Ikea's Global Strategy: Furnishing The World

810 Words4 Pages
Angel G. Colón Santiago
Marketing Management
Assignment 6a: Case of Study Ikea 's Global Strategy: Furnishing the World Company Background
Ikea is a worldwide group of companies that sell ready to assemble home and office furniture. It is the largest furniture retailer in the world. The company was founded by Ingvar Kamprad in 1943, when he was 17 years old. Today, Kamprad is one of the richest people in the world (Blomberg, 2013). The company name "Ikea" is a an acronym of the name of the founder Ingvard Kamprad Elmtaryd (Henley, 2008).
The company is well known for its modern furniture designs and its eco-friendly policy and simplicity, also their products are classified as an affordable elegance (Zuvela, 2008). The company is also well-known and study by management expert because of its cost control, operation details and product development and corporate attributes that made IKEA lower its price in the decade of 2010 during a period of global expansion (Toronto Star, 2012).
Cultural Factors that affect the Ikea Global Expansion
In class we have studied that cultural factors comes from different components related to culture environment from which consumer belongs (Peter, 2013). The culture of a customers plays an important roll in the understanding of the consumer behavior and its needs. According to Peter (2013) the customer will always have the influence of his family, friends, environment and the society of he belongs. These factors will teach values

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