Q1. innovation at IKEA (at least 300 words)
A. why is IKEA an innovation company? Support your answer with examples.
B. discuss the role of four business functions at IKEA. Give at least two innovation examples for each business function at IKEA.
Q2. product offering and targeting (300 words at least )
A. discuss the three levels of a product by using the HAMARVIK mattress as an example.
B. discuss the four targeting strategies. Which targeting strategy does IKEA use for its mattresses. Justify your answer. (Check the mattress section on the IKEA website before answering this question.)
Q3.The marketing mix and innovation (At least 500 words).
IKEA’S marketing strategy consists of market segmentation, targeting, positioning, and the marketing mix. IKEA’s marketing strategy enables the company to be a successful player in the global marketing. using your knowledge, evaluate how innovation in IKEA’s marketing mix elements are used to position the products within the minds of consumers. Your answer should contain the following:
1. IKEA’S market segmentation and targeting
2. what is positioning. How is it related to the marketing mix?
3. examples of the IKEA’s marketing mix elements and their contribution to brand positioning