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Roles and Responsibilities of Marketing Function in IKEA

University: Regent College London

  • Unit No: 2
  • Level: Undergraduate/College
  • Pages: 15 / Words 3755
  • Paper Type: Assignment
  • Course Code:
  • Downloads: 64

INTRODUCTION

Marketing refers to developing, delivering and promoting services and products to businesses and customers. It is an activity, processes and set of institution for developing, exchanging, communicating offerings which have some value fort partners, consumes, society and partners at large (Askeland and Wright, 2013). It is a responsibility of manager to conduct all marketing related activities in an effective manner, this project is based on the IKEA organisation. It is a multinational group that prepare and sells ready assemble kitchen appliances, home accessories and furniture. In this given report discuss about the roles and responsibilities of marketing function for firm. Ways under which IKEA company applies marketing mix to process of marketing planning in order to attain business goals. Firm develop the marketing plan for doing all marketing related activates or operations in systematic manner.

TASK 1

P1 Key roles and responsibilities of marketing functions

Marketing is consider as an important activity for business because it helps in exchanging as well as delivering positive relation which their customers by providing them quality services. As it is vital for business owner to understand all the function of marketing to execute all the activities in most effective manner. This will contribute in attaining set goals and objectives in an appropriate time frame. AS there are some major roles and responsibilities of marketing function in IKEA which leads in grabbing customers attention towards its products and services. All these are as follows:

Marketing information management: MIS consider as an important function which helps in gathering as well as collecting information about market and customers taste as well. With the help of this function, manager of the marketing department to develop effective report of entire activities of operations. This will lead in delivering quality products and services in market place and at the same time also aid in capturing customers attention by fulfilling their needs (Blacher-Wilson, Mense and Richardson, 2011).

Distribution management: This marketing function is also an important for business organization which helps in managing all the products and services for attaining desirable results. In context of IKEA, it is important duty of manager to understand marketing needs in order to serve their products and services at global level. This will contribute in capturing larger market share from its rivals by delivering right products to right customers.

Product and service management:It is another important marketing function for firm because it contribute in managing products and services. As products are tangible in nature so that it is important duty of manager to manage all the products effectively. For accomplishing positive brand image, IKEA should deliver quality products to right customers by understating their needs and wants. As it helps in increasing profitability level of the company.

Pricing:It is an important term which change by the company to its customers for exchanging specific products and services. As it is important for IKEA to use effective pricing strategy for maximizing the portability level and at the same time also reduce the any kind of risk factors (Clow and James, 2013). Along with this, company should set their product price appropriate in order to grab customers attention towards its quality services.

Promotion:For attaining higher success at market place, this function play vital role through which firm promote their products and services in market with the aim of enhancing sales. As a famous company IKEA, they use effective promotional tools to invite larger number of customers towards its new and innovative products. This will contribute in capturing market share form its competitive at market place by establishing positive brand image.

Selling: It is important function for company in which customers pay money for exchanging goods and services in market place. With the help of this, company easily generate profitability level at market place. In context of IKEA, they serve their grocery items to buyers with the purpose of attaining productivity level at market.

Financing: Financial fund is important component for every department to execute entire activities in an effective manner. In this marketing team define requirement of fund to products quality products and services. Along with this, marketing functions is also vital for firm to increase profitability level of the company by using effective process. In context of IKEA, for attaining better success at market place, company should keep proper funds to make quality products and services.

P2 Roles and responsibilities of marketing relate to wider organisational context

Under this, business is composition of different activities or tasks which aid for companies in context to achieve set targets and aims in an efficient manner. In an organisation, there are many functions which need to be taken place properly. It will be helpful in process of decision making to managers of firm. The base of most of the organisation structure on their functional areas of firm to developing more division in such functions and also segment responsibilities as well as roles of staff members. Under this, there are responsibilities and roles of marketing relate to organisational context mention below:

Human resource management & marketing: In this, there are different department on the division which are working in company and interrelate with the each other in better manner. In marketing function, human resource function plays a necessary role. Manager provides training to employees of marketing so that their core competencies and knowledge will be enhanced and they can interact with consumers in better manner (Desai, 2013). It will be helpful in providing competitive advantage of company. In IKEA firm, HR manager should know about their responsibility and roles effectively.

Finance and marketing- These both functions are related with the each other and for conducting business operations and activities in significant way. In order to launch any new service and products, finance department provides funds to IKEA organisation. In addition to this, it is a responsibility of finance manager to examine every and each aspect of finance ion proper manner and also make some of the necessary corrections, according to operations and activities, finance function lead to be allocate funds for launch event by which firm can provide information of services and goods to consumers.

Customer service & marketing: Productivity and success of business based on efficiency of leaders and managers. It is necessary for all staff members to understand about their responsibilities in proper manner. Through this they can work in systematic manner. In addition to this, there are different divisions which are identify in firm. The customer service is necessary in firm. In customer service, employees resolve any queries and issues of consumers related to any product and service. Through this, marketing department can make some required changes in its goods to satisfy demands of consumers in an effective way.

