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marketing strategies of Ikea
Case study
Ikea is the leading company in selling furniture store in the world.In 2018, the global revenue generated by th ...
marketing strategies of Ikea
Case study
Ikea is the leading company in selling furniture store in the world.In 2018, the global revenue generated by the IKEA Group amounted to 38.8 billion euros. (statista.com). The IKEA vision is to “create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them”. The main goal of IKEA is to help customers improve their home and professional environment by offering a wide range of furniture, textiles and utensils at reasonable prices.
At IKEA, the design of furniture products is based primarily on the study of the daily needs of people at home, especially those with low incomes and living spaces. This is how IKEA is able to offer well-adapted and functional products to the needs of its customers with reduced prices that most people can afford.
IKEA collaborators responsible for product design and development focus primarily on three peers: price and quality, design and function, environment and health. The objective is to make the productssaleable and right for the IKEA identity. This is why elements of the design are often decided on the factory floor, where designers and manufacturers work together: “At IKEA we design the price tag first and then develop the product to suit that price. IKEA product developers and designers work directly with suppliers to ensure that creating the low prices starts on the factory floor. They consider maximizing production equipment, using raw materials efficiently and applying technical innovations and the best possible design. It is all about making the most of our production process, keeping waste to an absolute minimum and considering flat-pack transportation and self-assembly”.
IKEA believes that low prices are possible even with high product quality. This combination became IKEA’s veritable strategy and driving force for the sustainable growth of its business.
Source:
IKEA company website (2019).https://www.ikea.com
Questions
Write a brief introduction about the company Products, business statement, vision and objectives.
Describe the Marketing Plan forIkeacompany.
Discuss how do Ikea manage all of their products and services? What are the steps in the best development process for new products/services?
How do Ikea marketers use pricing strategy and pricing objectives to achieve their goals
4 pages
Int 220 4 1 Discussion The International Monetary Fund
A country or government should be bailed out by IMF when it is facing an economic downturn. The IMF rescues a country's ec ...
Int 220 4 1 Discussion The International Monetary Fund
A country or government should be bailed out by IMF when it is facing an economic downturn. The IMF rescues a country's economy through bonds and ...
San Diego State University IFAC and KPMG Accounting Ethics Questions
In the PDF file, it has the three questions with intructions listen in the beggining. Please answer those questions based ...
San Diego State University IFAC and KPMG Accounting Ethics Questions
In the PDF file, it has the three questions with intructions listen in the beggining. Please answer those questions based on insturctions in a word document. You do not need to include the questions in the document. All you have to do is labe the answers based on the question so my professor knows which part you are answering. I am willing to also include lecture powerpoints from the professor to make it easier in answer the questions.
A T Still University LTD Acceptance Risk Management Tools Presentation
CompetenciesConstruct a framework for identifying, evaluating, and categorizing risk and risk management tools.Appraise th ...
A T Still University LTD Acceptance Risk Management Tools Presentation
CompetenciesConstruct a framework for identifying, evaluating, and categorizing risk and risk management tools.Appraise the relationship between a heightened regulatory environment and corporate governance.Evaluate the components of operational risk and the application of corresponding risk management plans.Evaluate the principles of risk and reward in the investment sector and its applications to the broader area of risk management.ScenarioLTD Acceptance is a private property and auto insurance carrier that specializes in sports cars and motorcycles. This organization is owned by LTD Capital, a large equity group with over 15 holdings. LTD Acceptance is the parent company's single largest holding as it drives 70% of total revenue. Due to the inherent risk involved in that segment of the market, many of LTD Acceptance's competitors do not offer policies for sports cars or motorcycles. This market segment is underserved which is why the organization has 20,000 active policies for a sports car or a motorcycle.LTD is headquartered in Houston, TX. LTD does not sell insurance directly to the public. Instead, it uses third-party agents to sell its policies. LTD handles all customer service needs including claims intake, policy services, and general questions. The company operates in four states: California, Texas, Louisiana, and Florida. Currently, LTD does not have an active system in place to ensure that its agents are in fact using LTD guidelines to screen potential policyholders. However, no evidence of negligence has emerged so far as the organization has yet to have a year in which it was not profitable. LTD has also had the good fortune of not suffering losses because of natural disasters or catastrophic events.InstructionsYou have been hired for the role of Senior Risk Analyst. This means that you are responsible for overseeing and managing the