IKEA Case study report

IKEA Case study report - GABRIEL HUSTON IBS 605 BUSINESS IN...

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GABRIEL HUSTON IBS 605 BUSINESS IN THE GLOBAL ECONOMY ANILA ANTHONY PEREIRA SECTION NWW 21 MARCH 2017 IKEA ASSIGNMENT C ASE S TUDY 2
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IKEA Group, the Swedish self-assembly furniture chain, is one of the largest known retailers which designs furniture sold in pieces inside a flat box, ready for the buyer to put them together. It was founded in the year 1943 by Ingvar Kamprad. They use simple cost cutting methods that do not compromise on the quality of the products, keeping the prices of products on a low as well. The flat packaging helps to save space while storing and transporting which further helped to cut the costs. [Les11] Home accessories, bathroom accessories and kitchen appliances are also sold at IKEA. IKEA is a value driven company who wants to provide quality products at affordable prices for its customers. People should not be forced to compromise on style due to expensive prices on furniture and that is what IKEA has to offer its customers. Making low priced and well-designed functional home furniture is their key business concept, providing cost- effective choices available for customers. IKEA’S vision goes beyond offering home furnishing products to its customers.[Vis17] “To create a better everyday life for the many people”, this is the IKEA vision. Our business idea is “to offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them”.
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