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Transcript of Analysing IKEA
• Consider online sales/retail
• Make use of social media to increase awareness
• Offer further discounts (e.g. seasonal discounts)
• Expand to new markets e.g. Asia and Africa
• Make use of catalogues for convenience
1a. What are some of the things IKEA is doing right to reach consumers in different markets?
Located all over the world (increasing international visibility)
Easy access to IKEA (stores located a good distance from city centres, customers generally travel 50 miles round trip)
Affordable pricing and looking after people interests (value for money)
Provide uniform products, but also customise products based on customer preferences (adaptability)
Items come boxed and require own assembling by the customer hence easy transportation of the items
2a. IKEA has essentially changed the way people shop for furniture. Discuss the pros and cons of this strategy
Because of the wide variety of items displayed and the layout of the shop designed in a one way format results in customers seeing everything available. They might therefore end up buying even something that they hadn’t thought about
Convenience for the customer because everything is boxed and they do their own assembling. It makes it easy to transport (on buying and when people move)
Also saving shelf space for other IKEA products and reducing transport costs for the consumer hence resulting in the lower prices
Using unconventional names for their products that people can easily remember (belief is that people remember names better than they do codes)
2b. IKEA has essentially changed the way people shop for furniture. Discuss the pros and cons of this strategy
The size and scale of IKEA sometimes affects the quality standards of their products and therefore negatively affect the view that customers has of them. As such customers will have to pay more attention to the products they are buying
The format of the shop (everything is on floor) can be too overwhelming for the customers such that they may not even know where to start from
Not maximising on the growing technology available for marketing and advertising , so consumers might end up going elsewhere
The fact that that people have to assemble their own items can be problematic for people who are not good at fixing or assembling items
Pearson Education, INC. (2012) Published at Prentice Hall (Lecture Slides)
The Times 100 - www.thetimes100.co.uk, SWOT analysis and sustainable business planning
"SWOT analysis and sustainable business planning: An IKEA Case Study". 2014. The TIMES 100. (Online). Available from: http://businesscasestudies.co.uk/ikea/swot-analysis-and-sustainable-business-planning/introduction.html#axzz2uSMxgGut. <Accessed: 24/02/2014>
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