Example Of Standardization Of Ikea - 1381 Words

The debate about standardization and adaptation for international markets has continuously attracted more attention from multinational companies for several years. The case of IKEA has however tried to help me in understanding the argument involving these two marketing strategies as applied in the international markets. In global marketing strategy, standardization involves selling products or offering services which are similar, with the same advertising and promotional methods, pricing and location strategies in different countries of the world. On the other hand, adaptation involves selling products or providing services that have various features based on the different markets in varying nations to satisfy the human needs or wants†¦show more content†¦Despite the measures of ensuring that the business maintains a uniform product approach across the globe, the management has assured that it creates different catalogs with different languages to cater for different market targets. For instance, the company prints 212 million records which are in 32 languages and 67 versions to ensure that they satisfy the needs of consumers who have different cultures. This strategy assists the company to have a more significant market share thus improving its sales volume and profit margins. Moreover, it facilitates the company in analyzing the individual market requirements to cater for consumers thus making the consumers feel recognized (Spielmann Delvert, 2014). IKEA has to help me to understand that it would be better for a multinational firm to collaborate the two marketing ways to enjoy many benefits and remain relevant in the ever-changing technological world of business. Cultural differences remain to be one of the critical issues affecting companies that are operating in different countries in the world because marketing strategies that work well for one country may turn to be the worst in a different state. Therefore, multinational firms must undertake an in-depth research to ensure they employ the best business strategies before moving to new markets. Companies who want to penetrate in the international markets must understand whether the potentialShow MoreRelatedInternational Advertising : Theory And Approach925 Words   |  4 Pagesbetween the different approaches to international marketing and the issues related to standardization and adaptation, as well as an analysis of promotional variations that stem from the growing global consumer culture. Standardization versus Adaptation There is a continual disagreement within the realms of international advertising about how best to approach the subject. This disagreement is between the standardization of products and services along with the pursuit of a consistent 2 marketing strategyRead MoreThe Self Service System : Ikea And Consumers, And It s Concept856 Words   |  4 PagesThe self-service system brings benefits to both IKEA and consumers, and it’s concept in the market offer many reciprocal benefits to achieve common progress. For IKEA, the innovative service has contributed to the expanding of the corporation and the growth of sales which in turn increase its economic influence and gives it a very competitive advantage. The self-service benefit also helps the standardization of the service system and enables IKEA to achieve the economic scale while reducing costRead MoreHeyy1303 Words   |  6 PagesHow different is different? IKEAs challenge to appeal to local tastes globally. Brief information about IKEA company. 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It may not be the healthiest of diet plans but McDonald’s provides the cheapest and most nutritious food on a mass-produced scale in human history. McDonald’s is often times cost-effective for cash strapped college students and popular way good samaritans to feed the homeless. II. Using the Ikea exampleRead MoreThe International Marketer Of Overseas Markets1383 Words   |  6 Pagesstandardised marketing communication method to those overseas markets is appropriate. In addition, global media consumption or the adoption of global lifestyles makes it easy to accept the standard global advertisement or other communication tool. For example, when customers travel around the world, if they see the same international brands which they prefer in their own country, they are willing to see the advertisements which remain the same image in their mind. Otherwise, they will feel confused aboutRead MoreStrategies Adopted in the International Market the Case of Ikea in France11879 Words   |  48 PagesSchool of Technology and Society BACHELOR DEGREE PROJECT Strategies Adopted in the International Market The case of IKEA in France Bachelor Degree Project in Business Administration 15 ECTS Spring term 2007 Authors: Damien BADIER and Carole ROUSSET Supervisor: Desalegn ABRAHA Examiner: Marianne KULLENWALL Strategies adopted in the International Market The case of IKEA in France This thesis is submitted by Damien Badier and Carole Rousset to University of Skà ¶vde for the Bachelor DegreeRead MoreEssay on case study ikea2128 Words   |  9 Pagesï » ¿Can you see any alternative entry strategy that IKEA could have applied when entering the Russian market? What would have been the advantages and the disadvantages of these alternative strategies  ? For IKEA there was alternatives strategy for entry the Russian market, as any other foreign market, the options for the company where: †¢ Exporting †¢ Licensing †¢ Joint ventures IKEA can use any of these alternatives but there were not in the same line has the company wanted to be in Russia, so theyRead MoreThe Principles Of Global Marketing1632 Words   |  7 Pagesstrategy of global marketing is necessary for companies to develop new markets. This assignment will firstly explain what global marketing is. After that, it will confer strategy of global marketing in 4Ps (product, price, place, promotion) and some examples. Finally, it will discuss relevancies to society. Explanation Global marketing is a universal and natural discipline. The first reason is people in diverse countries having differences. In addition, the practices of marketing will alter from country