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IKEA is a globally known furniture company for its low prices and innovative designs that recognized for its Scandinavian style. It has grown rapidly since it was established in the year 1943.
Today, IKEA is considered to be the largest furniture retailer in the world. IKEA is considered to be the largest furniture retail chain in the world with more than 300 furniture stores functioning in the global market with over 18 stores in UK market only. IKEA’s products range over 9,500 products including home and office furniture along with other accessories. IKEA is popular for sourcing its raw material to be used for their furniture suppliers in Poland and creating their own exhibitions. The IKEA customers have the facility to order their favorite furniture range online through the company’s official website.
1) Target Audience – The target market of IKEA is the middle class. They commit and promote the dream of affordable, contemporary and stylish home furnishing products to the common man.
2) Promotional Techniques – IKEA uses the most effective communication channels of marketing. The company uses both traditional as well digital channels to promote their brand.
In one hand it uses brochure, publications, advertising or public relation campaigns and on the other engage modern customers through Facebook, Twitter, Pinterest, Google plus, etc.
3) Brand Localization – The mantra behind the success of IKEA is their astute understanding of the difference of people’s style, taste, and preferences that vary in different markets and cultures.
4) CSR and Sustainability – IKEA invests in CSR and sustainability in order to create a positive image for them and to do good for the planet as well. In this effort they have partnered up with “Save The Children” to protect the basic right of children and prevent child labor and promote children welfare on a global scale.
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