Marketing Essentials and Strategies

The provided document is a collection of essays, articles, and research papers on marketing essentials and strategies. It includes topics such as the evolution of services marketing, competitive marketing strategies in the UAE, data analysis techniques in service quality literature, and the effects of pricing strategies on consumer purchase decisions. The document also covers social media marketing, advertising, and integrated marketing communication, providing insights into how brands reach and influence fans through social media. Additionally, it discusses community-based livestock breeding programs, and the impact of marketing activities on online tourism purchasing. The document is a valuable resource for students, researchers, and professionals seeking to understand various aspects of marketing.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Roles and responsibilities of marketing manager............................................................1
P2. Explain how roles and responsibilities of marketing relate to the wider organizational
context....................................................................................................................................3
TASK 2............................................................................................................................................5
P3. Marketing mix of IKEA...................................................................................................5
TASK 3............................................................................................................................................7
P4. Marketing plan for IKEA.................................................................................................7
CONCLUSIONS............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing is essentials for every organisation to know about needs and demands of
consumer in order to satisfy them. It is helpful for firm to know about what to produce, how to
produce on the basis of its consumers. It also assists an organisation in developing
communication between the firm and its clients at market place (Lamb, Hair and McDaniel,
2011) . This assignment is in the context of IKEA which is a multinational group that designs
and sells ready-to-assemble furniture, home accessories, kitchen appliances, other useful goods
and services. The manager of IKEA also used this concept of marketing to sell its product and
satisfy consumer’s needs. This report include various process of marketing along with role and
responsibilities of manager.
TASK 1
P1. Roles and responsibilities of marketing manager
Concept of marketingUnder this concept, it has been stated that a company uses marketing
concept in order to increase its sales revenue and profit margins. This concept assists the
manager of IKEA to vary with the functions in which they deal. This concept is developed to
enhance the needs of its consumers. Presently, company is using currents trends such as, the rise
of partner marketing, focusing part, finding the right partner, etc. On the other hand, in future
company make use of various trends such as, build intimate one-to-one relations, get along with
new apps, etc. Under this, there are five concepts of production in which the company deal
which are as discussed below:
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(Source: Bhasin. H, 2018)
Production concept: It is the concept through which a company knows about how to produce,
when to produce and for whom to produce. These three elements help company to produce better
for its consumers. This concept of production is also used by the manager of IKEA to produce
better for its consumers to satisfy them.
 Product concept: Under this concept, the consumers only buy these products which are
affordable to them and of goods quality (Wirtz, 2012). They are in favour of those
products which have innovative features. This, the manager of IKEA also uses this
concept so that consumers are more to buy its product.
 Selling concept: In this, consumers only like that products which are promoted in market
and are advertised in so many ways such as, television, newspapers, social networking
sites, etc. It is also important for the company IKEA to promote its product to increase
sales and profits revenues.
 Marketing concept: Under this concept, company will only produce those products
which are similar with the needs and demands of consumer (Baines, Fill, and Page,
2013). The manager of IKEA used this concept so that company can produce only those
products which are fulfilling consumers’ needs in all way and also attracts them towards
their products.
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Illustration 1: Concept of marketing

 Societal marketing: Under this concept, company deliver its products in such a way
which improves consumer's and society's well being. In this regard, the manager of IKEA
also focuses on this concept and deliver its products which helps to meet present and
future needs of its consumer.
Overview of different marketing process:
Marketing concept analysis the internal and external factors of business to achieve its set
goals and objectives. The process of marketing involves the mission, situation analyses,
marketing strategy, marketing mix and implementation and control to increase sales of products
and profit margins. This is a strategy plan a company involves to satisfy its consumers’ needs
and wants. In addition to this, the manager of IKEA also involves this process to build
coordination and profitable relationships with its consumers. The process of marketing involves
segmentation of geographic, demographic to distribute its products in the areas where consumers
are easily approachable. This also assists a company in maintaining and developing its brand
image at market place.
Roles and responsibility of a marketing manager:
Managers are an important source of company which helps them to achieve goals and
objectives in allotted time frame. They overseas the activities and performances of workers and
provides them training according to their own requirements (Functions and Responsibilities of
Marketing Manager, 2016). Thus, the manager of IKEA also performs various functions such as,
planning, organizing, staffing, directing and controlling. All these functions are essentials to run
an organization smoothly and in a effective manner. Along with this, some important roles and
responsibilities of IKEA manger are as evaluated below:
Roles:
 Interpersonal roles: These roles includes such as, figurehead, leader , liaison which are
important for manager of IKEA.
Figurehead: Under this, sometimes mangers of company had to act as figurehead. In this, they
are often asked to attend ribbon cutting ceremonies and also take visitors to dinner.
Leader: In this role, the mangers of IKEA also have to hire employees, trains and motivate them
in order to compete their task in allotted time frame (Clow, and James, 2013).
