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Case Analysis about Marketing Mix and Its Trends of IKEA

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Case Analysis about Marketing Mix and Its Trends of IKEA
Case Analysis about Marketing Mix and Its Trends of IKEA
1. Analysis of IKEA’s Marketing Mix
There is no doubt that organization or managers have not the ability to change and control external factors of marketing environment, such as consumers, suppliers, competitors, cultural differences, political differences and economical states. However, organization can develop reasonable strategies for marketing mix which are controllable elements in the marketing environment. Organizations can take product, price, place and promotion into consideration when they make plans for services and products to avoid mistakes and risks (Mind Tools Ltd, 2013). IKEA also use marketing mix tools to ascend high level. The first part of this report refers to how IKEA use marketing mix in its development and some analysis and discussion about these strategies’ weakness and strengths.

1.1 Products Characteristics and Its Strengths and Weakness of IKEA Product for marketing is very simple from a general perspective because products can be anything that offered to a market and also can satisfy consumers’ want or need. However, marketers are supposed to concern many elements of products, such as quality level, features, styling and packaging in real world markets because they have to analyze these factors to make achievements for company. IKEA operate its own products strategies which are many products categories, remarkable design idea and specific packaging.

1.1.1A wide range of products categories
IKEA runs a diverse range of 9,500 products which involve home furniture and accessories (The Time 100, n .d). This international home products company design and sells ready-to-assemble furniture such as bed and desks, appliances and home accessories (Rah man et al, 2013). According consumers perspectives and IKEA’s promotion mix, it clarifies products into outdoor furniture, eating, desks, mirrors, children’s IKEA, cooking, bathroom storage, beds and mattresses. IKEA provider extensive


References: list Bo, M & Lindh, T, 2004, Forecasting global growth by age structure projections, viewed 12 May 2013, http://businesscasestudies.co.uk/business-theory/marketing/marketing-mix-price-place-promotion-product.html#axzz2THUqPzTW Chen, M.L & Huang X, 2012, Why Do IKEA 's Products Have Different Prices in Different Countries, viewed 12 May 2013, Mac kin, B, 2011, Trend Forecasting (A Macro-Environmental Analysis), viewed 15 May 2013, http://billmackin.com/2011/03/trend-forecasting-a-macro-environmental-analysis/ Madsen, E, L, Daumerie, B & Hardee, K, 2010, THE EFFECTS OF AGE STRUCTURE ON DEVELOPMENTPOLICY AND ISSUE BRIEF, viewed 15 May 2013, http://populationaction.org/wp-content/uploads/2012/01/SOTC_PIB.pdf Mind Tools, 2013, Understanding How to Position Your Market Offering, The Marketing Mix and 4 Ps, viewed 12 May 2013, http://www.mindtools.com/pages/article/newSTR_94.htm NSW Land and Housing Corporation, 2011, Environmental Sustainability Strategy update 2011/12 – 2013/14, viewed 15 May 2013, http://www.housing.nsw.gov.au/NR/rdonlyres/75664B7D-3C8C-4175-AA78-1941AE7F1BC0/0/EnvironmentalSustainabilityStrategyupdate.PDF Rah man, T, Barua, Sh, Mehnaz, S, Arefeen Bhuiyan, M &Hassan, S, 2013, Case Analysis MGT489, viewed 12 May 2013, http://zh.scribd.com/doc/59951004/Case-Analysis-IKEA Travis, 2012, GDP per Capita (PPP) vs. IKEA Prices Worldwide IKEA Price Comparison, viewed 15 May 2013, http://blog.idealo.co.uk/worldwide-ikea-price-comparison-1635.html Zainbooks, 2013, Marketing Macro Environment viewed 15 May 2013, http://www.zainbooks.com/books/marketing/principles-of-marketing_12_marketing-macro-environment.html
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