MARKETING Essay Example | Topics and Well Written Essays - 1750 words

MARKETING - Essay Example e study has been considered the IKEA, which has a very good reputation among its competitors due to its unique marketing techniques, which differentiates it from the other companies in the market. In this regard, background information of the IKEA has been discussed, which will allow to consider the company as a customer-oriented company or vice versa. The different operations of the IKEA have been analyzed with relation to it growth in home-furnishing sector of the market. In order to compare its operations and activities, different competitors of the IKEA have been examined and analyzed during the paper. Findings and analysis part has been considered to identify the IKEA’s operations, if they have fallen according to the criteria of the customer-oriented companies. In the marketplace, the strategic position of a product is described by the utilization of four Ps, which is referred as the marketing mix. Although some additional Ps has been integrated by some marketers, but the four Ps are the standardized and typical constituents of the marketing mix, which are promotion, place, price, and the product. (Coe, pp. 23-25) When a specific volume of units is considered for the mass production of an object or a service on a large scale, it is referred as a product. The hotel industry is one of the typical examples of the abovementioned description of the product. Moreover, motorcar, computer operating systems, etc. are some of the uncommon examples of a mass produced service. When a product is produced, the producer requires the payback of expenses that are borne by him/her. In other words, a customer has to pay for the product and the amount is referred as its price. Competition, material costs, market share, and perceived value are some of the factors that determine the price of a product. It is very important that a business organization should select a place that may be effective for product purchases by the customers. In other words, place is another very