Business Management

Running head: MARKETING COMMUNICATION AND BRAND STRATEGY 0

Marketing Communication and Brand Strategy

Victor J. Ayala

University of Phoenix

MKT/571

Patricia Estabrooks

June 5, 2017

Situational analysis

Introduction and objectives

The company intends to brand Ikea products to resonate with the expectation of the consumers. In the first step, the organization has to communicate its vision, which is excelling as a leader in the delivery of excellent products. Afterward, the team surcharged with branding the product will outline the objectives and values treasured in propelling the venture to greater heights of excellence.

Analysis

An exploration of the markets suggests that the demand for technological gadgets is on the rise. Ikea, therefore, has a greater reputation when it comes to addressing the needs of the consumer. The process can commence with evaluating the product using a SWOT analysis. The market comprises of competitors capable of producing similar technologies at a lower cost. The taxation by governments among other policies affects trading. Those demanding exemplary products outnumber those needing traditional merchandise.

The trend is the use of digital media is guiding communication in the markets. The creation of elaborate distribution channels is a complex process. Additional dynamics is that the number of younger shoppers is on the rise with the demand for sophisticated merchandises exceeding the need for traditional brands. Another dynamics is that incomes and age affect decision-making. Lastly, the use of technology in improving product quality is critical in accomplishing success in the markets.

Products

SWOT analysis

The adoption of a SWOT analysis indicates that the brand has a long tradition of guaranteeing satisfaction. Therefore, in making the decision to brand, the team must communicate to consumers the positive history of the brand. They should adopt techniques that resonate with the expectation of consumers such as the use of simple and definite language. According to Pickton & Broderick (2001), the opportunities available in making the decision are that the global demand for technological products is on the rise. The use of technology also creates an opportunity to reach wider audiences. Hence, Ikea can capitalize on the opportunity in reaching consumers. The company can also leverage on its expertise in marketing

The challenges to the process of branding are that the company faces competition from other reputable brands. The penetration of new markets comprising of conservative consumers is also a daunting task considering that other players have tried exploiting the strategies. The weakness of the company is that it undertakes most of its duties in-house yet there are immense opportunities in outsourcing some of the operations. The marketing team also confronts the challenges of adopting a global strategy at the expense of maintaining the local identity of the brand.

Branding

The step in the creation of a reputable image entails communicating about the unique features of the product. According to the plan, the marketing team will adopt language resonating with many audiences. They will exploit simpler terms that notify new and existing clienteles more about the commodity (Madhavaram, Badrinarayanan & McDonald, 2005). The conveyance of the message about the advantages of purchasing the brand via social media is equally critical in creating a lasting image. The approach for accomplishing such can entail communicating about the durability of Ikea products. The branding strategies for exploitation have to associate the product with revered celebrities or icons in campaigns.

The process of retaining brand image involves the provision of services to repeat clientele while formulating strategies that ensure continuity in communication with the persons. The production team must ensure continuity in innovation to differentiate the products from other commodities in the markets. The distribution of the brand using reputable suppliers is also a strategy for maintaining a positive image among consumers.

Promotion

The concern in branding is ensuring that loyal customers acknowledge the brand. According to Madhavaram, Badrinarayanan, & McDonald (2005), companies must not engage in actions that completely change the perception of existing customers. Instead, the models for adaptation should attract new shoppers while maintaining the traditional image. The messages must be precise since any slight miscommunication can alter the perception of the audiences towards the brand.

Strategy of placing

The approach to branding should create a sensation online that lures new shoppers to develop an interest in Ikea products. The company can exploit the social media platform as the launch pad for the new products manufactured by the company. The management must exploit pricing tools cautiously since the approach for adaptation has profound effects on the decision that consumers make. For that reason, the organization has to exploit price differentiation strategies that assure consumers value for their money.

The organization has the responsibility of creating a feedback channel that facilitates continuous communication with the consumers. As noted, the platform can prove integral in the identification of the changing needs of the clientele (Pickton & Broderick, 2001). The platform also helps in the quantification of the perception of consumers about the brand.

Advertising

The management can measure loyalty to the brand using records of sales calculated on a quarterly basis. During the process, the organization must consider the variation in market dynamics that can affects sales but are unrelated to perception. An example is a change in government policy on taxation for electronic products. The sales teams should also measure loyalty from the feedbacks presented on the company’s sites by consumers.

The measurements of retention have to rely on the sale records together with the feedback as the case of loyalty. The team steering campaigns can conduct outreach campaigns then use the data collected in the quantification of the perception of people. Afterward, the findings should serve as the value of retention.

References

Madhavaram, S., Badrinarayanan, V., & McDonald, R. E. (2005). Integrated marketing communication (IMC) and brand identity as critical components of brand equity strategy: A conceptual framework and research propositions. Journal of Advertising, 34(4), 69-80.

Pickton, D., & Broderick, A. (2001). Integrated marketing communications. Harlow: Prentice Hall.