Ikea Marketing Plan - 3836 Words

Ikea Marketing plan Executive Summary IKEA is one of the world s top furniture retailers, and its International sells home furnishings and other housewares in about 270 stores in 35 countries. To cut transportation costs, IKEA uses flat packaging for most of its furniture; customers assemble the products at home. The company designs its own furniture, which is made by about 1,300 suppliers in more than 50 countries. IKEA s stores feature playrooms for children and value cuisine restaurants. It also sells by mail order and online. IKEA began operating in Sweden in 1943. It is owned by Kamprad s Netherlands-based charitable foundation, Stichting Ingka. IKEA’s current strategy (IKEA designs its own low-cost, modular,†¦show more content†¦C) IKEA’s Financial Objective ↠ Acquire sales revenue of $31,500 million in 2009. Marketing and sales objective ( Expand into home design services by partnering with selected Real estate agencies D) Developing positioning strategies †¢ Analyze competitors’ positions The statistics Canada website shows that the Canadian market for furniture was 7.1 billion and 66% was supplied by the domestic industry in 2003. At the same time, Canada only exported $6.9 billion worth of furniture. Thus, the data suggests that the furniture market is potentially large and IKEA could capture a large domestic market share. Wal-Mart is IKEA’s major competitor. Wal-mart is the world’s number one retailer in which it has more than 7,250 stores and 590 warehouse stores worldwide. It is also the number one retailer in Canada and Mexico (www.statcan.ca) †¢ Identify sustainable competitive advantage In the furniture industry, IKEA’s current strategy is to sell their beautiful, colourful and modern products at a low price. IKEA doesn’t only offer the satisfied products to its consumers, but it also provides consumers convenience and fun shopping experience. For example, families can buy a large quantity of flat-packaged furniture at one-time and they can do their own delivery. In addition, many consumers indeed enjoy assembling furniture parts by themselves and it is an activity that bonds family membersShow MoreRelatedIkea Marketing Plan8221 Words   |  33 PagesIKEA Marketing Plan – Part I Submitted to: John Daly Submitted by: Lindsay Churchman Matthew Holland Jamie Krebs Eveline Man Chris Manellis Chelsea Slade Due Date: February 17, 2011 MRK428MS Internal Environment IKEA current marketing goal and objective The IKEA vision is to create a better life for many people who purchase their products. 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