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Category > Management Posted 20 Feb 2018 My Price 7.00

globalization of product

Part 1 1 of 1 CLOSING CASE IKEA-The Global Retailer slipcowers, IKEA may be the worlds most successful global retailer. China. To reduce the cost of the cotton suppli- Established by Ingvar Kamprad in Sweden in 1943 when IKEA has concentrated production in four core he was just 17 years old, today the home furnishi er in China and Europe. The resulting efficiencies a global cu brand with from these global sourcing decisions enabled IKEA to some 40 percent superstore has grown int the price of the Klippan by in 33 countries hat host 410 million shoppers 2005. a year and generate of €14.8 billion ($17.7 billion). between 1999 and suc sales is Despite its standard formula, to achieve global and rumored to be the still the privatecompany, had adapt its offerings to the tastes worlds richest man. IKEA different IKEA IKEAs target market is the global middle class who preferences of consumers in 1990s when it entered are looking for low-priced but attractively designed first discovered this in the early soon found that its and household items. The company applies the United States. The company resonate with the same basic formula worldwide Open large ware- European-style offerings didnt always centime- house stores festooned in the blue and yellow colors American consumers. Beds were measured with which of the Swedish flag that offer to 0,000 items, not the king, queen, and twin sizes kitchen cabinets to candlesticks. Use wacky Americans are familiar. Sofas werent big enough. promotions to drive traffic into the stores. Configure wardrobe drawers were not deep enough glasses were of the stores so that customers have too curtains short, and sice pass through each department to get to the checkout. didnt fit in the kitchens. Since then, IKEA has rede- Add restaurants and child facilities so that shop- signed its US offerings to appeal to American con- pers stay as long as possible. Price the items as low as sumers, which has resulted in stronger sales. The same possible. Make sure that product design reflects the process is now unfolding in China, where the company simple, clean Swedish lines that have become IKEAs plans to establish 10 stores by 2010. The store layout trademark. And then watch the results-customers in China reflects the layout ofmany Chinese balkonies, who enter the store anning to buy a$40 coffee table and since many Chinese apartments have KEAs Chinese stores include a balcony section. car also has had to adapt its locations in China, where and end up spending $500 on everything units to of its by 2 ownership is still not In the West, IKEA IKEA aims to reduce the price offerings generally located in suburban areas and have to 3 percent per which requires relentless atten- In China, stones are located near lots of parking space. tion to cost cutting. With a network 300 and IKEA offers delivery ser 53 countries, KEA devotes considerable attention public transportation, their pur to finding the right manufacturer for each item. Con- vices so that Chinese customers can get sider the companys best-selling Klippan love seat. chases home. Designed in 1980, the Klippan, with its clean lines, Case Discussion Questions bright colors, simple legs, and compact size, has sold How has the globalization of markets benefited 1.5 million units since its introduction. IKEA l. originally manufactured the product in Sweden but of production bene. soon transferred production to lower-cost suppliers in How has the globalization Poland. As demand for the Klippan grew, IKEA then 2. teach you about the decided that it made more sense to work with suppliers 3. What does the IKEA story in each of the companys big markets to avoid the costs limits of treating the entire world as a inte associated with shipping the product all over the Today there are five suppliers of the frames in Europe, plus three in the United States and two in How has the globalization of markets benefited IKEA? How has the globalization of product benefited IKEA? What does the IKEA story teach you about the limits treating the entire world as a single integrated global marketplace?

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Maurice Tutor
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Status NEW Posted 20 Feb 2018 09:02 PM My Price 7.00

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