14 Aug In 2002, the Ikea Group is the world’s top furniture retailer, with 154 stores w

In 2002, the Ikea Group is the world’s top furniture retailer, with 154 stores worldwide. In the US, IKEA operates 14 stores, all of which have been enormously popular despite the self-service burden they impose on customers. The goal is to have 50 stores in operation in the US by 2017.1. What factors account for the success of IKEA?2. What do you think of the company’s product strategy and product range? Do you agree with the matrix approach described in Figure B of the case?3. Despite its success, there are many downsides to shopping at IKEA. What are some of these downsides? IKEA’s vision statement (in figure C) describes how the company seeks to build a “partnership” with its customers. Who do you think of the vision statement?4. The fact that IKEA hopes to have 50 stores in operation in the United States by 2017 is an indication of how optimistic the company is about the viability of its value proposition in this country. Do you think IKEA is being overly optimistic in its growth plans? How would you improve IKEA”s value propositions to make it more attractive to the American consumer?5. To achieve the kind of growth that IKEA is hoping for, should the company change its product strategy? If so, in what way(s)? What about its product range – are there limitations to the matrix approach? Should the company expand its product lineup to include a greater number of styles and price points? In what other ways should the company consider changing its product lineup?6. If you had to predict, what do you think IKEA’s value proposition and product lineup will look like in 10 years?7. Some industry observers have suggested that IKEA should open a small number of satellite stores across the U.S. (in shopping malls, strip malls etc…). By offering a limited range of IKEA products, these “IKEA Lite” shops would presumably give consumers who do not otherwise have access to a full-size IKEA the opportunity to experience the brand. In addition, consumers who do live near a full-size IKEA would be able to use these mini-outlets to make minor purchases (a set of coffee mugs etc…). Do you agree with this idea? Why or why not?

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