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11-26.How would you describe IKEA’s marketing philosophy in terms of its value package, marketing mix, and overall approach?

11-27.Describe the consumer buying process for someone purchasing furniture. How would the buying process foran IKEA customer be similar to and different from thebuying process for someone purchasing furniture from a more traditional local store?

11-28.Search IKEA on social media. On the basis of what you find, how would you describe its target audience?

More Than Just Meatballs IKEA Unutarstock The first thing that comes to mind when you think of , meatballs or a Sunday afternoon spent meandering through the store’s giant warehouse, envisioning a new look for every room in your house. IKEA is the largest furniture and home appliance manu- Entrano facturer and retailer in the world. Founded seven decades ago in SmÃ¥land, Sweden, by Ingvar Kamprad, in 2019, the IKEA Group had 422 IKEA stores in more than 50 markets and employed about 208.000 people globally, with a port- folio of more than 9,500 products. In 2018, IKEA reported 957 milion store visits and 25 billion visits to the website. A large part of the company’s success is its continually evolving marketing strategy The brands that everyone knows are the ones that have a very clear identity. IKEA is one of those brands its message of ease, value, and maximizing your space is clear in everything it does. IKEA is well known for clean advertising with a few bold colors (blue yellow, and orange, which are the brand’s colors) and images showing immaculate homes with modern, clean decor. When you see a picture of an IKEA bedroom, you know it’s an IKEA bedroom IKEA is constantly adding to its offerings with new products that often become part of the permanent collection. Any time IKEA changes things up, it gives current customers a new incentive to come check things out, and creates new opportunities to catch the interest of would be customers In 2018, the world’s largest furniture rotilor shifted its marketing focus from rooms to product innovation, and in 2019, the company known for its thick print catalogs of furniture and home inspiration launched Catalogs updates on Pinterest, allowing retailers to upload their full catalog to Pinterest and turn the products into dynamic Product Pins in order to mine Pinterest’s prime audience of DIYers, how-to-ers, influencers, and customizers. “We didn’t want to just copy and paste–we already have a digital catalogue online,” says IKEA media project manager Kerri Longarzo “But promotions in the past felt a little stale. We were running out of ways to show the catalogue to people online, so we sought out something different. Thus, IKEA created a product questionnaire built into Pinterest to learn what users were shopping for and interested in Pinterest users could either let IKEA fin an auto- mated Pinterest board based on their responses or browse through recommended products and build their own boards. Pins in the program were linked to product and Catalog pages on the IKEA site “Our communication reflects IKEA values both visually and in one of voice, 30 marketing and communications coworkers include art directors and copywriters, Interior designers and project leaders. Together they work with the IKEA catalog, IKEA websites, publications, brochures, advertising, internal communication and public relations IKEA has run successful campaigns in which it has gotten insight from customers to help shape the company’s marketing and product decisions. A great example of Marketing Processes and Consumer this was IKEA’s First :59 campaign, in which they reached out to its customers to ask them about their morning routine and how it affects the rest of their day, and then provided resources to help make mornings better. IKEA’s marketing strategy clearly focuses on product and price elements of the marketing mix. Even so, the company doesn’t ignore place and promotion. Product campaigns contain engaging images, videos, and text, and items are deliberately placed in situations in which it almost feels as though the customer is stumbling upon them organically (rather than seeing them in a promotion). In addition to a strong social media presence, the company is embedded in pop culture. In fact, you can see IKEA products in movies such as Fight Club and 500 Days of Summer and TV programs such as 30 Rock, Being Human, and Ghost Town. None of this is random. IKEA’s marketing plan is closely tied to and informed by the overall business idea and company vision, which is prominently published on the website. “To create a better everyday life for the many people’, this is the IKEA vision. Our business idea is to offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. Our vision also goes beyond home furnishing. We want to create a bet- ter everyday for all people impacted by our business.”)