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Review: Marketing Excellence-IKEA
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- 3. •Established in 1943 •Eventually,the company grew into a retail titan in home furnishing. •Is referred worldwide as the “quintessential cult brand”
- 4. Over the yearsa unique IKEA culture and set of values have developed from the roots in Sweden.
- 5. • IKEA ensurelong-term success and keep the IKEA Concept successful over time in an ever- changing world. •By offering proven methods and solutions to IKEA retailers worldwide and enabling the long- term fulfilment of business idea.
- 8. •The company reducesthe prices across its products annually. •It sources its products from multiple companies all over the world. •It excel in reducing the land cost and the keep the taxes low. •All the items are boxed and requires customers to assemble them at home to keep low prices.
- 9. BLUE & YELLOW: Youprobably recognise the most important visual elements of the IKEA Concept: the IKEA logo and the IKEA word mark.
- 10. A culture of hearts: TheIKEA culture is hard to describe but easy to embrace. It’s a culture of enthusiasm, togetherness and willpower. The IKEA culture believes to humbly unite in work to create a better everyday life for the many people.
- 20. IKEA has evolvedas the largest furniture retailer in the world.
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- 47. IKEA’s marketing strategyexcel in analysing the consumer markets and that’s the reason how it has grown so strong in its market share and building its brand. Thus the company has evolved into the largest furniture retailer.
- 48. • Largest furnitureretailer in the world. • A Swedish based country • Believes to create a better everyday life for many consumers • Most of the stores are located at a good distance from the city centres. • The main strategy is to create low prices for almost all its products. • It cuts down prices annually • Today, it has more than 300 stores in 38 counties and is still rising and growing.
- 49. •IKEA’s websites: http://www.ikea.com/ •Imagesfrom istockphotos.com •http://www.bloomberg.com/bw/stories/2005-11-13/ikea •http://www.theguardian.com/lifeandstyle/2008/feb/04/shoppi ng.retail •Use of Google images •Reference text from the book – Marketing Management by Philip Kotler, a south Asian perspective. •IKEA’s commercial video downloaded from YouTube.
- 50. Marketing Professor 2013-Present MarketingProfessor 2009-2013 Ph.D. and M.S. (Marketing) 2003 - 2009 Undergraduate student at IIT Bombay Summer Intern under Prof. Sameer Mathur
Editor's Notes
- #9 IKEA is world renowned for combining competitive low pricing with high quality products, within an appealing store setting (Reynolds, 1988). In fact, IKEA’s corporate slogan is “Low price with meaning”, and Vision Statement is “To create a better everyday life for the many people” (IKEA Group, 2011; Moon, 2004). In other words, IKEA’s main driving force is to provide customers with trendy functional products with minimalist lines, that are manufactured cost-efficiently with suppliers, and priced low enough so that most people can afford them
- #12 With hundreds of pages of ideas, inspiration, solutions and products, the IKEA catalogue shows how the IKEA product range contributes to a better everyday life. It is filled with solutions that answer people’s dreams and needs. Still, it shows only part of what is offered in IKEA stores. The IKEA catalogue was first distributed to consumers in 1951. Today, more than 60 years later, it is distributed free of charge to more than 200 million households around the world. Today’s IKEA catalogue is complemented with digital content that gives users a richer experience of the solutions and provides more in-depth home furnishing knowledge. Find the latest IKEA catalogue edition here.
- #16 Another place to explore the IKEA product range is the website, where you can get all the information and inspiration you want. You can also see what is available at your local IKEA store. www.IKEA.com
- #21 IKEA has evolevd into the largest