Marketing Report: IKEA's Roles, Marketing Mix, and Strategic Planning

This report examines the marketing strategies of IKEA, a global retail giant specializing in home furnishings. The assignment begins by outlining the key roles and responsibilities of the marketing function within an organization, emphasizing market research, customer focus, and strategy development. It then explores how these roles relate to other departments within IKEA, such as human resources, finance, production, and information technology, highlighting the interdependencies and collaborative efforts required for achieving organizational objectives. The report further analyzes IKEA's marketing mix, comparing it to that of Walmart, a major competitor, across product, price, place, and promotion strategies. Finally, the report concludes by producing and evaluating a basic marketing plan for IKEA, integrating the insights gained from the preceding analyses to offer a comprehensive understanding of IKEA's marketing approach.

The Role of Marketing

Contents
MAIN BODY...................................................................................................................................1
Task 1...............................................................................................................................................1
Explain the key roles and responsibilities of the marketing function...................................1
Explain how roles and responsibilities of marketing relate to the wider marketing relate to the
organisation context. ..............................................................................................................3
Task 3...............................................................................................................................................5
Compare the manner in which firms apply marketing mix for marketing planning process for
achievement of business objectives........................................................................................5
Task 3...............................................................................................................................................9
Produce and evaluate a basic marketing plan for an organisation.........................................9
CONCLUSION .............................................................................................................................12
REFERNCES.................................................................................................................................14

INTRODUCTION
Marketing is most essential practise which used to promoting, distributing, selling,
manufacturing of product and services. The purpose of marketing for making awareness about
brand in the marketplace where they mainly produce different type of product and service that
tend to attract the customer. Customer are very much attract towards company’s product in
which they also seeking for better products as they can approach on the basis of their
affordability.
In this following report, the organisation is taken IKEA, it is Swedish based multinational
group retail business were the headquarter is located in Deft, Netherland (Al Medani, Sahin and
Esiyok, 2021). They mainly trade and design home appliances, easy to assemble of furniture
kitchen related products and other groceries items. Their overall revenue generate 41.3 billion
euro where total number of employees are 219,300 approximately actively present to work.
Number of location is there in 900 above in worldwide. In report the topics are highlights as
different roles and responsibilities in marketing as well as organisation functions. By comparing
with similar based company within using of marketing seven Ps and at last to design the effective
plan of marketing product and services.
MAIN BODY
Task 1.
Explain the key roles and responsibilities of the marketing function.
As marketing is plays an important role and responsibility in organisation by promoting and
distributing of product and service awareness in different location. Marketing is one of most
prominent feature that helps to boost revenue through enhance effective sales that driven
through many promotional strategies. Similarly there are many roles and reliable of working
for marketing is handed over team in IKEA company where they scrutinize the marketing
field in better way to accomplish effective target. There is link between marketing function
and organisational function that enhance systematic process in given below:
Roles and Responsibilities
 Market research: This is first most important task or can determine major
responsibility which emphasis marketers used to measure and collects valuable
information about current marketing trends in product and service related. Customer
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behaviour and their taste and preferences are involves in it by rectifying major
consideration that concerned by them. In this practise of collecting and interpretation
the marketing fluctuation trending in better way to explore overall international
market or domestic market serve by IKEA company. They have hire effective source
of manpower who dominate and evaluate the marketing trends in effective way.
 Concerned towards customer requirement: After mapping the market research
then the nest step is to bit closure for evaluating and shows of better attain towards
specific target of customer target needs and wants. To having this roles and
responsibilities that enhance to keeping in mind about customer request and what
they are seeking for specification which fulfil their needs or expectation (Algharabat,
2017). By accomplish from customer expectation is one of important aspect for
marketing team. In perspective of IKEA company they internationally provide their
services and product in which many buyer are having connected with them.
Meanwhile they only focuses on customer buying pattern that enhance to facilitates
that affordability product.
 Developing strategy: To perform in competitive market where many other retail or
other competitors are competing with their product and services is available. The
customer are only seeking for economic scale of product where they can easily
afford as per their buying capabilities. Similarly, IKEA company marketing team
need to measure and must design different marketing plan which helps to establish
better product and service in market place. It also provide a benefit to map various
traits of customer behaviour and attributes as well as observe competitors
performances in daily basis to setting benchmark. In this process Maintaining
budget of marketing promotion is essential where marketer have vision to only
invest amount not more than revenue, as they expect more revenue than number of
invested amount effective manner.
