Essay on Ikea Marketing Plan
IKEA HISTORY AND ENVIRONMENT 3
IKEA TARGET MARKET 6
BRIEF PRODUCT OVERVIEW 8
COMPETITIVE REVIEW 9
Product Positioning 9
DISTRIBUTION REVIEW 9
Objective and challenges 11
COMPANY MARKETING CARACTERISTICS 13
PRODUCT LINE, BRAND AND SERVICES 16
Designing Pricing Strategies and Programs 19
INTEGRATED MARKETING PLAN MIX 24
IKEA group is one of the top furniture retailers in the world. With its unique combination of form, function and affordability, IKEA distinguished itself from other furniture retailers.
With its success in Europe, IKEA entered the American market with …show more content…
IKEA has been looking for methods that are both cost-effective and innovative in order to make good products at low prices. This has been IKEA's focus since its beginnings in Sweden. By maximizing the use of raw materials and adapting products to people's needs and preferences, they could achieve it. The IKEA way of doing things is to pass these cost savings on to the customers.
There is no exact competitor for IKEA because IKEA and other companies can differentiate their products. They are focused on market segments where they can meet different customer needs. However, the IKEA style is a threat for both luxury furniture shops and home improvement stores.
• Home improvement stores
• Luxury furniture stores
Furniture and components produced in industrial units are transported to IKEA stores which display the product range in room settings, offering customers inspiring home furnishing solutions. To help keep prices low, IKEA stores buy and transport products in bulk. They also are located in less expensive areas and take advantage of the self-service