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

The Expanded Marketing Mix: IKEA

Introduction

At any successful company, merchandising seeks to connect with customers, serve their needs, and accomplish the stated mission of the organization. A successful trade process creates value through consumer gratification from brand building before the sale to post-sales service and go (Kotler et al, 2001). The marketing strategy process has four primary segments: harvest-tide, monetary value placement, promotion and people (Kotler et al, 2001). Companies with a service element to their production line often highlight three additional areas: people, processes and physical evidence. In addition to outlining the seven Ps, this report focuses on the unique product and service marketing approach used by Netherlands-based furniture retailer and franchisor Inter IKEA Systems B.V.

The Expanded Marketing Mix

According to McDonald and Dunbar (1998), the marketing flick is the term used to describe the tools and techniques an organization uses to implement the marketing concept. Kotler et al (2001) recognize 4 Ps that encompass an organizations wide competitive marketing strategy: product, price, promotion, and place. However, McCarthy (1987) prefers a more explicit explanation of the marketing mix, suggesting that the mix is a set of manageable variables which the organization puts to puffher to satisfy a target group.



A representative marketing mix involves a product provided at a price, combined with some level of promotion to pull back potential customers, along with a way (a place) to collaborate those customers (McCarthy, 1987). In service marketing, 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 exercise 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. every last(predicate) 7 attributes are described below.

Defining the 7 Ps

Kotler defines...

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