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Marketing Practices in Organization -IKEA

University: Regent College of London

  • Unit No: 2
  • Level: Undergraduate/College
  • Pages: 16
  • Words: 4000
  • Paper Type: Assignment
  • Course Code:

    R/508/0486

  • Country: UK
  • Downloads: 0
Question :

The scenario of this report determines working practices and contribution of marketing in an organisation. The main objective of this department is to customer’s requirement in order to provide them quality products and services. These kind of practices assist in building direct relation with target customers.

  • Analyse the role of marketing and its interconnection with other functional departments of Ikea.
  • Provide a comparison between different organisations by considering elements of marketing mix.
  • Construct a strategic marketing plan of Ikea.
Answer :
Organization Selected : IKEA

INTRODUCTION

Marketing is identifying as an effective process of interesting potential clients and customers in business services and products. It is important and essential tool which is beneficial for the company to attract large number of customers in a systematic manner (Al-Ekam and et. al., 2012). According to American Marketing association, marketing is referring as a best activity and process of developing delivering, communicating and serving that have value for partners, clients and customers. Marketing is significant functions which includes different components such as advertisement, public relation, sales promotions etc. all these are valuable for the firm to introduce their new services and products in marketplace. In each and every organisation, marketing assist in exchange of goods, it supports in raising the standard of living of the community and many other. In this report, selected company is IKEA, it is a retail industry which deals is ready-to-assemble furniture, homeware and many other. There are different elements which are covered in this projects such as role of marketing functions, interrelation between organisational departments and marketing. Along with them 7P's of marketing mix is also determined in this project which is essential for them to innovate their services and products to the clients. At last, marketing plan is also identifying as a part of this report.

TASK 1

P1. Roles and responsibilities of marketing function

Marketing functions is identifying as a role to recognise and source potentially successful goods and services for the marketplace and thus advertise them by distinguishing them from same products. There are different functions which are connected with the tool of marketing including sales support system, development of product, marketing research, human resource management, management of strategy, distribution system and so on (Baker and Magnini, 2016). These are play vital role in achieving long term growth and success of company internationally. In IKEA, there are various roles and responsibility of marketing functions which are explained under this:

Product: It is necessary and beneficial part for each and every organisation because with the help of these they can easily increase their sales. IKEA produce different products including outdoor furniture, eating, children's products, desks, bathroom stage, chairs, cooking, and many other appliances. In this role of the marketing function is to provide entire detail about business products and services to the customers.

Selling: It is considering another important and beneficial element which play vital role for providing goods and services to the end user. It is essential for the company to maximise their revenues and turnover in limited time period, beside this functions of marketing play important role by applying different kind of promotional mix considering sales promotions, advertisement, public relation and many other (Campbell and Martin, 2015).

Pricing: IKEA competes with different local supermarket as well as global retain chain. Low price of the business products constitutes its concept, vision and idea. Company makes low cost readymade furniture for offices and households. It is good for the enterprise to maintain strong relation in marketplace as well as customer also. Thus, marketing functions in the business has more necessary for the success and development of organisation.

Promotion: In this IKEA emphasis on different activities and functions of marketing (Functions of marketing, 2018.). For this purpose, company uses various tools of promotion like online ads, print, TV, Billboards etc. All these are highly essential for the company to introduced their new and unique products at marketplace. It is possible with the help of marketing functions because without this, they cannot gain more attention to the clients.

Financing: It is another important role of marketing manager is to find out optimum resources of finance where they collect accurate amount of fund for the activities of company. It supports the enterprise in accomplishing the objectives of developing IKEA together 2020. Main purpose of this function is to render relevant, timely, accurate, understandable and comparable financial data. Therefore, it is necessary for the business to do their all activities in proper manner (Dibb and Simkin, 2013).

Distribution: The products of the company are shipped from provider to distribution centers, where they are stored in racking, unloaded and them re-loaded onto road transport vehicles when served by stores. Distribution of the company products are divided into three parts such as convenient shopping, a day out the whole family, communication and interior design. Thus, it is important functions of marketing which support company to improve their position at global level.

Marketing information system: It is useful system which is applied by the IKEA in order to identify basic needs and preferences of audience. This system provides best opportunity to the manager regarding collecting of all information in sequential manner. Role of this function is to take an appropriate decision which facilitates company to gain competitive benefits in market.

M1. Duties of marketing with respect to marketing environment

In respect to marketing environment, tools of the marketing play vital role for achievement of long term objectives and goals in limited time period. There are various functions of marketing in the context of environment which are shown as below:

Market strategies: In this marketing manager play vital role for planning of effective strategy. It supports them to attract various number of customers in easily (Draelos, 2010).

Marketing research: It is the part of marketing functions which assist manager to do effective research program. This functions assist them to find out basic requirement of customers about IKEA products.

Monitoring marketing environment: Under this, company manger is responsible for controlling the issues with are arise in the environment. It also assists them to increase sales and revenue of the business in certain period.

Market segmentation: Marketing function also support the company to divide marketplace as per the needs and wants of customers. Thus, it helps in the attainment of long term objectives.

P2 Relation of roles and responsibilities with wider context of organisation

Marketing is essential and beneficial tool for the all departments who are working in the IKEA. It supports them to accomplish their predetermined and set objectives in limited period. In the business different departments are work with the assist of marketing. There are main functions with an organisation which are determined as below:

Research and development: In IKEA, R&D department play critical role for analysis needs and wants of customer by doing proper research program (Eslinger, 2014). It supports the business to attract wide range of customers as well as capture large number of market share. Along with them marketing manager play significant role for using various tools and techniques of marketing. Hence, marketing and R&D division are important for the success of business. Thus, it interprets both are interrelated with each other.

Customer services: It is the role of manager to provide accurate service to their potential and target clients in an effective manner. IKEA provide different services to their clients including: Home delivery, picking with delivery, assembly, Kitchen/Bathroom installation, Old Kitchen removing facility, Removal and return of mattresses, Sewing, payment, return policy, IKEA restaurant/cafe, IKEA exit bistro, Children's and many other services. All these are possible with the use of various marketing tools considering promotional mix, communication channels and so on.

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