Noelle Lee's Blog

ikea.com

During the reading week, I visited IKEA with my friends as they wanted to purchase a table lamp. While I was in IKEA, I could immediately relate the materials taught in my marketing class and recognize how IKEA implemented the marketing mix to increase its customer value.

ikea.com

Product:

IKEA has a wide range of products and it has everything you need in your house (from bedroom furnishings to toys and whole kitchens). In addition, each type of products has many different styles. Take table lamp as an example, IKEA offers the very basic table lamp design as well as stylish table lamp that serve various functions.

Price:

I think that all the product prices in IKEA are quite reasonable. Quoted from IKEA’s website, “low prices are the cornerstone of the IKEA vision, business idea and concept”. It is obvious that IKEA is very concerned with charging a price that customers perceive as a good value for the products.

Place:

The products in IKEA are readily accessible for its customers. After visiting the showrooms, you can simply visit the furniture warehouse and collect the products that you would like to purchase. It is easy and fast for customers to obtain their products. Furthermore, IKEA has an IKEA Home Shopping service where customers can make orders by phone or online 24/7.

Promotion:

For promotion, IKEA publishes an annual catalogue which includes most products available in store as well as their prices. This catalogue allows IKEA to communicate with its customers about the value of its offering.