Marketing Strategies of Ikea

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Assignment for Principles and Practice of Marketing

Marketing analysis for IKEA
























Name: Christodoulou Ourania

Student Number: 139037511

Course: MSc Marketing

Module: MN7281 - Principles and Practices of Marketing

Semester: Autumn 2013



WORD COUNT: 3.787


Table of contents

  Table of contents 1

1. Introduction: 3
  1.1 Brief history of the development of IKEA, marketing challenges. Synopsis and brand development. 3
  1.2 Challenges of IKEA 4
2. The Marketing Environment 5
  2.1 The microenvironment 5
  2.2 The Macroenvironment: 7
3.   Segmentation 9
4.Marketing Mix of IKEA 11
  4.1 Product: 11
  4.2 Price: 11
  4.3 Promotion 12
  4.4 Place 13
  4.5 The marketing mix as a whole 13
5. Recommendations and Industry Analysis 14
6. References 16
7. Appendix 19
  7.1 PESTEL ANALYSIS 19
  Political factors: 19

  Economical factors: 20

  Social factors: 20

  Technological factors: 21

  Environmental factors 21

  Legal Factors: 22

  7.2 SWOT analysis: 22

  Strengths: 22

  Weaknesses: 23

  Opportunities: 23

  Threats: 24

8. References of the Appendix 24







Principles and practice of marketing


1. Introduction:


1.1 Brief history of the development of IKEA, marketing challenges. Synopsis and brand development.



      IKEA is international low cost furniture, home furnishings and house wares retailer broadly known for its wide range of affordable and stylish high-quality products. The company’s identity is resembling its commitment to provide good design at low prices or in other words the IKEA’s three core values ‘product design, consumer value and clever solutions’. There are 243 stores globally in 34 countries. Among these stores; 216 are under the control of the IKEA group and the remaining 27 are franchisees.

      It took IKEA almost six decades to be a...