MARKETING MANAGEMENT ANALYSIS FOR IKEA
The aim of this case study is to demonstrate IKEA’s marketing strategies, how succeeded in creating this brand name and retained its reputation for years. Will discuss all IKEA’s adopted strategies, products development, global presence and all challenges have to conquer to stay afloat.
This report presents a case study of IKEA’s performance from different prospective, The importance of designing a customer centred marketing strategy and the implementation of such a strategy through the marketing mix
The results express what the company must do to expand globally by maintaining good customers’ relationship and capturing customer value. Marketing communication mix will be elaborate as well illustrating how it became one of IKEA success factors
IKEA was found in Sweden by Ingvar Kamprad on 1943 who came up with the name IKEA by combining the first letters of his name I&K, followed by the first letters of his farm home village (Elmtaryd & Agunnaryd).
1.3 Vision & Mission
A company's vision simply is the company's dream and goals, while the mission statement is the translation those dreams to reality by setting strategic plans to accomplish these goals and dreams (Kotler: 1997)
SWOT analysis is a strategic planning method used to synthesize a wide array of information a, aid the transition to the firm strategic and evaluate the company's Strengths, Weakness, Opportunities and Threats.
The aim of the SWOT analysis is to classify the key factors that are essential to achieve the objective. These key factors are categorized to internal & external factor (Ferrell; Michael: 2007).
Internal factors are the ones having impact on the organizations objectives, what may present as strength with respect to one objective maybe weakness for another objective as HR financial resources, operational capacity, and organizational structure,...