Extended Essay Reflection – Part 1

People get attracted to theme parks, music concerts, books, and other things, in my case I like to know about what factors makes some organizations a success. Such an organization’s journey is full of struggle, hard work, perseverance, and teamwork. I chose to write my Extended essay on business management where I can explore any one organization in depth. I looked across industries trying to find the most suitable organization who rose from nothing to almost everything and becoming a leader in their market. After researching on the internet and reading some books, I chose IKEA(A Swedish company) as my central firm to write my extended essay on. When conducting preliminary research I found out that IKEA’s marketing strategies are one of the major contributing factors to its huge success. I then decided to write my extended essay on the marketing mix of IKEA more specifically Price and Promotion aspects of their marketing mix. To narrow down the Research question, I had to select a country on which I want to write on. IKEA being a Swedish company has no/less research done in its Swedish or Germany where it has many stores. Hence, I chose the USA where many pieces of research have been done on IKEA and its stores. Next, I have defined success in terms of sales so that I can measure its success through a variable. The topic does have sufficient studies and statistics from which I can write my Extended Essay. I will make sure I use appropriate data from reliable sources so there are fewer chances of any incorrect information. Currently, I am researching on IKEA wherein I am looking at its background, marketing mix, promotion strategies, pricing strategies and its sales over the years.

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