ourse Name: Master of Business Administration

Module: Global Marketing and Digital

Business (MS70087E)Prepared by: Amila PereraStudent
Number (UWL Registration Number): 21462334Assessment
task 1: Individual reportAssignment Name: An Analysis of
global marketing and onlinebusiness practices of IKEALecturer
Name: Gayan JayasingheWord Count: 2748

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Table of Contents

1.0
Introduction ....................................................................................................
................ 32.0

Organizational profile and Industry

Analysis .................................................................... 42.1

Company Background .....................................................................................

........ 42.2 Porters five forces analysis
–
USA ............................................................................ 53.0

Situational Analysis .......................................................................................

................... 63.1 PESTILE Analysis
- USA ............................................................................................. 63.2
SWOT analysis
- USA ................................................................................................ 74.0

Analysis on Global presence of

IKEA ................................................................................ 84.1
Internationalization
Theories .................................................................................. 84.2 Cultural
Factors .......................................................................................................
94.3
Standardized or adapted .............................................................................
.......... 104.4 National
Competitiveness ..................................................................................... 115.
0

Marketing
Activities of IKEA .........................................................................................
.. 135.1 Segmenting and
targeting ..................................................................................... 135.2 Posi
tioning ............................................................................................................ 1
45.3 Branding and consumer
trends ............................................................................. 146.0

Online
Presence of IKEA...........................................................................................
...... 156.1 Digital marketing and e-
commerce........................................................................ 157.0

Recommendations ...........................................................................................
.............. 187.1 Key areas
for Improvement ................................................................................... 188
.0

Conclusion ........................................................................................................
............. 199.0

References.......................................................................................................
.............. 20
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3
1.

0 Introduction
The Author has selected retail industry due to its significance in
being a major contributor tothe world economy. To analyze its
global marketing practices author has specifically selected
acompany which falls under furniture retail industry. Furniture-
retailing has seen a continuousgrowth during the past decade.
(Weichenberger, 2018) This is mainly due to companiesapplying
their marketing techniques on various e-commerce platforms and
social media toreach the customers.
The company that has been chosen is IKEA which is world’s largest
furniture retailer since 2008. (Mcfarlane, 2020) The host country
used is USA.The composition of the assignment includes six main
chapters where the first being a briefintroduction on IKEA
for which an analysis is done by using porter’s five forces analysis.
Forsecond chapter, an analysis is done through PESTILE and
SWOT analysis. Third chapterevaluates
the home country’s national advantage to
IKEA by using
porter’s diamond model and
appropriate internationalization theories are discussed. The
following two chapters emphasizes
on the company’s marketing strategies and it’s online presence.
Finally the author
concludes byproviding suggestions on areas for improvement.
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2.

0 Organizational profile and Industry Analysis

2.2 Company Background
IKEA is a Swedish multinational company founded In 1943 by
Ingvar Kamprad which specializesin manufacturing and selling
home furnishing appliances, ready-to-assemble
flat packingfurniture, home accessories, kitchen products and
office appliances. (Loeb, 2012) It gradually
developed into one of the world’s largest private
-
held companies and has been the world’s
largest furniture retailer since 2008. (Mcfarlane, 2020) By the
end of financial year 2019, thereare 433 stores worldwide spread
in 52 countries which employees over 211,000 workers and in2019
has recorded sales revenue of EUR 41.3 billion. This is almost 10
times more than what itrecorded 25 years ago. (IKEA.com,
2019)With the evolution of digital technology, tendency among
consumers for online shopping hasincreased prompting many
companies including IKEA to adapt to these changes and
expandtheir e-commerce platforms to reach the wider
market.IKEA also set an ambitious goal to be a fully
“
circular
”
and entirely climate positive business by2030 meaning that it
aims to use only renewable and recycled material. (Malin Nordin,
2019)The Author intends to analyze these aspects on IKEA and
provide an insight on factors to beimproved.
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2.2 Porters five forces analysis
–
USA
Force Factors Impact
Threat of new entrants(Low)
High capital investment needed to compete with IKEA inglobal
scale.+Vast experience required to identify needs andexpectations
of the target market.+New entrants have difficulty benefitting
from economies ofscale currently experienced by IKEA+Access to
distribution channels is difficult since IKEA has astrong
relationship with all their stakeholders.+Existing high competition
between top market players willdiscourage new entrants.+
Threat of substitutes(Moderate)
IKEA has a strong brand name and loyal customers.+IKEA
products have great quality and affordable price.+Some
substitutes available in the market and are of decentquality.-
Bargaining power of buyers(Moderate)
Less concentration of buyers since IKEA has a largecustomer
base.+Due to availability of substitutes, customers may switch.-
No significant threat of backward integration. +
Bargaining power of suppliers(Low)
Many suppliers in the market. Therefore less concentration.+Raw
materials are less different therefore low switchingcost to IKEA.
+Threat of forward integration is low.+
Furniture retail Industry is important for all suppliers. IKEA’s
performance/profitability affects the suppliers.+
Rivalry among competitors(High)
Existing competitors operate in large scale therefore theybenefit
from economies of scale.-High fixed costs involved therefore
companies make everyeffort to maximize its revenue causing
intense rivalry.-High capital investment causes exit barriers to be
high.-
Compiled by Author.Sources: (IKEA.com, 2019) (craft, 2020)
(Klima, 2017) (Yohn, 2015) (architecturelab.net, 2019)
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6
3.