Liaison: In this role, IKEA managers have to deal with other people or people outside the
organization.
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 Decisional roles: In this, the manger of IKEA have to perform different roles such as,
entrepreneur, disturbance handler, resource allocator and negotiator. These all roles are
important for a manger in order to take decisions within enterprise.
Responsibilities
 Responsibilities of planning: It is the duty of a manger of company to plan and perform
its activities in an effective and efficient manner so that they can easily met to company
goals and objectives. The manager of IKEA is assigned to perform proper planning in
order to run an organization smoothly.
 Responsibilities of directing: In this, IKEA mangers have to provide guidance,
leadership, directions and support to its employees so that they can perform their tasks
well and accomplish company goals.
 Responsibilities of staffing: It is the duty of IKEA manger to hire and train new
employees whether they are skilled and semi-skilled on the basis of their requirements.
They are also supposed to take interviews of candidates within organization.4. Explain
how roles and responsibilities of marketing relate to the wider organizational context
Interrelation of marketing with different functional departments:
Marketing is an important aspect for every organization to promotes its product in the
market to increase sales and profitability margins. It is base of transferring goods and services
from producer to its consumer. It is essential for an organization to identify the relation of
marketing and other functional departments (Brassington and Pettitt, 2013). In respect of IKEA,
marketing department consistently falls under other functional departments within an
organization which are as evaluated below:
 Finance department and Marketing: Both departments has a direct relationship with
each other because marketing department needs funds to promote its product in market.
So, finance department provides funds to them which are used to carry out their business
activities. Finance department includes, the cash flow statements which involves the cash
inflows and cash outflows of an organization (Lipsman, and et. al., 2012). In order to
provide an overview of firm’s health and future prospectus, some financial tools are
essential to monitor the tasks and they are, balance sheet, profit and loss statements.
 Human resource management and Marketing Under this, the marketing department
helps HR section to find out skilled and best suited candidates which helps them to
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perform their activities properly. This department ensures company whether appropriate
skills and staffing levels are in place or not. It is also important for IKEA to work closely
with this HRM department. This helps company in creating ambitious and competent
sales team, researching and developing new product ideas and also helps to meet
production targets in time.
 Marketing and production: The main relationship of both department is that marketing
department helps to analyse the needs and demands of consumer and provide details to
production department. With the help of this production section can produce product
according to the needs and demands of consumers'.This department helps IKEA to
determine the type and number of marketed products. It also helps in prediction of sales
forecast of each product and product line within organization. This is most evident in
development and design of new products and production facilities on the basis of market
research.
The value and importance of marketing roles:
Marketing roles are very important in building reputation of an organization. Reputation
of a firm has a big impact on sales and revenue. It leads to higher level of consumer satisfaction
and loyalty which results in better company performance. It is helpful for consumers as well as
producers. It tells about the demands, tastes and preferences of consumers so that it is easy for
company to manufacture products (Durmaz, 2011). In context of IKEA, marketing roles and its
values helps company in raising and maintaining the standard of living of community. It is a
source by which company can generate its revenue and income. It also acts as a source of new
ideas and is helpful for development of an economy.
Conclusion regarding interrelationship between different departments:
It is essential to have interrelationship with different departments in order to achieve
goals and objectives of IKEA. It is helpful in building trust, communications and better customer
service. Communication plays a vital role in every department of IKEA. If there is gaps in
communication between departments, then it would become difficult to achieve goals of
company. In additionally, it also effective to run an organization smoothly an in a systematic
manner.
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TASK 2
P3. Marketing mix of IKEA
It is a significant tool that involves right marketing tactics along with effective
implementation. It helps in attracting customers to buy company commodities. For successful
marketing, factors like product, price, promotion, place plays an very important role. It is the
basic step before starting up a new business (Papasolomou and Melanthiou, 2012). It involves
position, target and segment decision associated in context with an organisation. It helps the firm
to understand the needs and preferences of their specific clients. For measuring their
performance in the market place, IKEA compared marketing mix with Walmart which is
mentioned below:
Basic IKEA Walmart
Product IKEA's product range includes a
wide area. All items mainly focuses
on the wants and requirements of
their potential clients. Company
introduces product after analysing
the related local market and
lifestyle. Quality of products is good
and easily affordable. Product range
include mirror, desks, furniture, TV,
beds & mattresses, Baby care
products etc. Due to changing needs
of people product price varies from
one country to another.
As a multi-branded retailing store,
Walmart offers a large no. of products
like books, home, furniture, clothing,
toys & video games, health products,
electronics, paints etc. Products offered
by the firm are of good quality.
Customers are highly satisfied by the
services provided by the firm. Products
like furniture, health items are widely
accepted globally by the potential
customers.
