Case Analysis<br />Jacob Babcock<br />Jared Kohn<br />Nick McCarthy<br />Mike Russell<br />
IKEA Background<br />Ingvar Kamprad-1943-Sweden<br />Top retailer of furniture, home furnishings, & house wares<br />Stand...
Main Issue<br />As IKEA grows, how do they continue to expand internationally and spread the IKEA concept to as many consu...
IKEA SWOT<br />Strengths<br />Weaknesses<br />Brand Recognition<br />Marketing Strategy<br />Stylish products at mass mark...
IKEA SWOT<br />Opportunities<br />Threats<br />International expansion<br />Introduce smaller stores<br />Product adaptati...
IKEA Alternative Solutions<br />Product adaptation<br /><ul><li>Develop products to meet market/cultural demands</li></ul>...
Analysis of Alternatives<br />Scale 1-5 <br />
Standardization vs. Adaptation<br />Factors encouraging standardization<br />Factors encouraging adaptation<br />Economies...
Recommended Solution<br />Product Adaptation<br />- Focus on developing products that specifically target the market/cultu...
Implementation<br />Conduct foreign market opportunity analysis<br />
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Ikea preso

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Ikea preso

  1. 1. Case Analysis<br />Jacob Babcock<br />Jared Kohn<br />Nick McCarthy<br />Mike Russell<br />
  2. 2. IKEA Background<br />Ingvar Kamprad-1943-Sweden<br />Top retailer of furniture, home furnishings, & house wares<br />Standardized product strategy<br />Cost leadership secured by contract manufacturers<br />
  3. 3. Main Issue<br />As IKEA grows, how do they continue to expand internationally and spread the IKEA concept to as many consumers as possible with the main focus on success in America?<br />
  4. 4. IKEA SWOT<br />Strengths<br />Weaknesses<br />Brand Recognition<br />Marketing Strategy<br />Stylish products at mass market pricing <br />Value-added services<br />- installment, daycare, restaurants, etc.<br />Privately owned (restricts capital)<br />Stores require expansive locations<br />Standardized products<br />
  5. 5. IKEA SWOT<br />Opportunities<br />Threats<br />International expansion<br />Introduce smaller stores<br />Product adaptation <br />(acculturation-Ch. 3)<br />Expanded environmental involvement<br />Competition <br />(direct &indirect)<br />Global regulatory environments<br />- Affects product costs, shipping prices, etc.<br />
  6. 6. IKEA Alternative Solutions<br />Product adaptation<br /><ul><li>Develop products to meet market/cultural demands</li></ul>Introduction of smaller retail outlets<br /><ul><li>Opportunities for franchising</li></ul>Continued focus on GreenTech practices<br />
  7. 7. Analysis of Alternatives<br />Scale 1-5 <br />
  8. 8. Standardization vs. Adaptation<br />Factors encouraging standardization<br />Factors encouraging adaptation<br />Economies of scale in production<br />Economies in marketing<br />Global competition<br />Differing use conditions<br />Government & regulatory influences<br />Differing consumer behavior patterns<br />Local competition<br />True to marketing concept<br />Adapted from exhibit 10.2 <br />
  9. 9. Recommended Solution<br />Product Adaptation<br />- Focus on developing products that specifically target the market/culture they are sold in<br />
  10. 10. Implementation<br />Conduct foreign market opportunity analysis<br />
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