IKEA Case Study | SWOT Analysis to get an insight into its Strategic Management
Have you ever wondered why professors love assigning an IKEA case study? IKEA has recently introduced Frekvens collection, Tjillevipps, Borstad Collection, Permanent Collection and a lot more. They never leave a reason for their customers not to visit their stores. And, their constant efforts to make their customers happy are also paying off well. This is the one main reason your professor loves assigning IKEA case study to students; to give you an insight into the efforts of a growing company.
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No wonder that everyone is well aware of this European multinational group which designs and sells ready to assemble furniture and home accessories. The amazing thing about this company is, it was founded by Ingvar Kamprad, a 17-year old boy in 1943 in Sweden. And by 2008, this is one of the world’s largest furniture retailer. Sounds interesting, right? So, now let's take an insight into IKEA the global retailer case study.
What Is IKEA? What Is the Concept of IKEA?
Are you writing a case study on IKEA? Here are some facts you need to know about it. Basically, IKEA is a home furnishing company. It began its journey from its first store at Almhult, Sweden in 1943 to a count of more than 430 stores across the globe as in 2019. The name of this company is an acronym that consists of the founder's initials and the place he lived in as explained below.
I- Ingvar - The first name of the founder.
K- Kamprad - The last name of the founder.
E- Elmtaryd - The farm where he was born.
A- Agunnaryd - The hometown of the founder.
The concept of IKEA is to provide a wide range of home furnishing products to everyone at affordable prices. For achieving this, they combine the function, quality, design, and value with sustainability. They work intending to help people live a better life at home. If you are writing on this topic, then you can refer to our IKEA case study pdf and get an idea on how to make your work flawless. Let us know their history in detail before looking into the vision and mission of this company in the succeeding sections.
Journey of IKEA | How IKEA became Successful?
Want to know the journey of this company for including in your IKEA case study marketing? Ingvar Kamprad belonged to Smaland province in southern Sweden. Here, though the soil was thin and poor, people worked very hard and made a living by making most of the limited resources that were available to them. It was then when Ingvar Kamprad, who was already interested in starting a business, became an entrepreneur. He began designing furniture and products that were cheaper than those of their competitors but also of better quality. He worked on cutting unnecessary scrapes where the pricing can be decreased without affecting the quality of the product. This can be an interesting section for your IKEA packaging case study.
This timeline can aid you through your IKEA catalogue case study writing process. You can explain this in detail as per your requirement. Now, let us move ahead to the objectives of IKEA.
What Are the Objectives of IKEA? Know from the Experts
Are you working on an IKEA marketing case study? Here are the objectives of this company that you should know before you begin with it.
To provide affordable products to customers.
To provide a better life for people who can’t afford expensive products.
To ensure the customer finds what he needs in the store.
To ensure products are available at low prices.
Now, let us know the vision and mission of this company that you can include in your IKEA case study marketing management paper to easily impress your professor.
What Is the Vision and Mission Statement of IKEA?
If you are writing an IKEA case study international business, then you surely must be aware of the vision and mission statement of this company, which are stated below.
IKEA works with a motto: “IKEA Family is for everyone. From those whose homes are their passion , to those wo are just starting out, and need a helping hand. Just by being a member, you will get guaranteed discounts on selected products, food, services. And lots more. You can also expect a few surprises along the way. Because we know it’s nice to feel appreciated.” (source:IKEA)
These were the vision, mission and market positioning statements of this company. Now, let us look into the strategic analysis of this company to learn about its future growth and development for including it in your IKEA Russia case study. We can analyze the strengths, weaknesses, opportunities, and threats of this company to understand how it is growing or developing.
SWOT Analysis of IKEA | How Experts Perform Strategic Analysis on IKEA?
Here, we can perform a SWOT analysis on IKEA to know about its strengths, weakness, opportunities and threats for writing IKEA marketing strategy case study.
These are some reasons which help IKEA maintain its position at the top of the furnishing retailers.
Powerful brand image
Variety of products
Cheap and affordable
Easy to assemble furniture
Strong global sourcing capabilities
These are some strengths of IKEA that you can discuss in detail in your IKEA marketing strategy case study.
This includes the weaker sections of this company that may affect its growth and development.
Fewer locations as compared to competitors
Store layout may be a hassle for people looking for particular products.
Swedish designs may not appeal in American markets.
Advertising may not appeal to the target audience.
The furniture is not built for lifetime lasting.
Environmental issues can turn out to be an obstacle.
These are the areas where the company needs to focus on to stand at the top among all other furniture retailers. Are you writing innovation case study IKEA? Then, mention these points to impress your professor easily.
These are the list of changes that the company can utilize to reach great heights, improve its sales and strengthen customer relationships.
Expanding the business areas.
Educating customers about this through advertisements.
Increasing store outlets.
Increasing online presence and digital sales.
Use popularity among young people to expand the market.
More new stores that are smaller can be introduced.
These are some of the opportunities that this company can make use of and reach out to people in a better way. Do not miss including these points in your IKEA operations management case study.
Here we listed out some threats or challenges for this company that it should deal with at the earliest to not affect it badly.
Global economic crisis can lead to troubles.
Social trends and people interested in housing furniture.
Economic factors affecting the customer indirect affects the business.
Increase in competitors providing low-quality products.
Recessions slow down consumer expenditure.
Big competitors like Walmart, home depot, etc. turn to indirect threats.
So, these are things you should keep an eye on to ensure not to face any problems. You can discuss these in detail in your IKEA furniture retailer to the world case study.
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This is how to perform a SWOT analysis to know about the strengths, weakness, opportunities and threats of this company that can affect its development. If you find any trouble with this, you can seek experts’ assistance in the same from Instant Assignment Help. Our professional writers will leave no stone unturned to provide you with the best IKEA case study Harvard. However, here are some other interesting topics related to this, that you can look into and choose for your writing task.
What Are Some Interesting Topics Related to IKEA?
If you are writing a case study on IKEA, then here are some interesting topic that you can choose one from to write your document or seek help from our experts.
1.IKEA case study Harvard business school
In this, you can discuss the company and provide IKEA the global retailer case study answers to any questions related to the topic. This not only helps in targeting the information but can help in easily impressing your professor.
2.IKEA child labour case study
Child labour was one of the biggest challenges for IKEA back in the 90s when this was a common practice in South-Asian countries. You can explain how the company has dealt with this at the time not to get it to affect the company’s reputation. You can seek our experts help in your IKEA supply chain management case study to score the best grades.
3.IKEA invades America case study
With an optimistic approach, IKEA is moving forward to expand its stores in the UK. This is a topic of great interest since it got everyone’s heads’ turn. So, you can choose this topic and provide IKEA invades America case study solution to the same. If you are choosing this topic, then you can surely keep your professor hooked till the end.
These are the top 3 interesting topics related to Ingvar Kamprad and IKEA case study that you can choose and write a document on, to score the best grades. If you need any assistance in choosing more such interesting topics like this, then you can avail our services. Our experts can suggest the best topics for you.
This is an overview of the IKEA case study summary. The above mentioned were some that every student should know before they begin with the writing task. If you get stuck or face any trouble with this topic, you can seek our help. Our experts can write on IKEA design and pricing case study, IKEA working process case study, IKEA- the complete journey from one store to the top furniture retailer, and many more. Not just that, we have some additional benefits for you. Yes! When you seek our services, we provide the below-mentioned guarantees with our work.
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