This report is the further report based on the initial report of Australian furniture retailing industry. Here, it will be mainly focus on one of the distinguished company in Australia - IKEA - operates in the furniture retailing industry. Meanwhile, it will attempt to analysis the marketing mix of two specific segmentations that be emphasized by IKEA's marketing strategy.
This report is talking about two market segmentations of IKEA and its current promotional strategy to those different target segments. In examine the two segments, this report focus on seven Ps' from the sellers' view such as product, price, placement, promotion, people, process and physical evidence.
The data mentioned in this report has been collected from some journal articles, the home website of IKEA based on the two segments, and relevant links in its website. Moreover, the secondary data such as text books and annual report of furniture retailing industry have been also used in it.
The limitations of the report were lack of experience of data collection, time constraint, and the inability to book an interview with staff work in IKEA. The difficulty of obtain the current marketing strategies has been addressed as well.
In preparing this report, it is assumed that the information gathered related to the topic is correct, and assumed that readers have the basic knowledge of marketing strategies.
2.1 Market Identification
Even as Kotler, Brown, Adam and Armstrong (2001, p 10) explains that market is a group of all actual and potential consumers of a product. The core product of furniture retailing industry is furniture and decorations. Customers buy furniture to decorate their working or living place and obtain a better environment. The market of IKEA is all the customers who need the furniture. IKEA business idea...