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Essay / Research Paper Abstract
This 5 page paper analyses the marketing strategy used by IKEA in the UK market, the positioning, segmentation, the development of competitive advantage through brand image and the marketing campaigns that have helped IKEA become a major brand of flat pack furniture. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEIKEA02.rtf
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Unformatted sample text from the term paper:
future. The marketing strategy has been one that emphasises a strong brand image with standardised products across the areas of operation, but with a more customised approach to the marketing
so campaigns can appeal to the market in which they are located. For IKEA this has been a very successful approach in the UK. Ikea is the third largest company
for household furniture in the UK with only MFI and DFS ahead of this company (Euromonitor, 2003). However, this is in a very fragmented market where the leader; MFI, has
only a 12% market share (Euromonitor, 2003). The company also has the resources to continue the current expansion and is making good progress, for example, the company has just gained
planning permission 28,000 square meter store in north London (Planning (UK), 2004). This will also increase quality within the company and help reduce the overcrowding that is taking place in
the nearby Brent Cross store (Planning (UK), 2004). However this expansion is only possible due to the way in which the demand is stimulated due to the marketing.
The company has a long term goal in the UK, in 2002 a five year marketing plan was outlined. The market IKEA had entered was one very different form the
home markets and in years before the brand had become known as a young brand, but did not have a board appeal. The general perception of the market was one
where flat pack furniture was seen as substandard, and the reputation of other flat pack furniture retailers was of poorer quality. IKEA set about developing a strategy that would allow
this perception to be altered. The way this strategy was developed reflected the way that IKEA had altered the value chain to make the computer also a source of information
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