organization's all risk management activities. Before you can design a plan to manage risks, your first task is to identify the primary risk exposures the organization should acknowledge. The organization is also concerned about threats to its operational efficacy. Therefore, you need to also identify operational risk exposures and explain why operational losses must be categorized. The board is also seeking your input on the relationship between risk and reward and how it pertains to the company's investment portfolio. Your supervisor has asked you to create a PowerPoint presentation of your report. Remember your audience when crafting your presentation, and include the following slides:Title slideEvaluate the significance of identifying risks and address the ramifications of failing to do so.Identify two insurance regulations and analyze their roles in managing risks within the insurance industry.Identify the market, business, and compliance risks LTD encounters.Explain why the operational losses cannot be broadly managed. Why do they have to be categorized?Examine the relationship between risk and reward and how it pertains to investing.Explain why effective financial management correlates with risk management.Your conclusion slide should include at least three risk management activities relevant to insurance (and your rationale for choosing them specifically) and how they link to enhanced organizational effectiveness.FFCBA01234Not SubmittedNo PassCompetenceProficiencyMasteryNot SubmittedAt least one slide requirement is missing.All required slides are included.All required slides are included along with any supporting explanations or examples.All required slides are included along with any supporting explanations or examples and are professionally presented.Not SubmittedInaccurate discussion on the importance of identifying risks is included OR no discussion on the importance of identifying risks is included OR appropriate consequences of failing to identify risks are not included.Accurate discussion on the importance of identifying risks is included AND appropriate consequences of failing to identify each risk mentioned are included.Accurate discussion that utilizes specific examples of the importance of identifying risks is included AND appropriate consequences of failing to identify each risk mentioned are included.Thorough and accurate discussion that utilizes specific examples of the importance of identifying risks is included AND appropriate consequences of failing to identify each risk mentioned are fully explained.Not SubmittedLess than two insurance regulations are accurately analyzed in their role in managing risk in the insurance industry.Two insurance regulations are accurately analyzed in their role in managing risk in the insurance industry.Two insurance regulations are thoroughly and accurately analyzed in their role in managing risk in the insurance industry.More than two insurance regulations are thoroughly and accurately analyzed in their role in managing risk in the insurance industry.Not SubmittedNo valid risks are identified for at least one area (market, compliance, and business).At least one valid risk is identified for each area (market, compliance, and business).At least one valid risk is identified and explained for each area (market, compliance, and business).More than one valid risk is identified and explained for each area (market, compliance, and business).Not SubmittedInaccurate discussion of why operational losses must be categorized is included OR no discussion of why operational losses must be categorized is included.Accurate discussion of why operational losses must be categorized is included.Accurate discussion that utilizes specific examples of why operational losses must be categorized is included.Thorough and accurate discussion that utilizes specific examples of why operational losses must be categorized is included.Not SubmittedInaccurate discussion of how the relationship between risk and reward relates to investing is included OR no discussion of how the relationship between risk and reward relates to investing is included.Accurate discussion of how the relationship between risk and reward relates to investing.Accurate discussion that utilizes specific examples of how the relationship between risk and reward relates to investing.Thorough and accurate discussion that utilizes specific examples of how the relationship between risk and reward relates to investingNot SubmittedInaccurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management OR no discussion to explain how effective financial management correlates with risk management.Accurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management.Accurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management.Thorough and accurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management.Not SubmittedConclusion slide(s) does not summarize at least three pertinent risk management activities OR does not describe how at least one affects organizational effectiveness.Conclusion slide(s) summarizes at least three pertinent risk management activities AND describes how each affects organizational effectiveness.Conclusion slide(s) thoroughly summarizes the details of at least three pertinent risk management activities AND describes how each affects organizational effectiveness.Conclusion slide(s) thoroughly summarizes the details of more than three pertinent risk management activities AND provides deep and meaningful insight on the how each affects organizational effectiveness.
ACC 561 SNHU Accounting Cycle & Trial Balance Worksheet
Overview: In this milestone, you will move through the next phase of the accounting cycle by creating the trial balance, a ...
