Strategic Marketing Plan for IKEA (6-8 Product Sales Data)


Added on  2019-09-20

10 Pages2349 Words151 Views
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IntroductionMarketing is defined as the process through which a product is conceptualized, processed,delivered and served to the consumer and it can also be defined as the activity, set of institutions,and processes for creating, communicating, delivering, and exchanging offerings that have valuefor customers, clients, partners, and society at large. Further, according to some researchers,marketing is also considered as a link or a bridge between the gap of society's materialistic needsand the demand and Supply chain in the economy. Furthermore, we will be discussing the rolesand the responsibilities of functions of the marketing in organizational context. Also, the keyelements of Marketing and the use of 7 P's of marketing Mix to achieve the overall objectives ofthe Organization are elaborated using various examples.1.1 Key roles and Responsibilities of Marketing Function to the organizationIn an organization, marketing plays a vital role as all the branding and promotional activities ofthe business, and also the coordinating part are done by marketing executives. In short,Marketing department is responsible for reaching out to all stakeholders of the Company be it theinvestors, Customers, Prospects, Communities, etc. and represent the company In a positivelight. Basic Roles and Responsibilities Include (Baron, D.P., 2003):Representing and Managing the Brand- Marketing Department of Amazon takes care of itsbrand name in media and helps to draw its good image in publicInitiating and Campaigning of Marketing Activities- Hyundai offered an assurance programcampaign in which people could return their vehicle to the company in case they lose out theirjobs or Income within a year of their purchase of the vehicle. Keeping Web Content Updated- Instagram provides the best user experience. The MassiveAdvertising provision in its search section keeps the user updated with all the new features ofInstagram.Handling and Maintaining Social Media- Samsung is maintaining its twitter as well as aFacebook page on a daily basis to keep track of followers and new prospects and also to keepitself updated with the users in the marketing.1
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Communicating Company's Values, goals, and priorities to employeesBeing a Spokesperson and representing the company in Media- All major brand names havetheir Spokesperson who maintains Public relations and maintain their brand image.Conducting marketing research and finding out opportunities- Phillips do massive researchwork in the economy to find out the new demand in Economy and accordingly produce thecustomized products.1.2 Analyzing The Roles and Responsibilities of the Marketing inOrganizational ContextThrough marketing, an organization can define actions to generate new sales, leads or contractfor a company. Therefore it is very important to have an alliance with the commercialdepartment. People working in the marketing department needs access to various importantinformation- the profit margin of the products, features and benefits of the product, deferredexpenditure for monthly campaigns in order to develop a long-term planning, keeping track of allthe competitors (What all strategies they are planning out) and also how the after sales servicesare done to provide an enhanced experience to the customers. Keeping the simplest way tocommunicate all the policies and procedures to stakeholders of the company (Swoboda et al.,2013).1.3 Analyzing The Roles and Responsibilities of the Marketing in MarketingEnvironment ContextThe Function, as well as the normal working of an organization, is directly influenced by themarket environment. Market Environment can be broadly classified into three categories:Internal environment- The internal environment of the organization includes internal customerswho contribute in delivering the final products. Micro environment- All the internal customers and suppliers etc. combine to form the microenvironment. An organization needs to develop a strong link with vendors and outside agencies.Therefore in order to maintain continuous harmony, it needs to look at ever-changing the microenvironment.2
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