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Marketing Essentials Plan of of IKEA

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Added on  2020-10-22

Marketing Essentials Plan of of IKEA

   Added on 2020-10-22

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Marketing essentials
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Table of ContentsINTRODUCTION...........................................................................................................................1P1) Discuss the roles and responsibilities of marketing functions.........................................1P2) Discuss the different types of organisational functional area and how it is relates withmarketing functions ...............................................................................................................3TASK 2............................................................................................................................................4P3) compare the ways in which organisation use component of the marketing mix to achieveoverall businesses objectives .................................................................................................4TASK 3............................................................................................................................................6P4) Marketing plan of Ikea organisation ...............................................................................6CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10
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INTRODUCTIONMarketing essentials is very important, it is the way of increasing their sales and to standin the market and compete with their challenger. It is vital tools in the modern businessescorporations it includes demand of the customer, making profitability ratio and makingmarketing strategies (Pappas, 2017). Ikea is the famous company it sells their furnitures items,kitchen product. This organisation main objectives to sell their product in effective manner andincrease their sales and maintaining their relationship with consumer through providing qualityof product. This report will explain role and responsibilities of the marketing functions and it isalso define roles of marketing function in different area and also providing the marketing mixwith seven p's it is also very important for generating the profitability ratio of the businesses.P1) Discuss the roles and responsibilities of marketing functionsMarketing functions is play a vital role in promoting the business of IKEA organisation,it provides the several types of opportunities of the businesses. It defining the image of thecompany and conducting campaign management means they produce their product in accordingto customer demand. This organisation is also contributes their efforts and managing socialmedia like they create own social media page and they continuing manage their account andpost new product image on online. It is very helpful for expanding their business whole marketor nations (Pappas, 2017). This organisation marketing department also play very crucial roleson increasing the sales of the businesses. They also providing the satisfaction to their customerwhile using new methods of marketing functions. The responsibilities of the marketing functionsto responsible for overall growth of the corporations. Management of IKEA enterprise alsoresponsible for increasing their share, making effective long term strategies of the businesses.There are seven functions of marketing given in below diagram, these functions are very usefulto promoting the IKEA businesses.1
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Market research: it is one of the important functions of marketing it helps to collectinginformation regarding IKEA organisation products sales. It also helps to gather their targetconsumer, this company sell their products in according to customer demand (Jacobs, andet.al . 2017). They collect some date from the market and try to improve their services.Product development: it is consisted with additional benefits to their consumer, IKEAcompany focus on growth of their product (Baack, and et.al, 2013). They involve modificationof an old product and producing new variety of items for fulfil their customer needs. Thisorganisation main motive to develop their existing product services with using new marketingtechniques.Distribution: IKEA main aim to increase their sale so they use distribution channels meansdistributing their product services in local area as well as whole nations (Hanlon, 2014). Thisfunction is very useful for expanding the sales of businesses and if every company use thisfunction so they achieve their goal of the corporations.Financing: it is also very important function it shows the revenue and income of the IKEAorganisation and it is also helpful to managing the funds of the corporation (Baack and et.al,2013). It is helpful for future forecasting and estimated the coming profit of the businesses.2Illustration 1: marketing functions Source: (seven function of marketing management, 2017 )
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