Marketing Strategies of IKEA

Subject Code: MBA600
Subject Name: Capstone
Assessment Title: Assessment 2 – Individual Report
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Executive Summary
The IKEA Company has applied new strategies to increase the variety of products in the
market and this has benefitted the company in many ways. The productivity of the employees
and the company has increased. This company has also expanded the business worldwide to
increase the sales of the company. Product marketing is an approach to bring the product in
the market and see the success of it. The company also tries to drive the demand and usage of
the product. The IKEA Company has also used many marketing strategies to enhance the
growth of the business.
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Table of Contents
Executive Summary...................................................................................................................2
Introduction................................................................................................................................4
Organization strategy:................................................................................................................4
Outline of organizational functions............................................................................................5
Recommendation........................................................................................................................8
Conclusion..................................................................................................................................9
References:...............................................................................................................................10
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Introduction
The marketing strategy of the business is a plan for reaching the people and turning them into
the customers of the company. This is a long-term process. The IKEA Company has also
adopted some marketing strategy to expand the business. The segmentation, targeting, and
positioning are three pillars of the marketing strategy of this company. This company has 380
stores in all over the world. These three marketing strategies are very important to run the
business globally. This company manufactures new products for the kitchen and bedrooms to
attract customers. In this way, they have been able to create a huge customer base over the
years.
Organization strategy:
The strategy is the main plan, which determines the mission and vision of the company. The
strategy is underpinned by the value of the company (Brown, et al., 2016). The strategy of
IKEA has always been to develop and design the products depending on the needs of the
customers. This company tries to keep the prices of the product is very low. In this way, the
IKEA Company is able to provide attractive, functional, and reliable solutions and
furnishings. Sustainability is the main pillar of the strategy of the IKEA Company throughout
evolution. In the year of 2012, this company had launched the strategy, which was based on
the people, and planet sustainability strategy. This helped the company to achieve positive
social and environmental impacts (Franchisor, 2019). This sustainability strategy brings the
elements of values, vision, and mission together to transform the business of IKEA. This will
help the competitiveness of this company by securing the access, which is long term. This
strategy also helps the relationship between co-workers and customers. The innovative
strategy enhances the increasing market share of this company. By the year, 2020 IKEA
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