IKEAs Marketing Strategy Plan and Financial Projections Research Paper Marketing Strategy Research Paper Course: Marketing Management Textbook: Marketin
IKEAs Marketing Strategy Plan and Financial Projections Research Paper Marketing Strategy Research Paper
Course: Marketing Management
Textbook: Marketing Management14ed. Kotler, Pearson. ISBN:9780132102926
For this course, you need to do research on that IKEAs Marketing Strategy.That research will then translate into full 7-pages paper, double-spaced paper, with citations in APA format. providing a rather comprehensive overview of the IKEAs marketing management program.
Marketing Plan Contents
Executive summary
Table of contents
Situation analysis
Marketing strategy
Marketing tactics
Financial projections
Implementation controls
Evaluating a Marketing Plan
Is the plan simple/succinct?
Is the plan complete?
Is the plan specific?
Is the plan realistic?
Other Marketing Plan Contents
Marketing research
Specifications for internal and external relationships
Action plans and schedules
Instructions:
1. Be creative but ensure that the paper is robust and substantial to warrant the points allocated to this assignment.
2. Add diagrams where it would be interesting, do analysis if appropriate, do proper citations, provide references.
3. Note that written business reports should generally be in the third person (not first person).
4. This is about full 7-pages, not including bibliography or title pages, charts or tables.
5. References should be a minimum of 6
6. Using APA style format for citations.
7. Wikipedia and other web-based encyclopedic sources may be used, but should only compile no more than 25% of the research resources.
8. Any verbiage taken directly from a citation should be put in quotations and cited properly.
Plagiarism is not acceptable in any form and a score of zero will be given on the paper, as the paper will be checked by Turnitin Website for plagiarism.
FYI I have attached the PPT files of Chapter 2 named (Kotler_mm15e_inppt_02rev), which is talking about Marketing Strategy Research and Plan, this chapter will help you when you do the Marketing Strategy Research on IKEA USA.
Textbook name:Marketing Management14ed. Kotler, Pearson, ISBN: 9780132102926
To have an idea about what the Textbook contains, kindly see the below:
This Textbook contains:
Chapter 01 Defining Marketing for the 21stCentury
Chapter 02 Developing Marketing Strategies and Plans
Chapter 03 Gathering Information and Scanning the Environment
Chapter 04 Conducting Marketing Research and Forecasting on Demand
Chapter 05 Creating Long-term Loyalty Relationships
Chapter 06 Analyzing Consumer Markets
Chapter 07 Analyzing Business Market
Chapter 08 Identifying Market Segments and Targets
Chapter 09 Creating Brand Equity
Chapter 10 Crafting the Brand Position
Chapter 11 Competitive Dynamics
Chapter 12 Setting Product Strategy
Chapter 13 Designing and Managing Services
Chapter 14 Developing Pricing Strategies and Programs
Chapter 15 Designing and Managing Integrated Marketing
Chapter 16 Managing Retailing, Wholesaling, and Logistics
Chapter 17 Designing and Managing Integrated Marketing Communications
Chapter 18 Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations
Chapter 19 Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling
Chapter 20 Introducing New Marketing Offerings
Chapter 21 Tapping into Global Markets
Chapter 22 Managing a Holistic Marketing 0rganization Marketing Management
Fifteenth Edition
Chapter 2
Developing
Marketing
Strategies and
Plans
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Core Business Processes
Market-sensing process
New-offering realization process
Customer acquisition process
Customer relationship management process
Fulfillment management process
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Core Competencies
A source of competitive advantage and makes a
significant contribution to perceived customer benefits
Applications in a wide variety of markets
Difficult for competitors to imitate
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Maximizing Core Competencies
(Re)define the business concept
(Re)shaping the business scope
(Re)positioning the companys brand identity
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Central Role of Strategic Planning
Managing the businesses as an investment portfolio
Assessing the markets growth rate and the
companys position in that market
Establishing a strategy
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Marketing Plan
The central instrument for
directing and coordinating the
marketing effort
Strategic
Tactical
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Figure 2.1 Strategic Planning,
Implementation, and Control Processes
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Corporate and Division Strategic
Planning
Defining the corporate mission
Establishing strategic business units
Assigning resources to each strategic business unit
Assessing growth opportunities
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Defining the Corporate Mission
What is our business?
Who is the customer?
What is of value to the customer?
What will our business be?
What should our business be?
