(solved) Marketing Essentials - IKEA
Added on 2020-10-05
14 Pages3894 Words286 Views
MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of marketing functions...........................................................1P2 Roles and responsibilities of marketing relate to wider organisational context....................3TASK 2............................................................................................................................................4P3 Ways in which IKEA organisation applies the marketing mix to marketing planningprocess.........................................................................................................................................4TASK 3............................................................................................................................................7P4 Basic marketing plan for IKEA.............................................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12.......................................................................................................................................................13
INTRODUCTIONMarketing refers to developing, delivering and promoting services and products tobusinesses and customers. It is an activity, processes and set of institution for developing,exchanging, communicating offerings which have some value fort partners, consumes, societyand partners at large (Askeland and Wright, 2013). It is a responsibility of manager to conductall marketing related activities in an effective manner, this project is based on the IKEAorganisation. It is a multinational group that prepare and sells ready assemble kitchen appliances,home accessories and furniture. In this given report discuss about the roles and responsibilitiesof marketing function for firm. Ways under which IKEA company applies marketing mix toprocess of marketing planning in order to attain business goals. Firm develop the marketing planfor doing all marketing related activates or operations in systematic manner.TASK 1P1 Key roles and responsibilities of marketing functionsMarketing is consider as an important activity for business because it helps in exchangingas well as delivering positive relation which their customers by providing them quality services.As it is vital for business owner to understand all the function of marketing to execute all theactivities in most effective manner. This will contribute in attaining set goals and objectives in anappropriate time frame. AS there are some major roles and responsibilities of marketing functionin IKEA which leads in grabbing customers attention towards its products and services. All theseare as follows:Marketing information management: MIS consider as an important function whichhelps in gathering as well as collecting information about market and customers taste as well.With the help of this function, manager of the marketing department to develop effective reportof entire activities of operations. This will lead in delivering quality products and services inmarket place and at the same time also aid in capturing customers attention by fulfilling theirneeds (Blacher-Wilson, Mense and Richardson, 2011).Distribution management: This marketing function is also an important for businessorganization which helps in managing all the products and services for attaining desirable results.In context of IKEA, it is important duty of manager to understand marketing needs in order to
serve their products and services at global level. This will contribute in capturing larger marketshare from its rivals by delivering right products to right customers. Product and service management: It is another important marketing function for firmbecause it contribute in managing products and services. As products are tangible in nature sothat it is important duty of manager to manage all the products effectively. For accomplishingpositive brand image, IKEA should deliver quality products to right customers by understatingtheir needs and wants. As it helps in increasing profitability level of the company. Pricing: It is an important term which change by the company to its customers forexchanging specific products and services. As it is important for IKEA to use effective pricingstrategy for maximizing the portability level and at the same time also reduce the any kind of riskfactors (Clow and James, 2013). Along with this, company should set their product priceappropriate in order to grab customers attention towards its quality services.Promotion: For attaining higher success at market place, this function play vital rolethrough which firm promote their products and services in market with the aim of enhancingsales. As a famous company IKEA, they use effective promotional tools to invite larger numberof customers towards its new and innovative products. This will contribute in capturing marketshare form its competitive at market place by establishing positive brand image. Selling: It is important function for company in which customers pay money forexchanging goods and services in market place. With the help of this, company easily generateprofitability level at market place. In context of IKEA, they serve their grocery items to buyerswith the purpose of attaining productivity level at market.Financing: Financial fund is important component for every department to execute entireactivities in an effective manner. In this marketing team define requirement of fund to productsquality products and services. Along with this, marketing functions is also vital for firm toincrease profitability level of the company by using effective process. In context of IKEA, forattaining better success at market place, company should keep proper funds to make qualityproducts and services.
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