COMPANY PROFILE Ikea Group REFERENCE CODE: 6878C795-4BCB-4C85-A319-6F33C508FD80 PUBLICATION DATE: 14 Aug 2014 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED. Ikea Group TABLE OF CONTENTS TABLE OF CONTENTS Company Overview..............................................................................................3 Key Facts.....................................................................................
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Strengths * IKEA has maintained long-term partnerships with its suppliers. This ensures that the company has access to high-quality materials at reasonable prices. * IKEA has a global reach * IKEA provides designer furniture at lower costs. * IKEA enjoys economies of scale. * Highly focussed on quality. * IKEA’s flat packaging reduces costs and makes it easier for customers to transport * The company culture matches its external image of cost saving. * Strong in-store
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but had to assemble and collect the furniture from stores. • Standardization of products ignored the different tastes and preferences of the US market and the way they purchased furniture. • Despite being and international brand, majority of IKEA stores are based in Europe and the balance across North America, Asia and Australia OPPORTUNITIES THREATS • Movement from an international to global status through more expansions in North America and Asia and Australia • Adoption of a polycentric
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SWOT analysis Strengths * Strong global brand name * Offers a wide range of products which are cheap and affordable * Low cost * Fast delivery * Large network of suppliers – 2,300 suppliers in 67 countries * Good bargaining power with suppliers: the suppliers had long term contracts, received technical advice and leased equipment, and in return, IKEA gained exclusive contracts and low prices. This helped IKEA maintain its cost leadership position. * Synergy with suppliers:
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HISTORY IKEA was founded in 1943 by Ingvar Kamprad. Its first store was opened in 1958 in Almhult, Sweden and its flagship store opened in Stockholm in 1965. By 1965, IKEA was a well loved household name in the home of many Swedes. The company’s corporate slogan was “‘Low price with meaning’” (Moon, 2008, p. 24). Its main objective was to challenge the status quo by producing a good product at a low price with the development of innovative and cost-efficient methods. Beginning in 1969, IKEA began
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SWOT Analysis Ikea. Strengths IKEA is certainly an environmentally friendly business with a keen focus upon sustainability. In years gone by the company had been accused of encouraging wastefulness since it made a very large numbers of furniture products at low prices. As part of an integrated public relations campaign - IKEA now focuses on sustainability and made it an underpinning principle of its business philosophy. In 2011 IKEA has the enviable record of recycling more than 85% of the packaging
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Case Study on IKEA Executive Summary The case study of IKEA has been read, analyzed; and the findings are presented in the report as required. The goal of the report was to analyze the case study of IKEA and then to present the findings as well as performing some tasks that are required in this report. Firstly, some terms that are closely associated with marketing has been described and analyzed. In addition to that, those terms are also discussed in relation with
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Success Factors of IKEA 1 The Key Success Factors of IKEA Advanced English Writing 2 Abstract Taking advantage of three mayor cost-cutting strategies, IKEA has been able to maximize its profit and to succeed internationally with its concept. The self-service and do-it-yourself approach to selling furniture is one of the critical success factors IKEA uses to save costs and increase profit margins. Furthermore, it has a complicated company structure, partially in order to avoid taxes,
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INTRODUCTION The reason behind choosing the IKEA is because IKEA is one of the world’s most successful retailers. IKEA is a global furniture brand inspired by the egalitarian society of its Swedish heritage and appears to the public to be forever Swedish. It expands its retail stores all over the world including North American, European Middle East and Asian countries but also spreads a kind of its own a highly strong business culture and values with a strong Swedish image to other countries through
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Product and Brand Management Ikea Assignment 1 Is Ikea a successful global brand? Why has it been successful? Ikea is a very successful global brand, not because it has 226 stores in Europe, Asia, Australia and the United States with 410 million shoppers a year, not because other global brand like Wal-mart stumbled in Brazil, Germany and Japan but for Ikea’s unique cultural branding that merges the value and fashionable design to ensure the creation of an affordable contemporary household goods
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