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MARKETING PowerPoint Presentation

MARKETING

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MARKETING

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  1. MARKETING ESL 105 Presenters: Hsiao, Hsin-Yuan Lin, Yu-Chun Instructor: Lyra Riabov

  2. Presentation Outline • Marketing Definition • Four P’s • IKEA’s Marketing Strategy • Conclusion • References

  3. The Definition of Marketing The movement of goods and services from manufacturer to customer in order to satisfy the customer and to achieve the company’s objective

  4. Four P’s • Elements: Product, Price , Placement, Promotion • Short-range Goal: thefour P’s work together to help position products and services correctly, and make sure sales can be more effective. • Long-range Goal: satisfy the target-customers and achieve the company’s objectives.

  5. Four P’s • Product:the full bundle of goods and services offered to the customer. Including: R&D, researching, testing • Price:how much you charge for your product or service. Pricing Options: above, with, or below market

  6. Four P’s • Placement: where and how your product is distributed and sold to the customer Channel of Distribution: Manufacturer→Wholesaler→Retailer→Customer • Promotion:communication between buyer and seller Including: personal selling and advertising

  7. Product Price Consumers Promotion Placement Four P’s • Marketing Mix:marketers identify their target market and adjust the four P’s to arrive at a mix that the customer will prefer over competitors.

  8. About IKEA • Found: in Sweden in 1943 • Multinational: more than 200 stores in 32 countries, four continents , including USA, Russia, Hong Kong, Spain, Taiwan… -The IKEA Group owns 180 stores in 23 countries. -The other 22 stores are owned and run by franchisees outside the IKEA Group in 14 countries (as of October 2004). • Employees: 84,000 co-workers and operates in 44 countries.

  9. About IKEA • Finance: sales for the financial year 2004 (1 September 2003 - 31 August 2004) totaled 12.8 billion euro (15.5 billion USD) • Vision: a better everyday life , low price is the focus

  10. The Target Market of IKEA • Middle-class, young people who • Like innovation, fashion, and new stuff • Like changing and enjoying life

  11. Four P’S of IKEA Product • Offer a wide range of home furnishings with good design and function • Typical IKEA style: simple , direct , natural, unrestricted • Flat packs and assemble by yourself

  12. Four P’S of IKEA Price • Pricing option: below market • Contract out: around 1,500 suppliers in 55 countries • Fixed price way: pricing before designing

  13. Four P’S of IKEA Placement • Direct marketing way: reducing the channel of distribution • Global sales net: more than 200 markets and shops allied in 32 countries • Logistics system: IKEA has 27 distribution centers in 16 countries

  14. Four P’S of IKEA Promotion • Catalog Marketing : - mail-ordering house - 145 million copies were printed in 48 editions and 25 languages - a promise of the price and products and helping systematic purchase

  15. Four P’S of IKEA Promotion • TV advertisement appeals: - innovation - change - fashion - colorfulness - variety

  16. Four P’S of IKEA Promotion • Creating a relaxed environment - Kid's Ballroom - Feeding and Changing rooms - IKEA restaurant - Showroom

  17. affordable solutions for better living Four P’S of IKEA Promotion • Slogan: affordable solutions for better living • Appeal: Young People of all ages

  18. Conclusion • Target market research plays an important role in marketing. • Every marketing strategy and activity stands on the four P’s and target customers. • Marketing activity affects product, price, placement, and promotion

  19. References