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part of the company’s continuous global expansion strategy, IKEA successfully managed to set up a store outlet in Jeddah, Saudi Arabia and Kuala Lumpur, Malaysia back in 1983 and 1996 respectively (IKEA, 2008c). With the active assistance of International Al Futtain Group – Dubai-based business conglomerate of IKEA, the business is currently planning to open a store outlet within the jurisdiction of the Sultanate of Oman over the next three to four years from now (Business Intelligence Middle East, 2007).
In general, Oman is well-known for its fishing and oil industry (Nations Encyclopedia, 2008a; U.S. Department of State, 2008). Since Malaysia is one of the world-class exporters of high quality rattan-made furniture including home décor items (One2furniure, 2008; Rinaat Cane, 2008), it is best on the part of IKEA to promote the selling of these furniture item throughout the entire market in Oman. With regards to IKEA’s expansion project in Oman, an international marketing plan which includes the international marketing objective(s), a thorough market situational analysis, a marketing strategy, implementation and control will be provided in this study as part of making the introduction of rattan-made furniture items in Oman successful.
The corporate objective is to be able to successfully penetrate the company’s target market in Oman by effectively promoting the benefits of using rattan-made furniture over the use of other alternative materials like glass, wood, plastic, and metal. As part of the company’s international marketing objective(s), IKEA should:
1. Effectively promote the importance and benefits of using rattan-made furniture items such as living room sets, dining room sets, bedroom sets, cabinets, and office furniture over the typical wooden, plastic, or metallic home products through the use of appropriate marketing communication techniques (i.e. environmental impact and the excellent craftsmanship in Malaysia);
PEST1 framework is often
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The advent of globalization, followed by information age, has expanded and to an extent, blurred the geographical boundaries, in the process, opening up newer avenues for global competitors to co-exist alongside the local firms. Considering the current corporate climate, it is imperative for corporate leaders to continuously strive to improve their product offerings and range, and offer good quality products to their customer at affordable rates, as compared to their competitors.
II. Competitive Advantages IKEA’s success can be summed up by saying it “provides a one-stop sanctuary for coolness” (BusinessWeek). Specifically, IKEA outlets are not just furniture stores, they are gathering spots where families can have a social outing (Normann & Ramirez).
The purpose is to analyze that for what reason the prices are different in different country. Price comparison of IKEA 365 + Gnistra Bread Knife with different economies Source: (IKEA Systems, 2011) Question 1 Are the prices after conversion to U.S. dollars identical?
is of franchise type. Contemporary designs and low prices are the hallmarks of which made IKEA a cult brand globally. Environmental sensitiveness of the company is well recognized by the consumers. The other companies that specialize in Nordic furniture design the in the US, whose prices are comparatively very high are Design Within Reach, Minimalista, Boconcept and Tema.
IKEA, from the very start took a different path and was successful in changing this concept. They decided to respond to the needs of the people with regard to home furnishing across the globe. People with different choices, dreams, tastes, needs, aspirations and budgets wanted to modify their home and develop them to make their everyday life better.
Apart from these quality features, Oman Air is also valued highly for its overall business professionalism and is immensely recommended by its loyal stakeholders for its regularity and service brilliance among others. Oman Air began its journey in the year 1993 (Oman Air, 2012).
Based on consumer feedback, IKEA introduced American style furniture with core IKEA values such as easy-to-assemble, portable etc. Secondly, co-workers at IKEA stores are trained in such a way that they provide complete knowledge to
The founder of the business which is known as Ingvar Kamprad is old enough not to run the business, but he steps in not to run it but on how the company is run. Apart from giving advice to his founded company, he is believed to be the richest is his country. The company was founded in 1943, and it is based in Sweden.
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