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This 7 page paper uses a case study of IKEA to explain its product strategy, its business model, it growth options and any potential changes to its marketing strategy. Bibliography lists 2 sources.
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7 pages (~225 words per page)
File: D0_HVIKEA.rtf
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its business model, it growth options and any potential changes to its marketing strategy. Overview Ingvar Kamprad founded IKEA in 1943 (the name comes from his initials, the farm he
was raised on, called "Elmtaryd," and his village "Agunnaryd") using money his father had given him. (Moon, 2004). Kamprad introduced furniture into IKEAs product mix in 1947, and in 1951,
he published his first catalog (Moon, 2004). In 1953, he opened the first furniture showroom, and in 1955, IKEA began designing its own furniture (Moon, 2004). This move, which would
be crucial to the IKEAs success, was unplanned; it was forced on the company when its suppliers were pressured into boycotting it (Moon, 2004). Thrown back on their own resources,
IKEAs designers came up with distinctive and innovative products that proved extremely popular (Moon, 2004). Another stroke of luck hit at this same time: one of the designers removed
the legs from a table so that it would fit into a customers car more easily, and when he did so, he created the idea of "flat packaging" (Moon, 2004).
Such packaging has been a hallmark of IKEA ever since (Moon, 2004). In 1956 IKEA began testing the concept of flat packaging to a much larger extent, reasoning that not
only would flat packages be easier for customers to handle, but they could get more items on a truck if they were flat (Moon, 2004). This is also the beginning
of the idea that customers would have to assemble the products themselves (Moon, 2004). In 1958, the first IKEA store opened in Almhult, and in 1966, the IKEA flagship store
opened in Stockholm (Moon, 2004). From those beginnings, IKEA expanded first in Europe and the U.K, and then into the United States, where they now have 27 stores, up
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