MKT 4001 CONTEMPORARY MARKETING STRATEGY Ikea CASE STUDY Lecturer: Dr. Ian Michael BY SALMAN MAQSOOD SHEIKH M00122796 Word count - approx. 1700 WORDS Question 1 Develop a profile of the typical ikea customer. To what extent does this profile vary across countries? Ikea has managed to create an unbeatable atmosphere throughout each and every store they have opened world-wide. Paying attention to every little detail from beddings to photo frames‚ it gives visitors a sense of being at home
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IKEA’s GLOBAL SOURCING CHALLENGE EXECUTIVE SUMMARY The IKEA Group‚ one of the world’s top furniture retailers‚ has emerged as the fastest-growing furniture retailer in the US. Its unique business strategy has given it its strengths for its success today. However‚ like all strategies‚ IKEA’s strategy has its own flaws that can pose as weaknesses. IKEA also has a lot of opportunities in the marketplace such as expansions of their company and threats such as competitors in the same industry
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Position 8 7- Image 8 8- Generic strategies 8 9- Cost leadership 8 10- Differentiation 9 11- Focus 9 12- Growth Strategy 9 13- VERTICAL INTEGRATION 10 14- Market development and expansion 11 15- Market penetration 11 16- Niche Strategy in USA 12 17- Global sourcing decision 12 18- Competitors 13 19- Core Competence 14 20- Challenges & its effect on Ikea 16 21- Solutions 18 22- Recommendations 20 23- References 22 1- History When Ingvar Kamprad founded IKEA in Sweden in 1943‚ his vision was
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Introduction IKEA‚ the Swedish home furnishing retailer specialising in affordable flat pack furniture is known as the world’s largest retailer of well-designed‚ inexpensive and functional furniture and products for the home. IKEA opened its first furniture showroom in Sweden in 1953‚ and now has over 345 stores in 26 countries worldwide. As the importance of online presence grows‚ IKEA has also launched over 13 successful e-commerce websites in many parts of Europe‚ UK and the US. It is undeniable
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What are some of the things IKEA is doing right to reach consumers in different markets? What else could it be doing? A: IKEA is a global brand with thousands of stores around the world. It is successful because it provides unique value proposition to its customers-sophisticated design at extremely low price. IKEA procures its raw materials from multiple of companies around the world and thus it can save a lot of money and charge low price to the customers. Though IKEA is a Swedish brand‚ it functions
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Business Model (IKEA International Group) 1. Business Model Canvas Key Partners 1. Suppliers 2. Manufacturers 3. Brand Vendors 4. Service Providers Key Activities 1. Design and Develop Furniture and Home Decoration items 2. Product Planning 3. Inventory Control 4. Marketing and Sales 5. Restaurant 6. Customer Services Value Proposition 1. Offer innovative and comprehensive products with affordable price to customers 2. Advocate self-service for mix and match by customers through uninstalled packaging
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University of Halmstad School of Business and Engineering Bachelor Degree A creation of competitive advantage by using differentiation of company’s strategy actions. The case study of IKEA Sweden with experiences on Chinese and French markets. Dissertation in Marketing Credit point level – 10 ( 15ECTS) Supervisor: Venilton Reinert Authors: Landry Capdevielle Min Li Paulina Nogal Halmstad‚ 23rd of May 2007 The table of contents Introduction............................................
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Internationalisation project IKEA enters the South American market Executive Summary In this essay‚ we will discuss an internationalisation option for IKEA: entering Brazil. IKEA is an established leader in the flat-packed furniture market. Its’ success is based on effectively delivering their value proposition: wide range of products that are well designed‚ at affordable prices. This is possible due to economies of scale and scope‚ shifting assembly from the IKEA value chain to the consumer
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account for the success of IKEA? 2. What do you think of the companys product strategy and product range? Do you agree with the matrix approach described in Figure B of the case? 3. Despite its success‚ there are many downsides to shopping at IKEA. What are some of these downsides? IKEAs Vision Statement (in Figure C of the case) describes how the company seeks to build a partnership with its customers. What do you think of this vision statement? 4. The fact that IKEA hopes to have fifty stores
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Ikea Global Sourcing Challenge: Indian Rugs and Child Labor IKEA and Marianne Barner are facing a very challenging issue. Because they were blind sided by the child labor issues with their supplier‚ they had to scramble to respond to the issues in a quick and appropriate manner. IKEA sent a legal team to Geneva to seek input and advice from the International Labor Organization on how to deal with the problem and to find out more about the child labor issues. They also hired a third party agent
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