Introduction
Marketing is the most important aspect of every business organization. The marketing department is responsible for the success and failure of the business. Te marketing strategies are responsible for the brand development as well the packaging of the brand for the organization. The marketing strategy includes the branding, packaging, the goodwill, development of the brand as well the various aspects related to the marketing aspects of the organization. The marketing department is responsible for the branding and packaging of the product. Thus, the strategy shall consider the development of the 4 P’s of the organization in respect to its marketing and advertisement departments.
The case showed that the company is trying to develop new marketing and development strategies to focus on eth next year plans. These plans shall consider the marketing, advertisements and the product development issues for the organization and associate the business marketing and advertisements programs for the business. In order to deal with the plans ahead the company is trying to make new strategies that shall comprehend the business on new visions in the coming period (Haight, 2011).
The tenure of the next five years shall be a glowing beam for the business at shall develop the opportunities and expand the business development programs and make new strategies by seeing the status of competitors. As well, it shall maintain the overall respective programming and development opportunities that shall focus on the marketing and strategic opportunities of the business. There must be a number of plans and opportunities tats hall comprehend the business development programs to make it more successful and gain huge profit. These options shall comprehend about the optimum sources and manage the business development programs for the marketing departments of the organization.
The marketing and developments shall develop together and maintain the respective planning opportunities for the organization. Those marketing policies shall develop the respective human resources, advertisements and the promotions of the business. Those policies have been planned to comprehend bout the decisions relating the respective business policies (Guffey, 2009).
Marketing strategic aspects- expansion in the US
There a number of marketing aspects, that shall cover about the business aspects, which shall develop the respective business development programs. The marketing program shall cover the advertisement, new branding and packaging aspects to cover the respective brand image. As well, the marketing and advertisements programs shall maintain the respective share of the products in the market. In addition, it shall maximize the image of the product and maintain the respective share of the product n the market. In order to consider the respective market image, the marketing policies shall consist of the following action plans regarding the 4 P’s in the market.
The factors of growth and development for IKEA
4 P’s of marketing
Price
The price of the product shall be minister as according to the requirement of the product. As it has been considered among the necessities of human beings therefore the various aspects of the business divisions shall be considered. The price shall be competitive, although I must be made according the requirements of the market so that the quality of the product is not considered the lowest. The price shall be considered as balanced to the competing with the market as well bringing in a good amount of revenue for the business.
Product
The product categories shall definitely include the innovative products, the product categories shall be developed as per the requirement of the business. As well, it shall maintain the respective product development outcomes for the organization. The product shall include a number of various products like the subcategories, which shall be according to the fashion, taste, product requirements of the customer. As well, it shall include the respective product categories.
Promotion
The new promotion as acceding to the trend, fashion and the benchmarks, which shall suit the product and maintain the revenue of the product as required by the customers. Those promotional strategic outcomes for the business shall raise the revenues and plan for the product benchmark sales. As well, the promotion of the product shall be followed up through the branding and advertisement strategies to consider the respective business optimum sources.
Place
Place is an important decision, as the product is sensitive in this nature. The product shall be sold out to the neighboring countries that shall ultimately raise the profitability for the business and maximize the outcomes for the business. The product should be sold at the right place, at the right price to get the effective results and improve the outcomes of the business profitability.
Speculated strategies for IKEA
Branding
The brand shall develop the actual physical outlook of the product. The product is supposed to have its own image and the respective identity. The brand shall be designed s according got the requirement of the product. It must consider the respective outcomes for the buns stat shall comply with the standards of the business and maintain the outcomes for the business. In order to maximize the resources of the business developments and maims the outcomes, the business should plan for the respective identity of the brand. This identity of the brand shall maintain the outcomes and manage the resources of the business in regards to the business developments programs. As well, it shall maintain the business productive outcomes. He branding shall consist of the brand name, the logical brand design and implant the respective business strategies, which would include the respective business related programming and developments outcomes (O'Connor, 2011).
Packaging
Packing holds the prime responsibility as it shall consider the respective outcomes and manage the resources of the business. The packaging of the product shall accompany with the brand name and the other P’s of the marketing and develop the name, product image as well the overall business development programs. The business shall develop the respective outcomes and manage the resources regarding the business outcomes.
Summary
Marketing is a whole concept that develops the respective image of the brand. It is responsible to make an effective goodwill for the brand as well to maintain the brand image in the market. It is important to apply marketing techniques and ideas to make any business successful but with plan without plan. The branding strategies shall comply with the respective strategic outcomes and maintain the overall resources for the business expansion to make huge profit. The marketing is the key to plan in the future an effective program for the business and it is the way to plan each and everything by going through marketing strategies. It complies with the business developments programs and associates it with the brand developments of the organization.
References
Guffey, W. R. (2009). Determinants of Employee Support for the Strategic Plan of a Business Unit. SAM Advanced Management Journal , 1- 4.
Haight, M. M. (2011). Value in Outsourcing Labor and Creating a Brand in the Art Market: The Damien Hirst Business Plan. American Economist , 56 (1), 1- 9.
Mohamed Behery, F. J. (2014). Adopting a contemporary performance management system. International Journal of Productivity and Performance Management , 63 (1), 22-43.
O'Connor, C. M. (2011). Blended Learning: Issues, Benefits and Challenges. International Journal of Employment Studies , 19 (2), 12-17.
Wall, E. E. (2008). Business Plan Development for Service Ventures: Integrating Customer Experience Management. Entrepreneurial Executive, , 1- 12.
