Marketing Strategy Of IKEA

QUESTION 3

Marketing mix is a manageable strategic marketing tool such as product, price, place and promotion. The company combines all these to create the answer it requires in the target market. (Kotler and Armstrong 2010). The offer a company makes to its customers can be changed by changing the marketing mix elements so that with a high profile brand one can intensify the emphasis on promotion and soothe the heaviness given to the price.

Price is the amount a consumer must interchange to obtain the offering. (Solomon et al 2009).

A company’s objective in terms of price is really to decrease cost through improving manufacturing and effectiveness and most significantly the marketer needs grow the supposed value of the benefits of products

IKEA entrant into the Asian countries has changed strategies that were been used in other countries that made them successful. IKEA saw the need for change in strategies in these two countries in order for them to be successful. After studying the Chinese and japan market so well and they got to know what their culture and traditions were, they were able to introduce products that will suit their need and culture.it was realized that the people of china and japan lived in very small apartments with small balcony therefore there will not be space to accommodate bulk or more furniture when such furniture is

The customers of IKEA are so educated and live in big cities with increasing salaries of their target market which increases almost every year. The target markets visit the store almost every month and this means there needs to be changes in the setting of the store and arrangement made quarterly for new products and designs. The offer IKEA gives to its customers is to supply affordable furniture solution to its target market but the overall image of the company is also necessary. The new store in Beijing has a lot of adjustment made in terms of its size as more visitors walk into the store much more than any other store in the