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IKEA and Fantastic Furniture - Research Paper Example
Author : abigayleheaney
Pages 6 (1506 words)
Name: Course: Date: IKEA and Fantastic furniture Executive summary While IKEA was started in 1943, Fantastic furniture was established in 1991. Both are furniture retail companies, which have experienced a great deal of success over the years the companies have been running…
The key success factors desirable for such success is the provision of quality and value for customers’ money, understanding the market and targeting advertisements to perceived needs of the markets and provision of an outstanding customer service to the customers. Though IKEA and Fantastic furniture are similar in many ways, they differ in design of products where IKEA emphasizes on flexibility and portability of the furniture, thus, producing self-assembled furniture while Fantastic furniture mostly produces pre-assembled ones. Backward integration and increased productivity are recommended for the two companies, in order to be able to meet the projected increase in furniture demand. Table of Contents Background and Introduction IKEA is a privately owned international company that sells home products that can be assembled, such as home appliances and accessories, beds, and desks (Coker, 2005). The company was founded in 1943 by a 17-year-old Swedish, with the name of the company derived from his name and place of origin. The company ranks as the world’s largest retailer of furniture (Dennis, 2008). There are notable strengths that the company has been credited with. Its ability to control costs allows it to offer continuously lower prices for its products. The company is also known for its attention to operational details, allowing it to improve continuously the products it offers to its customers. ...