In today’s world of far ubiquitous aestheticism, home decor is nowhere left behind, when it comes to owning trendiest spaces, coolest interiors and a yes a well loaded kitchen with appliances of today. IKEA is a brand that nails just those in form of energy, space and cost saving solutions to​ our ever growing need for furniture in modest​ amount of spaces​. Let’s look into some of the more interesting facts bolted to this brand of today:
  • IKEAis a multinational group, headquartered in the Netherlands, that designs & sells ready-to-assemble furniture, kitchen appliances and home accessories. It was founded in Sweden in 1943 by Ingvar Kamprad.
  • IKEA has its presence in Europe, Asia-Pacific, Middle East etc.
  • They have implemented a successful pricing strategy which includes pricing their product with price ending in 99 only. for e.g. such as $3.99 or $9.99. The basis of pricing for IKEA is value i.e. low prices or no-frills pricing.
  • Taking part in CSR initiatives helps them to promote their products. They rely heavily on social media like Google+, Facebook, Twitter handles etc. as 70% of their promotions are through social media sites.
  • IKEA uses OOH (Out Of Home) advertising for promoting their products, i.e. by high engagement in outdoor campaigns. IKEA promotes their products in crowded places like streets of Paris, metro stations in shanghai etc. Billboard-fitted wardrobes were placed by IKEA in selected outdoor locations in Vienna. People passing by were encouraged to slide its door open to assess IKEA’s solutions to fit many items into the wardrobe.
  • The best known channel is the IKEA catalogues, which is developed by IKEA Communications through which they communicate with customers regarding their offers. They have over 200 million catalogues.
Source: http://www.marketing91.com/marketing-mix-of-ikea/

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Kartik Deshpande

[/third_paragraph][third_paragraph]  [/third_paragraph][third_paragraph]                         Posted by:

Yash Rathod


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