Critically assess the main approaches to global marketing that IKEA has been taking in its endeavour to implement effective global marketing decisions, policies and strategies

Scenario

The analysts forecast the Global Furniture market to grow at a CAGR of 3.53 percent over the period 2012-2016. One

of the key factors contributing to this market growth is the boom in Real Estate industry. The Global Furniture market

has also been witnessing the production of eco-friendly furniture. However, the shortage of timber supply could pose

a challenge to the growth of this market. The key vendors dominating this space include, IKEA International Group,

Ashley Furniture Industries Ltd, Sears Holdings Corp., and Steelcase Inc.

Originating from a small village in the south of Sweden in 1943, IKEA has grown into the biggest furniture retailer with

253 stores in 37 countries and territories around world. IKEA.

IKEA would like to further expand into global markets and appointed you as a global marketing consultant. You have

been asked by IKEA to prepare a report that addresses the following global marketing issues pertaining to the launch

of the IKEA brand in any of your chosen market.

TASK A

1. Critically assess the main approaches to global marketing that IKEA has been taking in its endeavour to

implement effective global marketing decisions, policies and strategies. (LO1)

2. Identify the management problems in the areas of global marketing that IKEA had to face in various

international markets and how did they attempt to overcome those problem? (LO6)

3. Critically evaluate the key marketing practices employed by other global organisations in global furniture

industry. (LO2)

TASK B

Prepare a global strategic marketing plan to support the expansion of the IKEA brand in your chosen market. The

plan should only focus on the consideration and discussion of the following issues:

You are required to prepare a brief profile of IKEA and your chosen market.

1. You will need to assess the global marketing environment specifically related to your chosen market and its

impact on marketing strategy formulation. (LO5, LO3)

2: You will need to develop appropriate marketing objectives in line with the IKEA’s corporate objectives to

support the expansion of the IKEA brand in to your chosen market. (LO3)

3: You will need to critically evaluate and suggest the appropriate market entry strategies to support IKEA’S

expansion in your chosen market. (LO5, LO3)

4. You will need to advise on the most appropriate marketing tactics that IKEA should take in your chosen

market to support its expansion.(LO3)

Guidelines:

In your report, you must make appropriate use of the concepts, principles and frameworks from the Global

Marketing Management course topics below (or similar topics from the recommended textbooks, academic journals

and case studies).

The minimum word count for your response is 4000 words.

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