Analysis and Strategy recommendation plan for the IKEA brand: A strategy is said to be a plan that is made for the long term success of a product or brand. It is extremely important to have a strategy in order to figure out a direction towards which any company is able to focus all its resources efficiently and achieve desired outcomes. Formulating effective strategies is a considerably long process in itself that combines analysing several factors, situations and issues that are already present.
Marketing strategies IKEA-products are extremely popular, there are very few people that never heard about the yellow-blue brand. Moreover, it will even be hard to find people that have no products from IKEA in their houses. Our main belief was that IKEA is a company. This analytical report has been written on behalf of IKEA and will address and assess the six marketing processes used by IKEA and their impact on the businesses overall success.
A marketing plan is one of the most important processes for businesses to undertake as the development of a marketing plan will offer a reference document to assist businesses in executing their marketing strategies.
It will also help to develop a structured approach to creating services and products that satisfy customer. This helps them save a lot of cost.
Psychological Pricing : All the prices are in odd figures, generally ending with a 5 or 9 to give the impression of inexpensive products to the customers. Search for:. Photo: IKEA catalogue. Share this: Twitter Facebook. Like this: Like Loading Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in:. Email required Address never made public. Name required.
Follow Following. Sign me up. Already have a WordPress. Log in now. Loading Comments IKEA starts the process by picking what the new product will cost.
This will help to determine color, materials used, and design. Next they choose a manufacturer using their network of manufactures.
They do this by determining which manufacturer can most efficiently produce the new product. Next they design the product, keeping in mind efficiency, ie. Packaging, shipping ect. Every inch of the product is reviewed in order to maximize their ability to manufacture, ship and store the new product. Finally they ship it. While shipping, the key word is flat, in fact the flatter the better.
From vacuum packing pillows to exclusively producing disassembled furniture, IKEA is committed to not shipping air. Lastly they must sell their new product. What are additional features of the IKEA concept beyond their design process that contribute to creating exceptional value for the customer? The way they ship their products is clearly one of its greatest contributors to its low prices. They are able to ship the maximum amount of products, at the right time to the right stores keeping their prices 20 the 30 percent lower than their competition.
What would be important criteria for selecting a site for an IKEA store?
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