Ikea
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IKEA, the Swedish furniture retailer, plans to export Turkish-made furniture globally to complement its production in Sweden, Poland, and Romania. Currently, IKEA exports around $500 million worth of Turkish products annually, such as ceramics and textiles, through its stores and aims to increase this to $900 million in five years. The company's Turkish general manager stated they could reach this target if Turkish furniture was available in more IKEA stores internationally in the near future.
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Origin & Genesis
History & Last Decade
Business !dea
Structure and Corporate Management
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1 Assessment 2 Case Study Assignment Spec.docxhoney725342
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1
Assessment 2
Case Study
Assignment Specifics:
Read the case study and answer all four questions
This is an individual piece of work
Weighting: 40% towards final grade
Please use the Harvard Referencing System for referencing requirements
Total wordage: 4000 words
IKEA: A Long March to the Far East
From its humble beginning as a small general retail store in a village situated
in the south of Sweden, IKEA has grown into the worlds largest furniture
retailer with 279 stores in 36 countries today. The name IKEA is formed from
the founder's initials I. K. (Ingvar Kamprad) plus the first letters of Elmtaryd (E)
and Agunnaryd (A), the farm and village where he grew up. Specializing in
furniture and home decoration, IKEA has an annual turnover of 19.8 billion
euros (source: IKEA, www.ikea.com, accessed 25/03/2012). The IKEA
catalogue is printed in 52 editions with 25 languages, with a global distribution
in excess of 160 million copies.
IKEAs success has been nothing short of a global phenomenon. Edvardsson
and Edquist (2002) have accounted for the companys rise to global success
following the timeline of three development phases. In phase one, IKEAs
core concepts were formed as a result of adapting to the market
circumstances. The important moments during this period were publishing the
first IKEA catalogue in 1951, opening the first furniture showroom in lmhult in
1953, introducing flat packages in 1956 and finding the key to low cost
production in Poland in the early 1960s. Phase two is characterized by the
companys initial internationalization expansion when it reached out to its
Scandinavian neighbours in the 1960s. Since the 1970s, the company began
to expand farther into other European countries, Australia and Canada. In
1985, IKEA arrived at the worlds largest consumer marketthe United States
where first experienced North America as a market very different from those
in Europe. Armed with its international experience in Europe and North
America, IKEA took the company into the third phase of its development by
embarking on a major expansion into the Far East, in particular Japan and
China.
http://www.ikea.com/
http://www.ikea.com/
2
IKEA sees the Far Asia as an emerging market still in its infant stage. Its
number of retail outlets in Malaysia, Singapore, Taiwan, Beijing, Shanghai
and Hong Kong are very small and comprises a mere 3% of the companys
total sales. These stores were expected to be more successful in the near
future. IKEAs imminent strategic expansion into this region exemplified its
ambitions to dominate this emerging market.
IKEAs entry into Mainland China started in 1998 when it opened its first store
in Shanghai, followed by Beijing in 1999. IKEA took its time to get to know the
Chinese customers. This prudent approach to market entry took IKEA the
following 5 years before it opened its first full-scale standard IKE ...1 Assessment 2 Case Study Assignment Spec.docx
1 Assessment 2 Case Study Assignment Spec.docxmercysuttle
油
1
Assessment 2
Case Study
Assignment Specifics:
Read the case study and answer all four questions
This is an individual piece of work
Weighting: 40% towards final grade
Please use the Harvard Referencing System for referencing requirements
Total wordage: 4000 words
IKEA: A Long March to the Far East
From its humble beginning as a small general retail store in a village situated
in the south of Sweden, IKEA has grown into the worlds largest furniture
retailer with 279 stores in 36 countries today. The name IKEA is formed from
the founder's initials I. K. (Ingvar Kamprad) plus the first letters of Elmtaryd (E)
and Agunnaryd (A), the farm and village where he grew up. Specializing in
furniture and home decoration, IKEA has an annual turnover of 19.8 billion
euros (source: IKEA, www.ikea.com, accessed 25/03/2012). The IKEA
catalogue is printed in 52 editions with 25 languages, with a global distribution
in excess of 160 million copies.
