Ikea: Building A Global Brand
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Ikea: Building A Global Brand

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    Ikea: Building A Global Brand Ikea: Building A Global Brand Presentation Transcript

    • Building a Global Brand… Nina Beinart, Greg Bodenlos, Ranu Rajkarnikar, Dan Silverman
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • INTERNATIONAL HISTORY • Founded IKEA in 1943 in Sweden • First store openings outside Scandinavian territory in 1973 (SUI) and 1974 (GER) • First U.S. opening in 1985 (Philadelphia) • UK and HK openings in 1987 • Opened 27 new stores in 2007 in 7 regions FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • GLOBAL REACH FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • IKEA’S KEYS TO SUCCESS • Democratic Design • Vertical Integration • Strong Brand Image FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • DEMOCRATIC DESIGN • Offer a wide range of home furnishings of good design and functionality • Balance of form, functionality, and low price • The price tag is “designed” first FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • VERTICAL INTEGRATION • 1,300 suppliers and 27 distribution centers • Operations cover every step of production • Enables the group to save cost at each stage • Delivers high-quality furniture at lower prices than its competitors FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • STRONG BRAND IMAGE • Cost-Consciousness • Sensible Design • Unconventionality • Social/Environmental Awareness FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • THE IKEA EXPERIENCE FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • THE IKEA BRAND MESSAGE “IKEA has everything you need to live and make a home” FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • CONSISTENCIES AMONG GLOBAL STRATEGY • Perceived as a value brand, following their “affordable solutions for everyday living” tagline • Image of being hip and modern, has been called “a one-stop sanctuary for coolness” • Maintain Swedish influence • Store experience • Highly anticipated store openings FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • DIFFERENCES AMONG GLOBAL STRATEGY • Advertising through the media – Commercials: “Tidy Up” campaign (France) • http://www.youtube.com/watch?v=MM-Xz7W5SBM – Winter Sale (USA) • http://www.youtube.com/watch?v=eTOVaG36xJE • Adapting products to national markets FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • NON-TRADITIONAL MARKETING • PR Stunts and “Guerrilla Marketing” – Used to promote new campaigns “Everyday Fabulous at IKEA” FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • NON-TRADITIONAL MARKETING • PR Stunts and “Guerrilla Marketing” – Campaign promotes IKEA making everyday things “fabulous” •This tactic puts their promise into action FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • NON-TRADITIONAL MARKETING • PR Stunts and “Guerrilla Marketing” – Often used to promote new store openings FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • NON-TRADITIONAL MARKETING • PR Stunts and “Guerrilla Marketing” – Very interactive, unusual, and memorable – Geared towards young hip crowd FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • NON-TRADITIONAL MARKETING • PR Stunts and “Guerrilla Marketing” – Tailored to different nations •Europeans often use balconies for storage •This makes the brand more relevant to its audience FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • NON-TRADITIONAL MARKETING • PR Stunts and “Guerrilla Marketing” – Japanese value design and cleanliness FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • LOCATION STRATEGY • Entering markets where suppliers are readily available • “Supply is the bottleneck” • Focus on China (Asia overall) as an emerging market FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • ROADMAP FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
    • DISCUSSION QUESTIONS 1. For the future, as IKEA expands further into new markets, will it be more beneficial for the brand to stick to a consistent strategy, or to adapt more to local market needs? 2. What do you think of IKEA’s non-traditional approaches to its marketing strategies? What are the potential risks associated with these bold initiatives within the global market? 3. How will IKEA as a brand appeal to its current customers as they grow older? Would it make sense to extend the brand towards a more upscale product line, or would this alienate its current customers? FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS