An Analysis Of Market Segmentation Of Ikea And Bandq Marketing Essay

An Analysis Of Market Segmentation Of Ikea And Bandq Marketing Essay In 1958, Ingvar Kamprad founded the first IKEA store in Almhult, Sweden. So far, IKEA is the largest and most international furniture emporium, globally. (IKEA, 2010 a). As the biggest competitor of IKEA, BQ is a leading company in home decoration and gardening in Europe. It was founded by Richard Block and David Quayle in Portswood, Southampton in 1969. Presently, there are above 60 stores around the world, among which, the largest one in Beijing. (BQ, 2010 a) 1.2 Theory Market segmentation is classifying consumers into groups according to their characteristics (Hall et al, 2008) and set certain groups as targets. Market segmentation consists of four types, including geographic, demographic, psychographic and behavioral type. (Hall et al, 2008). Another concept concerned with market segmentation is marketing mix. It is important in marketing strategy, with a goal of satisfying consumers needs. It is also recognized as the 4Ps, consisting of product, price, place and promotion. (Hall et al, 2008). 1.3 Aims The objective of this report is to analyze how IKEA and BQ deal with marketing mix and marketing segmentation. In addition, the emphasis of this report is how these two companies differentiate products to different targeted segments, as well as how they combine market segmentation with marketing mix to make profits. Findings Market Segmentation IKEA targets young and fashionable people as its main consumers; in particular those love modern furniture and accessories. Therefore, its products are more colorful and novel. In addition, IKE fixes the products prices at a lower level, which is quite attracting for the average consumers, such as white-collars. (IKEA, 2010 b) Different from IKEA, BQ is specialized in one stop shopping, in which, customers can buy most decorations and accessaries they want in one store. Furthermore, BQ has professional teams to help customers designing and decorating in their own styles. The aim of this service is to provide convenience for customers who do not have much time to deal with decoration. (BQ, 2010 b) 2.1.1Comparison In comparison, IKEAs targets are mainly young people who love innovative items, while BQ focuses on one stop shopping with people who have not much spare time as its major consumers. Furthermore, the IKEA products are mostly shown as models, which are fixed and limited. However, customers are able to buy raw materials from BQ and make any product. Marketing Mix 2.2.1 Product As a total concept, product refers to all merchandises and services provided by a business. Therefore, product is more than physical stuffs sold by stores (Hall et al, 2008). IKEAs major products are furniture, such as kitchen modules, bathroom facilities, lighting equipment, sofas and textiles. (IKEA, 2010 b) It has outstanding quality and a special name to every product, and offers a wide range of home furnishings with best aesthetic designs and functions at reasonable prices. (IKEA, 2010 b) BQ stores supply with around 40,000 products for home fittings, such as lights, door handles and lawnmowers. (BQ, 2010a) Its selling point is a variety of products for home decoration. Moreover, BQ has professional teams to help personalized designing. (BQ, 2010 c) 2.2.1.1 Comparison The products of Both BQ and IKEA are complementary. They provide a full range of products, as well as professional designers. However, a most significant difference between them is that, IKEA only sells finished products, whereas BQ provides raw materials as well. 2.2.2 Place There are around 330 IKEA stores in 38 countries. (IKEA, 2010d) For all of them, the products are displayed in a clear and scientific classification. Further, there are floor pained arrows to lead consumers quickly find the items they need. For example, all the products for a room are shown visually by being placed a single model room. (Guangzhou IKEA, 2010) Besides entity stores, IKEA also allows consumers to do e-shopping on its website with an easy reviewing of the details of the products. As for BQ, there are 371 stores in total, with 41 stores in China. According to statistical data, there are over three million customers walking into BQ per week. In addition, it has a website for consumers to search the details of their products. (BQ, 2010a) Moreover, BQs operating system is GMS (General Merchandise Store), thus all products in BQ are placed on shelves for consumers to choose freely. (BQ, nd) 2.2.2.1 Comparison Both of two companies sell products mainly in stores. Besides, they both open stores in areas with large population. Moreover, the two companies have websites to offer online shopping. On the other hand, one of the differences is their operating modes. The IKEA stores have scientifically classified all products so that consumers can quickly and easily find what they need. In contrast, the BQ stores are the GMS (General Merchandise Store) mode. 2.2.3 Promotion Promotion is to propagandize products through all measures available (Hall et al, 2008). The basic promotional tool of IKEA is its free catalogue with a list of its products. The IKEA Catalogue includes commodities details, such as colors, sizes and prices. (IKEA, 2010 e) It is worthy to mention that, IKEA also established a group named Social Initiative, aiming at strengthening the relationship between IKEA and the society. This group works together with UNICEF and Save the Children, with the purpose of giving all children a better life. (IKEA, 2010 f) Discount is an effective promotion BQ uses to attract consumers. Similar to IKEA, BQ also has policies to show its social responsibility. As for this, BQ makes great efforts on environment protection in the procedures of product design, packaging and the use of materials. To some extent, advocating environmental products is also a useful promotion skill of BQ. (BQ, 2010 e) 2.2.3.1 Comparison Both IKEA and BQ construct their own websites to introduce their commodities and offer consumers with e-shopping service. BQs most frequently used promotional measure is discounting, while IKEA publicizes its products by free catalogue. In order to fulfill their social duties, they both have actions in making contribution to the society. Although their promotional measures are different, they have the same purpose to create more profits. 2.2.4 Price The price is simply the amount of money that consumers pay to gain the benefits of the product (Hall et al, 2008). The prices of IKEAs products are set reasonably. It adopts innovative manufacturing techniques to products at a lower cost. Consumers choosing, assembling and transporting products by themselves can reduce the price. (OPPAPERS, 2010) One method IKEA uses is mantissa pricing, fixing the prices with 9s, such as 299, 699 and 799 yuan, giving customers an impression of cheapness. (Guangzhou IKEA, 2010) BQ fixes most commodities with appropriate prices for the average consumer. Besides, it also offers discount to attract consumers. Furthermore, BQ offers installment payment service, which is another effective promotion strategy. (BQ, 2010 c) 2.2.4.1 Comparison According to OPPAPERS (2010) and BQ (2010c), both of them set the prices of their products reasonable and appropriate. The prices of BQ products are a little lower than IKEAs. However, IKEAs consumers do not need to pay extra charges for assistance and transportation, which is a quite attracting policy. In contrast, BQ has more beneficial services such as discounting and installment payment. Conclusion 3.1 Summary In conclusion, both IKEA and BQ are successful furniture sales enterprises. They divide their consumers into groups in accordance with types of market segmentation: demographics, psychographics and behavioral. The differences in 4Ps between IKEA and BQ were also discussed in the paper. Moreover, although the IKEA products prices are higher than BQ, their products and locations are similar. Besides, they both have various promotional skills, such as discounting and installation service. 3.2 Recommendation Although both of these two companies have large sales volumes, it is still a necessity to enhance marketing mix, for their installation service charges are slightly higher than peoples expectation. The sales volume could be better if they can reduce the price to some extent. On the other hand, it is suggested that BQs products could be more fashionable and colorful in order to attract younger consumers. It is also recommended that the two companies perform routine market research so as to know well of consumers feedbacks.

Prufrock and Modernist notion of trivial things completeing themselves :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  The Modern humankind is caught up in a series of trivial pursuits that seem to make their lives shallower. Eliot uses â€Å"Prufrock† to show that the only cause for doing the trivial actions is to avoid the bigger issue. Which could be as simple as asking a woman out, or a complicated as facing death. Either way, J. Alfred Prufrock was avoiding everything challenging in his life.   Ã‚  Ã‚  Ã‚  Ã‚  It was his goal to avoid death, because he didn’t know how to deal with it. He avoided asking a woman out, because he was afraid of what she might say. So he found other ways to continue his life, but it lead it to become useless. He slept with many women, but none of them seemed to please him. It was as though he was incapable of being pleasured, and therefore just filled his day with random women to sleep with because it was the only thing to keep him going. Prufrock already knew that he was condemned to hell; maybe he was already living in it. Nevertheless, he didn’t stop sleeping with all these women, he continued as if it was his â€Å"guilty pleasure.† It couldn’t possibly be though because it wasn’t at all pleasurable for him, just a repetitive act that he did. Prufrock was a lonely man, with no hope of having his name carried on. He hadn’t done anything worthwhile, or that some would remember him by, there was noth ing remarkable about him. Prufrock longed to be more than just a workingman, somewhat like Michelangelo. Accomplish something wonderful to be remembered by, and not just known as a sex addict.   Ã‚  Ã‚  Ã‚  Ã‚  Prufrock, however, could never achieve something great. He was too afraid; it held him back and forced him to subject himself to only the most trivial things in life. ,It was these trivial things that Eliot wanted to show. The modernist society had forced many others into a life just like Prufrock lead.   Ã‚  Ã‚  Ã‚  Ã‚  Unable to find true joy in any activity, everyone is subjected to trivial pursuits, shallow goals, and no pleasurable experiences. It was created by the notion that the things that you can’t explain or want to know should just be avoided. If one person couldn’t figure them out, then it was impossible for all. And therefore, society should just give up and come to the realization that the time of great thinking has passed, and nothing new can be discovered.