0 Situational Analysis
3.1 PESTILE Analysis
–
USA
The factors stated below are rated as (+3, +2, +1, -1, -2, -3) to
indicate the positive or negative impactthey have on IKEA
Variable Factors Impact
Political
Second largest democracy in the world. Democracy is crucial for
good economic performance. (Wood, 2018)+2Strong bilateral
relationship between USA and Sweden. (U.S. Departmentof State,
2019)+2Upcoming presidential election may cause
political instability for a shortperiod due to possibility of
government change. (Hongyu, 2020)-1
Economical
Often ranked high in ease of doing business index. (Doing Business
, 2019) +2Labor costs are usually high. -3Current financial crisis
emerged due to covid-19 virus. (Wolf, 2020)-3Has the highest
level of household disposable income. (OECD, 2019) This
increases people’s spending.
+2
Socio-Cultural
Third largest population in the world. (The World Bank, 2019) +3Hi
gh
household income changes people’s quality of life such as health,
education, interest towards leisure activities and buying habits
change.+2
Technological
Second largest ecommerce market in the world. (Lipsman, 2019) +3
Highest research and development spending country in the world
(Heney,2020) allowing companies access to advanced technology.
+1Ranked third in the world by population actively using a
smartphone.(newzoo, 2019). This is favorable for ecommerce
businesses.+2
International
USA and Sweden are members of several international
organizationsnamely UN, WTO, IMF which is favorable to
IKEA. (U.S. Department ofState, 2019)+1USA has top retail
companies operating in global scale causing toughcompetition.
(craft, 2020)-3
Legal and regulatory
Minimum wage laws remain same since 2009. (Dept. of Labor, 2020
) +1USA ranks first in global intellectual property index thus
providingprotection from infringement. (Hartman,
2020)+2Consumer protection regulations exist at both federal and
state level.(hg.org, 2020)-1
Ecological and environmental
USA lags behind in material recycling whilst IKEA encourage
people to useproducts made from renewable and recyclable
materials.(generalkinematics.com, 2020)-2Weather conditions are
severe and frequent in USA causing difficulties for companies.
(Shieber, 2019)-3
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3.2 SWOT Analysis
–
USA
Strengths Weaknesses


Largest furniture retailer worldwideand over 70 years of

experience inindustry.


Unique brand image of IKEA whichrepresents Swedish culture,

heritageand cuisine.


Product range, differentiation, quality,and affordability compared

tocompetitors.


Focuses on CSR projects, environmentand use of recyclable

material forproduction.


Financially strong and continuouslyprofit-making.



Lapses and delays in online customersupport. (Ashley, 2020)



Diversification has causedcomplications to maintain samestandards

in every country.


Low cost, durable material must besourced.



Perception of new customers onquality due to low price.

Opportunities Threats


Growing interest among consumers foronline shopping.



Ever-changing lifestyle of people.



Rapidly emerging markets such asBrazil and Vietnam are great

prospectsfor future investment.


Rapid growth in new technology.



Consumers’ growing interest for green

products is favorable for IKEA sinceusing recyclable material will
reduceproduction costs.


Impact of current financial crisiscaused due to Covid-19


Anticipated political instability in USAdue to upcoming elections.


The risk that local competitors mayreceive better tax privileges

orsubsidies from government in responseto financial crisis.


Tough competition faced due tocompeti

tors’ efficient e
-commercestrategies.

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4.

