Swot Analysis Of Ikea Furniture Market

814 WordsJul 24, 20154 Pages
Competitor’s analysis Analyzing current global furniture market, it will be said that the top big global competitors for the company will be IKEA and Ashley furniture companies. SWOT of IKEA furniture Strength • Brand reputation and market presence • Supply chain integration • Customer Knowledge • Constantly using innovations to drive costs down • Diversified product portfolio Weaknesses  Decreasing products quality  Negative publicity  Standard products Opportunities o Expansion to growing grocery market o Growing online sales o Expansion into developing economies Threats  Growth of average consumer income  Great increase in market competition Evaluating SWOT of IKEA, the company has developed a strong strength in the industry through effective global marketing strategy that would assist, and continue to help them gain more grounds globally as indicated in the outlined strength. The company has great future opportunities for business expansions in the market as well as developing nations; having said that, their weak point is quality, which is a concern as customers can discouraged because of poor quality, poor relationship with employees can be detrimental to efficiency, their competitive market strategy is low cost product, but create standardized products as such will attract

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