Marketing Strategy at Ikea

2750 Words11 Pages
Synopsis

The case study is to discuss about the different strategy used by IKEA to approach their customers. It is also talking about the localization concept from a global company based on the cultural demand from different countries worldwide. IKEA is also famous for their less expensive furniture, has some other strategies to “reach” the customers based on their needs. 4 Ps concept plays a very important role on IKEA’s success besides the way of shopping which is differ from all other their competitor.

Company Background

1920s
At the age of five Ingvar Kamprad starts selling matches to his next door neighbors and by the time he is seven, he starts selling to further neighborhood, using his bicycle. He buy matches in huge
…show more content…
Prioritizing sustainability drives further innovation and development. Managing resources with new ways to do things and developing skill set and expertise are very important in driving IKEA’s business.

As a company with low price product must be a low cost company which include earth’s limited resources usage in a good manner. IKEA has made tremendous and valuable contribution across the world. Forests of Siberia, cotton fields of India, homes in New York, Lisbon and Shanghai are good examples of sustainability.

IKEA blue bags are big, sturdy and sustainable. Out with plastic bags! In with reusable bags!

SWOT analysis

IKEAs objectives are easily achieved via their SWOT analysis and it is a strategic planning tool too. It helps the business to focus on key issues. SWOT is the first step of planning based on the Strengths, Weaknesses, Opportunities and Threats involved in a business.

Strengths and weaknesses are internal aspects and it is within the control of the business. They may refer to aspects of marketing, finance, manufacturing or organization. Opportunities and threats are external factors and they are outside the control of the business. These may include the environment, the economic situation, social changes or technological advances, such as the internet.

Strengths

Strengths could include a company 's specialist marketing expertise or its location. IKEA 's

More about Marketing Strategy at Ikea

Get Access