Marketing plan for selling IKEAs furniture to India 1.docx
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Marketing plan for selling IKEAs furniture to India 1.docx
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MarketingplanforsellingIKEAsfurnituretoIndia1
Jiangxiuniversityof
FinanceandEconomics
InternationalMarketingassignment
----MarketingPlan
Topic:
SellingIKEA’sfurnituretoIndia
School:
BusinessAdministration
Class:
internationalmarketing131
Teamname:
Fireworks
leader:
袁淑艳0130837
members:
孔雨录0130797
刘嘉欣0130845
邝福香0130834
胡灯飞0130805
支路0130812
Content
3.1segmenting..........................................................................................................6
Introduction
SwedenIKEAcorporation,foundedinSwedenin1943,hasbecometheworld'slargestfurnitureandhouseholdproductsbusinesses,salesmainlyincludesseat/sofaseries,officesupplies,bedroomseries,kitchenseries,lightingseries,textile,cookerseries,homestorageseries,children'sproductsseries,etc.About10000products.Ithasmadegreatachievement,butitsstepneverstop.
Inrecentyears,IKEAhasmakeplantoaccesstoIndianmarket.AndwemakeamarketingplanforIKEAtosellingitsfurnituretoIndia.Thefollowingarethedetailofourmarketingplan.
1.Marketingplanningpurposes
ThemainpurposeofthemarketingplanissellingIKEA‘sfurnituretoIndiamarket,throughtheanalysisofthemarketingenvironment,enterpriseitselfandcompetitoranalysis,andthenaseriesofrelatedmarketingplan,inordertoachievesmoothrealizationtoIKEApromotiontothemarketinggoalsoftheIndiamarketsmoothly.Specificgoalsareopening25IKEAstoresinIndiainthenextfuturetenyears,beingpopularamongIndians,meanwhilehelpingIKEAtograbsomemarketshareinIndia.
2.Marketingenvironmentanalysis
2.1Macroenvironment(PEST)
2.1.1politicalandlegalenvironment(P)
Asforthepoliticallevel,theIndiangovernmentsetupahighthresholdtoholdbackforeigninvestors,thusforeigninvestmentapprovalprocesswasverycomplexanddifficult,administrativeefficiencyislow.Besides,officialcorruptioninIndia'sdomesticisrampant,therent-seekingphenomenonissocommonateverywhereinIndia.
Intheaspectoflaw,in2006,Indiangovernment’sbanningonforeignretailersbegantobeloose,overseassinglebrandretailerscanhave51%stakeinmostlocalstoresthroughmergersiftheywereallowedbysomerelatedIndiangovernmentparts.AndinJanuary2012,theIndiangovernmentbarriersthatpreventingforeigncompaniesdoinvestmenttoentryIndiamarketwasloweddownagain,.thesinglebrandcanbeintheformofawhollyownedforeignretailersintotheIndianmarket.ButIndia’slegalsystemofprotectingforeigninvestmentisnotperfect,onceappear,commercialdisputesisdifficulttofindthereasonablerightsofchannel.
Industrialpolicytopromotedepartmentrecommendsregulations,foreigncapitalretailneedstobehalfofthetotalamountofinvestmentintosupplychaininfrastructureconstruction,banonforeigninvestmentinurbanconstructionwithapopulationoflessthan1millionstores.Keylimitationisthelocalpurchasingterms,thatis,bymorethan51%offoreigninvestmententerprises,30%ofthepurchaseshouldbelocallyinIndia,andgivepreferencetomicro,smallandmediumenterprises.
2.1.2Economicenvironment(E)
Atpresent,Indiaisarapidlygrowingmarket,nowhas$1000percapitalGDP.Aftertenyearsofreform,theIndianeconomyisgettingridofthe"thedilatorygrowthspeedofIndia".Inthefuture,IndiawillbecomeAsia'sthird-largesteconomy,rankingafterChina,Japan.
2.1.3Thehumanitiesandthesocialenvironment(S)
Indiaisacountrywithastrongreligiousbeliefculture,therearemanyreligions,includingHindumajority,85%,followedbyIslam,Christianity,Buddhism,JudaismandZoroastrianism,Jainism,andsoon,allthedifferentreligiousexistinginharmony.
India'spopulationislarge,accordingtoChina'sXinhuawebsite,itspopulationhasreached1.2102billionin2011,thepopulationissecondonlyafterChina.TheIndianidentityishierarchy,theyputidentifyasonesignificantsymbol.
Inaddition,insomepartsofIndia,publicsecurityispoor,especiallyinthenorthwest,northeastandeasternregions,crimerateissohigh.
2.1.4Technologyenvironment(T)
India'sinfrastructureisquitelagged,thetraffictransportationmanagementislowefficient,electricityisinbadlyshortsupply.ButIndia'shighandnewtechnologyismoredeveloped,thepast20years,India'sgovernmenthadlotsofpoliciestosupportscienceandtechnologyespeciallytheinformation,biology,materialsareas.Theseyears,theIndiansoftwareindustryintotaliswell-developed,thenumberofInternetusersinthecountryaregrowingfast.
