Submitted by: Submitted by chenyi198905
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Words: 5645
Pages: 23
Category: Business and Industry
Date Submitted: 09/07/2012 09:57 PM
IKEA Marketing Plan
To: Jun Myers BUS 560
Team Member: Yi Chen (Bob)
Sicong Wang
Fengnan Zhang (Ryan)
Jian Ye (Ian)
Zhuoran Bao
University of La Verne
College of Business and Public Management
Contents
I. Company Description (Zhuoran Bao) 3
II. Business Mission (Zhuoran Bao) 4
Better life & Lower price 4
Universal products and Swedish style design 5
III. Marketing Objectives (Ian) 5
IV. Situation Analysis (Sicong Wang) 9
1. Industry analysis 9
Power of the Buyers: High 9
Bargaining power of suppliers: Medium 9
Rivalry: High 10
Substitutes: High 10
Threat of new entrants: Medium 10
Industry Trend 11
2. IKEA SWOT Analysis 11
Strengths 11
Weakness 12
Opportunities 13
Threats 13
V. MARKETING STRATEGY (Bob) 13
1. Target Market Strategy: 13
Primary target market 13
Positioning strategy 17
2. Marketing Mix Strategies: 17
Product Strategy 17
Distribution Strategy 18
Pricing Strategy 19
Promotion Strategy (Integrated Marketing Communication) 19
VI. Implementation (Ian and Ryan) 20
1. Market Research 20
2. Organizational Structure and Plan 22
3. Financial Projections 23
4. Implementation Timeline 24
Product Activity 24
Pricing Activity 25
IMC Activity 25
VII.Evaluation and control(Ryan) 25
1. Formal control 25
(1). Process control: 26
(2). Output control: 26
(3). IMC performance standard: 26
2. Informal Control 26
(1). Employee self-control: 26
(2). Social control: 27
VIII. Summary (Ryan) 27
Reference 28
I. Company Description (Zhuoran Bao)
Ikea has become a well-known household furniture company; it is simple, fresh style, and elegance. In 1943, Ingvar Kamprad created the brand of Ikea, and the inspiration of the name of IKEA was picking up two alphabets, which are “I” and “K”, from his name, and also choosing other two alphabets from the name of his first farm and village.
In 1951, Ingvar Kamprad, the founder of Ikea, saw the opportunity of becoming...