Ikea Case Study

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Ikea Case Study

  1. 1. “ Our vision is to create a better everyday life fore the many people. Our business idea is to offer a wide range of well- designed, functional, home furnishing products at prices so low that as many people as possible can ” afford them.Marketing Strategy and PlanningAkshar Anu| Lionel Fabre |Edwina Lambourdiere |Estelle Pellegrino | Pierre Urier-Cattoire
  2. 2. Key Competitive Advantages• Low Cost Operating Philosophy • Without Compromising on Customer Value• High Product Diversity and Standardization • Good Design and Affordable • Environmental Friendly• Unique Corporate Structure • Independent and Non-Profit Parent Organization• Brand Image & Awareness • ‘The Ikea Experience’ 2
  3. 3. IKEA’s USP• Stylish Design• Image built on Value • Cost/Quality Ratio • Innovative and Modern Design • DIY ApproachSustainability Ideas• Continuous Innovation and Promotion• Increase the scope of CSR • Donations for Charities • Help the ‘Poor’ 3
  4. 4. U.S. Expansion Strategy• Maintain Low Cost Structure• Introduce Partial Customization • “Overwhelming Individualization”• Adapt and Increase Promotions • Online, Social Media (Facebook, Twitter) • Print (Magazine, Newspapers) • Outdoor, T.V. • Local Store Events • Nationalist Tendencies• Increase Physical Presence • Include distribution Networks 4
  5. 5. U.S. Strategy Alternatives• Make a Digital Catalogue (In store: Screens, Tablets)• Hire a designer for U.S. Sensibilities• Increase on-line buying choices• Continuously Introduce Newer Range• Make a balance between DIY and Personalization• Flat Organization structure (Anti-bureaucracy)• Adapt the Amenities • Restaurants etc. • Culinary Events• Increase the role of ‘Sales-men’ • Inside and Outside, Personal Attention, Assembling 5
  6. 6. The Future…If Ikea follows the suggested strategies, we can hope to find:• Increased footfalls and sales• Multiple Stores and Delivery Channels in the US • Increase Franchising, CRM and IS• Increased acceptance and “Brand Equity”For the U.S. it is more likely that IKEA will have increased prices whichwill be essential to maintain profitability owing to increasedpersonalization and other costs.Sustainable? Yes!, if:They keep a focus on their vision and Listen and respond to feedback 6
  7. 7. • Low-cost Structure • Economic conditions• Corporate Culture • Demand for convenience• Added Amenities • Popularity of stylish, but• Brand Image sustainable, products• Focus On Sustainability S O W T • Competition• Limited Customization • Changing Customer• Limited Promotional Needs/Tastes Expenditures • Mature Market• Weak Online Support Preferences 7

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