To create a better everyday

Life for the many people

IKEA was foundedby Swedenamed Ingvar Kamprad In 1943

Their aim is manufacturehigh quality furniture ata very low price

“People have very thin wallets. We should take care of theirinterests”-Kamprad

1%-3% reductionannually in price

But How?

Do ityourself (DIY) delivery andassembly

Buys material in bulk Uses solar power

Store at a good distance outside of city

Great number of suppliers

•Furniture comes in boxes

•We have to assemble it ourselves

IKEA understands different socialand cultural factors in different countries

DIY strategy inCountries like US and UK

Delivery service in India and China

Building Customer Relationships

Builds customerloyalty

Post-PurchaseSatisfaction

Advertising Campaigns

Offers and Promotions

What else it can do?

Expand in poorer African and Asian countries

Expand Social media marketing

There is a need to raise the standard ofLiving in these third world countries

Low prices can help them lead a betterlife

PROS

Low costattracts consumers

Products arerememberedby names

Innovate productsaccording tothe need

Unforgettable shopping

experience

Ecofriendly and recyclable products

One stop destination for furniture

CONS

Far away from city

No home DeliveryCan prove costly

Service is limitedto shopping mall

GrowthIKEA faces stiff competitionfrom Amazon, Walmart, Target, Ebay, Costco

Retail stats

What leading magazines have to say?

Business week- “One stop Sanctuary for coolness” - “The quintessential cult brand”

Forbes -How IKEA Delights Its Customers

The Economist- The secret of IKEA's success

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SUMMARY

Background of IKEA Great quality furniture at affordable prices Recognize needs of the people Pros and Cons of its marketing strategy Advertising and Promotions Retail stats and competitors

DISCLAIMERCreated by Suyash Mulay,VIT Vellore, During the marketing Internship under Prof. Sameer Mathur