IKEA in Saudi Arabia A Karthik Ramanna Jerome Lenhardt Marc Homsy 2016
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“In a country where people often struggle to have a good sleep at night, IKEA, as a leading global furniture retailer, found itself in a difficult situation. With the Saudi royal family’s vision of transforming the Saudi Arabian economy and society, IKEA embarked on the Saudi Arabia Furniture Retail project with partnership from the Saudi Arabian government. Saudi Arabia is one of the richest countries on Earth and has huge potential to transform its economy. IKEA saw an opportunity to enter this market
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IKEA, with its low-price, efficient, and beautiful furniture is a world-famous brand. But, IKEA in Saudi Arabia is different. Saudi Arabia’s culture is different, and IKEA’s style is very different from our country’s. According to the Saudi market survey, the Saudi population has grown from 20 million to 26 million people over the last 10 years. The country is facing challenges like the economic reforms, job creation, urbanization, social
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I have been an IKEA employee for 16 years. The company has had a significant presence in Saudi Arabia for more than 20 years. my sources When I joined the IKEA operations in 1993, there were only two branches in Saudi Arabia. Today there are about 16 stores throughout the country, each with a customer base of 100,000 people. I work at the second-largest IKEA store in the country, a 1,500-square-meter store that opened in R
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I was initially hesitant about writing about IKEA when I read it in the marketing book. It seems to be a marketing technique that seems to be outdated. However, in Saudi Arabia we have to learn to be market-oriented like the rest of the world. So, I decided to write my case study. Topic: IKEA in Saudi Arabia A Karthik Ramanna Jerome Lenhardt Marc Homsy 2016 Section: IKEA in Saudi Arabia Now, I
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(10%) Describe the current business strategy and its objectives for Saudi Arabia. Provide a summary of the company’s history, key brands, target customers, competitors, current market share, and future outlook. Body (20%) 1. Company History Describe the company’s history and the key milestones that have led up to the current position in Saudi Arabia. Explain how the company has adapted to local conditions and the cultural nuances. Highlight any challenges faced, how they
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“IKEA is a Swedish multinational home furnishings company based in Malmö, Sweden. It is one of the largest furniture retailers in the world, with operations in over 60 countries. In 2016, IKEA entered the Saudi Arabian market with the opening of its first store in Jeddah, in 2014. The store is a part of the Saudi Arabian Public Services Company, a joint venture between Saudi Arabian Oil Company and IKEA, and is located in