The Global Strategy of IKEA Essay Example | Topics and Well Written Essays - 500 words

The Global Strategy of IKEA - Essay ExampleIKEA has become one of the almost successful furniture retailers in the world. IKEA low-cost-approach to doing business and innovative marketing and brand identity has allowed IKEA to mold and convert their brand image and high society to become a lifestyle oriented company. IKEA was one of the pioneers towards globalization by offering furniture that was sold unassembled to its clientele therefore it could be shipped more steadfastly and economically and consequently sold at the lowest possible costs to their customers. The company carefully adapted their corporate structure, business model, and culture to maintain and prepare their brand image, while carefully adapting their product offerings and marketing to match the preferences, customs, and needs of their local clientele. IKEA has become much more than a furniture merchant, it embraces customers with lifestyle that embraces dandy taste and recognizes value. The company has thrived in the global market where others competitors have not succeeded in penetrating. The key strategy to IKEAs global success has been in retention in line with their original philosophy of success which has been to provide unique, functional, simplistic but beautiful furniture designs and products at a low cost. This unrelenting hunting of efficiency and frugality has permeated throughout the corporate culture and structure (Quickmba, 2011).