International Marketing of Ikea
Table of Contents
Table of Contents 1
1. Executive Summary 1
2. Introduction 1
3. Internationalization 2
4. Foreign Market Segmentation and Targeting 3
5. Environmental Analysis 5 5.1 SWOT Analysis 6 5.2 Environmental Analysis of Host Country- China 8 5.3 From the perspective of IKEA International Group 10
6. International Marketing Objectives 11
7. Foreign Market Entry Strategy 11
8. Product/Service Mix Preparation 14 8.1 Product adaptation 14 8.2 Product publicity 15 8.3 Product price 15 8.4 New product development 16 8.5 Market expansion 16 8.6 Service Mix 16
9. Conclusion 17
Appendices 18
References 22
1. Executive Summary
This report emphasizes on the analysis of the overseas expansion of the global brand named IKEA, who has already built a competitive advantage in the international furniture competition. It has the largest part of market share and got huge success in Europe which leads it to expand to Asia and other market of the world. Analysis of all the environmental aspects in China shows that China is the best country to invest in, although there are still some weaknesses and threats exists.
2. Introduction
IKEA is the world 's largest furniture retailer which founded in 1943. In 2009, the world 's leading marketing research organizations of Interbrand selected into "Global 100 Most Valuable Brands" list, the IKEA ranked 28th for about 12 billion U.S. dollars in brand value, which is constantly increasing. IKEA stores were founded in the most important shopping areas of 240 stores in Europe, the North America, Asia and Africa. IKEA’s success in the retail industry can be attributed to its vast experience in the retail market, product differentiation, and cost leadership.
This report will analysis the international marketing strategy of IKEA as follows aspects: internationalization, foreign market segmentation and targeting, internal and external business environment based PEST and SWOT analysis,
Table of Contents 1
1. Executive Summary 1
2. Introduction 1
3. Internationalization 2
4. Foreign Market Segmentation and Targeting 3
5. Environmental Analysis 5 5.1 SWOT Analysis 6 5.2 Environmental Analysis of Host Country- China 8 5.3 From the perspective of IKEA International Group 10
6. International Marketing Objectives 11
7. Foreign Market Entry Strategy 11
8. Product/Service Mix Preparation 14 8.1 Product adaptation 14 8.2 Product publicity 15 8.3 Product price 15 8.4 New product development 16 8.5 Market expansion 16 8.6 Service Mix 16
9. Conclusion 17
Appendices 18
References 22
1. Executive Summary
This report emphasizes on the analysis of the overseas expansion of the global brand named IKEA, who has already built a competitive advantage in the international furniture competition. It has the largest part of market share and got huge success in Europe which leads it to expand to Asia and other market of the world. Analysis of all the environmental aspects in China shows that China is the best country to invest in, although there are still some weaknesses and threats exists.
2. Introduction
IKEA is the world 's largest furniture retailer which founded in 1943. In 2009, the world 's leading marketing research organizations of Interbrand selected into "Global 100 Most Valuable Brands" list, the IKEA ranked 28th for about 12 billion U.S. dollars in brand value, which is constantly increasing. IKEA stores were founded in the most important shopping areas of 240 stores in Europe, the North America, Asia and Africa. IKEA’s success in the retail industry can be attributed to its vast experience in the retail market, product differentiation, and cost leadership.
This report will analysis the international marketing strategy of IKEA as follows aspects: internationalization, foreign market segmentation and targeting, internal and external business environment based PEST and SWOT analysis,
References: Carpell, K 2006, Ikea’s New Plan for Japan. Retrieved April 28, 2008, from http://www.businessweek.com/globalbiz/content/apr2006/gb20060426_82182 IKEA Annual Report 2002, www.ikea.com Ikea United Kingdom (2005) www.ikea.co.uk Accessed 23rd Nov 2005 Li Juan (2009). New war for IKEA. Journal of Nandu. Svend Hollensen(2004), Global Marketing, third edition, Peaeson Educatuion Limited, p30