Functions of Marketing - IKEA

TASK 1

P1 Key roles and responsibilities of marketing function

Marketing is necessary function which consists procedure of advertisement of services and goods in order to enhance sales along with the sales. It is an effective procedure of delivering, exchange and also communicating better value for consumers, society and partners. It consist function which is concerned with an investigation. In order to make its business activities or better, it is necessary to maintain its channel of distribution. Under marketing involve activities which are concerned with management and study of exchange relationships. It is a responsibility of marketing department to maintain or conduct its marketing activities in an effective manner. Under this, there are several roles as well as responsibilities which have various function in company (Arguello, 2013). In addition to this, there are more necessary data or information is collected through IKEA business firm.

Roles and responsibilities of various marketing functions mention below:

Product: It is regarded as most essential part and IKEA company provide its effective quality of products on the basis of various demands or requirement of consumers in an effective manner. In context to this, it is a main responsibility of marketing manager to develop its unique good as comparison to its strongest competitors. Before conduct an investigation, marketing department know about the needs of consumers and their demands or needs in an effective or significant manner.

Price: This factor is necessary and it affect on purchasing behaviour as well as attitude of consumers. There is a requirement to IKEA company to set its costs of existing goods which are according to needs of consumers at affordable cost (Bačík, Štefko and Gburová, 2014.). It is necessary that manger should develop effective pricing structure and provide its goods at reasonable cost. With the help of this more and more people will buy its goods and sales of firm will be enhanced.

Selling: Under this, IKEA company provide its end goods to the final consumers. There is a requirement to management to adopt the convenient procedure which aid in use better channel of distribution of goods to end consumers and impact on their mind related to buy of goods. In context to enhance sales, IKEA organisation require to be check an availability of goods on timely basis.

Promotion: It consist use of different communication tools in context to develop better or positive relation with consumers and give them better information concerning with existing offerings. At market place, there are different tools and techniques which are used through many business firms. But IKEA organisation uses social media, newspapers, television, print media. These all are helpful in aware individuals about existing services of goods of consumers in an effective manner.

Management information system: It is a necessary part of marketing mix and helpful in gathering as well as disbursement of necessary information or data to various departments of IKEA organisation to finish their various activities with in set time period.

Production – Marketing: marketing department of IKEA assists production department in designing and production of their different products as per the needs of customers. Also, assessment of the quality of the products of competitors forces the production department is to use such innovate techniques which contributes their effort in making more quality and unique products which are valuable and durable from their competitors. It helps attraction of the customers of rivals and grabbing of their market share. Determination of the current trends and technologies by marketing department provides the base to manager of production departments is to effectively cope with such technological advancements happen in industry.

Finance – Marketing: Finance department is crucial to provide appropriate amount of funds to marketing department of IKEA. They also played the important role in bifurcation of funds in different activities of marketing along with formulation of whole budget for marketing department. Funds are such necessary aspect which helps the marketing department in usage of devices and approaches which are necessary to reach wide in market and affect the larger area of market.

Research and development – Marketing: The functions of research and development department and marketing are similar to each other. The main difference which persist within the functions of both departments is that focus of research and development department is checking of the quality of products and identification of the innovative ways through which more effective and attractive products are developed which provides aids in achievement of higher position in market.

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TASK 3

P3 Compare ways in which different organisations apply marketing mix

Marketing mix is helpful for firm to organise and manage the marketing tactic's in better manner through measuring various factors of marketing in a detailed manner (Cleverley, 2017). Under this, B & Q and IKEA organisation both use marketing mix in better manner and also generate its productivity of profit from the marketing structure.

Marketing mix of IKEA

Product- It is leading international retail chain that operate its business in all over the world. The products which are provided through IKEA company are children goods, outdoor furniture, mirrors, beds etc. This organization regularly make changes in business environment. Designs are always fresh and products of this organisation are different from other company. It promotes an idea related to democratic alterations. IKEA firm has about 9500 goofs and it renew its range of products and launch 2500 new goods annually.

Price- This firm used the cost leadership costing strategy. It provide its goods at reasonable cost (Desai, 2013). Less costs constitute concept, vision and business idea of IKEA. This firm makes household, offices and furniture at minimum cost. Its main focus on better details of operations as well as cost control.

Place- This organisation promote itself as multi- channel retailer and integrate offline and online channel of sales. The distribution strategy of IKEA firm is excellent and it is based on given principles (Dudu and Agwu, 2014). This firm has international channel of distribution such as large network of distribution.

Promotion- The main focus of IKEA organisation on its marketing activities or operations. It used many promotional tools such as online ads, print media, television etc. This firm launched conduct its advertising campaign in all over the world. Price discounts, coupons and festival promotions are provided by IKEA to consumer.

People- It provides importance to individuals, staff members and consumers. Workers of IKEA organisation believe in an idea to be straightforward individuals with a passion for the home furnishing. In addition to this, employee culture depends on enthusiasm, fun and togetherness (Forshier, 2012).