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

IKEA Marketing Plan - Research Paper ExampleA look into the depict situation of IKEA is included in this plan along with other pertinent information that would help in deciding how to further develop the IKEA business, e.g., situation, product, competition and jampack analyses along with the look into IKEAs mission and vision and its financials. The analyses made in this plan showed that IKEA is indeed a strong brand to contend with and is capable of expanding and development further. It offers products that consumers patronize and gives value to those products. Further expansion can be made and better plans for marketing the products of IKEA is currently being handled mainly through the use of proficient advancement such as the use of the internet, phone applications and social 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 leader in its industry. Mission and Vision Statements IKEA started in Sweden and was founded on the concept that more tribe would afford well-designed and highly functional home furnishings at depressive disorder prices. Kamprad is its founder and control the company through INGKA Foundation which has its headquarters in The Netherlands. The foundation owns INGKA Holding B.V., the company which owns IKEA. This systemal structure is the reason IKEA is not listed in the stock exchange (Tengblad, 2004). It is the vision of IKEA to offer many people a better living through affordable solutions. This is done through the companys offering of a wide array of high quality and well designed products for home. More people are able to afford these home furnishings imputable to its low 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 afford them (IKEA USA, 1999-2011). The company goes beyon d 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, concrete and comfortable 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. pry 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 interpreted 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 firing beyond just the product, i.e., it is not what the buyer is purchasing but what he thinks he is purchase. The value proposition determines the du ties 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 refuse the price, buyers are the ones who