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IKEA Presentation

IKEA uses sophisticated market research methods like sending design experts into customers' homes to understand their needs. They segment the market based on demographics, psychographics, and geography. Their tagline is "Affordable solutions for better living". IKEA encourages customers to build their own furniture to appreciate the value and experience satisfaction. The store layout makes it easy to browse and find unexpected items to purchase. Product placement and limited visibility between sections also encourages exploration. IKEA carefully researches new markets and considers both analysis and intuition when expanding. Their marketing focuses on affordable, high-quality furniture available at conveniently located stores that customers can assemble themselves.

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Daria Plachkova
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203 views2 pages

IKEA Presentation

IKEA uses sophisticated market research methods like sending design experts into customers' homes to understand their needs. They segment the market based on demographics, psychographics, and geography. Their tagline is "Affordable solutions for better living". IKEA encourages customers to build their own furniture to appreciate the value and experience satisfaction. The store layout makes it easy to browse and find unexpected items to purchase. Product placement and limited visibility between sections also encourages exploration. IKEA carefully researches new markets and considers both analysis and intuition when expanding. Their marketing focuses on affordable, high-quality furniture available at conveniently located stores that customers can assemble themselves.

Uploaded by

Daria Plachkova
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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IKEA presentation

1. Marketing strategy- sophisticated customer and market research


 IKEA claims actually sends design experts into people’s homes to
listen to their concerns and provide feedback.
 Demographic, psychographic & geographic segmentation is used
by the company to segment the market to cater to the changing
market dynamics of the home furnishing, Kitchenware &
appliances industry.
 Actually, Ikea's official tagline is – “Affordable solutions for better
living”.
2. IKEA switches to self-build furniture
 They target the mind of the consumer first, not their wallet
 Building his own furniture allows the customer to fully appreciate
its value as well as experience satisfaction
3. Large emphasis on impulsive buys
 The design of the store makes it so that even if you go in for a
couple of items you exit having bought a lot more than initially
expected
 It is designed in such a way that the customer cannot get a clear
view of every section of products so they get curious and naturally
want to explore
 Product placement is an important tool of their marketing
strategy
4. Whenever IKEA enters a new market, the decision is backed up by
research and careful analysis, as well as a gut feeling.
 Specifically, in South Korea, we learnt not to underestimate the
forces working against us. We must take people’s fears seriously
and build strong relationships s with them.
5. Four Ps
 Placement-Having a presence in over 49 countries, IKEA has 415+
retail stores across different countries.
Recently, IKEA has altered its strategy and adopted two new store
models. Its smaller stores located inside town display a limited
range of products. There are bigger stores in city centres that
show a more extensive range of products on the outskirts of the
city.
 Product-IKEA sells a wide range of products to cater different
customer segments. Their product range includes nearly
everything you need or want to furnish your home.
 Price-Pricing is what makes IKEA ahead of its competitors.
IKEA claims it provides high-quality furniture at affordable prices.
 Promotion-IKEA spends millions of dollars annually promoting its
products and creating a top-of-the-mind recall in the consumers’
minds. The company uses a proper mix of traditional and Digital
channels to generate awareness and promoting promote its
products.
The print ads of Ikea are known to be innovative and to the point,
which grabs customer attention.
6. USP (unique selling point)- Promoting a DIY mentality when it comes to
building your own furniture

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