 Searching for marketing Tools or techniques: By formulating information which
helps to scrutinize and easy to maintain through better marketing budget where
marketing manager is mainly assort to better collection about fulfilling the
information (Alves, Sousa and Machado, 2020). There many tools and techniques of
marketing which helps to maintain their relationship with customer for long term. As
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IKEA company uses Customer Relationship Management and Product Management
tool which helps to procure better raw material resources utilised in their
manufacturing effective and valuable product which sustain as well as fulfilling the
expectation of customer.
Explain how roles and responsibilities of marketing relate to the wider marketing relate to the
organisation context.
In organisation there is many departments which is differentiate as per significant roles
and responsibilities that is presumes for better coordinate to accomplish targets and
systematic enhance through employees as well as manager (Basha, 2019). As in IKEA
company, their marketing team is putting their contribution in Human resource, financial,
production and informational technology department to flexible to increase the efficiency
performance objectives in basic objective accomplish. In following there is interrelationship
between many working department in which marketing plays an important role in IKEA as
follows:
 Marketing relation in human resource department: In Human resource department of
IKEA company is reliable towards hiring and selecting efficient workforce as well as
assigned roles and duties to each employees mas per individual capabilities that they can
commence their work as per their efforts. Furthermore, human resource department
provides workforce to marketing department. Many other benefits also provided by
Human resource department by better performance appraisal, training and development
and employee engagement activities to motivates employees (Chen and et. al., 2019).
Therefore, marketing of IKEA venture helps to promotes their recruitment process and
hiring in online job portals, and social media platform for better screening with
candidates to effective hiring.
 Marketing involve in financial department: The major job roles of finance department
is having provide essential funding related activities towards organisational department.
They are major enhance to better facilitates for attention attain from investors and for
mapping further predict crises that enhance to resolve by finance department. Marketing
department is provide different platform in which finance putt their contribution through
better innovation which works functionally as compliance oriented. In other phase,
finance department helsp to marketing of IKEA company to allocate optimum funds by
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systematic fund arrangement which they can use in their marketing promotion activities.
Through these coordination between both department in IKEA can effectively manage
liquidity and further crises can predicted to resolve conflicts to attain profit in long term
aspect.
 Marketing relation with Production Department: In retail or any other business, the
role of production is to manufacture product and service by utilising optimum raw
material. They are responsible for converting raw material with different enhance to
inputs that turns into completing finished goods and service (Choi and Seo, 2019). In the
process of production department where it efficiency to provide better competitive
outputs to accomplish the target where they provide better quality of product and
services. IKEA company production is having tehri own Unique selling price they
procure eco friendly raw material which not harmful and related with minimising the cost
of production along with ensuring with product and services in terms of providing better
quality for better improvising existing product. Marketing department to contributes in
IKEA raw material in which company ensure to predict better product manufacture. To
better improve quality and having monitor with controlling of production that generates
to manufacture to overall control the cost that enhance to prevent challenges.
 Marketing relation with Informational technology department: The IT department
helps to enhance better systematic regulation to effectively promotes service that increase
high flexibility work process of organisation. As IKEA is one of best technology resource
which helps to manufacture product and service in online and offline stores to provide
ample of products and service which is highly needful to customer (Dinner, Kushwaha and
Steenkamp, 2019). Furthermore, marketing department allows to provide information
related with software and digital marketing activities handle through presence of
information technology department.
Task 3.
Compare the manner in which firms apply marketing mix for marketing planning process for
achievement of business objectives.
The term marketing mix is type of process in which it comprise through a model that
related with business, historically explains about the product, price, place and promotion
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but further it goes to describes about process , people and physical experience that assort
by tools which is mainly uses to target market. Thus, the marketing mix is usually refers to
four brand level of marketing decision which rotate in seven Ps of Marketing mix. In
perspective of IKEA company is having their major marketing mix strategy as now
compare with other retail brand who is one of competitors of IKEA is Walmart company.