IKEAs success has been nothing short of a global phenomenon. Edvardsson
and Edquist (2002) have accounted for the companys rise to global success
following the timeline of three development phases. In phase one, IKEAs
core concepts were formed as a result of adapting to the market
circumstances. The important moments during this period were publishing the
first IKEA catalogue in 1951, opening the first furniture showroom in lmhult in
1953, introducing flat packages in 1956 and finding the key to low cost
production in Poland in the early 1960s. Phase two is characterized by the
companys initial internationalization expansion when it reached out to its
Scandinavian neighbours in the 1960s. Since the 1970s, the company began
to expand farther into other European countries, Australia and Canada. In
1985, IKEA arrived at the worlds largest consumer marketthe United States
where first experienced North America as a market very different from those
in Europe. Armed with its international experience in Europe and North
America, IKEA took the company into the third phase of its development by
embarking on a major expansion into the Far East, in particular Japan and
China.
http://www.ikea.com/
http://www.ikea.com/
2
IKEA sees the Far Asia as an emerging market still in its infant stage. Its
number of retail outlets in Malaysia, Singapore, Taiwan, Beijing, Shanghai
and Hong Kong are very small and comprises a mere 3% of the companys
total sales. These stores were expected to be more successful in the near
future. IKEAs imminent strategic expansion into this region exemplified its
ambitions to dominate this emerging market.
IKEAs entry into Mainland China started in 1998 when it opened its first store
in Shanghai, followed by Beijing in 1999. IKEA took its time to get to know the
Chinese customers. This prudent approach to market entry took IKEA the
following 5 years before it opened its first full-scale standard IKE ...More Related Content
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An Overview of what is in the IKEA store as you turn the pages. . .
Intro
Origin & Genesis
History & Last Decade
Business !dea
Structure and Corporate Management
Brand Portfolio with STP and Consumer Activations
IKEA and inter-market segmentation
4Ps & core competency
AD agencies and Strategic Brand Campaigns
Market Environment (Sectoral and Industrial Analysis)
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1
Assessment 2
Case Study
Assignment Specifics:
Read the case study and answer all four questions
This is an individual piece of work
Weighting: 40% towards final grade
Please use the Harvard Referencing System for referencing requirements
Total wordage: 4000 words
IKEA: A Long March to the Far East
From its humble beginning as a small general retail store in a village situated
in the south of Sweden, IKEA has grown into the worlds largest furniture
retailer with 279 stores in 36 countries today. The name IKEA is formed from
the founder's initials I. K. (Ingvar Kamprad) plus the first letters of Elmtaryd (E)
and Agunnaryd (A), the farm and village where he grew up. Specializing in
furniture and home decoration, IKEA has an annual turnover of 19.8 billion
euros (source: IKEA, www.ikea.com, accessed 25/03/2012). The IKEA
catalogue is printed in 52 editions with 25 languages, with a global distribution
in excess of 160 million copies.
IKEAs success has been nothing short of a global phenomenon. Edvardsson
and Edquist (2002) have accounted for the companys rise to global success
following the timeline of three development phases. In phase one, IKEAs
core concepts were formed as a result of adapting to the market
circumstances. The important moments during this period were publishing the
first IKEA catalogue in 1951, opening the first furniture showroom in lmhult in
1953, introducing flat packages in 1956 and finding the key to low cost
production in Poland in the early 1960s. Phase two is characterized by the
companys initial internationalization expansion when it reached out to its
Scandinavian neighbours in the 1960s. Since the 1970s, the company began
to expand farther into other European countries, Australia and Canada. In
1985, IKEA arrived at the worlds largest consumer marketthe United States
where first experienced North America as a market very different from those
in Europe. Armed with its international experience in Europe and North
America, IKEA took the company into the third phase of its development by
embarking on a major expansion into the Far East, in particular Japan and
China.
http://www.ikea.com/
http://www.ikea.com/
2
IKEA sees the Far Asia as an emerging market still in its infant stage. Its
number of retail outlets in Malaysia, Singapore, Taiwan, Beijing, Shanghai
and Hong Kong are very small and comprises a mere 3% of the companys
total sales. These stores were expected to be more successful in the near
future. IKEAs imminent strategic expansion into this region exemplified its
ambitions to dominate this emerging market.
