Outline the information that is required by IKEA to assess the above markets and propose the research that you would undertake to gather the information, giving your justifications. There are 7 areas to consider: 1. Complete description of the markets: demand, consumer behavior, size, economies of scale, sales, 4 p’s...
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Who are the competitors: know the company, the way of doing business, structure and relations among the departments. What plans are developing that could affect Ikea, strategies in the short-term and long-term. 3. Economy-Foreign exchange information: size of the market, stage of development, GDP, GDP per capita, income distribution, economic risk, balance payments, interest rates, country currency; analysts opinion, trade area, imports & exports, industries, main sectors of economic activity...
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Marketing Overview 1) Marketing Environment 2) Market Opportunity 3) Organization's resources Market § Who are the customers? § Who are the competitors? § Why is our product purchased? § How is the product purchased? § Where are our customers located? § Etc? Economic § Analyze demand: How much will customer buy at different prices during a given period of time? We need to recommend pricing strategies that may/may not result in high margins, but will result in long-term growth...	2 / 366
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