2.2Themicroenvironment
2.2.1Industryanalysis
Atpresent,theIndianfurnituremarketisarapidlyexpanding,opportunitiesingrowthmarkets,furnituremanufacturingindustryisinastateof"disorder",India'sdomesticenterprisesoccupythemainposition,butmoreandmoreforeignenterprisesenteringorabouttoenterthefurnituremarketinIndia.Inaword,India'sfurnitureindustryispromising.Inthenext10years,India'sfurnituremarketwilloccupiesapivotalpositionintheglobalfurnituremarket.
2.2.2Competitiveanalysis
Atmoment,Indiafurnituremarketoccupiedby85%thefolkartistsof"loose"company,showing"disorderly"chaosmarketstructure.But,inrecentyears,India'sonlinefurniturebusinesshasdevelopedrapidly,competitionisfierce.Someonlinefurnituresuppliersuchasthepepperfry,UrbanLadder,Fabfurnishfurniture,theyhavebeenwelldeveloped.Thefollowingarethetop3onlinefurnituresupplier:
Pepperfry
one-stophouseholdplatform
Highuserstargeting,strongappealto"lazy"users
UrbanLadder
onlinehomeoutfitdesignplatform
Technologyadvantaged,strongattractionforyoungpeoplelovingdesigningthemselves
FabFurnish
TobeonlineIKEA
Highquality、notonlyonlineretailersbutalsoofflineexperience
2.2.3Consumeranalysis
Asthehousingmarketofmid-rangeinIndiancitybooming,peopleincreasetheirdemandforfurniture.PlustheIndiansfocusontheirhousingappearancewhichmakehigh-endfurnituremarketbepromising.AndinIndia’sfurnituremarket,themiddleclassofIndiaisthemaindemand.
Indiaalsopursingthefashion,buttheIndianfashionarelesselements,compositionofasingle,changecycleislong,recognizeddegreeishigh,andisnarrowrangeofcharacteristics.FashionismainlyacceptedbymiddleclassinIndiaaspartoftheirwayoflife.Asthepremiseofproductandbrandstratifiedclear,Indiansaremorewillingtoacceptaclearpricesystem,theydon'tliketobargainawaysharply.
2.2.4Enterpriseitselfanalysis(SWOT)
Strength
Productisenvironmentalfriendlyandvarious,highperformance-priceratio
Highbrandeffect,theworld'sbestbrandsbefore50
Excellententerpriseculture
Superiorproductdevelopmentsystem,low-costsales
Large-scaleprocurement
Weakness
Localizationadvantageisnotstrong
Thelackofhigh-endproducts
Channelcoveragewithoutpreemptionofsuperiority
Opportunity
Thesuperiorleadingenterprises
FurnitureMarketcapacityinIndiaislarger
Ofcontractmanagementpattern
Threat
Productdesigniseasytobecopied
Qualityandservicethedrawbacksofathreat
ThethreatofIndiaonlinefurnituresuppliers
3.STPstrategy
3.1Segmenting
Accordingtotheincomeandlivingstandard,theIndianpeoplebasicallycanbedividedintothefollowingfourclasses:
veryrichclassandthepoor,middleclassandcivilians.Differentclasseshavedifferentconsumptionabilityandconsumptionpreference.
Hierarchy
Features
Consumptionpreference
Dives
Highconsumption,lotsofproperty,millionaire
Noblelife,likeBritisharistocraticwayoflife
Middleclass
Certainconsumption,stablework,havehouses
Moderateprice,highcostperformance
Civilian
Lowconsumption,focusonbasiclifesubsistence
lowprice,cheap
Pauper
Noconsumption,foodandclothingarehardtosolve
loveultralow-cost,doesn'tcareaboutthequality
3.2Thetargetmarketselection
ThroughaseriesofmarketingenvironmentanalysisandtheanalysisofIKEAenterpriseitself,wedecidedchooseIndianmiddleclassasIKEA'stargetcustomers.Ontheonehand,inthefurnituremarketofIndia,themiddleclassisthemaindemand,andinrecentyears,India'smiddleclasspopulationisgrowinglargerandlarger,whichshowtheconsumptioninthefutureispromising.Ontheotherhand,theIndianmiddleclassismorewillingtoacceptforeignproducts,theyhavedemandoffashion.
3.3productpositioning
AccordingtotheIndianmiddleclassconsumptionpreferenceandcost-effectivefeaturesofIKEAitself,wepositionIKEA’sfurnitureas"loveforfamily",showingwithabunchoftheIKEAfurniture,thehomewillbecomemorewarmandsweet.
4.Themarketingstrategy
4.1productstrategy
Accordingtothepositing"loveforfamily",weusefurnitureportfoliostrategytohelpconsumersdemonstratetheirhome,makingitmorewarmandsweet.MeanwhilefurnitureDIYisouranotherproductstrategy.Consumersdesigntheirownfurnitureaccordingtotheirownpursingoffashion、understandingofloveandwewilldoafavorduringtheirdesigningworkiftheyneed.Webelievethestrategycannotonlygreatlyattracttheinterestofconsumers,butalsocanimprovecustomersatisfaction.
4.2pricingstrategy
Inordertograbmarketandincreasemarketsharequickly,wesetpenetratingpricingasourmainpricingstrategy.Inspecificswecanmakeuseofconsumervariouspsychologyofshopping,takethemantissapricingandattractingpricing.AtthesametimeDifferentialpricingstrategywouldbeauxiliarypricing
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