The paper "Community Service" describes a multinational organization of Sweden known as IKEA. The firm engages in manufacturing and designing furniture that can be independently assembled. The company had begun its business in 1943 and has henceforth expanded the scale and scope of business…
IKEA is known to conduct business in 38 countries with 325 stores spread across the world (IKEA Group, 2013b). In 1984, IKEA had made its first attempt to penetrate the market of the U.S. In order to enter the U.S. retailing industry, the company implemented the global strategy in business. It should be noted that the global strategy was based on the principles of standardization, but not differentiation (Jonsson, 2008). Through this strategy, IKEA manufactured and sold standardized products in both the European and U.S. marketplaces. However, the company was quick to realize that the taste and preference pattern of potential buyers in the U.S. are greatly different from that of the Europeans. Hence, in order to enhance utility levels of the U.S. customers, IKEA had implemented the transnational or differentiated strategy of internationalization therein. Under this process, the organization started to design and manufacture furniture according to local taste and preference patterns in the U.S. (Jonsson, 2008). IKEA also entered in other emerging markets such as China, with its transnational internationalization strategy. It entered into the market of China in 1998, through a legalized venture business agreement. The transnational operational strategy of IKEA was highly successful, which helped to tap a wide base of potential customers for its products worldwide. Nevertheless, it was noted that local Chinese companies recruited inexpensive laborers and procured cheaper raw materials than that of IKEA. ...
Cite this document
(“Ikea Case Summary Study Example | Topics and Well Written Essays - 3000 words”, n.d.)
Retrieved from https://studentshare.net/marketing/674766-ikea-case-summary
(Ikea Case Summary Study Example | Topics and Well Written Essays - 3000 Words)
“Ikea Case Summary Study Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.net/marketing/674766-ikea-case-summary.
Ikea President Josephine Rydberg-Dumont asserts that the “shopping experience is something that is exciting and talks to many different people.”1 Ikea makes shopping exciting because of its low prices and because people know that Ikea offers quality products too.
Founded in the year 1943 this company has grown to a world widely famous consumer and household goods producing company and has done so with the hard work and efforts of a number of key people. This company was founded in Sweden to be more exact it was founded in Almhult, Smaland.
To survive, it is vital that a firm can do something better than its competitors. Globalisation has not only altered the nature and the intensity of competition but has had to dictate and shape organisations in terms of what consumers wants, how and when they want it and what they are prepared to pay for it.
Now what method could they possibly use to do such a thing The answer to that is motivation.
We define motivation as the process that counts for an individual's intensity, direction, and persistence of effort toward attaining a goal. (The IKEA Way of Motivation 2004) Motivation actually happens when a being encounters a certain situation or instance that triggers his/her drive to do something.
Based on consumer feedback, IKEA introduced American style furniture with core IKEA values such as easy-to-assemble, portable etc. Secondly, co-workers at IKEA stores are trained in such a way that they provide complete knowledge to
IKEA has had many competitors in the furniture industry in Sweden. This industry was one of the most expensive and IKEA’s low prices created a good market for their products. It has a wide market base with 300
It was founded by Ingvar Kamprad, a 17 years old guy who is now categorized in world’s richest people of 2013. The company is famous for its modern architectural designs of furniture. There are many other attributes which are contributing in the key success
All the features of the catalogues were similar except for the absence of a womans image. The Swedish version had a woman wearing a pajama standing next to a child in a family photo. The Saudi version did not have the woman beside the child who is brushing his teeth. The
3 Pages(750 words)Case Study
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Case Study on topic Ikea Case Summary for FREE!