IKEAs entry into Mainland China started in 1998 when it opened its first store
in Shanghai, followed by Beijing in 1999. IKEA took its time to get to know the
Chinese customers. This prudent approach to market entry took IKEA the
following 5 years before it opened its first full-scale standard IKE ...1 Assessment 2 Case Study Assignment Spec.docx
1 Assessment 2 Case Study Assignment Spec.docxmercysuttle
油
1
Assessment 2
Case Study
Assignment Specifics:
Read the case study and answer all four questions
This is an individual piece of work
Weighting: 40% towards final grade
Please use the Harvard Referencing System for referencing requirements
Total wordage: 4000 words
IKEA: A Long March to the Far East
From its humble beginning as a small general retail store in a village situated
in the south of Sweden, IKEA has grown into the worlds largest furniture
retailer with 279 stores in 36 countries today. The name IKEA is formed from
the founder's initials I. K. (Ingvar Kamprad) plus the first letters of Elmtaryd (E)
and Agunnaryd (A), the farm and village where he grew up. Specializing in
furniture and home decoration, IKEA has an annual turnover of 19.8 billion
euros (source: IKEA, www.ikea.com, accessed 25/03/2012). The IKEA
catalogue is printed in 52 editions with 25 languages, with a global distribution
in excess of 160 million copies.
IKEAs success has been nothing short of a global phenomenon. Edvardsson
and Edquist (2002) have accounted for the companys rise to global success
following the timeline of three development phases. In phase one, IKEAs
core concepts were formed as a result of adapting to the market
circumstances. The important moments during this period were publishing the
first IKEA catalogue in 1951, opening the first furniture showroom in lmhult in
1953, introducing flat packages in 1956 and finding the key to low cost
production in Poland in the early 1960s. Phase two is characterized by the
companys initial internationalization expansion when it reached out to its
Scandinavian neighbours in the 1960s. Since the 1970s, the company began
to expand farther into other European countries, Australia and Canada. In
1985, IKEA arrived at the worlds largest consumer marketthe United States
where first experienced North America as a market very different from those
in Europe. Armed with its international experience in Europe and North
America, IKEA took the company into the third phase of its development by
embarking on a major expansion into the Far East, in particular Japan and
China.
http://www.ikea.com/
http://www.ikea.com/
2
IKEA sees the Far Asia as an emerging market still in its infant stage. Its
number of retail outlets in Malaysia, Singapore, Taiwan, Beijing, Shanghai
and Hong Kong are very small and comprises a mere 3% of the companys
total sales. These stores were expected to be more successful in the near
future. IKEAs imminent strategic expansion into this region exemplified its
ambitions to dominate this emerging market.
IKEAs entry into Mainland China started in 1998 when it opened its first store
in Shanghai, followed by Beijing in 1999. IKEA took its time to get to know the
Chinese customers. This prudent approach to market entry took IKEA the
following 5 years before it opened its first full-scale standard IKE ...CASE 6油Business Model and Competitive Strategy of IKEA in India.docx
CASE 6油Business Model and Competitive Strategy of IKEA in India.docxwendolynhalbert
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CASE 6:油Business Model and Competitive Strategy of IKEA in India
Syed Abdul Samad
IBS Center for Management Research (ICMR)
揃 We are very determined but very patient at the same time. We started this journey six years ago. Things are finally moving and we are satisfied with the progress so far
I truly believe that the IKEA format is going to work. What is an IKEA store? An IKEA store has more than 9000 different articles for the entire family. We offer an experience for the whole family. Also remember, at IKEA we dont sell products, we sell inspiration.1
Juvencio Maeztu, IKEAs Country Manager for India, in 2013
After a year of lobbying and negotiating with and convincing the Indian politicos and bureaucrats, IKEAs 1.5 billion investment proposal to set up its stores in India was finally accepted by the local government on May 2, 2013. However, as of July 2013, Juvencio Maeztu (Maeztu), IKEAs Country Manager for India, found he still had a colossal task ahead of him.
IKEA, the Netherlands-based Swedish company, was the largest furniture retailer in the world with a presence in 44 countries around the globein countries like the US, the UK, Russia, the EU region, Japan, China, Australia, etc. However, it did not enter into the Indian market till 2013, though the company had had a presence in the country since the 1980s as a sourcing destination for its global stores. It had even opened its regional procurement office in Gurgaon, India, in 2007. In 2009, IKEA tried to enter the country to establish its stores, but its attempts were thwarted by Indias stringent Foreign Direct Investment (FDI) regulations. It again applied for permission for entry in June 2012, after India had made some changes in its FDI rules. However, IKEA had to wait another year, hitting many roadblocks on the way, before it was able to obtain the Indian governments approval to establish its stores. The company also had to tweak its global store model to fit the Indian FDI and sourcing outlines and Indian consumer preferences.