Greenhouse Gases

We know electricity is a form of energy and energy is the ability to perform work or make things happen, we also know there are several sources of energy and â€Å"wind† happens to be one of those sources. Since â€Å"wind† is simply air in motion, what then is â€Å"wind energy† and how can we generate electricity from it? Well, based on my research, wind energy is the result of the sun’s energy interacting with the earth’s surfaces. It is also an ideal renewable energy source that is infinitely sustainable; pollution free; doesn’t use fuel; and doesn’t produce greenhouse gases, toxic or radioactive waste.This type of energy is considered a green power technology because it has minor impacts on the environment. When using wind to generate electricity we use machines known as turbines and this turbines use blades that are connected to a drive shaft to collect the winds’ kinetic energy which creates a lift that causes them to tur n and then produces electricity using an electric generator. Okay now we know basics, how does this energy source reduce greenhouse gases? First of all, what are these â€Å"greenhouse gases†?Greenhouse gases are gases in an atmosphere that absorb and emit radiation within the thermal infrared range . The primary greenhouse gases in the Earth's atmosphere are water vapor, carbon dioxide (the principal greenhouse gas), methane, nitrous oxide, and ozone. From definition, we know that generating electricity for wind does not produce any of these GHG. Before analyzing how efficient wind energy is in reducing GHG, let us consider some other sources of energy. These other sources include: hydropower (water), solar (sun), geothermal (heat) and nuclear.

Comparison of Plato and Socrates theory vs. Aristotle Theory essays

Comparison of Plato and Socrates theory vs. Aristotle Theory essays Plato and Socrates can explain their theory of knowledge by way of method; the Elenchus: admitting one's ignorance, inquiry, and purpose of theory.They can explain that individuals were naturally born with all knowledge-because they recollect what they already know. Furthermore, genetic disabilities or disorders are attained through injury or diseases occurred after a person already possessed all knowledge. One will in fact, become able to commemorate the apprehension of data with what a he or she previously obtain innately. Since knowledge is not taught, but acquired through the recognition of one's blindness; people also will move as far as they can from concentrating on the intelligible world to In-born abilities that identify individuals and see who they are and what they can and should do with their lives. In addition, the Elenchus explains and justifies the statement-that is, the acceptance of one's ignorance by conclusion that people should look beyond the physical, toward th e ideal world-the Sun-the way of enlightenment. However, if they are more curious, that is, they have the necessary controlling soul ability, then they will want and be able to study subjects that invite then to wonder about the why's and wherefore's. For instance, plane and then solid geometry; and if thinking about the volume of cubes and spheres still intrigues some of the ignorants, they will want to go on to still more abstract subjects: anatomy and astronomy. Each of these entices the soul, if it can, to recollect more abstractly. At the very least each of these four subject will be useful to one who would be happy and successful engineers or architects of which are necessary professions. I do not see exactly what it is, or how it is necessary, what? Inquiry. Why is it the acme as one may call it. Since pure ideas-particularly the Idea of the good-which is the closest any human can come to focus upon the intelligible world. B...

Fighting Ground Short Summary Essay Example

Fighting Ground Short Summary Essay Example Fighting Ground Short Summary Essay Fighting Ground Short Summary Essay Fighting Ground Summer Reading Assignment The Fighting Ground is about a thirteen year old boy named Jonathan. Jonathan has wanted to be a soldier since he was a little boy because his father and his brother were also soldiers. There was going to be a war and Jonathan wanted to join. However, his father disagreed of him being a soldier because he was too young. Jonathan went to the tavern where the Americans prepared to fight without any telling anyone. Before he started fighting he was kidnapped by three Hessians. They tied him to a tree and left him there for hours. After a while they untied him. They were talking in German and Jonathan felt scared because he thought that they were going to kill him. All of a sudden they heard a cow mooing. They approached the sound that led up to an abandoned house. Surprisingly in front of the house there was a little baby. He was alone. â€Å"Where are your parents? † asked Jonathan. The boy would not talk. Suddenly the boy grabbed Jonathan’s hand and took him somewhere. : Jonathan went with the boy. On the floor were two people a man, and a woman. â€Å"Mama, Mama,† cried the baby while pointing at the woman. He sat down playing with his dead mother’s hair. They looked like they were murdered. A couple hours later the baby fell asleep on his mother. That night Jonathan could not go anywhere because his foot was tied to one of the Hessian’s foot. He quietly untied the rope from his foot, went outside, grabbed the baby and headed towards the tavern. While the baby was sleeping on Jonathan’s shoulder, Jonathan walked through the woods in cold harsh weather. Finally he had reached the tavern. â€Å"Where were you, we thought you died† said one of the American soldiers said. Nervously, Jonathan told the Americans what had happened and he told the American soldiers where to find the Hessians. He couldn’t really remember because he had been walking for a long time. They went back to the house guns in hand with the baby still on Jonathan’s shoulder, Jonathan was struggling. The Americans surrounded the house. The Hessians had no chance to escape. They opened the door, guns drawn but were instantly killed by the American soldiers. The Americans went to the tavern but Jonathan went back home. He left the baby with the soldiers so they could care for him. Back home, he saw his father. â€Å"Were you†¦ hurt† his father asked him. Jonathan shook his head no. â€Å"Thank goodness†, he whispered. Jonathan proved that he was brave and loyal to his country, and that made his father very proud.

