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IKEA MARKETING

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by

Choong Hwa Lee

on 28 April 2014

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Transcript of IKEA MARKETING

Business Analytical Report
Executive Summary
IKEA
SWOT Analysis
Marketing Strategy
Place
Product
Promotion
well designed functional home furnishing product

IKEA web site and see information and then order
Price
reasonable and affordable prices









use large volumes and flat packaging to cut cost.

they are outside city centers to keep price even low.
virtual reality
TV/Magazine
Lee Choonghwa
- Ingvar Kamprad(I, K)
+ Elmtaryd and Agunnaryd(E,A) = IKEA


- Founded in Sweden in1943


- World's largest and successful furniture company

- Offers a wide range of well-designed, functional home furnishing products at low prices
IKEA stores around the world
Strength
Weakness
Opportunity
Threat
Customer knowledge

Constantly using innovations to drive costs down

Supply chain integration

Brand reputation and market presence
Negative publicity

Decreasing quality

Standard products
Further expansion into developing economies

Growing online sales
Intensifying competition

Growth of average consumer income
- Large & unique store
- Selling process mostly depends on show rooms
- Supervised play area for children
- IKEA restaurant cafe

- IKEA Facebook Marketing Strategy
Showroom + Photo-tagging

- online competition

‘tagging’ on facebook.

IKEA have posted showroom pictures.
the first to tag their name on
any item, would win it!
Competition
World’s largest and the most successful
home furnishing retailer

Founded by Ingvar Kamprad in Sweden in 1943

IKEA stores are operating in 42 countries
around the world (as of 31 August 2013),
with 330 stores and 154,000 workers.
Vision:
“To create a better everyday life for the many people”

Mission:
“To offer 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”

Market Positioning:
“Your partner is better living. We do our part, you do yours. Together we save money”

IKEA retailing continued to grow and expand
as of 2013. 8. 31
operating in 42 countries around the world
775 million times IKEA store visits during the year
EUR 29.2 billion in sales turnover = almost $ 404 billion
9.7 million application downloads
1.2 billion IKEA website visits
Online advertisement
Catalog
Billboard
Situation Analysis
Industry
Furniture Industry

Companies in this industry manufacture products
such as wood and metal household, office, and institutional furniture


i. Technological advances
Modern technology has made furniture more accessible to the general public

ii. Trends
Furniture buyers are younger, and women, with more buying power than ever, are more involved in choosing and buying furniture.
Pottery Barn is an American-based home furnishing store chain with retail stores in the United States, Canada, Puerto Rico and Australia.
Pottery Barn
- Sells casual home furnishings and accessories

- Pottery Barn Kids chain operates about 112 retail
stores and a separate website

- Brands PBteen (launched in 2003) and
Pottery Barn Bed and Bath sell merchandise
through catalogs and their websites only.
Pier 1 imports
Pier 1 Imports Inc. is a Fort Worth, Texas–based retailer specializing in imported home furnishings and decor, particularly furniture, table-top items, decorative accessories, and seasonal decor.
- 0ffers a wide selection of indoor and outdoor furniture,
lamps, vases, baskets, ceramics, dinnerware, candles,
and other decorative accessories.

- Allows shoppers to order and reserve items online for
pick up and payment in its stores
Pottery Barn and Pier 1 Imports are the ones that solely revolve around furniture and home decor like IKEA,


however its pricing is much higher and not for the more price-conscious consumer.
Target Market
- Very broad.
all ages, sexes, geographic location, all who have one thing in common

that is the price preference
The current target audience of IKEA

- young individuals
who have a need for stylish and fashionable furniture
and household accessories at a low cost.

- 23-35 year old women
“women in the US control 73% of household spending
and take responsibility for 91% of household tasks.”
(2008 study stated)

Product/ Service
- constructed its store how houses really exist
Marketing Objectives
“To create a better everyday life for the many people”

- cheap and affordable products for the customers

- to produce right product for the right consumer

- to have a positive impact on people and the environment
see product in the show rooms

go web site and see product
- TV advertisement
- Online catalog
Action Program (Tactics)
TV Advertising
Thank you :D
Full transcript