While Maeztu was tasked with tapping the Rs.*油925 billion Indian furniture and furnishings market, analysts were keenly waiting to see what strategies the furniture giant would come up with to win the highly-fragmented, price-sensitive Indian marketas many Indian middle-class families preferred to have their furniture custom-made from small retailers or local carpenters. No two Indian homes had the same kind of furniture as Indians in general showed more of an affinity for unique woodwork and designs rather than flat geometric furniture. Living room in India is different from any other countrya place for socializing and every activity is around the food. In some countries it is the kitchen and in some countries living room is used for sleeping,2油said Maeztu. More important was the fact the Indian customer did not prefer the concept of do-it-yourself (where buyers had to assemble different pieces of the product themselves), a key part o ...ikea retail 
ikea retail Kashish Sardana
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IKEA is a multinational group of companies that designs and sells ready-to-assemble furniture, appliances, and home accessories. Founded in 1943 in Sweden, IKEA has become the world's largest furniture retailer. IKEA aims to provide affordable home furnishings to many people through modern designs, self-assembly, and sustainability. It sources products from over 48 suppliers in India and has a presence in over 47 countries worldwide.Ikea power point2
Ikea power point2LAMullins
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- Steve Howard has been appointed as the new Chief Sustainability Officer of IKEA Group.
- Sustainability is a cornerstone of IKEA's strategic direction and helps drive innovation.
- Howard will help lead IKEA in providing a great quality of life for present and future generations through more sustainable and affordable products and solutions.tayyab.docx
tayyab.docxtayyab75
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IKEA has been the world's largest furniture retailer since the early 1990s. To make furniture affordable for many people, IKEA adopted a standardized marketing strategy and works with suppliers around the world. Initially, IKEA expanded successfully in Europe but struggled in the US, where products did not fit American needs and tastes. IKEA then localized its products and stores for each new market, such as making larger furniture for Americans. Today, IKEA pursues a cross-border strategy to balance low costs with strong responsiveness to local customer needs in global markets.Ikea rachael & rebecca
Ikea rachael & rebeccaMarcus McGowan
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IKEA began as a small business started by Ingvar Kamprad in Sweden in the 1940s selling various goods. It began focusing solely on furniture in 1951 and opened its first furniture showroom in 1953. IKEA designs its own affordable, functional furniture and sells flat-packed to keep costs low. It has experienced rapid international expansion since the 1970s and now has over 300 stores in more than 35 countries. However, IKEA has faced pressures from the global housing downturn which has reduced sales growth in some markets. It will focus future expansion on emerging markets to mitigate challenges in the Western world.Ikea
IkeaMegha Anilkumar
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IKEA is a Swedish multinational group that sells ready-to-assemble furniture and home goods. It has been the largest furniture retailer worldwide since 2008 and was founded in Sweden in 1943 by Ingvar Kamprad. IKEA is known for its modernist designs and eco-friendly simplicity. It owns and operates 415 stores in 49 countries and aims to offer affordable, well-designed home furnishings. While designed in Sweden, most IKEA products are manufactured elsewhere to keep costs low and are assembled by customers.IKEA Strategic Planning Assignment
IKEA Strategic Planning AssignmentBaker Khader Abdallah, PMP
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The document provides an overview of IKEA's strategic development history and outlines a strategic analysis for its future direction. Part 1 analyzes IKEA's past strategies including its low cost, high quality approach and international expansion. Part 2 conducts external PESTEL and Porter's Five Forces analyses of the furniture industry as well as an internal SWOT analysis of IKEA. Part 3 will identify strategic options and make recommendations for IKEA's future strategic path.Comparison of Marketing Mix of IKEA in Four Countries
Comparison of Marketing Mix of IKEA in Four CountriesFatima Arshad
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Report Contains Marketing Mix of IKEA. In this report there is comparison of 4Ps of IKEA in Four Countries i.e Sweden, UK, China and India.