0 Analysis on Global Presence of IKEA

4.1 Internationalization Theories
Uppsala internationalization model
This model states that entry into new markets is done by making
small incremental steps.(Hollensen, 2011) It states that firms
start their businesses abroad in nearby markets wherepsychic
distance is less and only gradually expand to other countries by
gaining experience.
The transaction cost analysis (TCA) model
This Theory states that firms Internationalize by way of
internalizing through direct investmentwithin its own boundaries
(subsidiaries) in order to reduce the transaction costs that
are beingincurred. (Hollensen, 2011) This Theory is linked to
the Internalization theory.
Network model
Network model assumes that companies are dependent on
other companies which are referred
to as “networks” and this relationship can be used as a link to
markets in other countriesthereby facilitating companies to
internationalize. (Hollensen, 2011)
Most appropriate theory
When firms decide to internationalize, the responsibility
of decision makers is to choose thestrategy they need to follow in
order to achieve their objectives.
IKEA opened it’s first store in Sweden in 1953 and from there it
expanded i
nternationallystarting from nearby countries in Scandinavia. First
store outside Sweden opened in Norway in1963 and Denmark in
1969 (inter.ikea.com, 2020) similarities between these countries
were a
crucial factor behind IKEA’s initial success
when it internationalized. This internationalizationprocess of
IKEA has been slow but it is clear indication that it wanted to
incorporate experienceand knowledge of the markets, its culture
and by learning psychic distance in new marketstaking in minimum
risks before they take a step further. On account of above stated
points it isapparent that IKEA initially adapted Uppsala
Internationalization model to expand globally.
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4.2 Cultural Factors
The Author has used Hofstede
’s
model to illustrate the cultural factors of home country andhost
country.Source: (hofstede-insights.com, 2020)
317152953784091624626680102030405060708090100PowerDis
tanceI n d i v i d u a l i s m M a s c u l i n i t y U n c e r t a i n t y Avoid
anceLong TermOrientationIndulgenceS w e d e n U S A

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4.3 Standardized or Adapted
In this analysis the Author intends to evaluate if the marketing
mix of IKEA is standardized oradapted in the host country.
Marketing Mix

IKEA’s
marketing strategy has not been very different compared to home
country howeverwhen they first started operations in USA, they
faced slight difficulties such as currencydifferences when
importing material. Leading to increase in costs, People in USA
demandingbigger beds and closets. (Valerie Chu, 2013) ,
Bed dimensions marked in centimeters while mostAmericans are
familiar with terms such as queen, king, and twin sizes. However
IKEA quicklyfixed these minor differences (Milne, 2013) and it is
understood that IKEA mostly used thestandardized marketing
strategies and less adaptation for the host country.
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11
4.4 National Competitiveness
To analyze the national competitiveness, the Author has
used porter’s diamond model which is
an excellent tool to provide an insight on competitive advantages
Sweden has provided.
Porter’s Diamond Model

Factor Conditions
Cultural values of Sweden have a s
trong influence on IKEA’s business setup, colors of the logo,
Swedish themed restaurants inside the store and product design.
Therefore having a workforceat home country, knowledgeable in
these aspects is a competitive advantage. When IKEAexpanded to
other countries they had to educate employees on these cultural
principles by wayof special training programs. (IKEA.cn, 2020)
Demand conditions
The Swedish market is smaller in size but demand for IKEA
products from Swedish consumershave been positive and they are
loyal to IKEA brand mostly because its inexpensive and of
goodquality. Conducting customer satisfaction surveys has also
helped IKEA to make improvementsand to ensure they offer
products as demanded by their customers. (IKEA.com, 2019)
Relating and supporting Industries
In early days, cartel activities of suppliers in Sweden led IKEA to
look for suppliers overseas thusoutsourcing their production.
(inter.ikea.com, 2020) This is an area where the home countryhad
not been much of an advantage to IKEA.
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Firm strategy, structure and rivalry
IKEA’s owner wanted to have a long term approach by creating an
independent ownership
structure strongly influenced by its Scandinavian style of informal
and non-bureaucraticmanagement approach. (IKEA, 2013)
The competitive price pressure created by IKEA caused it’s rivals
to force the domestic suppliers
to avert the deliveries leading IKEA to outsource its production.
(IKEA, 2013)
Support by Government and chance
IKEA has been of more significance to government as much as the
support the government haslent to IKEA. Swedish government
uses IKEA to brand Sweden as a nation of big innovation andbigger
businesses. (Christensen, 2014) This creates publicit
y for IKEA as well therefore it’
s awin-win situation for both.One significant chance events is the
remarkable growth of Sweden after Second World War andthe
postwar housing boom which immensely benefitted IKEA.
(Kristoffersson, 2015)
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13
5.

