Marketing Mix Example - Ikea

Marketing Mix Example – Ikea

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.

ProductReady to Assemble Furniture, Kitchen Appliances, and home accessories. They have a wider variety of items and the number of products is approximately 9,500.
PriceLow 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).
PlaceAs 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.  
PromotionTV advertising, sponsorship, newspaper and magazine advertising, and many other elements

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Manoj Kumar

A thoughtful analytical marketer

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