The objective of this marketing report is to recommend a marketing solution that will help IKEA achieve growth in India based on geographical information, analysis of current situation, identifying the problem and providing a solution for the problem.
Analysis of Current Situation
IKEA is well known brand globally. They have emerged as a big retailer of home appliances and house hold furniture. IKEA has focused on creating value by providing good quality and fashionable designs at economical costs (Dudovskiy, 2012).Following is the SWOT analysis (see Table 1).
IKEA SWOT Analysis
Strengths Weaknesses Opportunities Threats
IKEA products are made from recycled and environmentally friendly materials. They possess strong company …show more content…
These individuals have high level of education and income. They all own a smartphone, computers, tablets and highly decorated houses. Their major occupations are in engineering, medical, technology and finance. People are budget conscious and not afraid of taking financial loan from banks or their employers. They value the low price on quality products with good customer service. People are open minded and enjoy online shopping. People associated with multiple social networks including Facebook, LinkedIn, Twitter and media channels (Index of Economic Freedom, …show more content…
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Ringstrom, A. (2013, March 7). One size doesn 't fit all: IKEA goes local for India, China. Retrieved November 29, 2014, from http://in.reuters.com/article/2013/03/07/ikea-expansion-india-china-idINDEE92603L20130307
Stych, M. (2013, May 10). International analysis: Ikea 's plans to enter India win cabinet approval. Retrieved November 29, 2014, from http://www.retail-week.com/topics/international/international-analysis-ikeas-plans-to-enter-india-win-cabinet-approval/5048899.article
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