ACC 561 SNHU Accounting Cycle & Trial Balance Worksheet
Overview: In this milestone, you will move through the next phase of the accounting cycle by creating the trial balance, adjusting entries, and adjusted trial balance. Completing the adjusting entries implements the matching, timing, and periodicity of the generally accepted accounting principles. Omission of this step will show a higher net income than there actually is, which could cause users of the financial statements to make an incorrect decision and suffer financially.Prompt: You will find the provided data for your second milestone in the appendix at the end of this document. The data have been separated from the promptso that you can more easily view the full scope of this assignment. Links have been provided to help you locate the information.Specifically, the following critical elements must be addressed:I. Incorporate the feedback that you received from your Milestone One submission on Steps 1–4.A. Step One: Complete the “July Journal Entries” tab in your workbook using the Step One data in the appendix. B. Step Two: Complete the “August Journal Entries” tab in your workbook using the Step Two data in the appendix.C. Step Three: Complete the “September Journal Entries” tab in your workbook using the Step Three data and updated scenario information in the appendix. Note that there was an additional line of products added this month, so you must first complete the “Inventory Valuation” tab in your workbook and copy the journal entries from the inventory evaluation page into your journal for this month to ensure the impact of merchandising is reflected in your reporting.D. Step Four: Transfer posted entries to T accounts.II. Apply the accrual basis of accounting to correctly create adjusting entries in the preparation of financial statements:A. Step Five: Prepare the unadjusted trial balance. Note that you should use the T account balances completed in the previous step to prepare the unadjusted trial balance portion of the “Trial Balance” tab in your workbook.B. Step Six: Complete the “Adjusting Entries” tab in your workbook using the Step Six data in the appendix. Note that you should take the adjusting entries from this worksheet and enter them into the “Trial Balance” tab in your workbook.C. Step Seven: Apply adjusting entries to create the adjusted trial balance. Note that the adjusting entries from Step Six will apply to affected accounts in the unadjusted trial balance to arrive at the adjusted trial balance.RubricGuidelines for Submission: Your completed accounting workbook should have all tabs fully and accurately populated in the provided Excel template.
LDR 4200 RU WK 12 Leadership Role Creating an Innovative Culture Presentation
Module 6 Live Class Recording Link:Module 6- Innovation & Deliverable 6 and 7 Live Class Recording
LDR 4200 RU WK 12 Leadership Role Creating an Innovative Culture Presentation
Module 6 Live Class Recording Link:Module 6- Innovation & Deliverable 6 and 7 Live Class Recording
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Most Popular Content
marketing strategies of Ikea
Case study
Ikea is the leading company in selling furniture store in the world.In 2018, the global revenue generated by th ...
marketing strategies of Ikea
Case study
Ikea is the leading company in selling furniture store in the world.In 2018, the global revenue generated by the IKEA Group amounted to 38.8 billion euros. (statista.com). The IKEA vision is to “create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them”. The main goal of IKEA is to help customers improve their home and professional environment by offering a wide range of furniture, textiles and utensils at reasonable prices.
At IKEA, the design of furniture products is based primarily on the study of the daily needs of people at home, especially those with low incomes and living spaces. This is how IKEA is able to offer well-adapted and functional products to the needs of its customers with reduced prices that most people can afford.
IKEA collaborators responsible for product design and development focus primarily on three peers: price and quality, design and function, environment and health. The objective is to make the productssaleable and right for the IKEA identity. This is why elements of the design are often decided on the factory floor, where designers and manufacturers work together: “At IKEA we design the price tag first and then develop the product to suit that price. IKEA product developers and designers work directly with suppliers to ensure that creating the low prices starts on the factory floor. They consider maximizing production equipment, using raw materials efficiently and applying technical innovations and the best possible design. It is all about making the most of our production process, keeping waste to an absolute minimum and considering flat-pack transportation and self-assembly”.
IKEA believes that low prices are possible even with high product quality. This combination became IKEA’s veritable strategy and driving force for the sustainable growth of its business.
Source:
IKEA company website (2019).https://www.ikea.com
Questions
Write a brief introduction about the company Products, business statement, vision and objectives.
Describe the Marketing Plan forIkeacompany.
Discuss how do Ikea manage all of their products and services? What are the steps in the best development process for new products/services?
How do Ikea marketers use pricing strategy and pricing objectives to achieve their goals
4 pages
Int 220 4 1 Discussion The International Monetary Fund
A country or government should be bailed out by IMF when it is facing an economic downturn. The IMF rescues a country's ec ...
Int 220 4 1 Discussion The International Monetary Fund
A country or government should be bailed out by IMF when it is facing an economic downturn. The IMF rescues a country's economy through bonds and ...