Production and marketing- Under this, team of marketing gather information or data from market place regarding its existing services and products. From this they can manage their manufacturing process systematically. It is a responsibility of production department to produce goods of better quality and on the basis of demands and preferences of consumers. Marketing department should make some innovation in existing goods to attract large number of consumers towards firm (Getnet, Kedir and Yousuf, 2014).

Research and development function & marketing: New innovation and invention both are main things for each organisations which need to be taken to to an account to increase sales along with the profit level. In addition to this, invention and renovation make the marketing functions by which the marketing department able to be perform its work in proper manner. Before developing any new product, research and development department conduct an investigation to know about requirements as well as needs of people.

TASK 2

P3 Ways in which IKEA organization applies the marketing mix to marketing planning process

Main target for each firm to retain at the market place for long period of time. There are different techniques and tools to get adopt through firm in a proper manner by which firm can able to achieve aims and objectives in a systematic manner. In addition to this, marketing mix refers to foundational marketing model which facilitate option tough which IKEA company can achieve its long term aims and objectives. The marketing mix of IKEA and Walmart.

Basis

IKEA

Walmart

Product

IKEA is famous retail company which operate their business at global level. As they offer their products in wider market. Along with this, IKEA also divides their products into outdoor furniture, children's product, beds, chairs, clothes storage, bathroom stage and more products in market. All these will help in attaining profit at market place (Griffitts, 2016).

Walmart is multinational retail corporation. It provides products in various types of departments like apparels, electronics, grocery, Home décor, Home furnishing, entertainment, hardware, Pharmacy etc. It offers approx 8 million of products worldwide. It also attracts its customers by offering them money back guarantee if they are not satisfied by the products. This company is famous among its customers as they meet all of their requirement under one roof.

Price

As a famous retail chains IKEA set their product price affordable so that customers can easily buy and consume. Along with this company produce low cost furniture for various purpose with the purpose of attaining better success at market place.

Walmart is one of the renown brand in the retail industry. The company offers huge variety of products which ultimately makes the price reasonable. It prefers different pricing strategies to retain its existing customers & attract new one. They approximately reduces there prices by 15% compared to their competitor. Walmart also uses special tag lines “ save money, live better” which reflects that company itself is focused on reducing the price of products (Jones and Rowley, 2011).

Place

IKEA having excellent place where they serve their products and services to number of customers. Along with this, IKEA has more than 25 distribution centres in various countries. In this the products are distribute by suppliers directly. It helps in reducing the cos of transportation as it helps in increasing the profitability level at market place.

Walmart is basically working under three divisions i.e. Sam's club, Walmart stores U.S, Walmart international which are further classified in four different section Walmart discount stores, Walmart super centres, Walmart neighbour markets, Walmart express stores. It has approx 11500 retail stores in 28 countries. Walmart is working on extending the footprints of there outlets which make shopping more convenient for its customers and attract them continue with this brand.

Promotion

IKEA focus on marketing activities in which they use various promotional tools such as T.V online advertisement, billboards and many more to increase demand of the products and services. In addition of this, they also launched marketing advertisement campaign to promote their services ion market place with the purpose of attaining profitability level form its rivals. This will aid in increasing public awareness towards its products and services (Jones and Rowley, 2011).

Promotion is very important for the organization to make their customer recognise them. It also increases sales of the products. Walmart's promotional activities are the inclusion of advertisement, personal selling and public relation. Slogan which is used by this company's website is “ grab it before it's done” to attract its customers so that they will purchase quickly in the fear of loosing the deal. On shopping from website customers also gets gift which attract them to shop more.

People

It is refer to the workers and customers as well. As IKEA employees are skilled and capable as they implement new and innovative ideas to produce quality products and services. Along with this, they also understand customers needs and wants to provide them better satisfaction. This will enhance the profitability level of the company. In addition of this, company provide training and development programs to their workers to enhance their performance level at workplace. By this they effectively execute their business activities with the purpose of grabbing customers attention.

Employees & staff are the asset of Walmart. It has more than 2 million employees world. This company spends lots of amount in providing training to its staff as they are the one who represents companies name, deals with the customers and resolves their queries.. Highly trained staff are expert to persuade the footfall which increases sales.

Process

IKEA has effective process with their production process as they easily produce quality furniture to its customers. As they use new and innovative technologies within manufacturing process to reduce the overall cost of the company. With the help of this company may enhance customers base by producing quality products in market place.

Walmart follows very smooth & effective process which helps the customer's shopping easy. Its process involves usage of high technology which has reduced the time customers as well as employees. It provides trolleys, various billing counters, different mode of payments, proper alignment of products to its customers which saves their time.

Physical evidence

IKEA is biggest company as they having more than 350 stores which cover various countries. As they include attractive outlets which helps in providing positive shopping experience to its customers for grabbing their attention towards its products and services. Along with this, they also provide better parking space to to customers. Currently, the biggest stores are in Sydney and Montreal. As they enhance the profitability level at market place.

