The value chain concept of Ikea Marketing essay
IKEA value chain analysis. By Abhijeet Pratap IKEA is a leading global brand of home furnishing products. The company sells stylish home furnishing products that appeal to the tastes of modern people at affordable prices. The main factors behind the popularity of the IKEA brand are its low cost but good quality. IKEA has become the world's largest home furnishings retailer with its international expansion in three major phases. IKEA's mission is to provide great variety, good design and value for young people of all ages. IKEA is committed to maintaining a standardized product strategy with a universally accepted range around the world. Care for the environment, people, children's rights and animal welfare. IWAY focuses on four key areas: positive environmental impact, decent and meaningful work for employees, promotion of children's rights and animal welfare. First, there is the need to ensure that the people involved in IKEA's value chain are doing well. To gain competitive advantage, an organization ultimately delivers more value at equal or lower costs. Value chain analysis is the method for determining the critical path to increase customer value while reducing costs. Since the mid-1980s, Michael Porter's value chain analysis, that is, his original five-force value chain model,.