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Analysis The Marketing Mix Of Two Specific Segmentations That Be Emphasized By Ikea's Marketing Strategy.

3011 words - 12 pages

1.Introduction1.1BackgroundThis report is the further report based on the initial report of Australian furniture retailing industry. Here, it will be mainly focus on one of the distinguished company in Australia - IKEA - operates in the furniture retailing industry. Meanwhile, it will attempt to analysis the marketing mix of two specific segmentations that be emphasized by IKEA's marketing strategy.1.2ScopeThis report is talking about two market segmentations of IKEA and its current promotional strategy to those different target segments. In examine the two segments, this report focus on seven Ps' from the sellers' view such as product, price, placement, promotion, people, process and physical evidence.1.3MethodologyThe data mentioned in this report has been collected from some journal articles, the home website of IKEA based on the two segments, and relevant links in its website. Moreover, the secondary data such as text books and annual report of furniture retailing industry have been also used in it.1.4LimitationsThe limitations of the report were lack of experience of data collection, time constraint, and the inability to book an interview with staff work in IKEA. The difficulty of obtain the current marketing strategies has been addressed as well.1.5AssumptionsIn preparing this report, it is assumed that the information gathered related to the topic is correct, and assumed that readers have the basic knowledge of marketing strategies.2.Segmentation2.1 Market IdentificationEven as Kotler, Brown, Adam and Armstrong (2001, p 10) explains that market is a group of all actual and potential consumers of a product. The core product of furniture retailing industry is furniture and decorations. Customers buy furniture to decorate their working or living place and obtain a better environment. The market of IKEA is all the customers who need the furniture. IKEA business idea is to offer a wide range of home furnishings with good design and function at prices so low that as many people as possible will be able to afford them. This group consumer is main market. They also create children furniture for kids. Due to it is global organization, IKEA has international market.2.2 Segment 1 Identification - "Work IKEA"IKEA has tried a new segmentation called "Enjoy Life, Work IKEA". This segment is based on business people who work in Australia. The Ikea marketers divided the market by the people who are work at home or from an outside office. These working people are usually white collars and they are belonging to the middle class of the whole society. The marketers believe that the key to making work a pleasure lies in creating a better workspace, the one designed with freedom, flexibility and fun in mind ( Therefore, IKEA marketers segmented this kind of working people into a particular group. According to Kotler, Brown, Adam and Armstrong (2001, p 294), they segmented the consumer market by demographic...

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