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Team 4 Brand Audit BUSA 522
Transcript of Team 4 Brand Audit BUSA 522
What Brand do these images make you think of?
IKEA's Brand Position
Fun fact: More than 50% of respondents spend between $100-$500 when they visit IKEA
IKEA's Brand Inventory
Fun fact: When asked what does IKEA offer other than furniture, 55% of respondents answered "food"
IKEA's Brand Exploratory
Fun Fact: 72% of our respondents were between the ages of 20-39
Did you guess
Fun fact: when asked to name a furniture company more than 50% of our respondents named IKEA
IKEA's Brand Strategy
Fun fact: more than 50% of our respondents named IKEA when asked to think of a furniture company!
Fun Fact: 33% of respondents shop at IKEA more than once per year
Fun Fact: 86% of respondents would recommend IKEA to friends and family
What we are doing
Who we are doing it for
Why we are doing it
How we are doing it
Where it takes place
When it takes place
Best Cost Provider
IKEA provides their customers with the best value for money spent.
You do your part, we'll do ours, together we save money (IKEA, 2014)
Products and Services
Home & Office Furnishings
Kitchen Cabinetry & Fixtures
Interior Decor items
Delivery & Assembly
Food products and services
95% of respondents identified IKEA as an affordable brand
86% correspond functionality to the IKEA brand
96% believe that IKEA provides good value for their money
88% will shop there again
The Bad...and the Ugly
Best Cost Leadership
More affordable than competition
Value added through reduced costs
Quality, well designed products
1. Educate consumers on product quality
Product demonstrations: in-store, at events, in advertisements
IKEA is doing well, but there is always room for improvement
Based on Jim Harvey's speech structures
Affordable, well-designed, innovative home furnishings
Price conscious consumers ("the many people")
Brand Position Statement
Competitive Brand Profile
To provide an everyday better life for the many people (IKEA, 2014)
Communication and Action
Image Courtesy of IKEA Calgary website, 2014
Only 7% of respondents associated IKEA with high quality
12% considered IKEA a sustainable brand
Only 2% of responses indicated an association with IKEA and charitable
2. Generate an Advertising campaign focused on sustainable and charitable accomplishments
Consider the 5Ms
we look forward to your comments!