique image into market. Brand Management: Marketing department functions to portray the positive sides of thecompany to define the company in the target market (Dibb and Simkin, 2013). Theyalso work to communicate the company's mission for which they exist in the market andserve the customer. This will also help in getting more customers and other stakeholdersto get indulged with IKEA in the market. This is an essential function for the organisationas it involves the creation of goodwill and image of the company.Conducting and managing campaigns: An ideal marketing department of a companyhas to focus on the overall course of sales cycle that is takes place whole year long, so asto to compare with the production. Then they develop sufficient materials that will helpin the communication to be done in the market accordingly (Raj, Walters and Rashid,2012). They conduct campaigns that could help in communicating with the target marketabout their product and services. The campaigns that involve social motives are mostlychosen by companies to gain public attention.Managing marketing campaigns: It refers to the process through which companies areable to develop marketing campaign. To implement this activity effectively, IKEAconsiders five steps which include determination of objective, fixing the budget,analysing and selecting agency, managing and monitoring. This helps the organisation inachieving effective results in limited budget. Management of Social Media: Social media is emerging to be one of the best platformswhere the youth can be targeted for marketing. Social media sites like Facebook, Twitterand Instagram are now utilized to the optimum to market the products and services thatIKEA have been providing to the target market. The company has been successful inestablishing their online shopping site which can be accessed by the customers fromhome to see their range of furnitures and other home accessories that are availed to their2

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