| Family Store Bhd.RM ( ’000) | Furniture Concept Bhd.RM ( ’000) | i. | Current Ratio | Current Ratio= | = 2 x | = 2.28 x | ii. | Acid-test Ratio | Acid-Test Ratio=Current Assets - InventoryCurrent Liabilities | = 1.04 x | = 1.22 x | iii. | Inventory Turnover | Inventory Turnover== | = = = 5.67 x | = = = 6.5 x | iv. | Account Receivable Days | Account Receivable Days= | = 31 days | = 37 days | Part A | | Formula | Family Store Bhd.RM ( ’000) | Furniture Concept Bhd.RM ( ’000) | v. |
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IKEA has an innovative strategy that has made IKEA Group a top furniture retailer around the globe. What distinguishes IKEA from other furniture retailers is that the stores are entirely self-service and all furniture is purchased unassembled‚ and furthermore‚ IKEA strives for a combination of quality and cost-efficiency in the production and sales of items. Additionally‚ there are features in every store to mitigate the furniture shopping process‚ including child playrooms and Swedish Cafés. IKEA
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homogeneous target group | Competitors | Imports‚ mainly from Scandinavian | Seems unknown | | MDF and wood veneer versus full wood | Seems unknown | | 50% above local competitor’s prices | 25% above local competitor’s prices | Collaborators | Furniture dealers specializing in the children market | | | Simple product; sufficient marketing communications: ‘mouth to mouth’ | Complex product; insufficient communications | Company | External market focus | Internal company focus | CFL did
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customers. By 1945‚ the first advertisements for IKEA began showing up in local newspapers and he had developed a rudimentary catalog. IKEA Store: The first full IKEA store opened in Älmhult in 1958. With 6700 m2 (72‚118 ft2)‚ it was the largest furniture display in all of Scandinavia. In 1963‚ the first IKEA store outside Sweden opened near Oslo in Norway‚ followed by the flagship store in Stockholm - a whopping 45‚800 m2 (492‚987 ft2) circular store inspired by the Guggenheim Museum in New York
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is furniture product made from cardboard that has undergone various processes so that quality is almost the same as the partical board in terms of strength‚ and resistance to water. Tabla also has a unique design. With a vision to bring green furniture that are concerned about the bottom line‚ according to customer wishes‚ and affordable prices. And the mission is maintaining customer’s trust‚ and always continue to develop products and quality. Additionally Tabla also a product of furniture that
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mainframes would become obsolete and that personal computers would become the future of the technological industry. The Paragon Company started out as a welding company in the 1940’s‚ and by the 1950’s‚ the company was producing lawn furniture. The first year in the lawn furniture business the company had 150‚000 in sales but grew to 52 million. At that point Jeffrey began working for the Paragon Company‚ as a result of his uncle’s death. Once Jeffrey took over the business he modernized the entire plant
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In the early 1970s IKEA had established itself as the largest furniture retailer in Sweden. What was the source of its competitive advantage at that time? Although there were competitive advantages in the furniture industry‚ the company had a tough time placing themselves and once the company was established‚ Kamprad began participating in Stockholm‚ Sweden ’s yearly furniture trade fair. IKEA’s products were not accepted by other retailers and as a result they were banned from selling directly to
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[pic] The proposed business to be established will be the manufacturing of furniture. Antigua’s Furniture Factory is the name of the business .Which will be located at the junction of Bendals main road and All Saints main road. The purpose of sitting up this type of business is to answer the call of the demand for high quality furniture and the high cost of obtaining quality furniture for individuals and also help in the eliminating of unemployment and help to provide a better way of life.
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grocery store‚ a Swedish cuisine restaurant and a supervised play area for kids. This I’ve seen myself in Dubai too. The store is a self-service store. The product is taken home and assembled by the customer himself. IKEA produces its furniture or parts of the furniture in a particular few places and send them worldwide for sale. This approach leads to economies of scale which lowers the price of the end product. Economies of scale is achieved when the company takes advantage of the economies of different
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Our VISION SIMPLY Phenominal Target Market The need of buying furniture is realized by the spouse of the head of the family‚ and in most cases‚ she is the one to decide what‚ when and where to purchase. Hence the spouse of the head of the family is usually the Initiator and Decider‚ apart from being the buyer and user. Since we are dealing in Islamabad region only and in two categories of furniture i-e Home Furniture and Kid’s Furniture we have outlets in Blue Area and F-10 Markaz‚ so we are targeting
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