The IKEA Group Market Plan

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Description

The IKEA Group Market Plan

The IKEA Group Market Plan

ANSWER


The IKEA Group has been enjoying excellence and market leadership in the furniture industry. Interesting in the year 2002, it was named the top furniture retailer in the world. Despite this superfluous performance over the past fear years, it has been faced staunch market hardships in the recent past. This plan will basically address the key problems which prevailed in the previous years and more specifically the drastic declines in sales. Importantly, in the year 2008-2009 drastic declines in performance were witnessed. This phenomenon is believed to have been caused by the effects of the recent ended recession and the increasing competition in the furniture industry. Following this crisis, IKEA Group has hired DDS Consultants to develop a market plan. Based on the market analysis and evaluation, and in consideration with the company objectives, the following conclusions were drawn: IKEA group should pay much attention on marketing mix so as to so as to boosts its declining performance.