discussion 2 Mark
.docx
keyboard_arrow_up
School
University of Texas, Rio Grande Valley *
*We aren’t endorsed by this school
Course
6310
Subject
Marketing
Date
May 8, 2024
Type
docx
Pages
2
Uploaded by daisy.galindo01 on coursehero.com
1.
Based on the information provided in the case study, discuss in detail how the different micro and macro environmental factors affect IKEA’s expansion in the US market (see chapter 4 ppt slides for all micro/macro factors). Discuss as many micro
and macro environmental factors as you can, not just one or two.
The different micro, and macro environmental factors affect the IKEA’s expansion in
the United States are as explained:
Microenviromental: Company- IKEA is a large home décor and retail market, whose brand recognition is highly important for the growth strategy. The company’s marketing strategies, financial strength and, marketing abilities will have an impact on the performance in the Unites States market
Suppliers: IKEA initially gets their raw materials from different suppliers around the world. These distributions could also have an impact on the company’s operations in the United States market. Marketing Intermediaries: Due to IKEA working with different marketing intermediates, such as logistical providers, public relation business, and agencies for
ads. With this there will be a positive impact on the company’s marketing initiatives and the company’s distribution performance.
Customers: The expansion of IKEA in the United Sates would be due to the product demand. The company is to understand and obtain information of the demands of the American Customers.
Competitors: As for competitors IKEA is currently up against all other retail home décor stores in the united states; new and older companies. In order to remain in the position to be competed against IKEA should consider pricing, marketing activities of other competition, and product offerings.
Publics: The public image of IKEA is very crucial, they do a great job in maintaining a
socially conscious public perception on their company. IKEA’s social responsibility, ethical, and environmental activities can impact the success in the United States. Ikea prioritizes their reputation as it their public image is an important factor for the expansion strategy.
Macroenvironment: Demographic plays an important role in Ikea’s expansion strategy. Such as the location of the IKEA store would determinate what products that certain demographic would want, high income households will be looking for high end furniture and low income household will be looking for affordable furniture.
Natural resources those of which include climate change and environmental restrictions could all have effect on the company’s expansion on in the United States.
Using sustainable products could attract customers that are environmentally concerned and increase sales.
Technological: Technology such as social media that plays a large role in social networking. Mobile apps are taking over the convenience of customers and how customers shop. IKEA should capitalize on technology to stay in competition with other companies
Political considerations are highly important as not all rules and regulations are the same in every country. This of which could have a positive or negative impact on IKEA’s expansion strategy. The company must successfully follow all rules to prevent any issues.
Cultural elements due to the United States being a mix of different cultures it is important for IKEA to accommodate to the societal beliefs, and attitudes as this could easily affect the expansion strategy. The company should accommodate pricings, and marketing techniques.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Comparing Palmolive and Dove, as soap manufacturing companies, what are the external influencing factors?
Why does the market move this way, in this context with the external factors?
arrow_forward
Based on the information provided in the case study, discuss in detail how the different micro and macro environmental factors affect IKEA’s expansion in the US market (See Chapter 4 Ppt presentation slides for all micro/macro factors). Discuss as many micro and macro environmental factors as you can, not just one or two.
arrow_forward
Analyze the industry Nike competes in using Porter's 5-Forces framework.
Clearly define the industry that Nike operates in.
Identify whether the force is high, moderate, or low for each force. Explain your rationale for each force.
Using the conclusions of each force, suggest whether the industry is attractive (i.e., profitable) or not. Explain your rationale.
arrow_forward
Name and discuss which part of the (two) 'environments' discussed in the
course these belong to. Some may belong to more than one. What might
be the marketing implication of these trends for a business? Choose any
two of the four scenarios provided and give a specific example.
Noticeable increase in pet ownership during the last two years of
COVID in Australia and many countries
War in Eastern Europe has diminished world wheat crop yields,
leading to price increases
4
Government splashing cash and tax cuts in the lead up to an election
Telstra buys 51% of Fetch TV (an aggregator subscription video
service)
arrow_forward
Essay about what can you recommend manufacturing ideas/products that are profitable during this pandemic crisis Covid 19 and why?
arrow_forward
i. Businesses are influenced by various forces that exist within the external business environment. Given knowledge of the Remote External environment, conduct a detailed PESTLE analysis of a named Ghanaian company; clearly identifying its Opportunities and threats. For each segment, demonstrate how you scanned, monitored, forecasted and assessed that segment towards identifying the opportunities and threats exposed to your identified organization.
ii. With reference to the COVID-19 pandemic, describe how the strategic position (SWOT) of the named company in (i) above has been affected.
iii. Describe any two (2) innovative strategies that the company would employ to appropriately respond to the repercussions of the pandemic.
arrow_forward
I. Write ME if the following statement describe macro environment and me if it is micro environment.
1. External to and beyond the control of the company
2. The larger societal forces that affect the whole micro environment
3. Internal situations that directly affect the organization
4. Components: company itself, marketing channel firms.
5. Closely interrelated with each other and are dynamic
6. May directly and indirectly affect the firm
7. Characterized by basic variables that contribute to business survival, profitability, and success
8. Demographic, economic, natural, technological, political, and cultural forces
arrow_forward
Solutions built on the Internet of Things may benefit both vertical and horizontal sectors. When these methods are applicable across different sectors, we have successfully implemented an industry-wide strategy. It's a win-win for humanity and the Internet of Things.Check out the illustrations provided. Choose two and classify them as horizontal or vertical market approaches. Justify.Climate control that adapts to the room's occupancy and outside temperatureMicrochips like this can be swallowed and then send signals to a doctor.
arrow_forward
when considering the business environment, briefy define and outline the importance the following:
Relevance to Market Trends:
Competitive Analysis:
Regulatory Compliance:
Economic Factors:
Cultural Sensitivity:
arrow_forward
The business environment poses threats as well as offers immense opportunities for potential market exploitation. As an Entrepreneur and a Manager of Ohene Nana Pharmacy Ltd at Agogo, state and discuss five (5) micro-environmental factors (internal environmental forces) that may negatively affect the fortunes of the business and how those environmental forces could be managed.
arrow_forward
List 3 three PESTLE elements for the sport of Waka Ama in New Zealand. How have these elements influenced/impacted the sport? These are in the broader marco environmental, out of the company's control. How will Waka Ama deal in the future?
I am struggling to come up with three elements of the PESTLE analysis (political, economic, social/cutural, technology, and legal) that has influenced Waka Ama.
Link about the company: https://sportnz.org.nz/resources/growth-of-waka-ama/
arrow_forward
Discuss this statement: “Business competition encourages improved product quality and increased customer satisfaction.”
arrow_forward
How does the lack of knowledge about sustainability prevent companies from transitionning to th ecircular economy ?
arrow_forward
Forces Affecting Business in Today's
Dynamic Environment
The business environment consists of several factors that
affect a business's ability to be successful and operate
profitably.
Creating the right business environment is the foundation
for social benefits of all kinds. Businesses operate in a
dynamic environment that consists of economic,
technological, competitive, social, and global factors.
Businesses normally can't control their environment or the
changes that occur, but they need to monitor it carefully
and do what they can to adapt to the changes.
Read the descriptions of each company, then match it with
the appropriate environmental force.
1
Global
Social
3
Technological
4
Economic and legal
5
Competitive
arrow_forward
Describe for Local and Global perspective Apple Inc and details
arrow_forward
Investigate Samsung Pay, which applications of FinTech / innovation in business or society. Identify the business problem, describe how innovation helped solve the problem, what technologies were involved, how the innovation affected the stakeholders in the market, the future outlook, and make suggestions.
arrow_forward
Company name: Carrefour (https://www.carrefour.com/)
Write about Carrefour Company’s :
1) Global market
2) Economy Environment
3) Political and Legal Environment
4) Cultural Environment
arrow_forward
Q0 Micro and Macro Environmental forces create opportunities as well as threats for business and commercial organizations. Elaborate this statement.
arrow_forward
List all the factors and changes that contributed to the decline in Kodak commercial success, categorize those factors into the main marketing environment components of: the internal environment, the micro-environment, and the macro-environment, and rank the factors in terms of which ones were the most significant in the downfall of Kodak .
arrow_forward
Suggest an approach through which strategists could narrow down the range of environmental factors they have to focus upon.
