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The success of Ikea

The success of Ikea. Suzanne Bishop Cecile Ouzet Marion Delplace Lemuel Morisson Amandine Payerne Baron. Outline. Raisons d’être Business practices Culture philosophy Expectations for the future. Business Practices. Flatpacking : low prices Store design:

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The success of Ikea

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  1. The success of Ikea Suzanne Bishop CecileOuzet Marion Delplace LemuelMorisson Amandine Payerne Baron

  2. Outline • Raisons d’être • Business practices • Culture philosophy • Expectations for the future

  3. Business Practices • Flatpacking: lowprices • Store design: • size : economy of scales • location: far fromcities • design: ideas for yourown home • flow: makethe costumer visit all the store • Product innovation • «hot dog » products • back off products • retroactiveneed = lessmarketresearch

  4. Business Practices • Timing: • Whenthey enter the market: no competitors • Moderne design becomingpopulare Catalogue: • Propagandaweapon • More copy than bible

  5. Culture/ Philosophy • Risktaking and acceptance of mistakes • « makingmistakesis the priviledge of the active » • Being frugal • « Money spentuneeded,is a disease » • Self-improving ethos • Energetic and hardworking • « lazy people are not Swedish » • Self fulfilment • « self assemblyistool of evangelism »  • IKEA Effect: consumerswillpay a premuim for do-it-yourselfproductsexceptwhentheyfail;

  6. Culture/ Philosophy • Creating an experience for their customer • Once customers speak your language; they are hooked • Store layout is an interactive and commited experience • Swedish orderliness

  7. Expectations for the future • Aging population • Competitors: more and more propose low prices • Customers services: make the customers come back • Sucession by 3 sons

  8. thanks

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