Swot Analysis Of Ikea

• IKEA’s VISION:
To create a better everyday life for many people.
• IKEA’s MISSION Statement:
To offer a wide range of well designed, functional home furnishing at prices so low that as many as people possible will be able to afford them.
• MISSION of IKEA’s employees:
‘Gain necessary knowledge to develop oneself and skills so that work and life becomes more meaningful.’
• IKEA’s Market Positioning:
Your partner in better living. We do our part you do yours. Together we save money.

2.2 Goals and Objectives

• To produce affordable products for customers.
• Better life for those who cannot afford expensive products
• Ensure that customer finds what they are looking for in the store.
• Low prices always

2.2.1 S.W.O.T Analysis:
• Strength:
Powerful image of brand
Swedish Design
Wide range of products and styles
Cost effective/affordable
Furniture is easy to ship & assemble
Strong global sourcing capabilities
Extra facilities: Restaurant and Day care facilities
• Weakness:
Relatively few locations
Store layout- Hassle for those who are looking for specific articles only.
Swedish design may not attract American market
Furniture is not built to last lifetime
Advertising does not allure young people.
Assembling furniture by oneself may not appeal to certain group of consumer.

• Opportunities:
Educating consumers through IKEA advertisement.
IKEA can expand into markets of many more different parts of the world.
Increasing online presence and selling via internet (E-Commerce).
Use popularity amongst college going people to attract potential young people.
Different types of stores such as outlets or high-end labels.

• Threats:
Indirect competition from Walmart, Home-Depot, Pier.
The glo...

... middle of paper ...

...e drilling and banging going on”. That is the testimony of one of the IKEA competition winner, who lived into the store for three days. What is a better way to create awareness and loyalty to the brand IKEA, if not making people speaking out about you? The blue and yellow brand creates the story in people`s mind, exiting them with its extraordinary and extravagant stunts. IKEA creates an emotional bond between its products and the shoppers.
• Swedish heritage:
IKEA built its reputation around the meaning of being “Swedish”. Sweden means perfectionism, safety and “a better life for all”. This meaning is well attached to the products and accentuated by naming the items with Swedish and Scandinavian names.
• Lifestyle:
IKEA sells the whole concept linked to a lifestyle. A world of people with sophisticated taste and awareness of the latest and best trends and designs.