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Ikea preso

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Transcript

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