IKEA Case Study
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MKTG522_-_Week_5_assignment_IN_DOC_SHARE.docx
Review the IKEA Case Study and use the case study guidelines below to perform a brief analysis, identify the problem, suggest alternative solutions, and make recommendations for the implementation of the solution that you believe is the best fit.
What do you think? What would you do? What problems do you foresee and how will this impact IKEA’s Swedish concept? Please recommend a marketing solution that will help IKEA achieve growth in either India or China based on your understanding of the place P and how delivering the value is evolving.
Case Study Guidelines
1. Analysis of the Current Situation—The proper context must be established for the case analysis. Please provide a SWOT analysis in a SWOT box.
· Research: Identify the key environmental factors such as industry trends, level of competitiveness, customer perceptions, legal considerations, and evolving technology at the outset of the analysis.
· Summarize the key aspects of the internal environment of the firm in terms of strengths and weaknesses and the external environment in terms of opportunities and threats to the firm in your SWOT box.
2. The Target Market—Identify your target market: Who is your target customer? In terms of demographics and lifestyle, what aspects of consumer behavior provide insights into this group of customers?
3. The Problem—Identification of key problem(s). It is easy to identify symptoms of problems while failing to identify the real problems. For example, declining sales may be identified as a problem, when the decline is only symptomatic of more complex problems that are harder to observe. Make a clear distinction between what is identified as the problem and the symptoms of the problems.
4. Alternative Solutions—Identify and evaluate alternatives. Develop reasonable alternatives and evaluate them in terms of feasibility, projected costs advantages, disadvantages, and potential short-term and long-term consequences.
5. Recommended Course of Action—Select a course of action and provide the appropriate strategies and tactics to accomplish the chosen course. Justify your choice in terms of your analysis. As most practitioners know, charting a course of action can be a difficult job, but implementation is the true challenge. Produce a workable action plan that would have a reasonable probability of success in the implementation phase.
This assignment will be a presentation using PowerPoint. Develop a set of at least five (5) PowerPoint slides to present the findings of your analysis. Some additional research is expected. The IKEA website is highly informative. Use APA format and include an additional slide with your sources. Assume that your analysis will be presented to the IKEA senior management team and that your job depends on it!