Ikea Marketing Analysis : Ikea

3424 WordsNov 27, 201414 Pages
Warwick Business School University of Warwick IB 2090 – IKEA Marketing Analysis Individual Assessment 1 Due: 27 November 2014 IKEA Marketing Analysis Student Number: 1323589 All the work contained within is my own unaided effort and conforms to the University’s guidelines on plagiarism. IKEA’s vision is to create a better everyday life for the many people. Since its inception, the Swedish furniture company has provided an extensive range of well-designed and functional home furnishing at affordable prices for the masses. The company has been highly successful since its origin in 1943 as a mail order catalogue featuring locally produced furniture. Its core-retailing concept is based on the notion of choice – from self-service by the customers to personal pick-up of the furniture and self-assembly of the product. This concept is unique to IKEA, as European customers (although not unaccustomed to DIY) have traditionally frequented furniture stores that design and custom-make products before having it pre-assembled and delivered. Since the opening of its first UK store in 1987, IKEA has emerged as an iconic brand, its product lines rapidly becoming a fixture in the nation’s homes. The UK is one of IKEA’s major markets, with sales figures up 11.3% to £1.4bn in the last 12 months (Wallace, 2014). IKEA has further strengthened market leader position by achieving increased market share in the UK from 0.2% to 6.4% in a year. (IKEA, 2013)

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