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IKEA_Marketing research

IKEA_Marketing research - Compare IKEA with any major...

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Compare IKEA with any major competitor of home furnishings such as Rooms to Go, Ashley or any other using the four P’s of marketing. Give examples. Place: The size of the store is huge comparing to its competitor; it is 309,000 square feet. It would take hours to be able to go through their showrooms and marketplace. Their idea is to get you trapped once you enter but at the same time they give you a map to find your way. Most customers are lost but they don’t know it because they are going with the flow of what the IKEA’s design team created for them. Price: I always hear that IKEA has low prices with good quality and value for money, but obviously it does not apply to all products. For example, a sofa that looks beautiful inside the store but in reality it is not comfortable to sit on more than twenty minutes. What about when watching the presidential election debate for one hour and a half? I don’t think I will be able to decide which side I‘m on. Now this previous offer is for $1,398.00 dollars where same amount of money in RoomsToGo can get me a full set for my living room and more comfortable. IKEA business idea is to create good design that works and has a price that everybody can afford. I believe this is a model that is verbally transferred throughout their marketing campaigns and applied on some products but not all. I think this strategy works on both sides. Customers who intend to spend less and only would buy inexpensive products would be able to find what they need and yet feel good about their purchase. On the other hand, customers who are not
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