Analysis Of IKEA's Marketing Strategy In China

With the development of China's economy,the domestic home furnishing retail industry from the past high-speed development to flat development.The slowdown of the overall home furnishing industry and the new retail model make domestic and foreign home furnishing enterprises need to make better preparation and changes.As one of the fastest growing home furnishing markets in the world,China's home furnishing market is experiencing increasing demand.At the same time,the acceleration of China's domestic real estate industry also stimulated the development of the domestic home furnishing industry.In this context,IKEA,as a leading international home furnishing brand,successfully entered the Chinese home furnishing market.IKEA first entered the Chinese home furnishing market in 1998 and gradually expanded its marketing in China.IKEA has 26 stores in China as of 2018.IKEA continues to achieve success in China.Meanwhile,IKEA also has many problems in marketing in China.With the development of economy,the consumption level and demand of Chinese people have changed greatly.At the same time,the rapid development of technology also makes the home industry face new challenges.In this critical period,IKEA should adjust their marketing strategy,IKEA should first consider the problem.Only when IKEA grasps the critical period of the development and transformation of China's home furnishing market,can it put itself in a favorable position.Only by choosing the right way of development and following the development trend of domestic home furnishing industry,can IKEA give full play to the advantages of its international home furnishing enterprise brand.On the contrary,if IKEA cannot grasp the development mode of the industry,it will be detrimental to the development of IKEA's marketing in China in the future.Under the background of the development of China's home furnishing industry,this paper makes a comprehensive analysis of IKEA's marketing strategy in China,so as to provide reference and Suggestions for China's home furnishing industry.This paper adopts the analytical method of combining theory and data.At the beginning of this paper,the development history and major events of IKEA are sorted out,and then the development history of IKEA in China is guided.Data analysis is made on IKEA's sales in China year by year.Then the thesis adopts PEST research method to make a comprehensive analysis of IKEA's marketing in China.In the main part of this paper,the 4p theoretical analysis method is used to summarize IKEA's marketing methods in China.Among them,experiential marketing and localized marketing are typical sales methods of IKEA in China.At the same time,IKEA's various marketing strategies in product,price,channel and promotion all contribute to the success of IKEA's marketing in China.Finally,this paper also analyzes the advantages and disadvantages of IKEA's marketing in China.Combined with the previous strategy analysis,this paper puts forward the problems existing in IKEA's marketing process in China.For example,IKEA has the problem of unreasonable price positioning during the transition from the European market to the Chinese market.Moreover,IKEA has not carried out online sales in a timely manner,which makes IKEA lag behind in the current era of online consumption.In view of these problems,this article has proposed the corresponding solution.Through the analysis of IKEA's marketing strategy in China,it has an important reference significance for China's home furnishing industry.Chinese household enterprises in the development process,can refer to IKEA in the marketing process adopted by the method.Better home furnishing products for the Chinese home furnishing market,to create a national brand of the Chinese home furnishing industry.Through the understanding of IKEA's marketing strategy in China,I can better learn and use for reference.