2. IKEA
• Business-to-Consumer, Fortune 500 Multinational,
Product
• “At IKEA our vision is to create a better everyday
life for the many people. Our business idea supports
this vision by offering a wide range of well-
designed, functional home furnishing products at
prices so low that as many people as possible will
be able to afford them.” (1)
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3. WHAT THE MISSION STATEMENT CONVEYS
• Customer Focus
– Price
– Function/Design
• Value Creation
– Low Price
– Mass Sales
• Market Scope
– Everyone and Everywhere
• Core Competencies
– Manufacturing/Distribution
– Design/Innovation
• Guiding Values
– Increase people’s quality of
life
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4. “A BETTER EVERYDAY LIFE…”
IKEA i Verkligheten = IKEA in Reality
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5. “…FOR THE MANY PEOPLE.”
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6. OUR IDEAL MISSION STATEMENT
• Improvements & Inspiration in
the Mission Statement
– Being more specific about the
target group
– Increase the focus on the
quality of the products
– Emphasize the actions towards
sustainability
– Adjust the statement to
incorporate other product lines
such as bathrobes, office
furnishings
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7. ALMOST THERE…
Geographic & Cultural expansion to
reach “everyone everywhere”
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8. STRUMPAN
• Use competencies of
functional, design, mass
production
• Current textile
manufacturing capabilities
• Wool, colors (single, multi),
reversible, everyday, dress,
sock slipper, baby socks
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1. http://www.ikea.com/ms/en_US/about_ikea/the_ikea_way/our_business_idea/index.html Name, Department
Name, Department
TV-commercials: Focused on everyday life, being at home – in sync with their mission statement Video credit: “ Ikea i verkligheten! Hemma hos Hennings.” Uploaded by ikeareklam, http://youtu.be/3rU0NIgBkMw Name, Department
Catalogues - consume 70% of the marketing budget annually 1 . More than 208 million copies annually. This catalogue is available to everyone in line with their mission statement. 30 languages, 59 editions 2 . Exhibitions in the store: give inspiration to the customer to help them visualize how they can furnish their homes which would improve the quality of their lives (ex solutions for small apartment) Builds rapport with people. 1 “Student info,” Ikea.com – archived from Jun 22, 2004 - http://www.ikea.com/ms/en_GB/about_ikea/press_room/student_info.html 2 2011 Ikea Summary Name, Department
Does quality vary from product to product? Do people think “quality” when they think of IKEA? Sustainability measures: 70-80% of Ikea’s energy will be from renewable energy sources by 2015. 16.2% of all wood is Forest Stewardship Council-certified. (2011 Ikea Summary) OGLA chair – made from 100% post-consumer plastic waste. Name, Department
To accomplish our strategic goal of reaching everyone everywhere, we need to: Make products that are of a higher quality. Expansion into other continents, countries. Really just Europe, North America, Asia. Cooperation with local designers. Using foreign cultural elements in different regions. Photo Credit: 2011 Ikea Summary Name, Department