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Product Orientation vs. Market
Orientation
Company
Product
Market
Missouri-Pacific
Railroad
We run a railroad
We are a peopleand-goods mover
Xerox
We make copying We improve office
equipment
productivity
Standard Oil
We sell gasoline
We supply energy
Columbia
Pictures
We make movies
We market
entertainment
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Good Mission Statements
Focus on a limited number of goals
Stress the companys major policies and values
Define the major competitive spheres within which the
company will operate
Take a long-term view
Are as short, memorable, and meaningful as possible
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Establishing Strategic Business Units
A single business or collection of related businesses
Has its own set of competitors
Has a leader responsible for strategic planning and
profitability
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Assigning Resources to Each SBU
Management must decide how to allocate corporate
resources to each SBU
Portfolio-planning models
Shareholder/market value analysis
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Assessing Growth Opportunities (1 of 2)
Figure 2.2 The Strategic- Planning Gap
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Assessing Growth Opportunities (2 of 2)
Intensive Growth
Integrative Growth
Diversification Growth
Downsizing and Divesting Older Businesses
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Intensive Growth
Corporate management
should first review
opportunities for improving
existing businesses
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Figure 2.3 ESPN Growth Opportunities
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Integrative Growth
A business can increase sales and profits through
backward, forward, or horizontal integration within its
industry
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Diversification Growth
Diversification growth makes sense when good
opportunities exist outside the present businesses
The industry is highly attractive and the company has
the right mix of business strengths to succeed
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Downsizing and Divesting Older
Businesses
Companies must carefully prune, harvest, or divest
tired old businesses to release needed resources for
other uses and reduce costs
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Organization and Organizational
Culture (1 of 2)
A companys organization consists of its structures,
policies, and corporate culture, all of which can
become dysfunctional in a rapidly changing business
environment
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Organization and Organizational
Culture (2 of 2)
Corporate culture: The shared experiences, stories,
beliefs, and norms that characterize an organization
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Marketing Innovation
Innovation in marketing is critical
Employees can challenge company orthodoxy and
stimulate new ideas
Firms develop strategy by choosing their view of the
future
Scenario analysis
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Figure 2.4 The Business Unit
Strategic-Planning Process
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SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
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External Environment
Marketing opportunity: an area of buyer need and
interest that a company has a high probability of
profitably satisfying.
Environmental threat: challenge posed by an
unfavorable trend or development that, in the absence
of defensive marketing action, would lead to lower
sales or profit
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Market Opportunity Analysis (MOA) (1 of 2)
Can we articulate the benefits convincingly to a
defined target market(s)?
Can we locate the target market(s) and reach them
with cost-effective media and trade channels?
Does our company possess or have access to the
critical capabilities and resources we need to deliver
the customer benefits?
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Market Opportunity Analysis (MOA) (2 of 2)
Can we deliver the benefits better than any actual or
potential competitors?
Will the financial rate of return meet or exceed our
required threshold for investment?
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Figure 2.5 Opportunity And Threat
Matrices
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Internal Environment
Strengths
Weaknesses
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Goal Formulation (MBO)
Units objectives must be arranged hierarchically
Objectives should be quantitative
Goals should be realistic
Objectives must be consistent
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Strategic Formulation: Porters
Generic Strategies
Overall cost leadership achieve lowest costs in
production and distribution
Differentiation be better than competition in an
important segment
Focus focuses on a narrow segment then
determines whether to use cost leadership or
differentiation
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Strategic Formulation: Strategic
Alliances
Categories of marketing alliances
Product or service alliance either a license to
produce product or market complementary product
Promotional alliance One company includes another
in its promotions
Logistics alliances provided to another companys
products
Pricing collaborations work together on special
pricing
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Program Formulation and
Implementation
McKinseys Elements of Success
Skills
Staff
Style
Strategy
Structure
Systems
Shared values
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Feedback and Control
Peter Drucker: it is more important to do the right
thingto be effectivethan to do things rightto
be efficient
The most successful companies, however, excel at
both
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Marketing Plan Contents
Executive summary
Table of contents
Situation analysis
Marketing strategy
Marketing tactics
Financial projections
Implementation controls
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Evaluating a Marketing Plan
Is the plan simple/succinct?
Is the plan complete?
Is the plan specific?
Is the plan realistic?
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Other Marketing Plan Contents
Marketing research
Specifications for internal and external relationships
Action plans and schedules
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Copyright
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
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