IKEA is a Swedish-founded multinational group that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other useful goods and occasionally home services. It has been the world’s largest furniture retailer since at least 2008.
|Product||Ready to Assemble Furniture, Kitchen Appliances, and home accessories. They have a wider variety of items and the number of products is approximately 9,500.|
|Price||Low Priced. Ikea priced their product with ending in 99 in sweden and had a great success. then it implemented it in all it’s store. It became an icon of IKEA’s low-price ideology. The reason behind it was that the price $9.99 is more attractive than $10. Why? because we tend to read from left to right and have a tendency to put more emphasis on left numbers than right. Therefore, when customers see the price of ‘$3.99’, they believe that it is ‘About $3’ (Science Daily 2009).|
|Place||As of November 2017, IKEA owns and operates 415 stores in 49 countries. Ikea stores are located out of city but they are large and have restaurants, food shops etc.|
|Promotion||TV advertising, sponsorship, newspaper and magazine advertising, and many other elements|