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    IKEA's Global Marketing Strategy

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    Tanya Thukral
    This document provides an overview of IKEA's global marketing strategy. It discusses IKEA's history and founding in 1943 in Sweden. It has since expanded to 226 stores across 33 countries. The document highlights IKEA's strategy of product differentiation and low costs. It also discusses IKEA's founder Ingvar Kamprad's vision of "democratic design" and affordable furniture. The document summarizes some of IKEA's localization efforts in different global markets and its focus on the growing global middle class. It lists factors contributing to IKEA's success including vision, innovation, marketing, and volume commitments. Finally, it discusses some of IKEA's promotional strategies.

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    IKEA's Global Marketing Strategy

    Uploaded by

    Tanya Thukral
    19 views13 pages
    This document provides an overview of IKEA's global marketing strategy. It discusses IKEA's history and founding in 1943 in Sweden. It has since expanded to 226 stores across 33 countries. The document highlights IKEA's strategy of product differentiation and low costs. It also discusses IKEA's founder Ingvar Kamprad's vision of "democratic design" and affordable furniture. The document summarizes some of IKEA's localization efforts in different global markets and its focus on the growing global middle class. It lists factors contributing to IKEA's success including vision, innovation, marketing, and volume commitments. Finally, it discusses some of IKEA's promotional strategies.

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    This document provides an overview of IKEA's global marketing strategy. It discusses IKEA's history and founding in 1943 in Sweden. It has since expanded to 226 stores across 33 countries. The document highlights IKEA's strategy of product differentiation and low costs. It also discusses IKEA's founder Ingvar Kamprad's vision of "democratic design" and affordable furniture. The document summarizes some of IKEA's localization efforts in different global markets and its focus on the growing global middle class. It lists factors contributing to IKEA's success including vision, innovation, marketing, and volume commitments. Finally, it discusses some of IKEA's promotional strategies.

    Copyright:

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    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    19 views13 pages

    IKEA's Global Marketing Strategy

    Uploaded by

    Tanya Thukral
    This document provides an overview of IKEA's global marketing strategy. It discusses IKEA's history and founding in 1943 in Sweden. It has since expanded to 226 stores across 33 countries. The document highlights IKEA's strategy of product differentiation and low costs. It also discusses IKEA's founder Ingvar Kamprad's vision of "democratic design" and affordable furniture. The document summarizes some of IKEA's localization efforts in different global markets and its focus on the growing global middle class. It lists factors contributing to IKEA's success including vision, innovation, marketing, and volume commitments. Finally, it discusses some of IKEA's promotional strategies.

    Copyright:

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    of 13

    IKEA’s

    GLOBAL MARKETING
    STRATEGY
    Presented by:
    Ayush Mittal
    Kumar Fanishwar
    Mayank
    Vashishta
    Mani Kukreja
    Varsha Nagdev
    INTRODUCTION
    • Swedish home
    furnishings retailer
    • 226 stores in 33
    countries
    • Success=Product
    differentiation + cost
    leadership
    ABOUT IKEA
    • Established in 1943
    • 1947-Furniture
    • 1958-1st store
    • 1956-Flat pack furniture
    • 1963-Overseas
    • Price reduction by avg. 2-
    3% per year
    • 2005-US $17.9billion
    company
    Man Behind The Success:
    Ingvar Kamprad
    • Business idea:
    Democratic Design
    • “We are concept
    company”
    • Believe: People’s
    lives + People
    themselves
    • Work culture
    COMPLETE SHOPPING EXPERIENCE

    • Located outside
    urban areas.
    • Beautifully crafted
    stores
    • Circular building
    • Play room
    • Innovative products
    LOCALIZATION IN GLOBAL
    MARKET
    •Target market –global middle class
    •Similar spending pattern across the country
    •Need to strengthen its presence in global
    market
    •Cost cutting
    •Different patterns in different countries
    •DIY concept
    IKEA BUZZ
    • Weaving a story
    across itself

    • Growing craze of
    IKEA

    • Introduction of
    Boklok homes
    FACTORS
    • Vision-‘to create a better
    everyday life for many people’
    • Strong concept
    • CSR activity
    • Volume Commitments
    • Innovation
    • Marketing
    PROMOTIONAL STRATEGIES
    Valuing the Values of the
    Founder
    “Creating a better life” “Respect for Money”
    “Simplicity & Humbleness”
    “Ability to overcome the Shortcomings”
    “Contemporary yet Affordable furniture”

    •Were they really be able to provide “value for money” when the
    parts in the kits were missing ?
    •Were they able to justify the “creating a better life” factor when
    during opening of new stores, people were crushed to death or
    the case of long billing queues ?
    • When DO-IT-YOURSELF factor created uneasiness amongst
    customers?
    •In spite of Mass campaigning & advertising, the goods were “out
    of stock”
    Steps for following the old path &
    Curbing Customer Resentment
    • Innovations & development, keeping intact the
    founder’s vision was the need of the hour
    • Social Responsibility towards Customer
    • Hiring more staff exclusively for Customer
    Handling
    • Availability of products
    • Motivating the Staff for Simple & Humble
    Customer Satisfaction
    • Moving from “Ikea-Oriented” Approach to
    “Customer-Oriented Approach”
    The Love-Hate Relationship
    • Gathering of People in
    Abundance during
    opening of new stores
    • The supply does not
    support the demand for
    the products.
    • Customer more willing
    to buy than the sellers
    who are willing to sell.
    THANK YOU

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