Ikea - Global Marketing Report
IKEA
Case Study Report
Tarek Salam & Maximilien Abrezol
Table of Content
1. Introduction 2 1.1. Ikea Company 2 1.2. Global Furniture Industry 4 1.2.1. World Furniture Industry’s Characteristics 4 1.2.2. World Industry Trends 5 1.2.3. Ikea’s main competitors 5
2. Question 1 8
3. Question 2 9
4. Question 3 10
5. Question 4 11
6. Outcomes 12
7. Bibliography 12
1. Introduction
1.1. Ikea Company
Ingvar Kampard, Elmtaryd Agunnaryd is what the abbreviation IKEA stands for. I.K representing the 17-year-old Swedish boy’s name that first founded the innovative orientated company, and E.K for the name of the farm and village in Sweden respectively, where he spent many years of his childhood. Ever since being established in 1943, IKEA has earned the title of the world’s largest furniture retailer, and the products being offered are portrayed to be of Scandinavian quality design, at affordable prices much like the Asian made products. Ingvar initially offered his products, beginning with basic products such as pens and jewellery, then started with the disassembled furniture that was packaged in the flat box concept they are known for, through a mail-ordering catalogue and distributed them using the county’s milk van. The first IKEA store was later opened in 1958 in Ingvar’s hometown, Almhult.
Their main products are Do It Yourself (DIY) concept furniture, as well as home accessories and Swedish delicacies. Ingvar accomplished his vision of affecting many people around the world providing them with affordable low priced products but of great quality. IKEA became the first furniture producer and retailer to expand internationally, and the empire that IKEA developed into began in Norway in 1963, this triggered an avalanche of stores opening across Europe, and then going cross Atlantic in 1985 by opening a store in Pennsylvania, USA. As of today, IKEA are present in 38 countries, with a massive fleet of 287 stores belonging to the IKEA group,
Case Study Report
Tarek Salam & Maximilien Abrezol
Table of Content
1. Introduction 2 1.1. Ikea Company 2 1.2. Global Furniture Industry 4 1.2.1. World Furniture Industry’s Characteristics 4 1.2.2. World Industry Trends 5 1.2.3. Ikea’s main competitors 5
2. Question 1 8
3. Question 2 9
4. Question 3 10
5. Question 4 11
6. Outcomes 12
7. Bibliography 12
1. Introduction
1.1. Ikea Company
Ingvar Kampard, Elmtaryd Agunnaryd is what the abbreviation IKEA stands for. I.K representing the 17-year-old Swedish boy’s name that first founded the innovative orientated company, and E.K for the name of the farm and village in Sweden respectively, where he spent many years of his childhood. Ever since being established in 1943, IKEA has earned the title of the world’s largest furniture retailer, and the products being offered are portrayed to be of Scandinavian quality design, at affordable prices much like the Asian made products. Ingvar initially offered his products, beginning with basic products such as pens and jewellery, then started with the disassembled furniture that was packaged in the flat box concept they are known for, through a mail-ordering catalogue and distributed them using the county’s milk van. The first IKEA store was later opened in 1958 in Ingvar’s hometown, Almhult.
Their main products are Do It Yourself (DIY) concept furniture, as well as home accessories and Swedish delicacies. Ingvar accomplished his vision of affecting many people around the world providing them with affordable low priced products but of great quality. IKEA became the first furniture producer and retailer to expand internationally, and the empire that IKEA developed into began in Norway in 1963, this triggered an avalanche of stores opening across Europe, and then going cross Atlantic in 1985 by opening a store in Pennsylvania, USA. As of today, IKEA are present in 38 countries, with a massive fleet of 287 stores belonging to the IKEA group,
Bibliography: * S. Hollensen, “Global Marketing: A decision-oriented approach”, Financial Time Prentice Hall, 5th edition. * "Facts and Figures 2012." IKEA.com. Inter IKEA Systems B.V, Visited on the 28th June 2013. * "Welcome Inside 2011." IKEA.com. IKEA, 2011, Visited on the 28th June 2013. * http://www.businessvibes.com/blog/global-furniture-industry-overview-2013, Visited on the 29th June 2013. * http://www.furnituretoday.com, Visited on the 29th June 2013. * http://www.legalserviceindia.com/company%20law/com.htm, Visited on the 29th June 2013. * http://www.ikea.com/ms/en_US/pdf/yearly_summary/ys_welcome_inside_2012.pdf , Visited on the 30th of June 2013. * http://www.ukdissertations.com/dissertations/business/ikeas-entry-into-south-america.php, Visited on the 30th of June 2013. * http://in.reuters.com/article/2013/03/07/ikea-expansion-india-china-idINDEE92603L20130307, Visited on the 30th of June 2013.