Strategy Recommendation For An Individual Essay

1625 Words Jul 4th, 2015 7 Pages
STRATEGY RECOMMENDATION FOR IKEA- INDIVIDUAL
Background:
IKEA is a multinational group of companies and the world’s best furniture retailer, as of January 2008. But as a company, it has its own weaknesses to concentrate on and use its opportunities to compete with the competitors. When we consider the weaknesses of IKEA, it has relatively few locations. This creates the brand awareness and the IKEA experience only to the certain groups of the people in the society but not for all. IKEA stores should be opened in all major and highly populated cities. For example, Coca-Cola has been successful in its retailing business and brand recognition because it has outlets all over the world. So I would like to suggest, increase in the number of IKEA stores improves the retailing business and brand recognition as well.
Technological factors are one of the important factors to be considered by IKEA from PEST analysis. IKEA should use technology advances to give a very tight competition to the competitors and to increase its pace in retailing business. When you walk into an IKEA store, there will be a sales person to compare between the products and offer the best suitable product for the customer. Whereas, no guidance to the online customers regarding the quality and comparison between the products. Increase in people using internet and mobile technology, making it easier to order online. So I would like to suggest, there should be a public opinion and rating system both online and…
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