Read the Case and Answer the following Questions The Swedish brand of furniture sells a wide range of home furnishing products. Its affordably priced but good quality products have grown popular in several countries globally. This is an analysis of the marketing strategies and techniques IKEA utilized to achieve global success. The target market of IKEA is mainly the global middle class. It sells good quality and durable but affordable home furnishing products. The middle class consumers generally look for products that are good in terms of design and quality and come for low prices. It is also a reason behind the increasing presence and popularity of IKEA globally. IKEA uses both traditional and digital channels to advertise and promote its brand. It has used social media to attract and engage customers. Separate country pages are used to engage customers on Facebook. Pinterest, Twitter, Google plus and other social media channels are also used by the brand to promote itself. From time to time, it also uses well designed outdoor campaigns for promotion. Now, IKEA is using augmented reality to help customers get a better experience of how well IKEA products fit into their homes and lives. Another key area where IKEA has focused to build a better reputation is sustainability. People and environment are an important focus area at IKEA. This has helped it build a stronger brand image. The marketing strategy being followed by Ikea is customers oriented. 5-Marketing Mix is attractive and acceptable package offered by the company to the customers aimed at fulfilling their needs and achieving companys objectives. And it is done through analyzing: a. Product, place, price & budgeting b. Product, place & promotion c. None of the answers d. Product, place, price & service
Read the Case and Answer the following Questions
The Swedish brand of furniture sells a wide range of home furnishing products. Its affordably priced but good quality products have grown popular in several countries globally. This is an analysis of the marketing strategies and techniques IKEA utilized to achieve global success. The target market of IKEA is mainly the global middle class. It sells good quality and durable but affordable home furnishing products. The middle class consumers generally look for products that are good in terms of design and quality and come for low prices. It is also a reason behind the increasing presence and popularity of IKEA globally. IKEA uses both traditional and digital channels to advertise and promote its brand. It has used social media to attract and engage customers. Separate country pages are used to engage customers on Facebook. Pinterest, Twitter, Google plus and other social media channels are also used by the brand to promote itself. From time to time, it also uses well designed outdoor campaigns for promotion. Now, IKEA is using augmented reality to help customers get a better experience of how well IKEA products fit into their homes and lives. Another key area where IKEA has focused to build a better reputation is sustainability. People and environment are an important focus area at IKEA. This has helped it build a stronger brand image. The marketing strategy being followed by Ikea is customers oriented.
5-Marketing Mix is attractive and acceptable package offered by the company to the customers aimed at fulfilling their needs and achieving companys objectives. And it is done through analyzing:
a.
Product, place, price & budgeting
b.
Product, place & promotion
c.
None of the answers
d.
Product, place, price & service
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