Hi, need to submit a 500 words essay on the topic The Global Strategy of IKEA.IKEA has become one of the most successful furniture retailer’s in the world. IKEA low-cost-approach to doing business a

Hi, need to submit a 500 words essay on the topic The Global Strategy of IKEA.

IKEA has become one of the most successful furniture retailer’s in the world. IKEA low-cost-approach to doing business and innovative marketing and brand identity has allowed IKEA to mold and convert their brand image and company to become a lifestyle oriented company. IKEA was one of the pioneers towards globalization by offering furniture that was sold unassembled to its clientele therefore it could be shipped more securely and economically and consequently sold at the lowest possible costs to their customers. The company carefully adapted their corporate structure, business model, and culture to maintain and build their brand image, while carefully adapting their product offerings and marketing to match the preferences, customs, and needs of their local clientele. IKEA has become much more than a furniture merchant, it embraces customers with lifestyle that embraces good taste and recognizes value. The company has thrived in the global market where others competitors have not succeeded in penetrating. The key strategy to IKEA’s global success has been in keeping in line with their original philosophy of success which has been to provide unique, functional, simplistic but beautiful furniture designs and products at a low cost. This unrelenting pursuit of efficiency and frugality has permeated throughout the corporate culture and structure (Quickmba, 2011).