Ikea Marketing Plan Essay - 4219 Words

MARKETING PLAN INTRODUCTION 3 IKEA HISTORY AND ENVIRONMENT 3 IKEA TARGET MARKET 6 BRIEF PRODUCT OVERVIEW 8 COMPETITIVE REVIEW 9 Product Positioning 9 Competitions 9 DISTRIBUTION REVIEW 9 Objective and challenges 11 Challenges 12 SWOT 13 COMPANY MARKETING CARACTERISTICS 13 PRODUCT LINE, BRAND AND SERVICES 16 PRICE 18 Designing Pricing Strategies and Programs 19 PLACE 20 PROMOTION 22 INTEGRATED MARKETING PLAN MIX 24 Budget 24 Control 24 EXECUTIVE SUMMARY 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†¦To study geographical market, Ikea, as we studied before, is in many countries around the world. The marketsplace of the company is Internet where you can observe the catalogues, the different shops around the world, the tendencies of the designs†¦ The strategy they follow is to realize the people have a need and from this, they try to converse this need in a want (with promotion, modern design†¦) and this want is translated in demand which suppose the benefits for the company. In addition, the company tries to follow 3 strategies: ï  ¬ Way to expand total market demand ï  ¬ Protect current market share ï  ¬ Increase the market share To defend against competitor, Ikea uses to follow a Preemptive defense because they attack before competitors start their actions. BRIEF PRODUCT OVERVIEW IKEA offers a wide range of furniture products, from small boxes or baskets, to complete kitchens and bedrooms. Some of the most important furnishings that IKEA offers are: †¢ Upholstered furniture, coffee tables, rattan furniture, bookshelves, media storage, doorknobs †¢ Beds, wardrobes, hall furniture †¢ Dining tables and chairs †¢ Bookcass †¢ Bathroom articles †¢ Kitchens †¢ Chairs, desks †¢ Materials, curtains †¢ Garden furniture †¢ Carpets †¢ Bedlinen, bed covers, pillows/cushions †¢ Childrens items †¢ Curtain accessories †¢ Kitchen utensils †¢ Boxes, wall decoration, pictures andShow MoreRelatedIkea Marketing Plan3836 Words   |  16 PagesIkea Marketing plan Executive Summary IKEA is one of the world s top furniture retailers, and its International sells home furnishings and other housewares in about 270 stores in 35 countries. To cut transportation costs, IKEA uses flat packaging for most of its furniture; customers assemble the products at home. The company designs its own furniture, which is made by about 1,300 suppliers in more than 50 countries. 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