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How different is different? IKEA's challenge to appeal to local tastes globally. Brief information about IKEA company. IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture such as beds, chairs, 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 (Elmtaryd), and his hometown (Agunnaryd, in Småland, South Sweden). The groups of companies that form IKEA are all controlled by INGKA Holding ., a Dutch corporation, which in turn is controlled by a…show more content…
Today, each company use innovation as primary strategy. IKEA manufactures modern and styles product. It is innovation strategy. If the company change their product range it will produce standardized products. If IKEA educate consumers and use innovation strategy it will be more profitable and valuable for the company in today changing and challenging business environment. 3. How can consumers' tastes be seen as related to social class? Social class is variable of the demographics segmentation. People in the same social class are approximately equal in terms of their incomes and social status. They work in roughly similar occupations and tend to have similar tastes in music, product, clothes and so on. Consumer's tastes is similar each other in the same social class. For example in low-income class each people want to buy traditional and conventional product but in middle-income class people want to buy modern and styles products. 4. How can IKEA's market driving strategy across markets be seen from this perspective on differing consumer tastes? There are a lot of strategy of the company that create perspective to differing consumer tastes. The company use standardization and adaptation strategy. The adaptation strategy is used to differing consumer tastes. The IKEA catalogue is standardized globally but does carry some local adaptations which create some difference in consumer tastes. IKEA

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