The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on IKEA. IKEA opened new stores at a slower rate in China than other foreign retailers such as Wal-Mart Stores, Inc. , which expanded rapidly throughout China. Though IKEA claimed that it attracted Chinese consumers on the price front, it was still not well recognized by Chinese consumers, some industry observers remarked. The sources of IKEA’s successful entry into the furniture retail business were IKEA’s low prices and resilience.
The thesis presents a case study of IKEA Shanghai’s marketing performances from a cultural perspective, following the model of the marketing mix (the 4Ps). First, Ingvar Kamprad, the founder of IKEA, began selling furniture in his mail order company.
Welcome to a world of inspiration for your home. IKEA has run many successful campaigns where they’ve gotten insight from their customers to help shape their marketing and product decisions. Hoppsan (that’s “oops” in Swedish)! Apart from its affordable products, the brand is also known for great quality and matchless designs. Quite simply, it is a detailed analysis of the elements that constitute or influence a company’s efforts to profitably market its products- today and in future when both market and products may undergo radical change” ( John, Alexander, & Theodore, 1969). They then in the later years expanded their company and it reached a wider audience in other countries. They then in the later years expanded their company and it reached a wider audience in other countries. Behind their success, it lies Ikea’s brilliant digital marketing strategy.
Marketing Mix of IKEA: IKEA is a world famous brand of affordable home furnishing products. IKEA has run many successful campaigns where they’ve gotten insight from their customers to help shape their marketing and product decisions. A great example of this was their First :59 campaign, where they reached out to their customers to ask them about their morning routine and how it impacts the rest of their day. IKEA furniture and home accessories are practical, well designed and affordable. IKEA: Target Market and Positioning Strategy 1157 Words 5 Pages Targeting and positioning strategies consist of analyzing and identifying segments within a given product-market, choosing which segment or segments to target, and developing and implementing a positioning strategy for each targeted segment (Cravens & Piercy, 2009). The findings convey
IKEA entered the Chinese market in 1998 by first opening a shop in Shanghai, the financial centre of the country and are now ready to expand further.
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