Marketing plan

975 views

Published on

Part of the brand analysis project undertaken during my Marketing Certificate course at UCLA Extension.

0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
975
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
0
Comments
0
Likes
4
Embeds 0
No embeds

No notes for slide

Marketing plan

  1. 1. MARKETING PLANBy Kripa Pattabiraman
  2. 2. IKEA IN INDIA
  3. 3. Why India?SectorSectorTargetMarketTargetMarketMarketPotentialMarketPotentialFurniture market is worth $8 billion. So far, it’sunorganized with no national playersFurniture market is worth $8 billion. So far, it’sunorganized with no national playersMiddle class households – Ikea’s ideal target market-Booming: 31.4 million today, 53.3 million by 2016,113.8 million by 2026 (NCAER report)Middle class households – Ikea’s ideal target market-Booming: 31.4 million today, 53.3 million by 2016,113.8 million by 2026 (NCAER report)- Consumer spending to go up from $977 billion to$3.6 trillion by 2020- Average household disposable income: to go from$2169 today to $6037 by 2025- Consumer spending to go up from $977 billion to$3.6 trillion by 2020- Average household disposable income: to go from$2169 today to $6037 by 2025AttitudeAttitude Indian consumers love foreign brandsIndian consumers love foreign brands
  4. 4. CONSUMERS
  5. 5. Segments & PersonasThe Autodidact• 25 – 32 years old• Middle class, modest upbringing• Independent, self-reliant, social• Problem-solver, constant learner• Love spontaneity as well asplanning• On the constant lookout for newexperiences and activities• Jack of all trades• Seek value for money• Phoebe, Monica, JamesFranco, Joseph Gordon-LevittThe Upper-class Experimenter• 30 – 45 years old• Rich, posh upbringing• Proud, successful, considerthemselves different from others• Like doing things that set themapart• Go on weekend getaways andinternational holidays• Spend generously it if means it isunique and will add to theirpersonality and character• Ross, Rachel, George Clooney,Anne Hathaway
  6. 6. COMPETITION
  7. 7. Organized & UnorganizedHomeTown• Belongs to Future Group – astrong conglomerate with apresence in multiple FMCGsectors.• They know their markets betterand have more power over theirdistribution channels.Local Carpenters• Popular with the locals as theycustomize furniture as per thecustomer’s taste and preferences.• They also come to the customer’shouse and work on-site, thusreducing the hassle of visitingmultiple stores, buy what theywant, and then wait endlessly forit to be delivered.
  8. 8. P.E.S.T. ANALYSIS
  9. 9. Political Factors- Ruling and opposition political parties have different stands on FDI- If opposition comes to power, it might disallow FDI citing job lossfor local businesses, especially carpenters- Ruling and opposition political parties have different stands on FDI- If opposition comes to power, it might disallow FDI citing job lossfor local businesses, especially carpentersSocial Impact Innovation: Hire-A-Carpenter-Carpenters get full-time jobs and a steady source of income-Ikea gets employees with relevant skills sets-Ikea also eliminates local competition popular with consumersSocial Impact Innovation: Hire-A-Carpenter-Carpenters get full-time jobs and a steady source of income-Ikea gets employees with relevant skills sets-Ikea also eliminates local competition popular with consumers
  10. 10. Economic Factors- High taxes, inflation and slow economy reduce disposable income- Indians consumers price sensitive and seek value for money- High taxes, inflation and slow economy reduce disposable income- Indians consumers price sensitive and seek value for moneyEmotion and Product Identity innovation: Ikea Live Design-Customers provide dimensions of living space, furniture specificationsand budget, come to the store on the day of their appointment-Ikea builds a mock-up of their living space in front of their eyes-Consumers feel special, know for sure what they’re getting-Service can be offered with deep discounts and bundling to add toconsumer’s value for money perceptionEmotion and Product Identity innovation: Ikea Live Design-Customers provide dimensions of living space, furniture specificationsand budget, come to the store on the day of their appointment-Ikea builds a mock-up of their living space in front of their eyes-Consumers feel special, know for sure what they’re getting-Service can be offered with deep discounts and bundling to add toconsumer’s value for money perception
  11. 11. Social Factors- Sizes of homes make it difficult for people to visualize and buy morethan one piece of furniture- Buying any type of furniture without knowing if it fits is acumbersome commitment- Sizes of homes make it difficult for people to visualize and buy morethan one piece of furniture- Buying any type of furniture without knowing if it fits is acumbersome commitmentAesthetics & Ergonomics innovation: Ikea Flat Displays-Tie-up with builders, furnish sample flats-Offer discounts if customers buy a flat on that propertyAesthetics & Ergonomics innovation: Ikea Flat Displays-Tie-up with builders, furnish sample flats-Offer discounts if customers buy a flat on that property
