SWOT Analysis of Ikea's Nanjing Store
IKEA Nanjing Store’s Mission
Each IKEA branch company needs to define its specific mission within the broader company, which mission is “Create a Better Everyday Life”. Thus, IKEA Nanjing Store might define its mission as, “Establish IKEA Nanjing as the leader in life at home”. IKEA Nanjing Store needs to be two directions: 1. Inspire and stimulate the many Nanjing people’s interest in improving their lives at home through deeply understanding people’s needs, frustrations, and dreams and by using IKEA home furnishing knowledge and competence to provide affordable, relevant and understandable home furnishing solutions. 2. Achieve this only when their co-workers become competent and highly motivated.
The below table forecast the datum analysis of goals and results from fiscal year 2012 to 2015.
IKEA Nanjing SWOT Analysis
We can use SWOT analysis to evaluate the IKEA store’s marketing, which monitor the external (Opportunity and Threat) and internal (Strengths and Weaknesses) marketing environment.
IKEA Nanjing Store needs to monitor key macro-environment forces and significant micro-environment factors that affect its ability to earn profits. So it tracks trends and important developments and any related opportunities and threats.
Opportunity: * There is a stable birth rate and population increase rate in Nanjing city. * The income of Nanjing population has been increased at high level. Jiangsu Province is the second largest GDP in China over the past five consecutive years and Nanjing is the capital of Jiangsu Province. * There are a large number of second hand house and old house refresh in Nanjing city. * With the rising house price, the more many people are living in small space trend, the more people need to multifunctional furniture to decorate their small space. * Nanjing people are home lovers and easy to be influenced to take action to improve their home life. * To consider environment degradation and keep
Each IKEA branch company needs to define its specific mission within the broader company, which mission is “Create a Better Everyday Life”. Thus, IKEA Nanjing Store might define its mission as, “Establish IKEA Nanjing as the leader in life at home”. IKEA Nanjing Store needs to be two directions: 1. Inspire and stimulate the many Nanjing people’s interest in improving their lives at home through deeply understanding people’s needs, frustrations, and dreams and by using IKEA home furnishing knowledge and competence to provide affordable, relevant and understandable home furnishing solutions. 2. Achieve this only when their co-workers become competent and highly motivated.
The below table forecast the datum analysis of goals and results from fiscal year 2012 to 2015.
IKEA Nanjing SWOT Analysis
We can use SWOT analysis to evaluate the IKEA store’s marketing, which monitor the external (Opportunity and Threat) and internal (Strengths and Weaknesses) marketing environment.
IKEA Nanjing Store needs to monitor key macro-environment forces and significant micro-environment factors that affect its ability to earn profits. So it tracks trends and important developments and any related opportunities and threats.
Opportunity: * There is a stable birth rate and population increase rate in Nanjing city. * The income of Nanjing population has been increased at high level. Jiangsu Province is the second largest GDP in China over the past five consecutive years and Nanjing is the capital of Jiangsu Province. * There are a large number of second hand house and old house refresh in Nanjing city. * With the rising house price, the more many people are living in small space trend, the more people need to multifunctional furniture to decorate their small space. * Nanjing people are home lovers and easy to be influenced to take action to improve their home life. * To consider environment degradation and keep