Marketing Audit Approach - Ikea

1571 WordsJul 12, 20087 Pages
Marketing Audit Approach - IKEA Marketing Audit Overview “What is a marketing audit? Quite simply, it is a detailed analysis of the elements that constitute or influence a company’s efforts to profitably market its products- today and in future when both market and products may undergo radical change” ( John, Alexander, & Theodore, 1969). The marketing audit helps to understand the fundamentals of a company’s marketing planning process. Auditing is not only conducted not only at the planning stage and also conducted during various stages until the implementation of the marketing plan. Organization The selected organization for the marketing Audit is IKEA Group. As part Phoenix University marketing course, the author of this…show more content…
Product – In terms of product, the author will perform an analysis among the IKEA competitors and identify whether this product line is appropriate or not. Is this product line serves the customer expectations? In addition, the author will provide recommendations on the changes should be made in how the products are being handled where applicable and necessary. Price – In terms of price, the author will analyze IKEA’s pricing strategy to see what kind of pricing strategy IKEA uses such as premium pricing or economy pricing, promotional pricing or value pricing? IKEA always attempts to provide low prices. The author will analyze the pricing strategy using links available at IKEA student webpage (How IKEA creates its low prices, IKEA products are manufactured all over the world) and will provide an overview on how IKEA is able to achieve low prices. Place – This section of the document will evaluate IKEA’s distribution process and the effectiveness of the process. The data will be collected from IKEA’s student website (Distribution – from supplier to store). The analysis will include the distribution of products for store sales and internet sales. Promotion - In terms of promotion, IKEA follows a marketing mix. The data for this analysis is available in the student info website. Although the funding information is not readily available in student website, the information can be gathered from

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