The Silk Road Essay Example | Topics and Well Written Essays - 1000 words

The Silk Road - Essay Example And it was during 200 BC that Han rulers took control of Tarim region. The Silk Road was subsequently opened under China's control and the route to the Western part of the world started working. Chinese traders used Silk Road for the trade, which resulted in establishing of the Silk Road. Subsequently other countries also started using the road for carrying out their trade related activities thus strengthening the mutual relationship. In fact the 'silk road' is not a road as such, but a long stretch of trade route taken by the trading community. The trail spread mainly across Central Asia, resulted in prosperity not only along the route but in nearby regions as well, as branches from the main route emerged out of the Silk Road towards newer destinations in the interiors of the region. During those early days, the Roman, Parthian, Kushan, and Chinese worked towards providing stability to the Silk Road. Different countries had on offer different types of merchandise for China while Chinese started off with silk and then added more items on the trade. For example India traded with China in gems & jewelry, semiprecious stones, and glass which are the forte of India for many centuries. Buddhism also spread to from India to China through the silk route. The famous Chinese philosopher Fa-hsien, was one of first known Chinese travelers who took Silk Road for traveling towards India around 300 AD. Marco Polo, the famous traveler took 24 years while traveling through Asia. He also chose the Silk Road for his adventurous journey. His travels ignited the urge for industrialization in the Asian subcontinent. Today we can very well boast of the ICT era led technological boom in the industrial world, but historians credit Marco Polo's travelogue for bringing about the technological changes. In fact silk route led industrialization in this part of the world proved to be a turning point for the technological advancements. Marco Polo with his entourage did lot of purchasing from one region and sold it in another region along the silk route, which strengthened the trade practices along the Silk Road. The products sold by him were appreciated by the people, because till then people did not have much idea about the products being made by neighboring countries and regions. Though Osterhammel and Petersson identify the period from 1750 to 1880 as an era which gave rise to the phenomenon of free trade development and as an important step towards globalisation but Marco Polo's trade along the silk route, during the first half of 14th century could very well be termed as the beginning of globalisatio n. Trade along the Silk Road prospered during the times when China was ruled by a succession of non-Chinese dynasties belonging to different ethnic groups, as these groups depended to a great extent on outsiders for trade. Trade activities along the Silk Road suffered a decline owing to change in political equations in China and neighboring India. When power passed on to the Song dynasty, it proved to be weak in retaining control over strategically important central and northern part of China, which resulted in loss of control over Central Asian trade, thus diminishing the role of Silk Road. Subsequently Chinese rulers started paying more attention towards the sea route for carrying out trade. Subsequently when Mongols came to power during the late thirteenth and early fourteenth century, the Silk Road was once again revived for trade.

Genetic Disorder Essay Example | Topics and Well Written Essays - 500 words

Genetic Disorder - Essay Example It is possible for parents to pass this problem to their children. According to the World Federation of Hemophilia statistics, there are more than 500,000 people with hemophilia worldwide (Freedman, p45-46). Blood clotting is a result of chemical activities in the body. When one is wounded, the blood vessels are affected. Platelets clump together to begin plugging the hole. This process is called platelets adhesion. The first platelets to reach the injured area block the chemicals that draw proteins called clotting factors. As soon as the clotting factors get into the scene, they assist in the formation of fibrin, a chain of proteins. The threads of fibrin form a web of tough fibers around the platelets, holding them tightly in place. When one has hemophilia, one of the clotting factors is lacking or is not working properly. The blood clot forms are normally soft and can easily fall apart (Freedman, p48). There are two types of Hemophilia namely; hemophilia A and hemophilia B, which is the most common and both types result from a faulty gene that impedes the production of the clotting factors that permit the blood’s normal ability to clot resulting in unusual, acute bleeding tendency. Both forms of hemophilia may either be mild whereby bleeding only happens under severe stress for instance major injury, moderate where spontaneous bleeding is rare but bleeding occurs after trauma or surgery or severe whereby spontaneous bleeding is common. In spontaneous bleeding, a person bleeds in any body part especially in the spine finger-joints, feet and wrists, even with no recognizable trauma (Cutler, para2). Hemophilia is more common in males than females. The scientific explanation is that the gene for hemophilia is found in X chromosome. X chromosome determines the sex of a baby. Females have two X chromosomes while males have one Y chromosome and