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Essay / Research Paper Abstract
Ikea have had some difficulties in the Chinese market. This 3 page paper looks at what the problem is, develops some marketing objectives, identified the target market and then uses the 4 P’s model to make some marketing strategy recommendations. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEikeach.rtf
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Unformatted sample text from the term paper:
and goods appeared to be popular in China when the company first opened there, but the problem was that customers did not buy form them, instead they look around the
stores without buying and would the go to cheaper outlets and buy knock off copies of the goods (Fong, 2006). Therefore, to consider the way in which Ikea may increase
sales there needs to be consideration of the marketing strategy as a whole. The company has adjusted it strategy and lowered process as well as introduced ice cream cones to
entice visitors in (Fong, 2006). This is a good start, but an understanding of the passion needs to be appreciated to create a long term marketing strategy. 1.1 Marketing Objectives
There need to be several marketing objectives. The problem appears to be that the visitors to the store are not potential customers, they are looking around. The first objective will
be to increase the conversion rate of sales to visitors, so that more goods are sold to the existing visitors to the store. There may also be an issue
concerning which groups of customers are being attracted into the store, this may not be the same as the target market, as such the company may also look at increasing
the number of the potential target market visitors that they can get to visit the store. 1.2 Target Market To consider which visitors would be best attracted when increasing the
visitor numbers the company need to consider who the target market is (Kotler, 2003) In Europe Ikea have a youngish image with contemporary functional designs, appealing to a broad range
of customers. It appears that there have been some adaptations to the Chinese market, such as the use of local suppliers and changes to designs, however, the target market remain
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