This report is result of the efforts of four people.IKEA
IKEAPaulo Alves
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IKEA was founded in 1943 in Sweden by Ingvar Kamprad with a vision of providing well-designed, affordable home furnishings. In the late 1950s, IKEA began focusing solely on furniture and pioneered a new retail model of flat-packed furniture that customers assemble themselves, keeping costs and prices low. This innovative strategy enabled IKEA to grow rapidly and become the world's largest furniture retailer, with 287 stores globally by 2011 and annual sales of $24.7 billion. The document discusses IKEA's past growth and potential future strategic positioning as furniture retailing continues to evolve.Ikea
IkeaLokesh Kumar Verma
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IKEA is a multinational retail company known for its self-assembly furniture. It was founded in Sweden in 1943 by Ingvar Kamprad and is now headquartered in the Netherlands. IKEA uses a low-cost business model, sourcing materials locally and having customers assemble furniture themselves. This allows IKEA to offer affordable prices while maintaining quality. The company has expanded globally using standardized products and supply chains. However, it has also adjusted its strategies and products to local cultures in different markets like China. Today, most IKEA stores operate as franchises through agreements with the company.More from Sofalife (12)
School furniture
School furnitureSofalife
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The document discusses launching a new campaign called "Safeseats of Learning" to urge furniture manufacturers, specifiers, and education professionals to work together to improve school furniture. It notes that school furniture has not significantly developed or changed in 50 years and is often chosen based primarily on price over design or ergonomics. Speakers at the launch event called for innovation in school furniture design to better support learning, protect children's health by reducing back pain, and accommodate different body sizes as children grow. They argued that improved furniture could enhance both the learning and teaching environments in schools.Furniture polish.jpg
Furniture polish.jpgSofalife
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It is essential to polish wooden furniture yearly. There are three main types of furniture polish - aerosol sprays, liquid polishes, and semisolid pastewaxes. Aerosol sprays are the most convenient but can harm furniture with silicone polymers and contaminants. Liquid polishes like emulsions and oils clean well but effects don't last. Semisolid pastewaxes are best as they minimally harm wood and are long-lasting, requiring infrequent buffing which preserves the furniture.Furniture cleaning
Furniture cleaningSofalife
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Furniture cleaning requires care and consideration of the specific surface material. The easiest method is to keep furniture clean through gentle dusting with lint-free fabrics or vacuuming. For wood furniture, only clean if dirty and check that the finish can withstand cleaning agents before applying anything. Seek professional help for giltwood due to its water soluble finish. Test solvents on inconspicuous areas to determine their effects before full use. Hard wax can simplify maintenance.Moving household furniture
Moving household furnitureSofalife
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Moving household furniture safely requires careful preparation and execution. All obstacles should be removed to protect the furniture. Furniture should be lifted at its strongest points. When moving specific pieces like seating, tables, and clocks, there are important guidelines to follow for each. For seating, lift chairs by the seat rails and sofas from under the side frames using legs, not backs. For tables, lift by the apron, not the legs or top, to avoid damage. Padding should be used on legs to prevent chipping during movement.Moving household furniture
Moving household furnitureSofalife
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Moving household furniture safely requires careful preparation and execution. All obstacles should be removed to protect the furniture. Furniture should be lifted at its sturdiest points. When moving seating, lift chairs by the seat rails and not the back. For sofas, lift from under the side frames using your legs, not back. For upholstered chairs, lift from under the frame to avoid touching the upholstery. Tables should be lifted by the apron, not the legs or top, to prevent damage or parts coming loose.Moving household furniture
Moving household furnitureSofalife
油
Moving household furniture safely requires careful preparation and execution. All obstacles should be removed to protect the furniture. Furniture should be lifted at its strongest points. Specific items like seating furniture, tables, and clocks require attention when moving. Seating like chairs and sofas should be lifted by frame or rails, not the back, upholstery, or crests. Tables should be lifted by the apron, not the legs or top, to avoid damage. Padding should be wrapped around legs to prevent chipping.Moving household furniture
