This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: I I nt roduction of I kea IKEA was founded in Sweden in 1943 by Ingvar Kamprad. The company name is a composite of the first letters in his name, and the names of the property and the village in which he grew up: Ingvar Kamprad, Elmtaryd and Agunnaryd. In the beginning IKEA sold pens, wallets, watches, jewelry and nylon stockings, or everything that Kamprad could sell for a lower price than his competitors. Furniture was first added to the IKEA product range in 1947 , and in 1955 IKEA began to design its own furniture. During the 1950s IKEA also started to sell furniture that was designed to be assembled by the customers. In 1965 the first department store was opened in Stockholm and the concept of self-serving became one of IKEA’s distinguishing characteristics. IKEA has grown rapidly in recent years to become one of the world's largest retailers of home furniture. From the following chart, we can see that the Ikea Group is expanding and continues its strong growth. In 2007 the Sales rose by 14 percent, and 21 more stores was opened in 11 countries. I I. Market Strategies As a retailer of home furniture, how can Ikea so successful? And what does Ikea do to be accepted and favored widely by customers? According to our text, I think the crucial factor is that they focus mainly on customers, which can be illustrated in their vision and business idea: The IKEA Concept: Next, I’ll explain to you how Ikea take measures to realize the customer value and provide products and services in the view of customers. And I’ll talk about it in three aspects: A. For the many people-- The vision of creating a better everyday life for as many people as possible constantly spurs IKEA to do everything a little better and a little simpler. Good design, good function and quality at the lowest prices ensure that we offer low price with a meaning....
View Full Document
- Spring '08
- Kea, Ingvar Kamprad, furni ture