0 Marketing Activities of IKEA

5.1 Segmenting and Targeting
IKEA is a B2C category company. They operate under following
segments and their targetingattributes are shown below.
Types of Segments Market Variable Targeting Attributes
Geographic
Countries USA and other countriesRegion Sub-urban
Demographic
Age Age 20 - 45Gender Both male and femaleIncome Upper-
middle, Middle and lowincomeMarital Status Newly married and Si
ngleindependent
Psychographic
Lifestyle Indoor oriented, supportivetowards eco-friendly
products.Just married and starting afamily, Freshmen
studentsAttitude Enthusiastic, Positive,Independent
Behavioural
Brand loyalty High loyalty and switchersBenefits Cost effectivene
ss, Quality, Aftersales servicesUser status Potential, First-
time and RegularusersCompiled by Author based on findings in
analysis.

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5.2 Positioning
IKEA positions itself as a furniture retail company known for its
good quality products ataffordable prices. (IKEA.com, 2019)
IKEA’s competitors vary by country proving they do not
have strong competitors operating in a global scale except for
local competition. (craft, 2020)
IKEA’s
position among competitors in USA is reflected in the perceptual
map shown below.
5.3 Branding and Consumer Trends
IKEA wants itself to be viewed as a company offering unique
Swedish themed products whichare affordable and good in quality.
They have not changed this approach when theyinternationalized
since it is their strength and what they are known for. Therefore
IKEA’s
branding strategy in USA has not been very different to what
IKEA implemented in othercountries they operate. The consumer
trends in USA have been changing rapidly over the
years,integrated mainly with the accelerated growth
in technology. How IKEA adapted to thesechanges will be further
discussed below.
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15
6.

0 Online Presence of IKEA

6.1 Digital Marketing and E-commerce
The increased usage of internet along with technological
advancements and new innovationsrapidly developing each year,
major retail businesses have embraced digital marketing and e-
commerce platforms for their businesses.IKEA has also adapted
these technological changes. It launched it
’
s first website in 1997 inSweden and Denmark and E-shopping was
launched in the year 2000 allowing customers toshop online.
(IKEA.com, 2019)With more people spending time online, sales
from online shopping grew rapidly over the yearsand today
IKEA’s
E-commerce market has expanded to 52 countries. (Jitpleecheep,
2019)In 2019 IKEA recorded online sales revenue of USD 2.5 bn
(ecommercedb, 2020)
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The majority share of online sales came from USA followed by
Germany and France.(ecommercedb, 2020)Even though IKEA
dominates the furniture industry across the globe, when It comes
to theironline activity they face strong competition. Below
diagram illustrates the total number of visitsby customers for
each competitor
’s website
.
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In addition to e-commerce activities, IKEA use other digital
media to reach the customers.Particularly social media channels
such as Facebook, Twitter, Instagram and Youtube. IKEA hasover
170 profiles dedicated for almost each country they operate.
(unmetric, 2020)Since many people nowadays spend more time
using smartphones than any other electronicdevice, IKEA also
have dedicated mobile apps where people can download and
receivenotifications on promotions, discounts, news and
events. Further they have also addedinteractive features to them
such as augmented reality and virtual reality where users are
ableto see and determine how the products would look and fit
in their homes instead of the oldfashioned way of reading
catalogues. (Erkilic, 2019)
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18
7.

0 Recommendations
7.1 Key areas for improvement
Based on the analysis done above the author recommends the
following:


Since IKEA’s strategy is cost

-effectiveness they need to source supplies more fromemerging
markets also since they target customers in middle-income
category it wouldalso be potential markets for expansion.


Need to simplify product names depending on the markets. This

would be easier forcustomers to remember the products.


Even though product quality has remained satisfactory, the brand

perception is slowly
becoming “cheap”
among new customers since products are low priced. IKEA need
tocreate brand awareness with regard to quality by methods
appealing to customers.

The author noticed
IKEA’s
ineffectiveness in behavioral retargeting. A system whereonline
advertising targets people based on their past internet activity.
IKEA couldpartner with companies like Criteo, Google, Adroll to
upgrade this feature.


It is noticed that there are delays responding to customer queries

which are raised viasocial media and IKEA e-shopping websites.
Therefore IKEA need to improve their onlinecustomer support.
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19
8.

0 Conclusion
IKEA persist as the leader in furniture industry for decades since
they have been continuouslyadapting to economic, political, social,
demographic and technological changes globally. In this
assignment the author has highlighted IKEA’s
stance both in USA and worldwide by evaluatingthese factors
affecting the company internally and externally. Success of IKEA
was madepossible due to their commendable global marketing
strategies which paved the way for it to bewhat they are today
and to reach it’s objective to create a better everyday life for
people.

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20
9.

0 References
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