Table of Contents page Introduction............................................................................................................................2 1. Mission and Objectives.......................................................................................................... 2 2. Company’s Overview..................................................
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Introduction. The IKEA Group‚ one of the world’s top furniture retailers‚ has emerged as the fastest-growing furniture retailer in America. From 1997 to 2001‚ the revenues of IKEA doubled from $600 million to $1.27 billion in five years so the history proofed that it seems possible for IKEA to reach this goal. However‚ IKEA faced several challenges with the market entrance: American’s mind-set‚ competition from established furniture retailer and different customer’s preference etc. To address to
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Date of submission: 3rd December‚ 2012 IKEA is a privately held‚ international home products company that designs and sells ready-to-assemble furniture such as beds‚ chairs‚ desks‚ appliances and home accessories. The company is the world’s largest furniture retailer‚ founded in Sweden in 1943 by 17-year-old Ingvar Kamprad‚ who later became one of the richest people in the world. The company’s name is an acronym comprising the initials of the
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The core of the IKEA strategy is in offering a widerange of products that were simple‚ well-designed and priced to be accessible to the majority of people. Over time‚ IKEA’s “democratic design” principles made it one of the world’s most prominent furniture retailers‚ but in 1985‚ when IKEA opened its first store in the United States‚ replicating the model that had successfully captured consumers’ attentions in Europe‚ IKEA was met with mixed reviews: Customers found the products unappealing and out-of-touch
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difficult to maintain mid- to upper price points * National Furniture Company (biggest PLFD competitor) stepping up advertising and initiating price reductions in response to MH/PLFD merger and aggressively pursuing a strategy to exploit the uncertainties associated with the pairing (p.5) * PLFD core customers more fashion-conscious than MH core customers and considered themselves to be trend setters (p.5) * A major furniture chain which carries PLFD products has expressed displeasure with
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LOM-Assignment Questions & Case : Chad’s Creative Concepts [pic] Q2: Consider Amazon.com‚ whose Web site enjoys millions of “hits” each day and puts customers in touch with millions of services and products. What are Amazon.com’s competitive priorities and what should its operations strategy focus on? The competitive priorities of Amazon are • Variety ( it offers millions of services and products)‚. • Low-cost (online sales)‚ • consistent quality • delivery speed In
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nature of the company business? What are their product lines? IKEA is the biggest furniture retail company that offer variety type of design to its customer. The nature of IKEA business is Offering a wide range of well-designed‚ functional home furnishing products at prices so low that as many people as possible will be able to afford them. IKEA was the world’s largest furniture retailer ‚It sold inexpensive furniture of Scandinavian design. Considering that IKEA stores carry a product line of approximately
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Exercises for Chapter 1 1. Ming started a business with $3‚000 cash. He used $1‚200 of the cash to buy office equipment. (a) Find the assets‚ capital and liability of Ming’s business. Assets: Cash ($1‚800) & Office equipment ($1200) Capital: $3‚000 Liability: $0 (b) What is the amount of total resources in Ming’s business? A. $3‚000 B. $6‚000 C. $1‚800 D. $4‚800 2. ‘Total assets must equal to total capital plus total liability.’ Do you agree? Why? Yes‚ resources owned by a firm (assets) must be either
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& HL Option C: CAD/CAM (C.5.9 – C.5.17) Options SL & HL Option C: CAD/CAM (C.5.9 – C.5.17) Furniture C.5.9 Outline a piece of furniture that can be manufactured by CAD/CAM or by a more traditional process. Consider flat-pack furniture compared to traditional cabinet-making techniques. | C.5.10 Compare the two manufacturing processes for a chosen piece of furniture. Refer to skills involved‚ efficiency of production‚ quality control‚ precision‚ flexibility and economics.
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CONTENTS OPENING 1 I. COMPANY AND PRODUCT 2 1. Company introduction 2 2. Reason for choosing indoor furniture 2 II. U.S MARKET ANALYSIS 2 1. GENERAL MARKET 3 1.1. Geographic environment: 3 1.2. Political environment: 3 1.3. Legal environment: 3 1.4. Economic environment: 4 1.5. Cultural environment: 5 2. FURNITURE AND WOOD INDUSTRY 5 III. SWOT ANALYSIS 6 IV. PRELIMINARY STRATEGY FOR MAINTENANCE AND EXPANSION 8 1. PRODUCT STRATEGY 8 1.1
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