Question

IKEA’s vision is “to create a better everyday life for the many people” and the company follows an extreme cost leadership business strategy along with new product development strategy to realize this vision. International market expansion strategy also represents an important element of IKEA business strategy. Leadership style exercised to manage the home improvement and furnishing chain can be branded as leading by example, as set by the founder of the business Ingvar Kamprad.

From the given company, study its market and describe:

which should the targeted audience be?

Answer 1

With the given scenario in play, IKEA is considering to expand its business all across the world and this indeed means it actually wants everyone who is need on home furnishing equipment and things across the globe and that is the reason why it decided to implement polycentric strategy to capture the market and therefore the target audience would be all the people across the globe where it's business centers are who are in need of home furnishing