Ikea: Building A Global Brand
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Transcript of Ikea: Building A Global Brand
![Page 1: Ikea: Building A Global Brand](https://reader036.fdocuments.in/reader036/viewer/2022062312/55626e4cd8b42ae87d8b5720/html5/thumbnails/1.jpg)
Nina Beinart, Greg Bodenlos, Ranu Rajkarnikar, Dan Silverman
Building a Global Brand…
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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INTERNATIONAL HISTORY• Founded IKEA in 1943 in
Sweden• First store openings outside
Scandinavian territory in 1973 (SUI) and 1974 (GER)
• First U.S. opening in 1985 (Philadelphia)
• UK and HK openings in 1987
• Opened 27 new stores in 2007 in 7 regions
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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GLOBAL REACH
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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IKEA’S KEYS TO SUCCESS
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
• Democratic Design• Vertical Integration• Strong Brand Image
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DEMOCRATIC DESIGN
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
•Offer a wide range of home furnishings of good design and functionality
•Balance of form, functionality, and low price
•The price tag is “designed” first
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VERTICAL INTEGRATION
•1,300 suppliers and 27 distribution centers
•Operations cover every step of production
•Enables the group to save cost at each stage
•Delivers high-quality furniture at lower prices than its competitors
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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STRONG BRAND IMAGE•Cost-Consciousness•Sensible Design•Unconventionality•Social/Environmental Awareness
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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THE IKEA EXPERIENCE
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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THE IKEA BRAND MESSAGE
“IKEA has everything you need to live and make a home”
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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CONSISTENCIES AMONG GLOBAL STRATEGY
• Perceived as a value brand, following their “affordable solutions for everyday living” tagline
• Image of being hip and modern, has been called “a one-stop sanctuary for coolness”
• Maintain Swedish influence• Store experience• Highly anticipated store
openingsFRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION
STRATEGY QUESTIONS
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DIFFERENCES AMONG GLOBAL STRATEGY
• Advertising through the media– Commercials: “Tidy
Up” campaign (France)• http://www.youtube.co
m/watch?v=MM-Xz7W5SBM
– Winter Sale (USA)• http://www.youtube.co
m/watch?v=eTOVaG36xJE
• Adapting products to national markets
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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NON-TRADITIONAL MARKETING
• PR Stunts and “Guerrilla Marketing”– Used to promote new
campaigns
“Everyday Fabulous at IKEA”
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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NON-TRADITIONAL MARKETING
• PR Stunts and “Guerrilla Marketing”– Campaign promotes IKEA making
everyday things “fabulous”
•This tactic puts their promise into action
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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NON-TRADITIONAL MARKETING
• PR Stunts and “Guerrilla Marketing”– Often used to promote new store
openings
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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NON-TRADITIONAL MARKETING
• PR Stunts and “Guerrilla Marketing”– Very interactive, unusual, and memorable– Geared towards young
hip crowd
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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NON-TRADITIONAL MARKETING
• PR Stunts and “Guerrilla Marketing”– Tailored to different nations
•Europeans often use balconies for storage
•This makes the brand more relevant to its audience
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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NON-TRADITIONAL MARKETING
• PR Stunts and “Guerrilla Marketing”– Japanese value design and cleanliness
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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LOCATION STRATEGY
• Entering markets where suppliers are readily available
• “Supply is the bottleneck”• Focus on China (Asia overall) as an
emerging market
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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ROADMAP
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS
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DISCUSSION QUESTIONS
1. For the future, as IKEA expands further into new markets, will it be more beneficial for the brand to stick to a consistent strategy, or to adapt more to local market needs?
2. What do you think of IKEA’s non-traditional approaches to its marketing strategies? What are the potential risks associated with these bold initiatives within the global market?
3. How will IKEA as a brand appeal to its current customers as they grow older? Would it make sense to extend the brand towards a more upscale product line, or would this alienate its current customers?
FRAMEWORK KEYS TO SUCCESS GLOBAL STRATEGY NON-TRADITIONAL MARKETING LOCATION STRATEGY QUESTIONS