The Expanded Marketing Mix: IKEA - highlights the 4Ps and expanded 7Ps marketing mix

The Expanded Marketing Mix: IKEA Introduction At some(prenominal) successful company, merchandising seeks to connect with customers, serve their needs, and accomplish the express mission of the organization. A successful trade process creates comfort through consumer gratification from brand building before the bargain to post-sales service and go (Kotler et al, 2001). The market strategy process has 4 primary segments: harvest-tide, monetary value placement, promotion and people (Kotler et al, 2001). Companies with a service element to their mathematical product line often sidle up three additional areas: people, processes and physical evidence. In addition to outlining the septet Ps, this report focuses on the unique product and service trade approach used by Netherlands-based furniture retailer and franchisor repose IKEA Systems B.V. The Expanded Marketing Mix According to McDonald and Dunbar (1998), the marketing ikon is the term used to describe the tools a nd techniques an organization uses to implement the marketing concept. Kotler et al (2001) recognize 4 Ps that encompass an organizations roomy competitive marketing strategy: product, price, promotion, and place. However, McCarthy (1987) prefers a more open explanation of the marketing mix, suggesting that the mix is a set of dirigible variables which the organization puts to puffher to satisfy a target group.

A interpretive program marketing mix involves a product provided at a price, combined with some level of promotion to pull fend for potential customers, along with a way (a place) to fall in those customers (McCarthy, 1987). In service mar! keting, McColl-Kennedy and Kiel (2003) identify three extended elements for marketers. In addition to the traditional 4 Ps, McColl-Kennedy and Kiel (2003) stress the core wreak of people in a service industry, including both employees and customers or potential customers. Additionally, the service process and physical evidence production on additional importance in service industries. all last(predicate) 7 attributes are described below. Defining the 7 Ps Kotler defines... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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