logo

Assignment On Marketing Strategies & Plans Of IKEA

   

Added on  2020-02-12

16 Pages5832 Words49 Views
MARKETINGESSENTIALS

Table of ContentsINTRODUCTION...........................................................................................................................1Task 1 ..............................................................................................................................................1LO1..................................................................................................................................................1P1 Explaining the roles and responsibilities of the marketing function for IKEA ....................1P2 Explaining the relation of the roles and responsibilities of marketing to wider contexts .....3Task 2...............................................................................................................................................5LO2 .................................................................................................................................................5P3 Marketing mix of IKEA.........................................................................................................5Task 3 ..............................................................................................................................................8LO3 .................................................................................................................................................8P4 Developing and evaluating basic marketing plan..................................................................8Conclusion.....................................................................................................................................11References......................................................................................................................................13

INTRODUCTIONThe concept of marketing has been very much misunderstood and undervalued since thetime of inception of the term marketing. The marketing is a very critical step taken between theservice providers and service users who are bridged together in order to get mutually benefit forboth the groups. Marketing requires understanding the consumer psyche and various inherenttraits that can be observed in the market. It also requires the solid background knowledge of theproduct that is to be promoted and sold. By undertaking marketing, a company can effectivelyincrease its revenue along with it helps in enlarging the consumer base that is available tocompany. The current assignment is focussed on the marketing capabilities of IKEA, theEuropean furniture giant and would serve as supportive evidence in understanding the variousroles and responsibilities of marketing, the use of an appropriate marketing mix and way todevelop and evaluate marketing strategies and plans.Task 1 LO1P1 Explaining the roles and responsibilities of the marketing function for IKEA The marketing roles and responsibilities need to be carefully understood as this directlyplays the part in enhancing overall revenue generation process and thus, helps IKEA to enjoyprofitability and sustainability. Marketing team is responsible for conducting functions such aspromotion, advertisements, organising events and publishing related informations. The size ofmarketing is subjected to variation depending upon the type of industry and company they areinvolved with (Lane, 2016). For a global brand such as IKEA, the marketing team has separatedepartment which works in collaboration with production and sales department. Hence,marketing can be considered as the link between the company and their customers.The senior marketing managers are involved in devising strategies that are in accordanceto the overall company set goals and objectives. These strategies should make attaining thesegoals and objectives easier or at least help in identifying ways or methods to make theproceedings much more smoother. As stated by Passro (2015), the strategy can be focussedeither on single aspect or can actually be taken into consideration of various underlying aspectsof marketing.The office of showcasing achievements proceeding concession with the group ofsenior administration before to put efforts in details. These expanded techniques help thestrategies work efficiently to achieve more extensive geological market. 1

The research about market is one of the most essential obligations in regards toshowcasing office. Inquiring supports the organisation and helps them in differentiating betweenadvertising openings and picking up a superior comprehension for the need of client. It also helpsin comprehending the qualities of the rival and their shortcomings so steps can be taken to securethe business with the clients that already exists or for providing strong competition (Baiers andet.al., 2015). By contemplating the reports of the industry, the office can conduct its ownexaminations, advertise the information on its websites, or by reaching out to the client andreviewing their prospects of requirements and mental state. Alternatively, a statistical surveyingcan be briefed for completion of exploration.For the growth of new items or enhancement of staff the showcasing office works withinternal or external item advancement groups. The office conducts evaluation on offers ofexisting items and finds out holes in items and look for open doors for the organisation. Workersof showcasing department help the advancement groups by furnishing them with data which areprovided by clients and incline towards helping them in recognising the elements or theenhancements for combining with new items. According to Ito (2015), later during improvementthe showcasing division handles the setting of costs and arranging the dispatch of the items.The department of marketing arrange crusades and interchanges materials in order toelevate the items and administrations to the prospects and clients. Depending on their accessibleplans of spending may organise publicising efforts. Create advertising programs through emails,contents for the organisation site for short period, arranging official statements for distribution ofthe items, for example flyers of items, and leaflets of the organisation, etc. In words of Kim andLee (2016). Likewise, introducing advertising plan requires short time/material in bulk businessgroup as per clients prospects.In some organisations, promoting officers are assigned with the charge of arrangingevents, for example, classes, shows, client friendliness or deal meetings. They Coordinate theevent by booking meeting offices or show corners, for instance, and provide occasion material,for example, introductions, showcases (Adams, 2016). To guarantee fruitful participation theyelevate outer events to prospects and clients. 2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Roles and Responsibilities of Marketing for IKEA
|17
|5060
|237

Merchandising Policies of IKEA - Report
|17
|5319
|82

Marketing Mix of IKEA - PDF
|13
|3623
|370

Marketing Essentials PDF
|19
|5867
|357

Key Roles and Responsibilities of the Marketing of IKEA
|17
|5874
|1330

Marketing Functions Assignment
|20
|5497
|33