Marketing plan Essay Example | Topics and Well Written Essays - 4500 words - 2

Marketing plan - Essay Example prehensive understanding of the wider market periphery surrounding the business environment of IKEA, the present market position of the company is recognized. The discussion also entails an assessment of the potential competitors of the company whom it has to override in order to place its product as a unique entity in the market. The plan further illustrates the mode of promotion and distribution that the company would implement in order to ensure high performance from the product. At the outset of the planning stage, a crucial factor which can be recognized is that the strong brand name of the company would certainly help it to establish its one of the invaluable offerings i.e. coffee tables in the market. Contextually, an action program with regard to the marketing plan has been substantiated in the paper which would enable to guide the various activities of the entire process. The present day market scenario is changing rapidly on a global basis. It has been noticed that the preferences and the choices of the customers have also been altering simultaneously. There are many companies which offer similar kinds of product. For this reason, the companies now-a-days are quite concerned about making their products or services distinct from their competitors. In this regard, the concept of marketing has become quite crucial. It is the process through which the value of the product would be communicated to the customers. In other words, it can also be regarded as the art of selling goods. In context of today’s business scenario, it is not enough for companies, just to make a good or better quality product. They should also market the product effectively and communicate the quality or the benefits of the products or the services to the customers. There are various aspects of marketing that companies need to follow. The company should understand that custome rs will only prefer a product that is widely available in the market at a cheaper cost. A product or service