Marketing Planning Report: IKEA's Strategies and Analysis

This report provides a comprehensive analysis of IKEA's marketing strategies. It begins by examining the changing perspectives in marketing planning, particularly in the context of technological advancements and social media's influence. The report then evaluates IKEA's organizational capabilities, emphasizing the importance of resource management and brand image. A detailed organizational audit is conducted, analyzing both internal and external factors, including a SWOT analysis. The report outlines a proposed marketing plan for a new product or service, covering market analysis, segmentation, and positioning. It also explores the importance of marketing planning in the strategic planning process, examines techniques for new product development, and justifies recommendations for pricing, distribution, and communication strategies. Finally, the report addresses ethical issues in marketing and their impact on planning, including consumer ethics. The report concludes by summarizing key findings and providing recommendations for future marketing efforts, offering valuable insights into IKEA's approach to marketing in a dynamic business environment.

Marketing Planning

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Review changing of perspectives in marketing planning.................................................1
1.2 Evaluate an organisation's capabilities for planning .......................................................1
1.3 Analyse the technique for organisational auditing and for examine external factors......2
1.4 Carry out organisational auditing and analyse the external factors..................................3
TASK 2............................................................................................................................................4
Covered in PPT.......................................................................................................................4
TASK 3............................................................................................................................................4
3.1 Marketing plan for a product or a service........................................................................4
3.2 Importance of marketing planning in the strategic planning process...............................5
3.3 Examine the techniques for new product development....................................................5
3.4 Justify recommendations for pricing policy, distribution and communication mix.........6
3.5 Factors affecting the effective implementation of marketing plan].................................7
TASK 4 ..........................................................................................................................................7
4.1 Ethical issues influence marketing planning....................................................................7
4.2 How organisation response to ethical issues ...................................................................8
4.3 Consumer ethics and its impact on marketing planning...................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
In the recent scenario, marketing is considered as the mos effective and constant process
that avail in gaining awareness of organisation's products and services in the global trade. The
company focuses over the smart and impressive methods or techniques of marketing in order to
influence the consumer toward the organisational activities (Taghian, 2010). This report will
study the changing perspective of marketing in IKEA which is the largest supermarket of United
Kingdom as well as analyse company's abilities in effective way. It will study the factors which
can affect the planning of marketing and barrier in the section. This will also light on the
suggestion of distribution, pricing and communication mix of IKEA.
TASK 1
1.1 Review changing of perspectives in marketing planning
IEKA is utilizing effective strategies of marketing but as the technology is constantly
changing, it is required to bring the change and alter the system more aggressively. IEKA is one
of the largest retailing company since 2008 which is using the tools of marketing so effectively
that it have been able to stick on this position from past decade. Planning is the most effective
resource which play a crucial role in successful designing and execution of marketing strategy.
This is required elements in nowadays of marketing to use the tolls of promotion and marketing
mix i.e. 7P's for the prepose of promoting and advertising of products and services. According to
the increasing demands and purchasing power of consumer, this have become essential to alter or
advancement technology from production to distribution.
In the era of social media, the uses of new media have increased for the promotional and
marketing activities. Most the business organisation are using Facebook, Twitter, Instagram and
other media platforms for advertising their products and services because it is easy to access and
quicker in flow of communication (Pulendran, Speed and Widing 2015). IEKA can use the social
media tools for the purpose of promotion or marketing of their products and services which can
render more customer base to organisation.
1.2 Evaluate an organisation's capabilities for planning
Capabilities of company is fundamental and effective concept that refer to managing
ability of resources like worker in order to increase the benefit of rivals. This avail company in
representing actual abilities or skills of a firm. According to this concept, the worker of the
1

organisation have to face consequences in external marketplace as well as compete the rivals of
company (Morgan, Katsikeas and Vorhies, 2012). This helps in understanding the status and
power of company in more effective and efficient way. Here are some point which affect the
profitability of company:
 create image of brand at industry
 Drawback or weakness of enterprise
 Higher cost of the products and services
 Lack of conveying information
 Miscommunication
In comparison of traditional time of market, business firm are now more focusing over
the management of resources such as human resources, machinery, labour power etc. in effective
manner. Also in recent era, consumer desire something more creative and innovative than other
companies which lead company to properly maintain and monitor the company resource in
appropriate manner.
1.3 Analyse the technique for organisational auditing and for examine external factors
This is essential for every organisation to understand the consumer as well as their
requirements for attaining success or objectives of a company (McDonald and Wilson, 2016). It
is essential for this to analyse the audit of company including internal and external elements.
This avail in directing company as well as influence products and services. Here are external and
internal factors discussed under:
Internal Factors
 Vision or mission of organisation
 Requirements, needs, satisfaction level and expectation of consumer .
 Resources of organisation involving suppliers, competitors, capital funder etc. Connection and relationship with supplier,. Employee , consumer and other public of
IEKA.
External Factors
External factors includes elements which are situated in outside of company including,
political, social, technological, legal, economical and environmental etc. These can be analysed
through the help of PESTLE analysis that affect the sales and quality of company's products and
services as well as create a brand image of organisation.
2

According to these factors the determination of pricing, demands, supply of products and
services is done. The manager of marketing product would undertake the strategy of marketing
on these elements on the basis of it, an effective plan is being produced.
1.4 Carry out organisational auditing and analyse the external factors
This is one the essentials and major elements of marketing to analyse the organisational
AND environmental audit of a firm. Through the assistance of it, IEKA can easily examine and
carry out the position of organisation in industry and achieve sustainable objectives set by
leaders and manager. For this, this is initial to examine the internal factors set on the grounds of
external factors.
SWOT of IEKA
Strengths Weakness
 Largest furniture organization: it have
enlisted its name as the largest furniture
organisation from 2008.
 Company have good customer
knowledge (Li and Li, 2010).
 Integration of supply chain.
 Organisation contains diverged
portfolio of commodities.
 The decrease in quality have broke the
consumer base.
 Negative publicity of company is the
weak points of IEKA that they need to
improve.
 product standards
Opportunities Threats
 Market penetration and expansion is the
best opportunity of development of
organisation for IEKA.
 Developing sales online which can
render to international clients.
 Deployment of grocery products and
services.
 Intensifying competition
 Development of average income of
clients
3

TASK 2
Covered in PPT
4

5

6

7

8

9