Ikea - Marketing in China
Autor: Joey Yuen • September 6, 2016 • Research Paper • 2,697 Words (11 Pages) • 707 Views
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Table of content
1. Introduction ---------------------------------------------------- | Page 3 |
2. Background ---------------------------------------------------- | Page 4 |
2.1 Store number and sales------------------------------------- | Page 4 |
3. Current marketing strategy in China ------------------- | Page 5-10 |
3.1 Product strategy --------------------------------------- | Page 5-6 |
3.2 Price strategy ------------------------------------------- | Page 6-7 |
3.3 Place strategy ------------------------------------------- | Page 8-9 |
3.4 Promotion strategy ------------------------------------ | Page 9-10 |
4. Recommendations -------------------------------------------- | Page 11-13 |
4.1 Repositioning ------------------------------------------ | Page 11 |
4.2 Localization ------------------------------------------- | Page 12-13 |
5. Conclusion------------------------------------------------------ | Page 14 |
6. Reference ------------------------------------------------------- | Page 15 |
- Introduction
IKEA, the largest furniture retailer in the world, well-know as its modern architectural designs for various types of appliances and furniture. “to create a better everyday life for the many people.” This is the objective of IKEA corporation, which offer a wide range of well-designed, functional home furnishing products at a low price that people will able to afford.[1]
IKEA is founded in Sweden in 1943 and star enter to China in 1998, through over 17 years’ experience in China market. In this assignment, we will focus on the differences of IKEA’s marketing strategies between China and its home country, Sweden and make some possible recommendation towards its weaknesses.
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2. Background
2.1. Store number and Sales
To evaluate the current situation of IKEA, the development speed of IKEA in China market are much slower compare to its competitor, such as B&Q which already opened 56 stores and Sogal which opened more than 800 stores in less than 15 years. As mentioned, there are only 18 IKEA stores in China. China is a country of 13 billon people with more than 600 cities, accord to the market size and population, limited stores of IKEA in China has restricted the development of IKEA, it become more difficult to raise the brand awareness and reputation among Chinese customer. According to the research1, IKEA is the 4th brand of China furniture market [2]
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