IKEA's Marketing Strategies
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The paper offers an introduction to marketing and explains that successful marketing practices are a direct result of the capacity to create lasting relationships with customers and businesses alike. The paper looks at IKEA as an example of a company that has used marketing practices successfully and has beat out virtually all competition in the market. The paper discusses IKEA's utilitarian, affordable furniture that is designed to be assembled by its customer, as well as the company's recent expansion into e-marketing.
From the Paper:"What is marketing? Marketing is the relationship between businesses and customers, it is the ability to create and maintain profitable business relationships through targeting certain aspects of consumers using the result from the collection of information and the response to the growing and changing needs of the customer. Marketing is a process in which companies communicate value of products and services in order to create a powerful relationship with the customer by delivering specific wants and needs to the customer, and in turn capturing the value of the consumer rapport. Successful marketing can be summed up as a lasting relationship with a customer or client that provides lasting relationship that are profitable for both parties. The customer benefits by an increased production and sale of products that satisfy needs, wants, and demands, while the marketers benefit from the long term relationship that creates long term customer equity resulting in a strong increase in profit growth and a positive business to customer marketing cycle."
Sample of Sources Used:
- IKEAs global marketing strategy. Retrieved May 5, 2007, from http://www.icmr.icfai.org/casestudies/catalogue/Marketing/IKEA- Global%20Marketing%20Strategy.htm
- IKEA.com. Retrieved May 5, 2007, from,www.IKEA.com
- Wikipedia. IKEA. Retrieved May 4, 2007, from, http://en.wikipedia.org/wiki/IKEA
Cite this Term Paper:
IKEA's Marketing Strategies (2010, May 28) Retrieved May 31, 2020, from https://www.academon.com/term-paper/ikea-marketing-strategies-119912/
"IKEA's Marketing Strategies" 28 May 2010. Web. 31 May. 2020. <https://www.academon.com/term-paper/ikea-marketing-strategies-119912/>