  12. 12. Technological Factors- Bad infrastructure makes traveling a nightmare- Coupled with the fact that the number of internet users is on therise, it is safe to say that online shopping is only going to increase- Bad infrastructure makes traveling a nightmare- Coupled with the fact that the number of internet users is on therise, it is safe to say that online shopping is only going to increaseEmotion and Product Identity innovation: Ikea Live Design-Same process as before-Offer online 3-D modeling as an alternative to live mock-up-Once design is finalized, offer free delivery and installationEmotion and Product Identity innovation: Ikea Live Design-Same process as before-Offer online 3-D modeling as an alternative to live mock-up-Once design is finalized, offer free delivery and installation
  13. 13. MARKETING MIX
  14. 14. ProductThe usual rangeof furnitureThe usual rangeof furnitureIkea Live DesignIkea Live DesignN/AN/AUpper class: Exclusive, by appointmentUpper class: Exclusive, by appointmentLower class: Not a target segment for nowLower class: Not a target segment for nowMiddle class: Mass, self-serviceMiddle class: Mass, self-service
  15. 15. PlaceOnline storeOnline storeOffline storesOffline stores- A store in every key city at a central location- Options: Buy and carry, or buy and get itdelivered- A store in every key city at a central location- Options: Buy and carry, or buy and get itdelivered- Online shopping- Options: Buy and get it delivered, buy andpick up, or order and pay cash on delivery- Online shopping- Options: Buy and get it delivered, buy andpick up, or order and pay cash on deliveryOthersOthers- Ikea Flat Displays: Sales representative atunder-construction properties to go withthe sample flat furniture- Options: Buy and get it delivered- Ikea Flat Displays: Sales representative atunder-construction properties to go withthe sample flat furniture- Options: Buy and get it delivered
  16. 16. PriceThe usual rangeof furnitureThe usual rangeof furnitureIkea Live DesignIkea Live Design- High-end, will vary according to square feet- Will have to pay a booking/appointment fee- Bundling discounts exclusive to this service- High-end, will vary according to square feet- Will have to pay a booking/appointment fee- Bundling discounts exclusive to this service- Will match international pricing- Once local production and sourcing begins,prices will be reduced- Will match international pricing- Once local production and sourcing begins,prices will be reduced
  17. 17. Promotion- Extend existing loyalty program- Extend existing loyalty program- Send out seasonal catalog like in othermarkets- Include special early bird discounts- Send out seasonal catalog like in othermarkets- Include special early bird discounts
  18. 18. - Festive season sales- Festive season sales- Offer monthly discounts like inother markets- Include exclusive previews tonew season range only forsubscribers- Offer monthly discounts like inother markets- Include exclusive previews tonew season range only forsubscribers
  19. 19. MARKETING COMMUNICATION
  20. 20. SpokespersonIMRAN KHAN: ACTORYoung | Modern | Cool | Fresh | DifferentIMRAN KHAN: ACTORYoung | Modern | Cool | Fresh | Different
  21. 21. Mock TVCTelevision commercial aired in two parts. It will feature Imran, his wife, and afew cast members from Imran’s film, Delhi Belly (was a major hit).Part 2:ConclusionPart 2:ConclusionPart 1:TeaserPart 1:Teaser- Imran and Avantika at their new house.- Avantika wants to meet her designer there thenext morning to plan the interiors.- Imran backs out saying, he is shooting all night.- Imran and his friends go to Ikea.- Imran and Avantika at their new house.- Avantika wants to meet her designer there thenext morning to plan the interiors.- Imran backs out saying, he is shooting all night.- Imran and his friends go to Ikea.- Imran and his friends get furniture from Ikeaand take it to his new house.- They unpack, furnish the house, and get donelate at night.- Avantika arrives in the morning and is taken bysurprise.- Imran and his friends get furniture from Ikeaand take it to his new house.- They unpack, furnish the house, and get donelate at night.- Avantika arrives in the morning and is taken bysurprise.
  22. 22. SourcesImages•Ikea Logo: http://www.heart.co.uk/solent/win/ikea-bedroom-vouchers•Indian flag:http://www.thasariya.com/indian-flag-hd-wallpaper-images-pictures-photos-color-animatio•4 Ps: http://magneticmarketingsolutions.com/wp-content/uploads/2009/09/4ps.jpg•Ikea Family: http://www.ikea.com/ms/en_US/img/local_store_info/portland/familygirl_250x250.jpg•Ikea catalogue: http://i-cdn.apartmenttherapy.com/uimages/chicago/cover080109.jpg
  23. 23. 6. Monthly discounts:http://www.ikea.com/ms/en_AA/about_ikea/rent/index.html7. Sale: http://www.everlastinghardwoods.com/images/C/sale-items.jpg8. Imran Khan: http://www.imdb.com/name/nm1405359/?ref_=sr_19. Imran suit: http://www.mensxp.com/2012/x51/profile/34-Imran__Khan.html10. TV: http://olimex.files.wordpress.com/2012/05/watch-live-tv-online.png11. Consumers: http://money.usnews.com/money/business-economy/slideshows/17-ways-consumers-are-changing12. Competition: http://anniejenningspr.com/jenningswire/wp-content/uploads/2012/10/bigstock-Competition-concept-5232812.jpg13. PEST: http://www.translation-project-management.com/translation-project-management/project-analysis
  24. 24. ThankYou.

×