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Ikea Marketing Plan

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Ikea Marketing Plan
IKEA Marketing Plan – Part I

Submitted to: John Daly Submitted by: Lindsay Churchman Matthew Holland Jamie Krebs Eveline Man Chris Manellis Chelsea Slade Due Date: February 17, 2011 MRK428MS

Internal Environment
IKEA current marketing goal and objective
The IKEA vision is to create a better life for many people who purchase their products. Their main objectives are: - IKEA produces cheap and affordable products for the customers - The company wants better life for those who cannot afford expensive products - IKEA always helps to produce right product for the right consumer - IKEA always tries to sell their products at low prices - The company’s global developments and its continual commitment is to have a positive impact on people and the environment. The Website of IKEA states the marketing objectives and goal of IKEA: “Our vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them”(“ The Ikea Concept”).

How these goals and objectives are being achieved
One of IKEA’s main goals is to provide products at low prices to customers. IKEA has good, stylish furniture for their customers. There are 316 large stores in 267 countries. IKEA works to maintain a wellknown brand identity. IKEA marketing plan is very well design to sell the product. The main IMC goals include product design, catalogues, advertising, and public promotions.

Review of current marketing strategy and performance
Products: IKEA has everything to do with the home. The company has many products categories such as cooking, desk, eating, children’s IKEA, bathroom storage, beds & mattresses, chairs, clothes storage, decoration & mirrors, flooring, IKEA FAMILY cabinets & appliances, lighting, small storage, sofas & armchairs, storage furniture, tables, textile & rugs, transport & assembly and TV solutions.


Cited: "A Statistical Review of Current Economic Conditions in the U.S. (February 2011)." San José State University - Powering Silicon Valley. 2011. Web. 15 Feb. 2011. . Boris, Cynthia. "IKEA Turns Consumer Behavior into Viral Marketing." Internet Marketing News | Marketing Pilgrim. 24 Aug. 2011. Web. 10 Feb. 2011. . Business Wire. “IKEA Group Announces Strong Financial Growth for Fiscal Year 2010 with Net Profit Up 6.1% at [euro]2.7 Billion”. BusinessWire.com. The Free Library. 2011. Web. 14 Feb 2011. Canada Online. 24 Aug. 2011. Web. 10 Feb. 2011. http://canadaonline.about.com/od/premiers/a/premierrole.htm Canada Online. Government of Alberta Employee Standards. Web. 10 Feb 2011. Canadian Food Inspection Agency. Web. 10 Feb. 2011 < http://www.inspection.gc.ca/english/reg/consultation/reginite.shtml> Census Bureau Home Page." Census Bureau Home Page. Web. 15 Feb. 2011. . City Of Toronto. Web. 10 Feb. 2011 < http://www.toronto.ca/building/xpress.htm> Conservative Party. 24 Aug. 2011. Web. 10 Feb. 2011. http://www.conservative.ca/press/other_stories/ignatieff_confirms_he_will_raise_taxes Conservative Party. 24 Aug. 2011. Web. 10 Feb. 2011. http://www.conservative.ca/press/other_stories/laying_the_groundwork_for_economic_g rowth European Trade Commission. 24 Aug. 2011. Web. 10 Feb. 2011. http://ec.europa.eu/trade/creating-opportunities/bilateral-relations/countries/canada/ Ferrell, O.C., and Michael D. Hartline. MARKETING STRATEGY, The IKEA Concept. 5th. 2011. 492. Print. Ferrell, O.C., and Michael D. Hartline. MARKETING STRATEGY, The IKEA Concept. 5th. 2011. 493. Print. Foreign Affairs and International Trade Canada. Web. 10 Feb. 2011. < http://www.international.gc.ca/controls-controles/about-a_propos/index.aspx> Foreign Affairs and International Trade Canada . Web. 10 Feb. 2011 < http://www.international.gc.ca/commerce/visit-visite/eu-canada-ue-6.aspx?lang=eng> Globe and Mail. 29 Nov 2010. Web. 10 Feb. 2011. < http://www.theglobeandmail.com/report-onbusiness/economy/canada-commercial-property-tax-hit-worlds-highest/article1817235/> "HD Basic Chart | Home Depot, Inc. (The) Common S Stock." Yahoo! Canada Finance. Web. 15 Feb. 2011. . "Home Depot Home." Home Improvement, Home Renovation, Tools, & Hardware | Home Depot Canada. Web. 15 Feb. 2011. . “IKEA| Frequently Asked Questions.” IKEA. © Inter IKEA Systems B.V., n,d. Web. 15 Feb 2011. . “IKEA”. SocialMention.com. 16 Feb 2011. Web 16 Feb 2011. Kumar, Satish & Ritesh Tiwari. “Corporate Social Responsibility: Insights into Contemporary Research”. IUP Journal of Corporate Governance. 10 (2011): 22-44. ABI/INFORM Global. Web: 3 Feb 2011. Lange, Alexandra. "Blue Dot 's Big Plans | Metropolis Magazine | November 2000." Metropolis Magazine. Web. 15 Feb. 2011. . "Moulure Alexandria Molding: Mission and Values." Moulure Alexandria Molding: Home. Web. 15 Feb. 2011. . "Nation Master - American Population Pyramids." Nation Master - World Statistics, Country Comparisons. Web. 15 Feb. 2011. . "Raw Materials Costs Spiking, Say Manufacturers - 2010-04-12 13:42:56 | Furniture Today." Furniture Industry News for Retailers, Manufacturers | Furniture Today. 2011. Web. 15 Feb. 2011. Steve Laudurantaye. "Commercial Property Tax is Canada’s ‘Cash Cow’”. The Globe and Mail Online. Susan Munroe. About.com Canada Online. “Minimum Wage in Canada” Web. 10 Feb 2011 < http://canadaonline.about.com/od/labourstandards/a/minimum-wage-in-canada.htm> Watson, Bruce. “Ikea 's heart of darkness: A tale of racism, lies and Swedish meatballs”. DailyFinance.com. 16 Nov 2009. Web: 3 Feb 2011.
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