IKEA Invades America Summary of the Facts: Company background * IKEA was founded in 1943 by Ingvar Kamprad as a local catalog company. Initially, the company sold basic household goods at discounted prices. * In 1947, furniture was introduced into the IKEA product range. The furniture was produced by local manufacturers. * In 1951, the first IKEA furniture catalog is published by discontinuing all other products to focus directly on low-priced furniture. * IKEA began
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Case study : How IKEA adapted its strategies to expand & become profitable in China Executive Summary: IKEA is known globally for its low prices and innovatively designed furniture. In China, however, it faced peculiar problems. Its low-price strategy created confusion among aspirational Chinese consumers while local competitors copied its designs. This case study analyses how IKEA adapted its strategies to expand and become profitable in China. It also assesses some lessons the company learnt
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Standardized marketing strategies in retailing? IKEA’s marketing strategies in China, Sweden and the UK Steve Burt University of Stirling Department of Marketing, Institute for Retail Studies STIRLING FK9 4LA, Scotland, the UK. Ulf Johansson* *Contact author Department of Business Administration Lund University P. O. Box 7080 SE-220 07 Lund, Sweden e-mail:ulf.johansson@fek.lu.se Åsa Thelander Department of Communication Studies Lund Universitety, Campus Helsingborg, P O Box 882 SE-251 08 Helsingborg
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Environmental Factors: IKEA Ingvar Kamprad founded IKEA in 1943 and now it is the world’s biggest retail furniture provider. Its prices are very competitive and it was the first company to provide products in flat packages. IKEA has 226 stores around the globe, and earned over $17.7 Billion of revenue as of august 2005. Its famous catalogue that is released on annual basis, accounts for 70% of total marketing communication. IKEA’s marketing, both global and domestic, is affected by a number of
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IKEA- Case Study Analysis Short Summary : IKEA was founded by Ingvar Kamprad who was a resident of Sweden. He had started doing his business in 1943 at the age of 17. He opened a start up of his own of selling furniture. He had to face heavy resistance initially when he had tried to sell his furniture due to a price war with their main competitors. Finally IKEA made the decision to produce its own furniture due to competitors trying to force suppliers to boycott IKEA products. They also contacted
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Ikea Furniture Store IKEA’s TARGET MARKET Ikea’s market is targeted for the upper class women and families. Its captured market, customers and clients have the benefit of the trendy furniture and designs at a much lower price than its competitor. Ikea has created the concept of the Ikea world, “a state of mind that revolves around contemporary design, low prices, wacky promotions, and an enthusiasm that few institutions in or out of business can muster” (Capel, 2005). In fact, being the leading
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IKEA IKEA was found in 1943 and it is a well-known brand with more than 301 stores spread over 25 countries. IKEA has multiple competitive advantages. There low cost structure still has kept them profitable against their competitors who are struggling. While IKEA maintains a low cost company they still offer customers a different shopping experience. Right when you enter the doors they give their customers pencils, paper, and measuring tape. This is a great approach for IKEA to set them different
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World IKEA is a privately-owned international furniture manufacturer known for its low prices and unique style. The company’s vision is to create a better everyday life for its customers by offering a great selection of well-designed, practical home furnishings. Since IKEA has chosen this sort of affordable and distinctive marketing strategy, the company has been very successful in its expansion throughout the world. In 1943, Ingvar Kamprad founded what is now known as IKEA in Almhult
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A standardised approach to the world? IKEA in China Ulf Johansson Department of Business Administration, Lund University, Lund, Sweden, and Standardised approach to the world 199 ˚ Asa Thelander Department of Communication Studies, Lund University, Helsingborg, Sweden Abstract Purpose – The purpose of this paper is to analyse the marketing strategy in China of the furnishing retailer IKEA in the context of standardisation and adaptation of marketing activities. IKEA’s strategy in China
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………………………………………The New Development Plan 7.0 …………………………………………………………...Conclusion Introduction: IKEA was founded in 1943, by 17 year-old Ingvar Kamprad in Sweden, the company is named as an acronym comprising the initials of the founder’s name, the farm where he grew up (Elmtaryd), and his home parish (Agunnaryd, in Smaland, South Sweden) . From the heart of the Swedish mountains, the idea of IKEA developed in a way to establish a relationship between its customers and everyday living environment
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