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Marketing Essentials Assignment IKEA (Solved)

Added on - 08 Dec 2020

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Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1: Roles and duties of marketing division.................................................................................1P2: Interrelation of marketing division with other organisational departments along with itsroles and responsibilities.............................................................................................................3TASK 2............................................................................................................................................4P3: Application of marketing mix...............................................................................................4TASK 3............................................................................................................................................6P4: Marketing plan of IKEA.......................................................................................................6CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing is defined as the activities performed by company related with buying andselling of products and services which consists of advertising, selling and delivering products tofinal customers. It assist company in maintaining healthy relation with the targeted peoplethrough identify market needs and requirementsand fulfilling them within shorter period of time.The present assignment is based on IKEA which is engaged in providing wide range of productsincluding kitchen appliances, furniture and home appliances throughout the world. It ismultinational retail organisation which came into existence in the year 1943. The projectdescribes the functions of marketing along with the interrelation of marketing department withothers divisions. The project also explaining the marketing mix of two organisations which isengaged in similar sector. Along with this, marketing plan of IKEA is also prepared under thisreport in order to assist employees to give their best efforts for the betterment of an organisation.TASK 1P1: Roles and duties of marketing divisionOverview of IKEA:IKEA was first settled in 1943 in Sweden as a small-sized retail association and atpresent it moves toward becoming one of the perceived retailer associations which is engaged ingiving wide variety of products; for example, furniture, and home frill and kitchen usageproductsall over the world. Because of selling innovative furniture and home products which areeco-friendly, IKEA can effectively create tremendous range of items. In the year 2016, it hasbeen generated over €35.074 billion as income of company. In order to exist in rivalry market forlonger time-frame, the organization has executed numerous activities, for example, controlling oftheir costs, making operations more successfully to build up their items according to therequirements and needs of clients. This will drives them in growing its business to a huge scaleand win greatest revenue consistently(Arguello, 2013).MarketingIt refers to an activitywhich are basically needed to be executed by marketing division inorder to bring products of an organisation into market for selling it to the targeted people. Theprimary elements of marketing division is to recognize and investigate the existing market1
patterns and conditionsas indicated by which needs and requirements of clients are identified.Itwill guide the association to roll out improvements in their current items.Marketing conceptProduction concept –It is related with operations and activities of theorganisation.Proper evaluation should be done over the operation division in an organisation due to thisoverall cost will be controlled. It is important because customer wants value to their money soincrease in cost will be affect the value of products.Product concept-Through this concept, it is proved that customer buying behvaiour isvery much based on the quality products offered to them. So that, in food industry it is essentialfor maintaining the standard of product in order to achieving competitive advantage in marketplace.Selling concept-this is another concept By which enterprise can gave more focus on thesales. There are various alternatives which are available in the organisation that increases therevenue such as analyse the nature and type of customers due to this, the capability of the firmwill increased and enables it to cover greater market share.Consumer concept –under this part of marketing, the priority is given to customers. It isbelieved that on using of a particular service the satisfaction level of consumer is maximised as ithelps in holding better relations with the customers.Roles and responsibilities of marketing departmentThere are various roles and duties which are performed by marketing manager in order toaccomplish pre-determined objectives and goals of an association inside pre-decided timeframe.Such roles and obligations are quickly depicted as underneath:Product:It incorporates the offerings which are given by organization in market, forexample, home products, furniture and so on. In such manner, there are a few obligations oforganization to give quality products in-building unique features to their clients which makethem unique in relation to their rivals in industry.To deal with opponents it is essential formarketing administrator to identify the market trends, rivals competitive strategies, preferencesand needs of customers etc. This will give an opportunity to make new thoughts and implementit into practical manner so as to achieve competitive advantage in market(Cleverley, 2017).Selling:It is an imperative part which ought to be executed by marketing manager ofIKEAin which they have to market their product in market in order to create immense incomes2
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