Nobody downloaded yet

The IKEA Marketing Strategy - Case Study Example

Comments (0) Cite this document
This case study "The Red Ocean Marketing Strategy" highlights that business strategy is basically a plan of action is which helps companies achieve its long-term or short-term objectives. The companies which have succeeded in today's globalized corporate world have a sound corporate strategy in place…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful

Extract of sample "The IKEA Marketing Strategy"

Download file to see previous pages Kim and Mauborgne (2005, p. 25) state ‘The strategy canvas is both a diagnostic and an action framework for building a compelling blue ocean strategy. It serves two purposes. First, it captures the current state of play in the known market space. This allows you to understand where the competition is currently investing, the factors the industry currently competes on in products, service, and delivery, and what customers receive from the existing competitive offerings on the market. The horizontal axis captures the range of factors the industry competes on and invests in.’
Therefore a successful business strategy incorporates aspects such as extensive analysis of the market and takes notice of company and competitor data. A business strategy which is realistic and recognizes the required scale of development, most importantly a strategy based on business trends which can be implemented by the personnel associated with the company leads to business success.
Corporate giants such as IKEA, Megabus and Cirque du Soleil are market leaders in their own fields and have successfully expanded the business by taking their products to newer sectors and newer geographic locations. They have also been successful by offering a new range of products and services to their existent clientele. Companies such as these often use business strategies for moving into adjacent markets. Market expansion is one of the key growth elements of business strategy, which helps the business to generate excess returns, improve retention of employees and ensure their objectives are met. Paul Fifield (2007, p. 217) quotes ‘Typically with relationships, it will take as long to fix as it took to be messed up in the first place. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(The IKEA Marketing Strategy Case Study Example | Topics and Well Written Essays - 6250 words, n.d.)
The IKEA Marketing Strategy Case Study Example | Topics and Well Written Essays - 6250 words. Retrieved from
(The IKEA Marketing Strategy Case Study Example | Topics and Well Written Essays - 6250 Words)
The IKEA Marketing Strategy Case Study Example | Topics and Well Written Essays - 6250 Words.
“The IKEA Marketing Strategy Case Study Example | Topics and Well Written Essays - 6250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Business strategy of IKEA

...willingness to innovate and bring up new solutions. Opportunities: The Asia Pacific Market: IKEA has only a 3 % share in the Asia Pacific market. It can look towards expanding its operations in the long run to cater to this market. Countering the recession: IKEAs strategy, post recession, could serve to leverage the downturn and turn its brand into the brand that was available in the hour of need. Not only does the affordability of the brand help sustain the business, but it can serve to enhance brand loyalty at an unprecedented pace. Threats: New Entrants: The threat of new entrants is always present no matter how entrenched the...
8 Pages(2000 words)Essay

IKEA Marketing Plan

...situated at the center of its business strategy. In fact, it has launched a new plan for sustainability that would take the firm through 2015. This includes issues on economy, society and environment. IKEA SWOT Analysis IKEA makes use of SWOT analysis as a strategic tool for planning that enables it to achieve its goals. This will serve as guide that will help it focus on the key issues at hand. Basically, strengths and weaknesses are considered to be internal aspects and are within the company’s control. This could refer to such aspects in business as finance, marketing, organization or manufacturing. On the other hand, opportunities and threats are considered to be...
8 Pages(2000 words)Research Paper

IKEA Internationalization Strategy

...IKEA Internationalization Strategy Today IKEA stands as one of the highly successful mass-market retailers. The Sweden company holds exactly 230 extravagant home furnishing stores in about 33 countries.The internationalization of IKEA is basically the root cause for the expansion of the business to the extent at which it stands presently. However the Sweden based furnishing house was not consistently the best retailer in the history of furnishing, it was after the incorporation of some effective internationalization strategies that the founder Ingvar Kamprad was able to bring IKEA among the top notch furnitures selling...
3 Pages(750 words)Essay