Explain Briefly
arrow_forward
Discuss the concept of using ethics as a competitive advantage. Address the following:
In what way did Pepsico use ethics as a driver for competitive advantage?
Include the three ethics policy components that were applied across the company’s value chain as a culture of ethics allows all employees to focus their efforts on the ethical pursuit of corporate objectives without ambiguity.
arrow_forward
We can't downplay the benefits of defining and monitoring our marketing environment. Still, there is only so much we can accurately predict. Even with technological advancements, predictive software tools, and a keen eye on the marketing environment, some changes can't be forecasted or controlled. Techniques that work in one marketing environment may not work in the next. For businesses operating in multiple regions, this may prove a considerable challenge. The speed of change in the macro marketing environment may make it seem unnecessary to monitor and predict the environment. Business and marketing teams must stay nimble, accept changes quickly, and leverage their customer service and satisfaction strengths to maintain business success and a positive marketing environment. MAJASA Investment Ghana Ltd is a global brand and hopes to enter into the Ghanaian market and start its operations in this year…there is therefore the need to understand the marketplace. The financial marketing…
arrow_forward
4. Name and describe (giving current examples) four major areas of the external
environment that marketers have to be concerned and aware of. (You must
provide a thorough description.)
arrow_forward
Critically discuss the macro-environmental issues that a tobacco marketer such as Philip Morris will contend with.
To apply the Pestle MODEL.
arrow_forward
As the warehouse manager for Garden-William Logistics, your warehouse operations have been greatly impacted by the Covid-19 pandemic given that government-imposed restrictions have resulted in a closure of borders and thus limiting trade.
As a result of this, Garden-William has to consider retrenchment.
Think about how Covid-19 has impacted imports in South Africa.
Click the link above the red arrow to open the Journal tool.
Create a journal entry in which you reflect on:
How has the quantity of imports been affected?
How has a lack of economic trade impacted on the number of employees? Are employees now working on a rotational basis?
What measures will you put in place in the warehouse to ensure Covid-19 health compliance?
Have these measures made the management of the warehouse more complex? Why/why not?
arrow_forward
Describe Patagonia's business model. Does this business model have a virtuous cycle? How
important is Patagonia's environmental position to the business model?
arrow_forward
The Body Shop
The Body Shop may have grown rapidly in its early days, but its founder, the late Anita Roddick publicly dismissed marketing’s role. Roddick ridiculed marketers for putting the interests of shareholders before the needs of society. She had a similarly low opinion of the financial community, which she referred to as ‘Merchant Wankers’. While things were going well, nobody seemed to mind. Maybe Roddick had found a new way of doing business, and if she had the results to prove it, who needed marketers? But how could even such an icon as Anita Roddick manage indefinitely without consulting the fundamental principles of marketing? By embracing ethical issues, she thought she was way ahead of her rivals in understanding the public mood, long before the major retailers piled into Fairtrade and ‘green’ products? The troubles that the Body Shop suffer in this century indicate that a company may publicly dismiss the value of marketing while the going is good. Still, sooner or…
arrow_forward
Critical Thinking What role has technology played in
the globalization of businesses? Has technology lev-
eled the economic playing field, or has it merely in-
creased the distance between the "haves" and the
"have-nots"? Give at least one example of each and
explain your position.
arrow_forward
Understanding of environment by business managers enables them not only to identify and evaluate but also to react to the forces external to their firm. In light of the statement, explain by giving any five points why in the present-day competitive market, it is essential for a business enterprise to remain alert and aware of its environment.
Asap
arrow_forward
How has the McDonald’s concept changed since the 1960s? What environmental forces were behind these changes? How will the McDonald’s concept change in the next decade, given the new forces operating in the environment?
arrow_forward
1. Explain how changed in the economic environments affect marketing decisions.
2. Describe the stages of the product life cycle (PLC) and how marketing strategies change during PLC.
3. In your own words, explain this premise of PLC: ‘all products have a limited lifespan until a better solution to the customer’s problems comes along’.
