SOUTHEAST UNIVERSITY A summary of the case study: IKEA invades America Submitted to: Nazmus Sadekin Lecturer‚ Dept. of Economics‚ Southeast University Submitted by: Tasnuva Amreen Khan - 2011020106012 (Group Leader) Sayeed ahmed Khan - 2011020106023 (Group coordinator) Amit Roy - 2011020106027 Ferdousy Rahman - 2011020106021 Md. Anis Uzzaman - 2011020106016
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IKEA is a well-known global brand with hundreds of stores across the world. In order to improve performance‚ it must assess its external and competitive environment. This will reveal the key opportunities it can take advantage of and the threats it must deal with. IKEA responds to both internal and external issues in a proactive and dynamic manner by using its strengths and reducing its weaknesses. Through this‚ IKEA is able to generate the strong growth it needs to retain a strong identity in the
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other competitors will find it hard to enter the online market and compete with them. Ansoff Matrix Introduction The Ansoff Growth matrix is a tool that helps businesses decides their product and market growth strategy. Ansoff’s product/market growth matrix suggests that a business’ attempts to grow depend on whether it markets new or existing products in new or existing markets. The output from the Ansoff product/market matrix is a series of suggested growth strategies that set the direction
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IKEA 1. A firm advantage of IKEA is they have a dedicated supplier network so they are able to offer quality furniture at low prices. IKEA reaps huge economies of scale from the size of its stores and the big production runs necessary to stock them since the same furniture is sold all over the world. Since IKEA saves‚ they are able to match their rivals on quality and still manage to undercut their furniture by 30 percent. A country advantage is they have more than 2‚300 suppliers in 67 countries
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ansoff matrix The market penetration strategy is the least risky since it leverages many of the firm’s existing resources and capabilities. In a growing market‚ simply maintaining market share will result in growth‚ and there may exist opportunities to increase market share if competitors reach capacity limits. However‚ market penetration has limits‚ and once the market approaches saturation another strategy must be pursued if the firm is to continue to grow. Market development options include
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Ansoff Growth Matrix is very important strategy in business industry. Any company can measure how achieve their market in this strategy. It consists of four kinds of strategies depending on products and markets. There are a) Market penetration: existing products and existing markets b) Product development: new products and existing markets c) Market development: new markets and existing products d) Diversification: new markets and new products. Today‚ McDonald is really competitive
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Maslow’s Hierarchy of Needs In the most basic sense‚ Maslow’s hierarchy identifies five primary areas of needs experienced by most humans. Beginning with physiological‚ or basic life survival‚ needs‚ the model progresses in subsequent steps through safety and security‚ love and belongingness‚ self-esteem and finally self-actualization. Maslow postulated that as man meets the needs at the first level‚ he moves toward the next‚ then the next and so on. More recent studies have added levels to the
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Figure 2: Ansoff matrix of Google growth strategies Then going to market penetration that is a low-risk strategy as businesses choose to focus on selling exisiting products in existing markets‚ to increase their market share of current products. This
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STRATEGIES Ansoff Matrix - 4 STRATEGIES FOR GROWTH The Ansoff Growth matrix is a tool that helps businesses decide their product and market growth strategy. Ansoff’s product/market growth matrix suggests that a business’ attempts to grow depend on whether it markets new or existing products in new or existing markets. The output from the Ansoff product/market matrix is a series of suggested growth strategies for the business and helps them decide what direction the business wants to take. Ansoff used
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Introduction to the Ansoff matrix The Ansoff product/ market matrix is a tool that helps businesses decide their product and market growth strategy. Ansoff’s product/ market matrix suggests that a business’ attempts to grow depend on whether it markets new or existing products in new or existing markets. The traditional four box grid or matrix Ansoff model Alternative Ansoff style matrix A revised version of the Ansoff matrix featuring a 3×3 or nine box grid or matrix. History – The Product
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