Case Study Of Ikea's Marketing Strategies
QUESTION 4
First and foremost it could be seen that the two markets have some things in common such as culture and tradition as well as sizes of their homes and way of living. So many marketing strategies have been implemented in these markets over the years the company has been in business in these markets. Some strategies implemented are same or similar which have helped IKEA to maintain its market share in these markets and also add more. I believe that if IKEA adopt and implement these strategies for these markets in future they will gain competitive advantage as well as achieve higher profitability. The strategies that IKEA has so far implemented on these markets are in the right direction and if these strategies are added in future they will gain high market shares and succeed to dominate the market.
Firstly it could be seen that even though prices of IKEA furniture is cheap or low compared to other furniture stores, it is not everybody in their target market group who can afford it. Therefore they need to
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The introduction of a catalogue App will help a lot more. The catalogue app will not only show or display the products that IKEA has in stock but also at a click on a particular product it will display how the furniture will look in your room or home considering space as well. This will help customers to make informed decisions about a particular product they need before coming to the store. The added advantage will be the fact that the products are also displayed at the store as well. With an already made decision ,all that a customer needs is to have a physical look at the product required and purchases are made at a goal. This will make turnaround time in the store minimal and productive. This strategy will also reduce the cost of printing more brochures which will later be found in the
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