Strategic Marketing Planning for Ikea

Strategic Marketing Planning
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Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Demonstrate knowledge and understanding of Corporate Strategy............................................3
Discuss about the application, evaluation of strategic marketing planning theories to Ikea.......4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
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INTRODUCTION
Strategic marketing planning is based on the process or method through which enterprise
creates an effective marketing strategies and its implementations in target market. This type of
process will be taking into account the current position of Ikea, helps in identifying the
promotional opportunities and then evaluating these approaches. This report is based on the Ikea,
is a Swedish multi-national company that designs and sells their ready to assemble furniture in
marketplace. This organisation was founded in Sweden in 1943 by Ingvor Kamprad, Ikea is one
of the largest furniture retailer since 2008. The group is known for modernist design for giving
different kind of appliances & furniture, interior design work which often associated with eco-
friendly simplicity. Ikea operates 378 physical stores in 30 different countries. On the other hand,
this report will discuss about the concept of corporate strategy, evaluates the application or
strategic marketing theories to Ikea.
TASK
Demonstrate knowledge and understanding of Corporate Strategy
Corporate Strategy is kind of approach in term of strategic decision making by identifies
the importance of Ikea business, how to determine the creation of most valuable aspect. In order
to develop a corporate strategy, Ikea must require to look at how different enterprise they own fit
together. Corporate strategy can built on top of business which is concern about the decision
making for individuals.
On the other hand, Ikea can use corporate strategy which means that represent as highest
strategic plan, which define overall goals, direction of organization. Ikea may focus on the
achieve their long term goals, identify the overall value of enterprise. This is beneficial for
enterprise to motivate or inspire people to achieve business tasks in proper manner.
Ikea business should be used the “Corporate Strategy” in their business and starts with idea of
providing wide range of home furnishing items (Eriksson, Robertson and Näppä, 2020). It is
becoming affordable to different people, not just for combining with quality, design, value and
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