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    Describe IKEA's Marketing Mix Strategy, Which Makes IKEA The "Most Valuable Brand"

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    Shamita Sivakumar
    IKEA's marketing mix strategy focuses on product, price, promotion, and place. IKEA has a wide range of affordable, easy to assemble furniture and home goods. They reduce costs and prices through efficient operations and DIY assembly. IKEA heavily promotes through catalogs and advertisements to build their brand and stay top of mind for customers.

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    Describe IKEA's Marketing Mix Strategy, Which Makes IKEA The "Most Valuable Brand"

    Uploaded by

    Shamita Sivakumar
    71 views2 pages
    IKEA's marketing mix strategy focuses on product, price, promotion, and place. IKEA has a wide range of affordable, easy to assemble furniture and home goods. They reduce costs and prices through efficient operations and DIY assembly. IKEA heavily promotes through catalogs and advertisements to build their brand and stay top of mind for customers.

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    SAQ 3

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    IKEA's marketing mix strategy focuses on product, price, promotion, and place. IKEA has a wide range of affordable, easy to assemble furniture and home goods. They reduce costs and prices through efficient operations and DIY assembly. IKEA heavily promotes through catalogs and advertisements to build their brand and stay top of mind for customers.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    71 views2 pages

    Describe IKEA's Marketing Mix Strategy, Which Makes IKEA The "Most Valuable Brand"

    Uploaded by

    Shamita Sivakumar
    IKEA's marketing mix strategy focuses on product, price, promotion, and place. IKEA has a wide range of affordable, easy to assemble furniture and home goods. They reduce costs and prices through efficient operations and DIY assembly. IKEA heavily promotes through catalogs and advertisements to build their brand and stay top of mind for customers.

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    © All Rights Reserved
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    of 2

    QUESTION 3

    Describe IKEA’s marketing mix strategy, which makes IKEA the “Most Valuable
    Brand”.

    IKEA’s brand building strategy that is focused on design with its unique philosophy is
    the success behind IKEA as the Most Valuable Brand and to achieve this, IKEA had
    played a number of mix stratagems focusing on 4P’s – Product, Price, Promotion and
    Places and practicing holistic marketing as a whole as IKEA realizes that everything
    matters.

    When it comes to IKEA’s products, IKEA has a wide range to cater to different customer
    sections. Its enormous product range includes nearly everything that is needed to
    furnish homes. Offering a wide choice of furniture flamboyances at affordable prices is
    what differentiates IKEA from its competitors. IKEA studies the culture and the
    background of the countries people’s lifestyle before setting up their stores and designs
    of products. IKEA’s range of products includes from outdoor furniture, entire household
    products, children merchandises, beds and mattresses, decoration to storage items, just
    to name a few. Shopping at IKEA alone, a home can be furnished completely. Their
    product comes with warranty and returning damaged items is accepted for free or
    minimal charges, which makes consumers comfortable and trusting the brand even
    more. The packaging of IKEA’s products are well retained and easy for customer to
    open and assemble and comes with clear and easy instructions as they are DIY
    concept.

    Affordable Pricing is what makes IKEA different from other companies in furniture
    business. They are product is worth every penny spent with great quality, easy to
    assemble and transport as well as long lasting. To achieve its pricing strategy, IKEA
    had studied and applied various approaches to offer affordable end product by reducing
    operational costs in storage, assembly, transportation and more.

    IKEA spends humongous amount of investments in promotion, advertisements and in


    sales force to promote their product and to make sure the brand stays in the minds of its
    customers forever. Advertisements like catalogues are sent to customers house
    address to create a personnel relationship which is not done by many other competitors
    due to its high cost. Their ads are created to be catchy to customers and are
    innovatively designed to stand out from the rest.

    IKEA chooses the right spot based on demographics, psychographics and behavioral
    information of a certain population prior to setting up its store. The place selected suits
    the densest area, right target of its customers, easy access for transportation and
    necessary supplies are readily accessed.

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