San Diego State University IFAC and KPMG Accounting Ethics Questions
In the PDF file, it has the three questions with intructions listen in the beggining. Please answer those questions based ...
San Diego State University IFAC and KPMG Accounting Ethics Questions
In the PDF file, it has the three questions with intructions listen in the beggining. Please answer those questions based on insturctions in a word document. You do not need to include the questions in the document. All you have to do is labe the answers based on the question so my professor knows which part you are answering. I am willing to also include lecture powerpoints from the professor to make it easier in answer the questions.
A T Still University LTD Acceptance Risk Management Tools Presentation
CompetenciesConstruct a framework for identifying, evaluating, and categorizing risk and risk management tools.Appraise th ...
A T Still University LTD Acceptance Risk Management Tools Presentation
CompetenciesConstruct a framework for identifying, evaluating, and categorizing risk and risk management tools.Appraise the relationship between a heightened regulatory environment and corporate governance.Evaluate the components of operational risk and the application of corresponding risk management plans.Evaluate the principles of risk and reward in the investment sector and its applications to the broader area of risk management.ScenarioLTD Acceptance is a private property and auto insurance carrier that specializes in sports cars and motorcycles. This organization is owned by LTD Capital, a large equity group with over 15 holdings. LTD Acceptance is the parent company's single largest holding as it drives 70% of total revenue. Due to the inherent risk involved in that segment of the market, many of LTD Acceptance's competitors do not offer policies for sports cars or motorcycles. This market segment is underserved which is why the organization has 20,000 active policies for a sports car or a motorcycle.LTD is headquartered in Houston, TX. LTD does not sell insurance directly to the public. Instead, it uses third-party agents to sell its policies. LTD handles all customer service needs including claims intake, policy services, and general questions. The company operates in four states: California, Texas, Louisiana, and Florida. Currently, LTD does not have an active system in place to ensure that its agents are in fact using LTD guidelines to screen potential policyholders. However, no evidence of negligence has emerged so far as the organization has yet to have a year in which it was not profitable. LTD has also had the good fortune of not suffering losses because of natural disasters or catastrophic events.InstructionsYou have been hired for the role of Senior Risk Analyst. This means that you are responsible for overseeing and managing the organization's all risk management activities. Before you can design a plan to manage risks, your first task is to identify the primary risk exposures the organization should acknowledge. The organization is also concerned about threats to its operational efficacy. Therefore, you need to also identify operational risk exposures and explain why operational losses must be categorized. The board is also seeking your input on the relationship between risk and reward and how it pertains to the company's investment portfolio. Your supervisor has asked you to create a PowerPoint presentation of your report. Remember your audience when crafting your presentation, and include the following slides:Title slideEvaluate the significance of identifying risks and address the ramifications of failing to do so.Identify two insurance regulations and analyze their roles in managing risks within the insurance industry.Identify the market, business, and compliance risks LTD encounters.Explain why the operational losses cannot be broadly managed. Why do they have to be categorized?Examine the relationship between risk and reward and how it pertains to investing.Explain why effective financial management correlates with risk management.Your conclusion slide should include at least three risk management activities relevant to insurance (and your rationale for choosing them specifically) and how they link to enhanced organizational effectiveness.FFCBA01234Not SubmittedNo PassCompetenceProficiencyMasteryNot SubmittedAt least one slide requirement is missing.All required slides are included.All required slides are included along with any supporting explanations or examples.All required slides are included along with any supporting explanations or examples and are professionally presented.Not SubmittedInaccurate discussion on the importance of identifying risks is included OR no discussion on the importance of identifying risks is included OR appropriate consequences of failing to identify risks are not included.Accurate discussion on the importance of identifying risks is included AND appropriate consequences of failing to identify each risk mentioned are included.Accurate discussion that utilizes specific examples of the importance of identifying risks is included AND appropriate consequences of failing to identify each risk mentioned are included.Thorough and accurate discussion that utilizes specific examples of the importance of identifying risks is included AND appropriate consequences of failing to identify each risk mentioned are fully explained.Not SubmittedLess than two insurance regulations are accurately analyzed in their role in managing risk in the insurance industry.Two insurance regulations are accurately analyzed in their role in managing risk in the insurance industry.Two insurance regulations are thoroughly and accurately analyzed in their role in managing risk in the insurance industry.More than two insurance regulations are thoroughly and accurately analyzed in their role in managing