Background of the company IKEA is a privately held‚ international home products company that designs and sells ready-to-assemble furniture such as beds and desks‚ appliances and home accessories. The company is the world ’s largest furniture retailer. Founded in 1943 by 17-year-old Ingvar Kamprad in Sweden‚ the company is named as an acronym comprising the initials of the founder ’s name (Ingvar Kamprad)‚ the farm where he grew up‚ and his home paris (Timetoast‚ 2013). IKEA has 300 home furnishing
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IKEA in China (Group Project Progress) (Slide 1) Hello everybody! My name is Anastasiia and I am a presenter from Team 5. For our group project we chose IKEA Company and its market in China. (Slide 2) In today’s presentation I will talk about IKEA history and background‚ make an analysis of its current situation in the world and in China particularly‚ and then move to its current problem. (Slide 3) IKEA is a Swedish home products company that is perhaps best known for selling ready-to-assemble
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Introduction Ikea has been offering a wide range of well-designed home furnishings and functional living solutions at a lower price so that many people can afford them. This business idea supported their vision of creating a better everyday life for the many people (Ikea‚ 2012). Ikea’s Value Value is what customers see and willing to pay for that exceeds the cost of the product. Ikea’s value chain offers their customer a value which results in a profit margin. Ikea’s customers are mainly attracted
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IKEA Case Study Strategic Marketing Plan Review Table of Content 1.0 Executive Summary Pg. 3 2.0 IKEA Company’s Proflie Pg. 4 3.0 Segmentation Base on Applied by IKEA Pg. 5 3.1 GEOGRAPHIC SEGMENTATION 3.1.1 TARGET MARKET SEGMENTS Pg. 5 3.2. DEMOGRAPHIC SEGMENTATION 3.2.1 TARGET MARKET SEGMENTS: Pg. 6 3.3 PSYCHOGRAPHIC SEGMENTATION Pg. 6 3.4 BEHAVIORAL SEGMENTATION 3.4.1 TARGET MARKET SEGMENTS Pg. 7 3.5 IKEA’S POSITIONING STRATEGIES Ph. 7 4.0 Customer Value Provided
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6. Information Management system of IKEA………………………...(6~10) 7. Shopping at IKEA Franchises……………………………………..(10~13) 8. Summary……………………………………………………………….(14) 9. References……………………………………………………………..(15) History and background IKEA is a privately held‚ international home products company that designs and sells ready-to-assemble furniture. Ikea is made up of two other businesses‚ INGKA Holding B.V; which is the "parent company" for all of IKEA ’s group companies and Swedwood industrial
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1) Looking at Ikeas challenges.. -low cost replacement for wood -global warming -deforestation - new sources of supply to support more store openings Option: Fabricating material Eco Friendly Substitute‚ still low cost… look a like 2) those countries match Ikeas target market -college students -budget -standard of living -income Challenge: -known for stylish‚ low-cost -other firms see Ikea as a threat and to compete and sustain they have developed new low cost furnishing
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market in that area. From a long-term financial standpoint‚ Supercompra will be able to be profitable in a few years if they integrate and collaborate with local suppliers successfully. They will hold a sustainable competitive advantage over other retail chains‚ because their suppliers will be local (quicker lead times) and more affordable. (Higher bargaining power of purchasing will lead to lower prices) IKEA: Indian Rugs & Child Labor Summary: Ikea is a Swedish furniture retailer. One of
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Introduction IKEA states in their business idea: "We shall offer a wide range of home furnishing items of good design and function‚ at prices so low‚ that the majority of people can afford to buy them"(IKEA 2005). IKEA manage to keep costs low by their superior relationship with their suppliers were they buy low-cost components in huge quantities. Together with efficient warehousing and customer selling service it passes on to customers resulting in lower prices‚ anywhere from 25 - 50 % lower than
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IKEA is a well-known global brand with hundreds of stores across the world. In order to improve performance‚ it must assess its external and competitive environment. This will reveal the key opportunities it can take advantage of and the threats it must deal with. IKEA responds to both internal and external issues in a proactive and dynamic manner by using its strengths and reducing its weaknesses. Through this‚ IKEA is able to generate the strong growth it needs to retain a strong identity in the
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STRATEGIC ANALYSIS OF IKEA POLITICAL-Foreign investment restrictions-Companies as charity for tax avoidance-VAT increase to 20%-Globalization has eased import rules.-Government regulation climate change act 2008) | Ref13119 | ECONOMICAL-Economic crisis in North America.-Rising raw material and transport cost in 2009-Low spending power due to recession.-Recession in Russia-High import tax in japan | Ref2‚34677 | SOCIAL-Requirements on wood supplier-Brand image-Does not accept child labour-Women
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