SWOT ANALYSIS IKEA
SALAM STUDY PRE UNIVERSITY FOUNDATION
TOPIC:IKEA SWOT ANALYSIS
Student name: Aigerim Abdykarimova
Tutor: mr.Georoge
IKEA International Group SWOT analysis for 2013
Company Background
Name: IKEA International Group
Industries served: Retail
Headquarters: Netherlands
Current CEO: Mikael Ohlsson
Revenue: € 27.000 billion
Employees 139,000
Strengths
1. Customer knowledge
One of the key competitive advantages IKEA has is its extensive knowledge about the customers. The company understands the purchasing factors that influence customers to buy and implements the best practices to induce that decision. IKEA offers low prices and a huge range of products. Designers constantly introduce new design products that look stylish in the eyes of customer
2. Constantly using innovations to drive costs down
Low prices are the cornerstone of IKEA business idea and the company always tries to do things as efficient and cost-effective as possible. To drive costs down all the time, the company must find new and innovative ways to do that and to incorporate them in its businesses model.
3. Supply chain intergration
IKEA is committed to long lasting relationships with its suppliers. In this way, the company can order large volumes and benefit from lower prices and greater quality while suppliers are assured of guaranteed orders
4. Brand reputation and market presence
According to Interbrand, IKEA is the most valuable furniture retailer brand in the world, valued at nearly $US 12.8 billion in 2012. The business operates 332 stores in 38 countries and is present in the major world markets.
5. Diversified product portfolio
Unlike IKEA’s largest competitors, the company has fairly diversified businesses. In addition to its furniture products, the company operates restaurants, houses and flats. Although, firm’s main business is designing, manufacturing and selling furniture it is not
TOPIC:IKEA SWOT ANALYSIS
Student name: Aigerim Abdykarimova
Tutor: mr.Georoge
IKEA International Group SWOT analysis for 2013
Company Background
Name: IKEA International Group
Industries served: Retail
Headquarters: Netherlands
Current CEO: Mikael Ohlsson
Revenue: € 27.000 billion
Employees 139,000
Strengths
1. Customer knowledge
One of the key competitive advantages IKEA has is its extensive knowledge about the customers. The company understands the purchasing factors that influence customers to buy and implements the best practices to induce that decision. IKEA offers low prices and a huge range of products. Designers constantly introduce new design products that look stylish in the eyes of customer
2. Constantly using innovations to drive costs down
Low prices are the cornerstone of IKEA business idea and the company always tries to do things as efficient and cost-effective as possible. To drive costs down all the time, the company must find new and innovative ways to do that and to incorporate them in its businesses model.
3. Supply chain intergration
IKEA is committed to long lasting relationships with its suppliers. In this way, the company can order large volumes and benefit from lower prices and greater quality while suppliers are assured of guaranteed orders
4. Brand reputation and market presence
According to Interbrand, IKEA is the most valuable furniture retailer brand in the world, valued at nearly $US 12.8 billion in 2012. The business operates 332 stores in 38 countries and is present in the major world markets.
5. Diversified product portfolio
Unlike IKEA’s largest competitors, the company has fairly diversified businesses. In addition to its furniture products, the company operates restaurants, houses and flats. Although, firm’s main business is designing, manufacturing and selling furniture it is not