IKEA Case Study
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About Case Study
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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.
PROS OF IKEA’S CORE MARKETING STRATEGY
- Ideal Distribution
- Accurate Promotion
- Innovative Advertising
- Low Price
- Market Target
- Market Segmentation
CONS OF IKEA’S CORE MARKETING STRATEGY
- Faux Products
- Local Competitions
RISKS OF IKEA’S CORE MARKETING STRATEGY
- Change in Consumer Preferences
- Keeping Up With the Volatile Market Trends
- The Right Balance Between IKEA’S Old and New Products
- Expanding Numerous Branches Overseas
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They can help you explore the internal and external environment of the company in the form of SWOT analysis, PESTLE analysis, value-chain analysis, and other models of strategic business analysis.
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