Physical evidence refers to the outer structure and appearance of the organization. Walmart has more than 11500 stores worldwide and each store carries multiple category of products with their availability all time. This added the brand value in the retail market.

TASK 3

P4 Basic marketing plan for IKEA

Marketing plan consists different things like for an instance mission, business, vision and objectives of an organisation. It consists regarding budget that require to incur ion different activities of in in an effective manner. The marketing plan is helpful in at the time of doing all marketing activities or operations in a systematic manner or with in set period of time. Under this, IKEA company develop an effective marketing plan involves various elements as well as aspects:

Vision of IKEA: Its vision is to develop each day of like better of people by providing effective quality of home furnishing and well designed products.

Mission of IKEA: Mission of this business firm is to expand it business in all over the world and make life of people more comfortable.

Objective of IKEA: Its main objective is to provide broad range of home furnishing products of better function and design, durability and also excellent quality. It provides growing direction to employees and employers in better manner (Kennedy and Parsons, 2014).

Situational IKEA: It is necessary for business in order to examine internal situation of business by which firm can develop this type of strategies in an effective or better manner. In addition to this, basic evaluation of IKEA firm can be done by SWOT analysis.

Strengths

Weaknesses

  • The knowledge of consumers about the services and products is better.
  • An integration of supply chain is better.
  • The market presence along with the brand reputation of company is better at market place.
  • It measure its capabilities by using metrics given through Key Performance Indicator that consist enhance use of raw materials.
  • The services and products of IKEA organisations are cost effective so that consumers can easily purchase goods (Ryan, D., 2016).
  • The research and development department of IKEA firm helps in making products more innovative.
  • IKEA company conduct its business operations in several countries and face troubles of local market. In addition to this, because of expansion issues, IKEA firm got in to corruption.
  • It is not able to maintain its standard and in Asia it has weak position.

Opportunities

Threats

  • It has better opportunities to expand its business in to the emerging markets.
  • It can make its production in China and India.
  • Adding the premium quality of home accessories, furniture products and many others.
  • It can make strategic partnership with some other brands (Swenson, Rhoads and Whitlark, 2014).
  • It can provide the cost leadership competitive benefit with the help of using technological innovation.
  • Competition emergence from Asia.
  • Enhance raw material costs.
  • Reduction in demand because of enhance income level of customers.
  • Financial crisis and also global economic

Marketing mix of IKEA

Product

  • Range of goods which are sold through IKEA organisation is vast.
  • It has large number of products such as baby products, bathroom stage, mattresses, clothes storages, furniture etc.

Price

  • Cost of this company's products are low.
  • Its main focus on better operational details as well as cost control.

Place

  • Distribution network depends on necessary principles (Urbina, 2014).
  • It provide services an products in international markets.

Promotion

  • IKEA promote its products with the help of television, newspapers, print media, social media and many others.
  • This firm also conducts public relation campaign.

Marketing Budget-IT is helpful for company by which business will able to make its all activities along with operations better. Manager of IKEA company developed effective telemarketing budget under which different savings as well as budgets are involved in proper way.

Marketing budget

Particulars

1st year

2nd year

3rd year

4th year

5th year

Initial money

55000

12600

14200

20000

16000

Investment

20500

14800

16000

14200

Total

50000

33100

29000

36000

30200

Marketing expenditures

Advertisement

9600

6700

6200

6000

6400

Sales promotion

2000

2000

4500

3000

8500

Direct marketing

7000

6000

2000

7000

2000

Total

18200

14700

12700

16000

16900

Available balance

31800

18400

16300

20000

13300

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CONCLUSION

It has been concluded from the above-given report that marketing is a broad concept in which all various functions are working. Under this, it is necessary to understand concept of marketing in better manner. Marketing function plays a necessary role in business and also able to increase the operations and activities of firm within a given period of time. Roles and responsibilities of marketing concerned to broad organizational context have been studied in this report. Under this given report discussed about comparison among the different organizations like for an instance IKEA and Walmart.

REFERENCES

  • Clow, K. E. and James, K. E., 2013. Essentials of marketing research: Putting research into practice. Sage.
  • Desai, S. S., 2013. An analysis of the competitive marketing strategies of the hospitality industry in UAE. IUP Journal of Management Research.12(1). p.22.
  • Getnet, E., Kedir, A. and Yousuf, J., 2014. Challenges and Prospects of ICT Use in Agricultural Marketing: The Case of East Hararghe Zone, Oromia National Regional State, Ethiopia.International Journal of ICT Research and Development in Africa (IJICTRDA).4(1). pp.41-60.
  • Griffitts, M., 2016. Human Resources Marketing and Recruiting: Essentials of Internship Management. Handbook of Human Resources Management, pp.103-118.

You may also like to read: Various Function Of An Organization ASDA

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