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Business plan on IKEA furniture and its expansion on European market with production in Malaysia

Number of Words : 4338

Number of References : 10

Popular By : IKEA Marketing plan, IKEA Strategic analysis


  Executive summary
  Business description
  Business formation
  Business goals/mission
  Business philosophies/identity
  Geographical markets
  Vision of the future
  Main objectives
  Sales summary
  Strategic positioning
  Strategic alliances
  Key advantages
  Malaysia as manufacturing unit
  Europe as a market to sell
  Funds required
  Factory setup operation
  Porter’s Five Forces Model – Competitive Analysis
  Price points
  Break-Even Analysis
  List of References


Furniture is one of the greatest demanded products in a livelihood and as the economy is growing, so is per capita income followed by consumer demand. Consumers are buying house and property market is growing leaps and bounds across the world. Financial market evolution helps the consumers today to take easy loans for their dream house, and decorating it. Also, new consumer demand has raised the evolution of new product lines which eventually pushes the demand of new ventures to start up, new products, and new companies. That automatically pushes the opportunity of new infrastructure, new offices, and new education institutions and without furniture all these are empty and un-fulfilled. Therefore, furniture is something without which livelihood is incomplete. Different market would have different type of furniture demand. It all depends on the developed or developing societies in question. A developing or under-developed nation would not be able to afford metal furniture which is expensive at the same time; developed economies would be able to afford not only the metal as well as the costly and elegant wooden furniture (Koncept Analytics, 2008). <br />There is one largest brand Ikea and we are evaluating the concept of furniture making and selling in the niche market. Europe is a strong economy, with high purchasing power and considered a developed nation. It is near geographically to UK and has a large population who likes innovative and stylish way of living. Europeans prefer wooden elegance than a metal one; hence, they Ikea’s expansion strategy towards European market has been more of a wooden elegance. <br />

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