Ikea: Much More Than a Furniture Store, A Lesson in Successful Marketing
We’ve all been to one, and probably dined in one too (Swedish meatballs, enough said). But as MBS students in Professor Mark Burgess’ Market Assessment and Analysis course, we learned much more than what new products they carry. Ikea is a pivotal example of what works in the marketing realm.
With a central focus around the consumer and a belief that homes are a reflection of the individual inhabiting them, Ikea knocks it out of the park when it comes to their marketing
strategy. The secret of Ikea’s success is contained in its corporate “thrift” culture centered around lowest cost and sustainable ideals. Not only do they offer an immense range of products for the lowest cost, but are known for their clean advertisements with a few bold colors and modern minimalistic images of home décor.
The MBS program through experiential and “real-world” learning is successfully educating the next group of industry professionals in an engaging and hands on environment.
As a first semester MBS graduate student, I believe this field trip was an invaluable experience. I had never looked at Ikea as anything more than a furniture store and a quick (also cheap and tasty) meal. But I now look at it through the goggles of a marketer, with attention to brand image, content marketing, and product mix. If you want an example of marketing at its finest look no further, Ikea is your answer and furniture destination.