Develop a better understanding of the IKEA brand by conducting research on the brand's history as well as its current state.
Respond to the questions below. You should demonstrate an advanced understanding of consumer behavior topics in your responses.
Questions:
- What does IKEA do best to connect with its core consumers? Describe their core segments in terms of: 1) demographics, 2) psychographics, 3) sociocultural, and 4) psychological variables. 2. What are some of the things IKEA is doing to reach consumers in different markets (i.e., lifestyle, geography, etc.)? What else could IKEA do to be even more successful? 3. IKEA has essentially changed the way people shop for furniture. Discuss the pros and cons of their strategic approach, especially as the company plans to continue to expand globally in emerging markets? 4. Are there any strategic partnerships IKEA should consider, and why? What companies make sense from an alignment perspective? What are the benefits and risks for IKEA in pursuing these strategic partners? 5. How do customers' new capabilities affect the way IKEA markets its business? 6. What brands are positioned in direct competition with IKEA? How can IKEA use Customer Relationship
Management (CRM) advances to better position itself?
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