IKEA Marketing Plan Research Paper Example | Topics and Well Written Essays - 2000 words

IKEA Marketing Plan - Research Paper ExampleA look into the present concomitant of IKEA is included in this plan along with other pertinent information that would help in decision making how to further develop the IKEA business, e.g., situation, product, competition and SWOT analyses along with the look into IKEAs mission and vision and its financials. The analyses make in this plan showed that IKEA is indeed a strong instigator to contend with and is capable of expanding and growing further. It stick outs products that consumers frequent and gives value to those products. Further expansion can be made and better plans for marketing the products of IKEA is currently creation handled mainly through the use of technological advancement such as the use of the internet, phone applications and complaisant networking. With all its achievements and with the goals it intends to achieve in the future, it can be surmised that IKEA has indeed achieved its aim of being a loss leader in i ts industry. Mission and Vision Statements IKEA started in Sweden and was founded on the concept that more people would afford well-designed and super functional home furnishings at beginning prices. Kamprad is its founder and control the keep company through INGKA Foundation which has its render in The Netherlands. The foundation owns INGKA Holding B.V., the company which owns IKEA. This organizational structure is the reason IKEA is not listed in the melodic phrase exchange (Tengblad, 2004). It is the vision of IKEA to offer many people a better living through inexpensive solutions. This is done through the companys oblation of a wide array of high flavour and well designed products for home. More people atomic number 18 able to afford these home furnishings due to its rugged prices. It is the mission of IKEA to provide its consumers a wide array of home furnishings that are functional, well-designed, durable, high quality and low priced in order that more people can aff ord them (IKEA USA, 1999-2011). The company goes beyond just offering furniture. Instead, they offer customers comfort and better homes and lives. IKEA is cognizant of how home environment affects the well-being. This is it offers the kinds of furnishings that would enable individuals to have an attractive, practical and homelike home without the need to spend a fortune. IKEA is a good example of an organization that managed to line up its values both in and out. Value proposition creates use in a companys product as offered to its consumers (Bovet & Martha, 2000). It is what customers consider as an advantage when purchasing a product (Best, 1997). It is taken to be a bundle of value delivered to the consumers by the company (Sheehy, Bracey & Frazier, 1996). Value proposition includes such intangibles as image, brand and equity along with price, selection and service. This is going beyond just the product, i.e., it is not what the buyer is purchasing further what he thinks he is buying. The value proposition determines the duties of stakeholders as well as the offer to the organization (Webster, 1994). It serves as a selling proposition to potential buyers or the reason why buyers should patronize a companys product instead of buying from its competitor. IKEAs value proposition that serves as an attraction to buyers is its offer of affordable, functional and distinctly designed furnishings. This value is well communicated and implemented consistently. To allow the company to lower the price, buyers are the ones who