IKEA Case Study
Ikea is a furniture company which is
founded in the year 1943 in Sweden. Ikea is an international brand which deals
in home products retailer that sell furniture, bathroom accessories, and
kitchen accessories in their different store in different cities of the world.
Ikea provides flat-pack design furniture at reliable and low prices and is
known as the worlds best furniture retailer in the world.
The company sells its all products by
their 301 stores in 37 countries for many years. The company stabilized its
name for the world one of the best furniture retail chains.
Objective of IKEA
To produce an affordable product for the
customers, that helps to increase the value of the company.
Increase the living standard of people
with cheap furniture products.
Provide the best range of products to
company customers.
Vision
of IKEA
The vision of IKEA is to create a better
living for the peoples.
Mission
of IKEA
Ikea mission is to provide a broad range
of well-designed home furnishing product at an affordable price so every person
can get the products easily
Position
IKEA Company positioning IKEA make their
position in the market to provide furniture at low and affordable prices.
Major issues and problems
This case study involves the issue face by
the company to maintain the standard of the company product. The company faces
the problem of a lack of product innovation and the same product design. Not
enough manager for the store. Another issue related to the company is that they
are not able to open the new store for their retail sales that impact the
business of the company. And other
related factors faced by the company affecting the business of the company.
Opportunity and threats
The opportunity and threats related to the
work and strategies adopted by the company to increase the business
opportunity. Ikea work on product design, management training, and other
factors to increase the business that information is covered by the experts in
the case study help.
Ikea case study
A case study involves the different areas
to study related to the company and strategies adopted by the company to solve
the problem. The case study involves the study of these areas of the company to
analyzing the performance of the company which include the
Cost strategies of the company
The companys objective is to provide the
best prices to the customers so they can target the right segment audiences.
How the company manages the cost of the product to target the audiences.
Product strategies
The company provides various range of home
furnishing products with good design at low and affordable prices. That helps the
company to become the worlds best furnishing retail store.
Promotion strategies
What type of promotion strategies adopted by
the company for the advertisement campaign of the company, online selling of
the product, and company after-sale services?
Market development strategies
Targeting a new segment audience and
entering the new market with their products how companies enter different
countries and how their revenue and sales are affected.
Macro-environment
The macro-environment include all factor
which affects the company and out of control of the company, this is also known
as PESTLE analysis of the company political, economic, social, technical,
environmental, and legal factors.
SWOT analysis
It analyses the strength, weakness,
opportunity, and threat of the company which shows the different areas which are
powerful and needs improvement for the better development of the company.
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