Basic IKEA Company Walmart Company
Product The product of IKEA is one of the
leading and better durability provides to
customer. They are on of leading global
retail chains which expand their presence
in across the world. The product which
offers by IKEA can covers a wide range
and the offering are in company
marketing mix. IKEA is mainly offers
can be broadly divided into outdoor
furniture, baby product and other
groceries product to customer
requirement fulfilment.
The description about product of
Walmart is majorly deals in home
appliances Grocery and consumer
with effective type of product and
service (Dohnal, Hanusova and
Lipovska, 2018). Some of the
product which they manufacture
like baby product, medicines,
optical related brand along with
technology like Television,
phones. Thus, it reflects effective
product strategies for respective
firm.
Price As the pricing strategy which IKEA
mainly operates from global and retail
chains which is highly competitive in
local supermarket. The low prices of
constitute within IKEA vision where the
business related idea. By offering
furniture and other home appliances
items by IKEA in Economic range of
price that enables to afford by customer
in easier way (Hultman, Ulusoy and Oghazi,
2019).
Their pricing strategy is duffer
form other retail company as they
implies their price in their product
in home made product like such
online pricing to attract large
number of consumer so that they
gain profit and sales of volume the
business in competitive market
place. They mainly enhance
economic range of pricing which
customer can easily afford and
company could ale to attain better
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competitive advantages.
Place There is component of marketing having
mix is depicts as the platform in online as
well as IKEA propounded theiri
vaialbilty of product. Distribution of
product and service in certain principles
which they follows to manufacturing in
huge volume that enables of large
distribution network. By enhance to
increase the value of weight ratio. IKEA
has their over 25 distribution centre
where they mainly operates their business
operation.
As in context of Walmart, they
uses to different sources where
they design their own marketing
strategy mix. They have own
websites and transportation where
distribute product and service in
worldwide but some of the region
they are not enhance their
products like Africa. Offline and
online distribution helps in rising
company's reach in its target
market all ove4r the world. Which
leads to competitive benefits.
Promotion The promotional strategy and advertising
in IKEA marketing strategy as it
following the marketing activities. IKEA
is having launched their own brand
campaign which has their own name that
help to produce different sort of
marketing plan. They usually focus to
advertise in putting poster, electronic
banner and digital marketing which helps
to direct connect with customer. By
launching of marketing campaign
presumes advertising shots within crowd
or live audience, super malls, stand up
comedian shows etc. The marketing team
of IKEA undertakes all responsibility to
generates better social media awareness
and enhance their creativity to build up
By using unique tactics of
Walmart to better promotes their
product and service through
Television, newspaper within
websites, special deals and
enhancing heavy discounts that
implies different promotional
strategy by Walmart are to
implement in digital marketing
and usage of social media
marketing for better use.
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effective promotion.
People The IKEA is provides better utmost
importance to the people as customer as
well as employees. The total number of
customer IKEA is having more than fifty
lakhs subscriber and manpower are above
one lakh in worldwide. They mainly hire
high potential employees in terms of
leadership and management skills.
While Walmart is people-focused
and tech-driven brand that offers
specialised training programs in
order to concentrate on developing
retail leaders for future. It ensures
long term sustainability of
business. Thus, it shows effective
application of this element of
marketing mix of respective firm.
Process As the process of IKEA is very flexible
the marketer used approach their
production department by using advanced
technology to manufacture the product in
effective manner.
On the other hand Walmart
concentrates on cost-cutting band
process optimization in order to
achieve position of lowest cost
producer in market (Lee and
Pounders,, 2019). It optimized
internal process & improve
inventory management so as to
save money and time of
manufacturing process.
Physical
evidence
IKEA is having global presence and
customer are loyal. Company is generate
quality base of product and services
where customer engagement is having
high base interacting.
The physical evidence of Walmart
includes gift cards & private label
cards. It has 11,300 retail stores
that serves customers under 58
banners in several areas of world.
Evaluation.
In above discussion of Seven Ps of marketing mix between IKEA and Walmart as there
short conclusion is given below in terms of high product and market influence in competitive
market influence:
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 `Product: As per IKEA is provide better and economic range of product where it leading
retail business that is having expand in presence of across chain. While, Walmart is
online and offline offering product and service in same traits that provide in different
aspect of product like groceries, optical, medicines and others. Walmart is much expand
then IKEA in context of product variations.