Price Strategy involving price criteria is
chosen appreciably by the
organisation. IKEA provide
standardised product to consumer by
following price ending with 99
Pricing criteria of firm is very
challenging for its rivals as it provides
products at a very low price. This is
because of company's global presence.
They provide commodities around 18%
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strategy. To attract customer
towards price change they put
original and discounted both tag on
products. They introduce seasonal
discount sales to allure customer
towards their product.
less than their rival companies. Terms
like “everyday low price” denotes items
are available for every section of
society. They provide discounted
products through out the year and
implement special offers on festive
occasions.
Place Company has successfully presented
itself in around 48 countries. It has
also opened new stores in small
market area that provides limited
products to clients. Big stores are
wide-open at city centres that
services customer with wide range
of products (Bačík, Štefko and
Gburová, 2014).
Walmart has around 12000 stores
globally. Products are ordered centrally
and then distributed at individual retail
stores. They have stores available in
both urban and rural area. Discount
stores, neighbour markets and super
centres of company are widely present
in different parts of approx 29 countries.
Promotion For marketing and advertising
purpose IKEA uses catalog as tool.
Catalogs are published and
distributed in various markets. They
are also available online. Another
successful strategy for promotion
used by firm is through social
media. Digital channels are also
used for promoting products.
Promotion tactics used by firm involves
bundling of products and low pricing. E-
commerce promotion involves gifting
customer’s special vouchers. Products
are easily available online due to which
consumers buy them without giving
second thought. Terms like “everyday
low price” helps the firm a lot in
advertising their product and brand to
millions of peoples.
People Organisations highly depends upon
its working staff for smooth working
environment. According to 2017
report, IKEA employs approx
Company considers its working staff as
an asset. As employees handle issues
that their potential clients faces.
Workers within the firm are given
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150,000 employees worldwide. Out
of which 140,000 at retail stores
only. IKEA must take care of
satisfying their customers along with
considering the needs of its
employees to increase its brand
reputation around the globe.
proper training to serve their clients
effectively. Approx 2.1 million staff is
working under Walmart globally.
Company provides product and
desirable service to more than 201
million people (Akaka, Vargo and
Lusch, 2013).
Process Delivery of goods and products at
right place within time is the main
requirement of consumers. IKEA's
chooses flat packing tactics to avoid
shipping charges which reduces the
amount that customer needs to pay.
Clients are highly satisfied by
processes opted by the firm at their
retail stores like various payment
counters, procurements, trolleys
availability etc.
Processes available at Walmart store
allows consumers to shop easily.
Facilities like trolleys, product placing,
various modes of paying helps clients in
shopping with ease. Online ordered
products are delivered within a specific
time. Grievance of clients are given
much priority. Processes like
warehousing and procurements are also
commendable.
Physical
evidence
IKEA has significantly opened
approx 420 stores globally.
Company's online website is also
very popular. In 2017, around 2.5
billion users visited the website.
Each retail store owns multiple
departments providing several
products under one roof which
results in the high brand value.
Around 11500 stores are providing
services to the customers in different
nations. Each store of brand provides
several facilities to clients such as
product placement, wide range of
products etc. physical evidence of
Walmart is seen appreciably around the
world (KAUR, 2015).
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TASK 3
P4. Marketing plan for IKEA
Marketing plan helps an organisation to introduce products that fulfils the desired needs
and wants of their targeted clients. Efficient marketing strategy makes customer understand the
merits of services a company is offering (Mihart, 2012). Strategies that does not involve right
market plan never achieves the desired results. Budget and resources required to manage the
company are taken according to marketing plan that the company is considering. IKEA can
easily grab future opportunities by implementing marketing plan.
Overview of the company
IKEA is a Sweden based multinational company and manufacturer of furniture, home
appliances along with kitchen accessories. It is one of the biggest retailer in furniture since 2008.
Company is pioneer in selling modern products keeping in mind the ecological aspect (Baker
and Magnini, 2016). Globally the organisation manages around 422 stores in 50 nations.
Company also own food market and restaurants in various countries. Home delivery of products
is also offered by the firm. As a leading retailer in furniture, company is planning to introduce
some new sections into market. Their main focus is on introducing Sofa cum bed furniture
product.
Vision: To produce quality products for increasing the market shares of company.
Mission: To provide better and modern products for their potential customers.
Marketing objective:
 To introduce eminent service for business class people to enhance market growth by 17%
within 6 months.
 To increase profit margins by 20% in upcoming year.
STP: It stands for segmentation, targeting & positioning. It is a tool widely used in
modern marketing to implement strategies regarding brand and product advantage to potential
consumer market segment (Pappas, 2017). It acts as a guide in formulating other strategic tools
like marketing mix. In reference with IKEA, STP is described below:
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Segmentation: It is a concept which bifurcates the market area into small marketing
units consisting of customers with similar preferences and needs. One segment of market is
completely different from other segment. People having same needs responds likely in changing
situations. In accordance with IKEA, market segment is discussed:
 Psycho-graphic: It is related with the lifestyle of people. IKEA can launch its sofa cum
bed product in accordance with the attitude and interest of high class people and other
variants while considering the needs of common people.
