MBAA 514: Marketing Case Study of the IKEA Company September 12‚ 2011 Embry-Riddle Aeronautical University- Worldwide Executive Summary IKEA (2011) has found a wide market in the discount furniture industry. The mission is simple- provide furniture to help everyone decorate as they like (IKEA‚ 2011). The company always strives to lower costs and pass savings to consumers (IKEA‚ 2011). It provides exceptional products which enabled the company to increase sales through the recession (Manners
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‘copycat’ threats SWOT analysis of IKEA 1998‚ IKEA entered the Chinese market and opened the first shop in Shanghai. Accompanied by the combination of Chinese economic environment and Chinese furniture market circumstance‚ the following SWOT analysis will be utilized to evaluate IKEA in Chinese market. Strength IKEA provide several strengths compared with any other furniture company. First of all‚ IKEA possessed a strong brand image (5). Before entering Chinese market‚ IKEA has already been a well-known
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MARKETING MANAGEMENT CASE STUDY Synopsis This case study is to deliberate about IKEA’s marketing strategy in reaching out customers. Also discussing about IKEA’s business idea and IKEA follows a quite traditional pattern of internationalizing and also drives the localization thoughts in different market place to stay competitive. Their vision “To create a better everyday life for the many” and their ultimate business idea “ To offer a wide range of well designed‚ functional home furnishing
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According to Echeat (2006)‚ the IKEA had more than 175 stores spread over 31 countries at the end of 2002 and worldwide sales of about 12.8 billion euros in 2004. During the IKEA financial year 2001-2002‚ a total of 60‚000 people are employed by IKEA worldwide and there are 323 million people visited IKEA stores around the world (Kronos‚ 2006). IKEA mission is to offer consumers good value for their money. The typical IKEA customer is young low to middle income family. IKEA success in the retail industry
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Strategic Management Analysis of IKEA Hong Kong Introduction In order to understand what strategic position and direction which IKEA takes in Hong Kong market so as to keep making successful business‚ it is important to conduct a strategic analysis of IKEA HK from internal‚ external factors to its strengths‚ weakness‚ opportunities and threats to evaluate this company. To tide over the economic crisis‚ most of the HK home furniture business tends to “low price strategy” so as to gain market share
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1. Introduction The aim of this report is to analyze ‘IKEA’ as a company and produce a tactical plan. To make an evaluation on the international marketing activities of the IKEA through the use of various marketing techniques including PEST and SWOT analysis and will conduct critical analysis of the existing international marketing strategies and issues facing ‘IKEA’ and how they can enter into India and Indian market‚ and will discuss about possible recommendations and solutions that
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IKEA INVADES AMERICA INTRODUCTION IKEA is an international company which designs house products and sells them in the form of ready to assemble furniture. It is one of the world’s largest furniture companies. It is founded by17 years old Ingvar Kamprad in Sweden in 1943. The most important fact about the company is the attention to control the cost of the products‚ which allows them to lower the prices. Even today they are continuing to expand in the world by looking forward to new product developments
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IKEA – Research Essay Introduction The purpose of this research essay is to update IKEA’s company status for the last six years‚ i.e. 2003 to 2009/2010. The IKEA vision “to create a better everyday life for the many people” is at the heart of its business‚ in collaboration with the IKEA business Idea “to offer a wide range of well designed‚ functional products at low prices.” IKEA‚ a Swedish home furnishings retailer‚ is known today as the world’s largest designer and retailer of inexpensive‚ functional
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Introduction of the company 4 Analysis of current situation 6 Current mission: 6 Goals: 6 Strategy: 6 Internal environment 6 Core competence: 6 Synergy: 7 Value creation: 7 Functional analysis: 7 Strengths: 7 Weaknesses: 8 External environment 8 Macro environment 8 Opportunities: 9 Threats: 9 Porter five forces 10 SWOT-matrix: 11 Strategic Gap: 12 Strategic choice: 13 Implementation plan: 14 Conclusion and Recommendations : 15 Bibliografy 16 Executive Summary: IKEA is a company established
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The IKEA case Management and organizations 2010-2011 IBMS 1st year Foreword This assignment had to be written for the class of Management and Organizations at Stenden University‚ course IBMS‚ first year. We had a group of 6 and had to work it out together. We were enjoying getting into the world of IKEA‚ the world’s most furniture store on the market. Executive summary IKEA is an abbreviation of Ingvar Kamprad Elmtaryd Agunnaryd. The initials come from the name of the
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