risk in the insurance industry.Not SubmittedNo valid risks are identified for at least one area (market, compliance, and business).At least one valid risk is identified for each area (market, compliance, and business).At least one valid risk is identified and explained for each area (market, compliance, and business).More than one valid risk is identified and explained for each area (market, compliance, and business).Not SubmittedInaccurate discussion of why operational losses must be categorized is included OR no discussion of why operational losses must be categorized is included.Accurate discussion of why operational losses must be categorized is included.Accurate discussion that utilizes specific examples of why operational losses must be categorized is included.Thorough and accurate discussion that utilizes specific examples of why operational losses must be categorized is included.Not SubmittedInaccurate discussion of how the relationship between risk and reward relates to investing is included OR no discussion of how the relationship between risk and reward relates to investing is included.Accurate discussion of how the relationship between risk and reward relates to investing.Accurate discussion that utilizes specific examples of how the relationship between risk and reward relates to investing.Thorough and accurate discussion that utilizes specific examples of how the relationship between risk and reward relates to investingNot SubmittedInaccurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management OR no discussion to explain how effective financial management correlates with risk management.Accurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management.Accurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management.Thorough and accurate discussion that utilizes specific examples to explain how effective financial management correlates with risk management.Not SubmittedConclusion slide(s) does not summarize at least three pertinent risk management activities OR does not describe how at least one affects organizational effectiveness.Conclusion slide(s) summarizes at least three pertinent risk management activities AND describes how each affects organizational effectiveness.Conclusion slide(s) thoroughly summarizes the details of at least three pertinent risk management activities AND describes how each affects organizational effectiveness.Conclusion slide(s) thoroughly summarizes the details of more than three pertinent risk management activities AND provides deep and meaningful insight on the how each affects organizational effectiveness.
ACC 561 SNHU Accounting Cycle & Trial Balance Worksheet
Overview: In this milestone, you will move through the next phase of the accounting cycle by creating the trial balance, a ...
ACC 561 SNHU Accounting Cycle & Trial Balance Worksheet
Overview: In this milestone, you will move through the next phase of the accounting cycle by creating the trial balance, adjusting entries, and adjusted trial balance. Completing the adjusting entries implements the matching, timing, and periodicity of the generally accepted accounting principles. Omission of this step will show a higher net income than there actually is, which could cause users of the financial statements to make an incorrect decision and suffer financially.Prompt: You will find the provided data for your second milestone in the appendix at the end of this document. The data have been separated from the promptso that you can more easily view the full scope of this assignment. Links have been provided to help you locate the information.Specifically, the following critical elements must be addressed:I. Incorporate the feedback that you received from your Milestone One submission on Steps 1–4.A. Step One: Complete the “July Journal Entries” tab in your workbook using the Step One data in the appendix. B. Step Two: Complete the “August Journal Entries” tab in your workbook using the Step Two data in the appendix.C. Step Three: Complete the “September Journal Entries” tab in your workbook using the Step Three data and updated scenario information in the appendix. Note that there was an additional line of products added this month, so you must first complete the “Inventory Valuation” tab in your workbook and copy the journal entries from the inventory evaluation page into your journal for this month to ensure the impact of merchandising is reflected in your reporting.D. Step Four: Transfer posted entries to T accounts.II. Apply the accrual basis of accounting to correctly create adjusting entries in the preparation of financial statements:A. Step Five: Prepare the unadjusted trial balance. Note that you should use the T account balances completed in the previous step to prepare the unadjusted trial balance portion of the “Trial Balance” tab in your workbook.B. Step Six: Complete the “Adjusting Entries” tab in your workbook using the Step Six data in the appendix. Note that you should take the adjusting entries from this worksheet and enter them into the “Trial Balance” tab in your workbook.C. Step Seven: Apply adjusting entries to create the adjusted trial balance. Note that the adjusting entries from Step Six will apply to affected accounts in the unadjusted trial balance to arrive at the adjusted trial balance.RubricGuidelines for Submission: Your completed accounting workbook should have all tabs fully and accurately populated in the provided Excel template.
LDR 4200 RU WK 12 Leadership Role Creating an Innovative Culture Presentation
Module 6 Live Class Recording Link:Module 6- Innovation & Deliverable 6 and 7 Live Class Recording
LDR 4200 RU WK 12 Leadership Role Creating an Innovative Culture Presentation
Module 6 Live Class Recording Link:Module 6- Innovation & Deliverable 6 and 7 Live Class Recording
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