Moving household furnitureSofalife
油
Moving household furniture safely requires careful preparation and execution. All obstacles should be removed to protect the furniture. Furniture should be lifted at its strongest points. Specific items like seating furniture, tables, and clocks require attention when moving. Seating like chairs and sofas should be lifted by frame or rails, not the back, upholstery, or crests. Tables should be lifted by the apron, not the legs or top, to avoid damage. Padding should be wrapped around legs to prevent chipping.Furniture care
Furniture careSofalife
油
Regular care and maintenance is important to preserve wooden furniture. Stains and abrasions should be removed properly and regularly before damaging the overall piece. When cleaning, one should be careful with the type of product used and apply it gently according to the furniture material. Basic tips for furniture care include removing dirt and oils with a mild detergent, using mineral spirits to remove wax stains, filling scratches with padding lacquer applied in the direction of the grain, and immediately cleaning spills with lemon oil to avoid damaging the varnish.Yeni microsoft word belgesi
Yeni microsoft word belgesiSofalife
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Inegol, Turkey is a major center for the furniture industry. It has a long history of woodworking dating back to the early 20th century. Inegol provides raw materials from local forests at affordable prices for its large furniture industry cluster. Nowadays, Inegol controls over 35% of Turkey's furniture sector with over 250 large factories and 1,400 production centers exporting "Inegol Furniture" brands to over 160 countries worldwide. Inegol aims to capture $1 billion in annual furniture exports and become the European and Middle Eastern hub for the furniture industry.聴neg旦l furniture
聴neg旦l furnitureSofalife
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Inegol, Turkey is a major center for the furniture industry. It has a long history of woodworking dating back to the early 20th century. Inegol provides raw materials from local forests at affordable prices for manufacturers. Nowadays, Inegol controls over 35% of Turkey's large furniture sector and is a major exporter, shipping "Inegol Furniture" to over 160 countries worldwide. Inegol hosts the biannual MODEF furniture fair to showcase Turkey's furniture industry globally.聴neg旦l furniture
聴neg旦l furnitureSofalife
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Inegol, Turkey is a major center for the furniture industry. It has a long history of woodworking dating back to the early 20th century. Inegol provides raw materials from local forests at affordable prices for manufacturers. Nowadays, Inegol controls over 35% of Turkey's large furniture sector and is a major exporter, shipping "Inegol Furniture" to over 160 countries worldwide. Inegol has over 250 large factories and 1,400 production centers, making it Turkey's primary furniture production hub due to its access to raw materials and position near global markets.
Ikea
- 1. IKEA tosendlocalfurnitureabroad IKEA, theSweden-basedglobalretailchain, is preparingtolaunchgoodsproducedbyTurkishfurnituremanufacturersacrossinternationalmarkets, accordingto a top executive of thelocalunit. Turkey is one of theleadingmarkets in terms of yieldinggrowthfor IKEA. Wearealreadyplanningtoopentwomorestores in thenextfiveyears, in additiontothefive IKEA storeswealreadyhave here, said General Manager Fuat Atalay at a pressmeeting in Istanbul yesterday. WeaimtoexportTurkishfurniturewithSwedishdesignsandmarketing it globally, alongwithproductionfromSweden, Poland andRomania, Atalay toldthe Daily News. A fewmanufacturersareundergoing a qualitytestingperiodforthecompany, he added. TheSwedishfirmalreadyexports a number of Turkishproducts, includingceramics, china, textileproductsandaccessories. Total exports of Turkishproductsthrough IKEA reachedapproximately $500 millionlastyear, upfrom $200 million in 2003, accordingto Atalay. Weaimtoincreasethisvolumeto $900 million in five-years time, he said. ThecompanycouldeasilyreachthistargetifTurkishfurniturewereto be availablefrom IKEA shops in nearfuture. As of Novemberlastyear, the lira depreciationsupportedthecountrysoverallexportsperformance, particularly in thefurnituresector, Chief Economist of BGC Partners zg端r Altu said. Furnitureproduction in Turkey posted a 15.3percentrise in November, validatingthelevel of domesticeconomicactivityandsuccess in exportscomparedwiththesamemonthlastyear, Altu toldinvestorsrecently. However, Atalay saidthecompanywasaffectedbythelirasweakperformance as it depreciatedabout 18 percentlastyearagainstthe U.S. dollar. Still, wehave not changedourpricesannounced in Septemberlastyearfor 2012, he said.
- 2. Atalay saidtheSwedishcompanyperformsbetter in Europeanstorescomparedwiththose in Turkey, despite an ongoingeconomiccrisisacrossthecontinentandslowdown in domesticdemand. http://www.sofalife.com/read_blog/furniture-news/ikea-to-send-local-furniture-abroad-42.html