Analyzing the IKEA Strategy Case Study

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IKEA

What are some of the things IKEA is doing right to reach consumers in different markets?

The company enjoys the current magnitude of prosperity through a distinctive proposal of worth to customers. In particular, it offers innovative Scandinavian way of designing at very competitive prices. IKEA's vision is to generate a better day-to-day life for several people. Another differentiator that IKEA has undertaken is adaptability -- it provides products that are uniform but at the same time makes custom-made products on the basis of consumer inclinations and preferences that vary according to regions and demographics. For instance, when the personnel of the company realized that shoppers in the United States were purchasing vases as drinking glasses because they deemed IKEA's regular glasses to be too tiny to be used for drinking, they designed and developed bigger glasses. In addition, the company employs easy accessibility in the sense that its stores are situated at a reasonable distance from city centers; in addition, IKEA has a global presence (Capell, 2005).

What else could it be doing?

IKEA should improve its presence through better use of technology in different ways. One of them is for the business to take into consideration incorporation of online retail sales.

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The advancement of technology implies that items can be purchased online, which implies that IKEA will be able to increase its acceptance through improved reach and thereby, growth in its revenue. It can also undertake social media to increase the level of awareness. Another dependable strategy would be to offer additional discounts such as seasonal discounts, which will attract and appeal to more consumers. In addition, what IKEA can undertake is to expand its business operations to new, emerging markets such as Africa and Asia, where it is not yet a household name (Kottler and Keller, 2012).

IKEA has essentially changed the way people shop for furniture. Discuss the pros and cons of this strategy

The strategy employed by IKEA has its benefits. To begin with, owing to the extensive array of items displayed together with the arrangement of the shop set up in its distinctive style helps the consumers perceive all that is available easily. Consequently, the consumers might be enticed into purchasing items that they had initially not thought about or taken into consideration. Another benefit is that IKEA's well packaged and boxed products makes it convenient for the consumers to carry the merchandize;….....

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