 Behaviouristic: This segmentation is based upon the loyalty factor of consumers towards
a particular brand. IKEA high priced products like sofa cum bed will be widely accepted
by business class as they prefer luxurious products. There behaviour will be same for
other high class products too.
 Geographic: Here market is divided on the basis of geography. People from almost all
geographical sections are interested in home furnishing. In case of IKEA, their new
product sofa cum bed will get wide acceptance according to this aspect.
Targeting: In this aspect consideration is given to a particular market segment out of all
the available segments. In relation with IKEA's objective and people's desire segmentation on the
basis of behaviour is discussed (Desai, Khan and Adil, 2013). Company can target market in
respect to behaviour of people as sofa cum bed will get positive response from business class and
high class people. Because their main desire is to acquire quality over price. They will feel
comfortable in paying the amount because they are loyal towards the IKEA brand.
Positioning: It is mandatory for an organisation to proper position its product and brand.
It is needed to generate the need of product in the minds of people. IKEA to prove merits of its
new product i.e. sofa cum bed can advertise about it through catalog and online promotional
activity. It will increases the sales of firm in a appreciable way (Mueller and et. al., 2015). This
will makes IKEA's product more valuable than other rival competitor's product. Positioning will
acts as a guide for organisation in achieving the desired market shares.
SWOT analysis of IKEA:
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Strengths
 A global leader which focuses on
various segments of market.
 Provide items that are modern and well
designed.
Weakness
 Need to control its cost of products.
 More focus on supply chain is needed.
Opportunities
 Demand for environmental friendly
product is increasing.
 Demand for low priced product with
good quality is more.
Threats
 Recession has slow down the
purchasing power of people.
 Competitors are trying to enter market
with same products in low price.
Marketing budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 6000 7000 9000 14000 5000
Investment 11000 5000 7000 8000 8000
Total 17000 12000 16000 22000 13000
Marketing outlay
Promotion 8000 6000 9000 5000 4000
Sales publicity 9000 4000 11000 11000 7000
Direct selling 10000 8000 14000 12000 6000
Total 27000 18000 34000 28000 17000
Monitoring and Control:
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It is the duty of HR manager of the IKEA to identify the required strategies and improve
the reputation of brand in market. Manager monitors the market requirements and behavior. This
will help the company to perform well and the new products will get wide acceptance in market
(Dudu and Agwu, 2014).
CONCLUSIONS
In the above report is has been stated that marketing is very important tool for every
organisation to promote products and increase its revenue. Concept of marketing also plays an
important role in accomplish goals and objectives. Along with this, the role and responsibilities
of managers are also essential to meet company targets. Additionally, communication is also
effective in maintaining coordination and relationships between different departments which is
important for whole organisation to reach its targets.
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REFERENCES
Books and Journals
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ecosystems approach for international marketing. Journal of Marketing Research. 21(4).
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Bačík, R., Štefko, R. and Gburová, J., 2014. Marketing pricing strategy as part of competitive
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Baines, P., Fill, C. and Page, K., 2013. Essentials of marketing. Oxford University Press.
Baker, M. A. and Magnini, V. P., 2016. The evolution of services marketing, hospitality
marketing and building the constituency model for hospitality marketing. International
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Brassington, F. and Pettitt, S., 2013. Essential of marketing.
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practice. Sage.
Desai, S. S., 2013. An Analysis of the Competitive Marketing Strategies of the Hospitality
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Technology. 2(2). pp.88-102.
Durmaz, Y., 2011. A theoretical approach to the concept of advertising in marketing.
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STRATEGIES ACROSS VARIOUS PHASES OF PRODUCT LAUNCH. Asia Pacific
Journal Of Marketing and Management Review. 3(3).
Khan, M. N. and Adil, M., 2013. Data analysis techniques in service quality literature: Essentials
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Lamb, C. W., Hair, J. F. and McDaniel, C., 2011. Essentials of marketing. Cengage Learning.
Lipsman, A. and et. al., 2012. The power of “like”: How brands reach (and influence) fans
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Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour: effects
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Mueller, J.P. and et. al., 2015. Community‐based livestock breeding programmes: essentials and
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Pappas, N., 2017. Effect of marketing activities, benefits, risks, confusion due to over-choice,
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Online
Functions and Responsibilities of Marketing Manager. 2016. [Online]. Available
through:<https://www.gktoday.in/gk/functions-and-responsibilities-of-marketing-
manager/>.
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Bhasin. H., 2018. Concepts of Marketing. [Online]. Available
through:<https://www.marketing91.com/concepts-of-marketing/>.
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