When analyzing an organization’s target market, the first step is to understand the business and what they hope to achieve through their marketing strategies. Targeting and positioning strategies consist of analyzing and identifying segments within a given product-market, choosing which segment or segments to target, and developing and implementing a positioning strategy for each targeted segment (Cravens & Piercy, 2009). The company’s target market determines what customer group or groups the company wants to serve (Cravens & Piercy, 2009). Analyzing IKEA’s target market allows the company to determine if their marketing strategies have successfully targeted their intended customer group or groups. Discussing the company’s positioning strategy helps determine if the strategy is effective or if the company must make improvements strengthen their positioning strategy. The company must determine if their targeting and positioning strategies may be lacking. If the company’s targeting and positioning strategies are lacking, the company must determine what they must do to strengthen their targeting and positioning strategies.
IKEA is more than a furniture store they are a company driven by values (IKEA, 2014). The company seeks to make their consumers lives easier by providing them with modern, innovative, inexpensive products which they use to tackle daily home activities. IKEA Group has 298 stores in 26 different countries (IKEA, 2014). The company’s vision is “to create a better everyday life for the many people” (IKEA, 2014, para 1). Using innovative techniques for creating, producing, and marketing their products IKEA can provide consumers with durable products for reason...
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...nsumers recognize and share with their friends thus providing IKEA with free word of mouth advertisement. If IKEA implements the suggested recommendations the company could improve their positioning strategy thus securing their leader position in the furniture market.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
IKEA. (2014). About the IKEA Group: Welcome inside our company. Retrieved from http://www.ikea.com/ms/en_US/this-is-ikea/company-information/index.html
IKEA. (2014). Marketing and communications: Getting our messages to the many people. Retrieved from http://www.ikea.com/ms/en_US/the_ikea_story/working_at_ikea/work_areas_marketing_communications.html
Rosenbaum, E. (2013, August 8). A new species? The elusive nature of the global middle class. Retrieved from http://www.cnbc.com/id/100949800
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