Description
- Deadline: 19/11/2019 @ 23:59
- Assignment has to be in Word format only no PDF.
- First page of the assignment is the cover page, it should be filled properly.
- Second page should be Assignment question
- After the question page then present your answer
- i hope you do it by yourself without copying too much... the copy percentage should not be more than 20%
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Explanation & Answer
Hello! Please find the atatched as the final answer
Running head: MARKETING MANAGEMENT
Marketing Management
Student’s Name
Institutional Affiliation
1
MARKETING MANAGEMENT
2
Question One
Ikea company was started in 1943 (IKEA, 2019). The company started as a furniture
retailing company based in Sweden. The company designs and sells furniture, food product, and
other home appliances. Ikea is a private, family-owned company. Its headquarters are located in
the Netherlands (IKEA, 2019). The company is ranked as the leading furniture retails in the
global market. During its establishment, the founders identified the need to create a better
everyday life for many people as the company’s vision (IKEA, 2019). Additionally, the
company’s business statement is to offer a variety of well-designed home furnishing products at
low prices and can also affordable by many people (IKEA, 2019). Further to this, its main
objective is to help customers improve their home and professional environment by offering a
wide range of furniture, textiles, and utensils at reasonable prices (IKEA, 2019).
Question Two
The nature of Ikeas operations necessitates the need for an appropriate marketing plan
that can also be executed within the company's capabilities. The company has adopted a
marketing plan based on three factors, including targeting, segmentation, and positioning. The
company uses demographics, psychographics, and geographic to segment the market in which it
operates (Jacobs, Chase, & Lummus, 2011). Through target marketing, the company realizes
consumer needs, whose main focus is to get goods and services worth their money. The company
is also known to sell a...