Marketing Strategy of Ikea Malaysia
3.0 Marketing Actions IKEA has been done 4.1 Product
Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. According to Pan (2005) it covers more than the physical goods the company wants to sell, it is the goods and an attractive assortment of products for consumer to buy in the store combination. IKEA make itself attractive by offering wide range product. Their product range focuses on good design and function at a low price.
IKEA offers more than 12,000 items to fit out from flowers pots to carpets, via dishes, lamps and wallpaper, in other words, it offers home furnishing solutions for every room in the home. Products range widely in several ways; first, it is wide in function that customer can find everything they need to furnish their home, from plants and living room furnishings to toys and whole kitchens. Second it is wide in styles, according to Zeller (2002), there are four basic styles which are Scandinavian (sleek wood), modern (minimalist), country (neo-traditional), and young Swede (bare bones) (Zeller, 2002). And finally, by being coordinated, the range is wide in function and style at the same time, and at all times. IKEA products are designed in accordance with the expectations of reach all segments which can be: young or old, high or low income, modern or classic, etc. At the end, no matter which style customer prefers, there is something for everyone in IKEA (IKEA).
Furthermore, each of IKEA products has a name rather than a code. This way a television unit can be called Ralf, Timmerman, Kompass or Salen while a plant pot holder can be Suspekt, Metafor of REson. The reason is that IKEA wants to project the feeling that the products are part of the family. (Prime, 1998)
Research and development is carried out in IKEA ‘laboratories’, the group take a product council directive, plot IKEA’s existing product lineup on a grid, and look for empty spaces and then,
Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. According to Pan (2005) it covers more than the physical goods the company wants to sell, it is the goods and an attractive assortment of products for consumer to buy in the store combination. IKEA make itself attractive by offering wide range product. Their product range focuses on good design and function at a low price.
IKEA offers more than 12,000 items to fit out from flowers pots to carpets, via dishes, lamps and wallpaper, in other words, it offers home furnishing solutions for every room in the home. Products range widely in several ways; first, it is wide in function that customer can find everything they need to furnish their home, from plants and living room furnishings to toys and whole kitchens. Second it is wide in styles, according to Zeller (2002), there are four basic styles which are Scandinavian (sleek wood), modern (minimalist), country (neo-traditional), and young Swede (bare bones) (Zeller, 2002). And finally, by being coordinated, the range is wide in function and style at the same time, and at all times. IKEA products are designed in accordance with the expectations of reach all segments which can be: young or old, high or low income, modern or classic, etc. At the end, no matter which style customer prefers, there is something for everyone in IKEA (IKEA).
Furthermore, each of IKEA products has a name rather than a code. This way a television unit can be called Ralf, Timmerman, Kompass or Salen while a plant pot holder can be Suspekt, Metafor of REson. The reason is that IKEA wants to project the feeling that the products are part of the family. (Prime, 1998)
Research and development is carried out in IKEA ‘laboratories’, the group take a product council directive, plot IKEA’s existing product lineup on a grid, and look for empty spaces and then,
References: Cravens, D. (2000). Strategic Marketing. Boston: McGraw-Hills Company, Inc. Prime, N. (1998). IKEA: International Development. In M. Duphuis, & J. Dawson, European Cases in Retailing (pp. 33-48). Oxford: Blackwell Publisher Ltd. Magazines and newspapers: Anon (2006, March 3) Mellim, R. D. (2008, April 18). Look and learn about marketing the Ikea way. from Cabinet Marker, p.10. Burt, S., Johansson, U., & Thelander, A. (2008). Standardized marketing strategies in retailing? IKEA’s marketing strategies in China, Sweden and the UK. Stockholm: 1st Nordic Retail and Wholesale Conference. Ibrahim, M. F. (2002). The Importance of entertainment in Shopping Centre experience. Journal of Real Estate Portfolio Management, Vol. 8, No. 3, pp 239-254 Issakson, R., & Suljanovic, M Kippenberger, T. (1998). The Story of IKEA. The Antidote, Vol. 8. No. 9, pp. 33-34 Pan, Y The Economist: (1994) "Furnishing the world."; Nov. 19, p101-102 Zeller, J Cooper, W. (2006, November 9). Ikea steps up online marketing activity ahead of retail launch. from New Media Age: http://web.ebscohost.com Magonelly, L