IKEA

Marketing Strategies of IKEA and Their Effectiveness

[Name of the Institute]Marketing Strategies of IKEA and Their Effectiveness

Introduction

Marketing over time has become an integral part of any company's core operations. No matter how distinctive and competent a company's product may be, it will not yield company the desired return, unless the marketers market the products in the right and appropriate manner. Marketing enables the company to pitch the product and the brand to the desired consumer market and let them acknowledge the worth and standard the brand possesses. The aspect of devising the suitable marketing strategies bearing in mind the needs and desires of consumers, and the most appropriate way of successfully implementing them will allow the company to gauge the effectiveness of their marketing endeavours.

There are numerous companies in the world that are famous for their marketing genuineness amongst those companies; Ikea possesses a significant position, which is now amongst the world's largest furniture retailer. Amongst the main strengths of Ikea, are its astute marketing strategies and their successful implementation throughout the world (Armitstead, 2010, pp. 5).

However, the marketing and business practices have drastically changed from previous to modern times. Now a cognitive mind is coerced to ponder, as to what brought these changes in the world with respect to all the previously mentioned aspects. The honest answer one receives is, the modern era is substantially different and developed than all the precedent era; mainly because of the technological advancement this world has achieved. This technical advancement, the progress and development, the world has experienced has undoubtedly positively affected all spheres of the world, but the most influenced sphere is that of business and trade.

According to numerous researchers, the main aspect that caused the change in the attitude of the firms and their practices towards the needs and requirements of consumers is not only the competition and the thirst of continuously attaining the competitive advantage with in the region; but the researchers believe the dominant player to be the globalisation. Ever since the phenomenon of globalisation has escalated and the barriers of trade between the countries lessened; the corporations received yet another domain vibrant of opportunities and untapped markets, with respect to the products, they offer. Moreover, it is the phenomenon of globalisation that dawned upon the organisations that the success of effective marketing and operations does not lie in the fact that a same product can be produced and sold everywhere in the same manner. This aspect of globalisation and the current business practices, paved way for creativity, and out of the box thinking for the marketers of Ikea, to be able to devise creative yet effective marketing techniques that would not only enable the firm to cater successfully to the target audience what they want, but also attain the desired goals and objectives.

As discussed earlier that these previously mentioned changes, drastically altered the business practices of the regions and the firm established in those regions. In earlier times, history does not state the rigorous analysis of the market, its segment, ...