IKEA Case Study Help

IKEA Case Study | Master Their Business Strategy

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.

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.

1. I- Ingvar - The first name of the founder.
2. K- Kamprad - The last name of the founder.
3. E- Elmtaryd - The farm where he was born.
4. A- Agunnaryd - The hometown of the founder.

The concept of IKEA business strategy is to provide a wide range of home furnishing products to everyone at affordable prices. To achieve this, they combines 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.

How IKEA became Successful? Know the Journey of IKEA

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.

1. To provide affordable products to customers.
2. To provide a better life for people who can’t afford expensive products.
3. To ensure the customer finds what he needs in the store.
4. 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.

IKEA’s Business Strategy

IKEA's target market has a unique functional need for each target audience, one of the reasons behind their success. They have an impressive business strategy that helps them get the best outcome. It will be a fun to learn about their marketing strategy, so you must read the below pointers. We will discuss each pointer in-brief.  

Branding

Ikea is proud of its brand image. It prides itself on offering quality products and services at affordable prices, which is one of the reasons why people from all walks of life believe in it. Moreover, its primary focus is on keeping its customers satisfied.

Target Market

Ikea has one of these qualities: It targets people of all ages and groups. It focuses on the needs of each and every customer. However, it pays special attention to 16-37-year-old adults. Thus, due to this broad target audience, it is able to benefit its sales.

Business Model

Ikea's business model is organised in a franchise system with over 12 franchisees in approximately 63 markets. The concept is to provide a range of home furnishing products at the most affordable rates. Moreover, they aspire to provide services to as many people as possible.

Sustainability & Corporate Social Responsibility (CSR)

Ikea's corporate social responsibility refers to sustainability strategies for ensuring that the company is working ethically. So, as stated by IKEA mission statement, they are known to have reduced the furniture waste and making most out of the raw material.

So, the above pointers properly explains about the IKEA business model and its strategy of Ikea and how they are able to get the success and growth over so many years. You must have understood that the secret to getting success is gained by combining quality, value, design, and value.

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.

1. Strengths

These are some reasons which help IKEA maintain its position at the top of the furnishing retailers.

1. Powerful brand image
2. Variety of products
3. Cheap and affordable
4. Easy to assemble furniture
5. One-stop shop
6. Friendly atmosphere
7. Strong global sourcing capabilities

These are some strengths of IKEA that you can discuss in detail in your IKEA marketing strategy case study.

2. Weakness

This includes the weaker sections of this company that may affect its growth and development.

1. Fewer locations as compared to competitors
2. Store layout may be a hassle for people looking for particular products.
3. Swedish designs may not appeal in American markets.
4. Advertising may not appeal to the target audience.
5. The furniture is not built for lifetime lasting.
6. 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.

3. Opportunities

These are the list of changes that the company can utilize to reach great heights, improve its sales and strengthen customer relationships.

1. Expanding the business areas.
2. Educating customers about this through advertisements.
3. Increasing store outlets.
4. Increasing online presence and digital sales.
5. Use popularity among young people to expand the market.
6. 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.

4. Threats

Here, we listed out some threats or challenges for this company that it should deal with at the earliest to not affect it badly.

1. Global economic crisis can lead to troubles.
2. Social trends and people interested in housing furniture.
3. Economic factors affecting the customer indirect affects the business.
4. Increase in competitors providing low-quality products.
5. Recessions slow down consumer expenditure.
6. 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. 

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.

IKEA’s PESTLE Analysis

Ikea, as you know, is a multinational company that has specialisation in manufacturing, designing, and curating the products that help the customers get the maximum benefit. So, here is a pestle analysis of ikea to know their strategic management framework for examining factors that may impact the growth of the organisation.

Political Factors 

Below are the political factors that affects Ikea; go through the pointers to know about them:

• Export and import from across different countries.
• Political controversy of 1970s tarnished the brand to a great extend.
• Lobbying activity of Ikea are minimal leading to less expenditure.

Economic Factors 

Below are the economic factors that are affecting Ikea's growth and development:

• Economy is directly linked to the purchasing power of the consumer.
• Fluctuations in the currency of different countries affecting the trade.
• Constant changes in the cost of raw materials affect businesses adversely.

Social Factors 

Below mentioned are the social factors that are affecting the company’s output:

• Ikea needs to follow cultural norms to avoid repercussions.
• The need to adapt to urbanisation plays a major role.    
• They need to focus on addressing the grievances of customers from different countries.

Technological Factors

Below are a few technological factors that play an essential role in the success of Ikea:

• Generation of customer feedback becomes easy and quick.
• Helped in enabling home deliveries and online shopping.
• E-commerce platform is necessary for a smooth experience for customers.

Legal Factors

Explore the below legal pestle of ikea factors for knowing how they affect Ikea:

• Ikea follows labour laws for countries around the globe.
• Customer satisfaction is paramount for Ikea and works for quality products.
• Ikea has suffered backlash from the workers due to unhealthy conditions.

Environmental Factors

Go through the environmental factors affecting Ikea's business:

• Ikea is using renewable energy and regularly works to store it.
• They are also working towards increasing the use of sustainable materials.
• Ikea develops eco-friendly products by using sustainability.

The above are the pointers that properly explain each pointer from Ikea pestle analysis. You must have understood how Ikea is able to provide maximum satisfaction to their customers.

What Are Some Interesting Topics Related to IKEA?

If you are writing a case study on IKEA, then here are some interesting topics that you can choose from to write your document or seek help from our experts.

1. Ikea child labour case study
2. Ikea invades America case study
3. Ikea and allegations of forced labor
4. Ikea case study Harvard business school
5. Ikea horse meat meatball scandal
6. Ikea and its impact on urban design
7. Influence of Ikea on interior design
8. Ikea's role in reducing furniture waste
9. Ikea's marketing strategies and campaigns
10. Impact of Ikea on the rise of co-living space

These are the top 3 interesting topics related to Ingvar Kamprad and the 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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