Marketing Strategy Research in the Furniture: Case Study from IKEA

Research Article
Open access

Marketing Strategy Research in the Furniture: Case Study from IKEA

Jiali Ding 1*
  • 1 Mcmaster University, Hamilton L8s 4S4, Canada    
  • *corresponding author dingj27@mcmaster.ca
Published on 21 March 2023 | https://doi.org/10.54254/2754-1169/4/20221085
AEMPS Vol.4
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-17-1
ISBN (Online): 978-1-915371-18-8

Abstract

IKEA furniture is assembled like a giant Lego block, and foods such as hot dogs and ice cream cones are both delicious and inexpensive. On the market, there is no comparable store. It is noteworthy that IKEA is the first place that most people think of when they need furniture, but there are no other options available. This raises the research question of why IKEA’s marketing strategy is successful. IKEA’s success can be measured in three ways: the 4ps strategy, experiential marketing, and scene marketing. IKEA’s structure comprises the 4p’s: product, price, promotion, and placement. The success of IKEA’s marketing strategy doesn’t only depend on the 4P theory. In addition, the scene marketing strategy enables individuals to immerse themselves in the scenarios that IKEA creates for its customers, heightening their senses, touching, seeing, and so on. Then, using the experiential marketing strategy, IKEA lets people try out the benefits of its products. As a consequence, IKEA’s sales increased, and it became prosperous. Ikea’s success depends on this marketing. These strategies would not have made IKEA as successful if used alone. These marketing strategies work together to make IKEA profitable.

Keywords:

Furniture, IKEA, Marketing Strategy.

Ding,J. (2023). Marketing Strategy Research in the Furniture: Case Study from IKEA. Advances in Economics, Management and Political Sciences,4,318-324.
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References

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[7]. Mingxiao, Z.: Data-drive Scene Marketing Based on Consumer Insight. In: 9th International Proceedings on Proceedings, pp. 1–2. Publisher, Location (2010).

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[14]. NEWYORK Homepage, https://www.thecut.com/2017/03/45-percent-of-women-wont-enter-a-store-without-asale.html, last accessed 2017/3/27.

[15]. Kim, Y. K., Sullivan, P. : Emotional branding speaks to consumers’ hearts: the case of fashion brands. Fash Text.6(2), (2019).

[16]. THE SMART LOCAL Homepage, https://thesmartlocal.com/read/ikea-sale-june-2022/, last accessed 2022/6/20.

[17]. BUSINESS NEWS DAILY Homepage, https://www.businessnewsdaily.com/11334-experiential-marketingdefined.html, last accessed 2022/6/29.

[18]. HOPIN Homepage, https://hopin.com/blog/what-is-experiential-marketing, last accessed 2022/1/11.

[19]. Lianbi, L.: Scene Marketing in the era of big data. Journal of Physics Conference Series, 1744(4), 042189(2021)

[20]. CIW Homepage, https://www.chinainternetwatch.com/21600/scene-marketing-july-2017/, last accessed 2017/7/19.

Cite this article

Ding,J. (2023). Marketing Strategy Research in the Furniture: Case Study from IKEA. Advances in Economics, Management and Political Sciences,4,318-324.

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About volume

Volume title: Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ

ISBN：978-1-915371-17-1(Print) / 978-1-915371-18-8(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://www.icemgd.org/
Conference date: 6 August 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.4
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. WIKIPEDIA Homepage, https://en.wikipedia.org/wiki/List_of_countries_with_IKEA_stores#:~:text=IKEA%20is%20a%20multinational% 20group,stores%20operating%20in%2063%20countrie, last edited 2022/7/12.

[2]. STATISTIA Homepage, https://www.statista.com/statistics/1060053/number-of-ikea-storesworldwide/#:~:text=As%20of%20the%20end%20of,of%20458%20IKEA%20stores%20worldwide, last edited 2021/12/16

[3]. STATISTIA Homepage,https://www.statista.com/topics/1961/ikea/#topicHeader__wrapper. Last edited 2022/3/7

[4]. IKEA Homepage, https://www.ikea.com/ca/en/newsroom/corporate-news/ikea-canada-grows-sales-by-8-per-centto-usd2-39-billion-in-2018-pub547371c7, last edited 2018.

[5]. WIKIPEDIA Homepage, https://en.wikipedia.org/wiki/E._Jerome_McCarthy, last edited on 2022/3/27.

[6]. Schmitt, B.: Experiential Marketing. Journal of Marketing Management, 15(3), 53-67(2010).

[7]. Mingxiao, Z.: Data-drive Scene Marketing Based on Consumer Insight. In: 9th International Proceedings on Proceedings, pp. 1–2. Publisher, Location (2010).

[8]. QUERYSPROUT Homepage,https://querysprout.com/ikea-target-market-age-demographics-gender-salary-more/. Last accessed 2022/7/11.

[9]. QUERYSPROUT Homepage, https://querysprout.com/ikea-statistics/, last accessed2022/7/11.

[10]. https://www.ikea.com/ca/en/?gclid=Cj0KCQjwidSWBhDdARIsAIoTVb1AhkbmESFwdtefJJs1kbHuViFEkLPNuT7 LCfAhuTO8-yo114lHBk4aAphVEALw_wcB.

[11]. https://www.homedepot.ca/product/nexera-346005-queen-size-platform-bed-natural-maple/1001031681.

[12]. WIKIPEDIA Homepage, https://en.wikipedia.org/wiki/Off-White_(company), last accessed 2022/7/18.

[13]. FIRST INSIGHT Homepage, https://www.firstinsight.com/press-releases/first-insight-reveals-consumermarkdown-mania-and-its-effect-on-retailers, last accessed 2016/1/17.

[14]. NEWYORK Homepage, https://www.thecut.com/2017/03/45-percent-of-women-wont-enter-a-store-without-asale.html, last accessed 2017/3/27.

[15]. Kim, Y. K., Sullivan, P. : Emotional branding speaks to consumers’ hearts: the case of fashion brands. Fash Text.6(2), (2019).

[16]. THE SMART LOCAL Homepage, https://thesmartlocal.com/read/ikea-sale-june-2022/, last accessed 2022/6/20.

[17]. BUSINESS NEWS DAILY Homepage, https://www.businessnewsdaily.com/11334-experiential-marketingdefined.html, last accessed 2022/6/29.

[18]. HOPIN Homepage, https://hopin.com/blog/what-is-experiential-marketing, last accessed 2022/1/11.

[19]. Lianbi, L.: Scene Marketing in the era of big data. Journal of Physics Conference Series, 1744(4), 042189(2021)

[20]. CIW Homepage, https://www.chinainternetwatch.com/21600/scene-marketing-july-2017/, last accessed 2017/7/19.

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