2 Mexican Political, Rules and Regulations.
0 Entry Strategies Discussion & Evaluation.
1 Entry Strategy Selection and discussion. 11.
5.0 CMG market analysis & segmentation in Mexico.12.
6.0 Global Marketing Mix Strategies. 12.
6.1 Product Strategy in Mexico .13.
6.2 Price Strategy in Mexico. 13.
6.3 Promotion Strategy in Mexico . . 13.
6.4 Place strategy in Mexico. 14.
7.0 References. 15.
1.2 Executive Summary.
IKEA has been proving to be the market leader in the home furnishing industry due to its market share and profitability. IKEA's strong worldwide brand image and its reputation in its 37 US retail locations, enables the firm to emerge in the Mexican market. As IKEA operates in various markets facing customers from different backgrounds, it is imported to adjust its global marketing strategies based on consumer relations, local traditions, cultural preferences and behaviors. Therefore, an in-depth PESTLE insight of the political, economic, social, technological, legal, and environmental structure in Mexico is recommended in order to explore IKEA's opportunities and strengths in the Mexican market.
The third section covers an analysis using the framework model of Porter's five forces that are useful to determine competitive power in a business situation. The result of the previous analysis will determine the best entry strategy of IKEA into the Mexican market. The global marketing strategy will be evaluated (product strategy, price strategy, promotion strategy, and place strategy) to determine what parts of IKEA can be standardized and what parts must be adapted to meet the target requirements. .
1.3 Introduction of Mexico.
Mexico is located in North America, though traditionally; it is known more closely with Central and South American countries. Mexico is a federal constitutional republic in North America, with an estimated population of over 113 million. It has thirty-one states and a Federal District, the capital city.