Strategy Context Report : IKEA

...motive of the strategic group and competitor analysis would be to identify the company’s current market and strategic position in the market. The author of the study has focused on the current strategic issues faced by the company with respect to the current situation of the furniture industry. Thus, IKEA could not only enhance its business model but also formulate varied strategies to improve the existing business systems. The analysis would also ensure the increase in the organizational outcome along with its brand restoration. Table of Contents Executive Summary 2 Introduction 5 Industry Overview 5 Scene Setting of UK Furniture Industry 5 UK Furniture Industry Size &...
12 Pages(3000 words)Essay

Business strategy IKEA group

...its global operations within this region (Milnikiewicz, 2006). IKEA can also decide to have well written business plans and also not hesitate to change them when required. Suggested Business Strategies for IKEA The report will now use Ansoff's matrix to explain strategies which could be available to IKEA in the future. Ansoff's matrix helps the marketers who want to grow by offering strategic choices to achieve their goals. This matrix has four sections: - (Moreno and Casillas, 2008) See Figure 1 in the Appendices section. Market Penetration- Companies make the strategic decision to market their...
8 Pages(2000 words)Case Study

Business Strategy - IKEA

...operations and performance figures against a set of six models that will attempt to answer a variety of questions. The current strategic position will be ascertained by using the Porters generic strategies and the Bowman’s clock models. The key external drivers of change by which the company is constantly influenced will be identified and evaluated with the help of PEST analysis as well as Porter’s 5 forces. The manner and extent to which IKEA adds value to the brand and the market shall be ascertained by making use of Value chain and Resource audit. Q1. IKEA’s strategic position Porter’s generic strategies are a valuable tool in the field of strategic...
12 Pages(3000 words)Essay

Current Strategy of Ikea

...IKEAs Current Strategies Introduction IKEA has undergone an immense transformation from the time of its inception. The growth and expansion of IKEA can be traced from the various strategies that the company has instituted as a measure of staying competitive in the market. The furnishing company has unique Scandinavian furniture that is found in its various stores spread on a planetary scale. Currently, the company has operations in almost 42 countries with close to 400 hundred million customers visiting the stores annually. Though IKEA is a leading company dealing with furniture globally, its current...
2 Pages(500 words)Essay

Strategy Plan for Ikea penetrate the whole world. Inorder to survive the threat of their competitors like Wallmarts and Pop shops Ikea has been doing things differently, something has earned the business the benefit of competitive advantage. Ikea has embraced the nature of offering low priced quality goods, which can be purchased by customers from any class of life, low, middle and upper. Differentiation strategy has been higly embraced by Ikea, where the company make its customers feel that they are being offered quality goods at affordable charges. IKEA has been doing quite in the market against his competitors (Dunne and Mujtaba 1).. The above graph...
3 Pages(750 words)Research Paper

IKEA UK Marketing Analysis

...I.Political 10 II.Economical 10 III.Social 10 IV.Technological 11 V.Environmental 11 VI.Legal 11 10.Ansof Matrix Model 11 11.Conclusion 12 12.Recommendations 12 13.Works Cited 14 1. Executive Summary This report presents a marketing analysis for the company IKEA in the UK. IKEA is a top international company that specializes in furniture and furnishings. This company aims at retaining its position and competitiveness. However, in the current harsh and challenging global business environment, companies have to be more innovative with effective strategies in order to survive. Performing a marketing analysis is important for any company in order...
10 Pages(2500 words)Essay

Internationalization Strategy at IKEA

...Internationalization Strategy at IKEA Introduction The world understands IKEA as a company that offers products at low prices that include among others innovatively designed furniture. This case study evaluates how IKEA adapted its international strategies to penetrate the global market in the process becoming profitable in China, United Kingdom, the United States, and Sweden. The discourse further covers lessons learnt from one market by the company and corrective measures in another part of its market. IKEA is a Swedish giant furniture company founded by Ingvar Kamprad during the early...
8 Pages(2000 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic The IKEA Marketing Strategy for FREE!

Contact Us