 Price: Both IKEA and Walmart allows economic range of product that effectively assort
to measure towards better profit and sales business competitive productive measures
towards attain high competitive advantages.
 Place: The availability of resource about product and services towards better available
offline stores rather than online, as IKEA is having presence in online platform towards
across stores in internationally. Walmart is having online presence most of the time
where they get to approach people easier way. Although, their product and service is
wider range towards better attain higher competitive advantages.
 Promotion: To better approach social media platforms for promoting and advertising by
both companies IKEA and Walmart.
 People: Through approach optimum provides of better utmost through importance of
people that assumes customer as well as employees where total number of workforce
IKEA and Walmart is having more than 1000 people are connected to attain effective
manpower.
 Process: This is presuming under process about to implement production department
advanced technology as well as Walmart is mainly acquire other brand product to sell in
their websites.
 Physical Evidence: IKEA is one of the better recognition in global market products and
services which is assort by people. As in Walmart is approaching products through better
services and product in way of online platform.
Task 3.
Produce and evaluate a basic marketing plan for an organisation.
The strategic marketing plan is defines about to evaluate the external and internal market
environment to measuring for business factor product with proper implementing of business
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objectives accomplishment by mapping strategic planning with motive of better attain
maximum of profit.
Overcome about company:
IKEA one of the leading retailer company is based multinational venture and trade and
design home appliances, easy to assemble of furniture kitchen related products and other
groceries items (Jin and Cho, 2018). Their overall revenue generate 41.3 billion euro where total
number of employees are 219,300 approximately actively present to work. Number of location is
there in 900 above in worldwide.
Mission: the statement as “Our business ideas support this vision by offering a wide
range of well designed product and services with better furnishing product in better format
according to lower price to people can afford easily.”
Vision: The Statement is states about “to create better everyday life for many people
life”.
Objective: As IKEA company is manufacture many products in home appliances,
furniture, medicines and others too. They invent some new concept to introduce for Human
health safety by introducing product IKEA’s Health Protein Shake, the motive is to concerned
with human immune system increase in positive manner as well as better gain competitive
advantages. This objective is frame to making analysation of current competitive market and
customer preferences for better achieving optimum marketing share analysing as control new
product and service for productive outcomes generates.
STP Analysis:
Segmenting: It is a process which helps to identify the market through demographic and
geographic factor. For IKEA company perspective, they generally approach both variance of
segments in terms of age, gender and health in worldwide.
Targeting: It is tend highlight right customer and commercial to attract in each term
segment (Kutlubay and Uslay, 2019). As IKEA need to approach their target customer on the basis
of their Health protein shake product specification.
Positioning: It major highlight about specific product who having positioning for
selecting segment and allows to measure demand and growth in competitive product.
SWOT analysis of IKEA
Strength Weakness
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 IKEA is one of influence leading retail
brand in overall worldwide, somehow
they attain better competitive
advantages.
 By offering better pricing as per
customer affordability range.
 High customer retention in terms of
better subscription becasue IKEA
provides economic range of product
and services (Mekonnen, 2018).
 As they effective and innovative
marketing promotional team to
advertise their brand in effective
manner.
 As they have limited range of product
and service in company where they
could not able to provide their brand
such as Africa and China.
 Having less pricing offer reduces it
market share growth which is quite
adjustable.
 People use to provide frequent feedback
related with low quality product initiates
through inexpensive manner.
Opportunities Threat
 Many online portals for retail business
which commence as B2B practise
where IKEA can provide their product
and service through better online
services.
 To initiate by providing more
grocersoris items which can expand
IKEA market goodwill as well as they
can attain more market share.
 As there is high competition in which
they could not able to crack market
targets such as companies are Asda,
Tesco, Walmart etc.
 Government regulation which enables
to shut down their some of branches and
stores as they have their branch in
United Kingdom Brexit market which
create barrier in trade European trade.
Monitoring and Controlling:
The process of monitoring and controlling is major part of marketing strategic plan where
it helps to measure or map the practices which involve in marketing term that ensures about to
approving the project or new vision plan by investing capitalism (Muslih and et. al., 2017). This
works through expertise and top level management of IKEA company would measure their
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