4. Think of an existing product in the market and evaluate it based on the five forces model of industry competition.
arrow_forward
What defines a good corporate culture ? Describe the link (3 perspectives) between corporate culture and improved economic performance?
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Related Questions
- Comparing Palmolive and Dove, as soap manufacturing companies, what are the external influencing factors? Why does the market move this way, in this context with the external factors?arrow_forwardBased on the information provided in the case study, discuss in detail how the different micro and macro environmental factors affect IKEA’s expansion in the US market (See Chapter 4 Ppt presentation slides for all micro/macro factors). Discuss as many micro and macro environmental factors as you can, not just one or two.arrow_forwardAnalyze the industry Nike competes in using Porter's 5-Forces framework. Clearly define the industry that Nike operates in. Identify whether the force is high, moderate, or low for each force. Explain your rationale for each force. Using the conclusions of each force, suggest whether the industry is attractive (i.e., profitable) or not. Explain your rationale.arrow_forward
- Name and discuss which part of the (two) 'environments' discussed in the course these belong to. Some may belong to more than one. What might be the marketing implication of these trends for a business? Choose any two of the four scenarios provided and give a specific example. Noticeable increase in pet ownership during the last two years of COVID in Australia and many countries War in Eastern Europe has diminished world wheat crop yields, leading to price increases 4 Government splashing cash and tax cuts in the lead up to an election Telstra buys 51% of Fetch TV (an aggregator subscription video service)arrow_forwardEssay about what can you recommend manufacturing ideas/products that are profitable during this pandemic crisis Covid 19 and why?arrow_forwardi. Businesses are influenced by various forces that exist within the external business environment. Given knowledge of the Remote External environment, conduct a detailed PESTLE analysis of a named Ghanaian company; clearly identifying its Opportunities and threats. For each segment, demonstrate how you scanned, monitored, forecasted and assessed that segment towards identifying the opportunities and threats exposed to your identified organization. ii. With reference to the COVID-19 pandemic, describe how the strategic position (SWOT) of the named company in (i) above has been affected. iii. Describe any two (2) innovative strategies that the company would employ to appropriately respond to the repercussions of the pandemic.arrow_forward
- I. Write ME if the following statement describe macro environment and me if it is micro environment. 1. External to and beyond the control of the company 2. The larger societal forces that affect the whole micro environment 3. Internal situations that directly affect the organization 4. Components: company itself, marketing channel firms. 5. Closely interrelated with each other and are dynamic 6. May directly and indirectly affect the firm 7. Characterized by basic variables that contribute to business survival, profitability, and success 8. Demographic, economic, natural, technological, political, and cultural forcesarrow_forwardSolutions built on the Internet of Things may benefit both vertical and horizontal sectors. When these methods are applicable across different sectors, we have successfully implemented an industry-wide strategy. It's a win-win for humanity and the Internet of Things.Check out the illustrations provided. Choose two and classify them as horizontal or vertical market approaches. Justify.Climate control that adapts to the room's occupancy and outside temperatureMicrochips like this can be swallowed and then send signals to a doctor.arrow_forwardwhen considering the business environment, briefy define and outline the importance the following: Relevance to Market Trends: Competitive Analysis: Regulatory Compliance: Economic Factors: Cultural Sensitivity:arrow_forward
- The business environment poses threats as well as offers immense opportunities for potential market exploitation. As an Entrepreneur and a Manager of Ohene Nana Pharmacy Ltd at Agogo, state and discuss five (5) micro-environmental factors (internal environmental forces) that may negatively affect the fortunes of the business and how those environmental forces could be managed.arrow_forwardList 3 three PESTLE elements for the sport of Waka Ama in New Zealand. How have these elements influenced/impacted the sport? These are in the broader marco environmental, out of the company's control. How will Waka Ama deal in the future? I am struggling to come up with three elements of the PESTLE analysis (political, economic, social/cutural, technology, and legal) that has influenced Waka Ama. Link about the company: https://sportnz.org.nz/resources/growth-of-waka-ama/arrow_forwardDiscuss this statement: “Business competition encourages improved product quality and increased customer satisfaction.”arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning