The Branding of IKEA Essay -- Business Management Studies Essays Paper

The Branding of IKEACompany backgroundThe first catalogue was introduced in 1951 and with this the founder saw his chance toexpand his business on a large scale, and this was the year he decided to completelyfocus on low-price furniture, as from the beginning IKEA sold mainly matches,watches, Christmas decorations, picture frames and jewellery.In 1956 the go with came up with the conceit of flat-pack self-assembly furniture.The first international IKEA store was introduced in Norway in 1963, and was soonfollowed by the opening of stores in Denmark, Germany, Australia, Canada, and Austria.In 1987 the first IKEA opened in the UK, and in 2001 the company had 143 stores in 22countries. Today we are the leading furniture retailer in the UK with a 12.1% before MFI and DFS.Our Brand - an introductionThe make cook is associated with feelings, attitudes or different meanings, and in ourminds it is connected with a certain image. All inspired by the logo, design or colour.Branding is a w ay to differentiate i company, its service or product, from competitors.But also to provide it with a personality which is both appealing and unique to theirpotential customers. It is a multifaceted, disciplined and multilayered process.IKEA is seen as friendly, quirky, trendy, social, young, independent, humourous and relaxed.Usually the personality of a brand is described as a person, with its differentcharacteristics.The importance of brandingIn the past decade companies are scratch to see their brand assets, and with this branding has taken on a greater significance. So today brands are more than just marketing slogans and logos. All businesses are building their brands through certain actions and in their actual presence they find a position in the mind of consumer and prospects. This is based on experience and exposure of the brand in the competitive marketplace. There are certain advantages to take into account in a Brand StrategyFinancial Advantages, Strategic Advantag es and Management Advantages. The monetary advantages may be higher sales, and for the companies with more market shares higher margins. IKEA is one of the leaders in its market place, and therefore many other brands in that crabbed sector may be hitchhiker brands following us and other leaders (such as MFI and DFS).Strategic Advantages... ...ours, and the name written across in bold letters.It is very(prenominal) much a trademark and this same logo has been used from avery early stage.ConclusionI hope this will help you ensure the importance of branding withinIKEA. Our company has been a worldwide success for so many years, and this has already created an image in most peoples minds, they associate the name IKEA and the logo with purchase or from one of the award winning advertising campaigns which have been run throughout the world.It is incredibly important to build brand cognizance when introducing anew product onto the market, and our company has already achieved this, b ut there is still the need to maintain customer and market.Bibliography* Mintel (2002)* Internet* San Juan de la Pena website* Rieboviz, Rik * De Chernatony, Leslie (2001) From Brand spate to Brand Evaluation, Butterworth-Heinemann* Brassington, Frances, Pettitt, Stephen (2000) Principles of Marketing, Prentice Hall* Butterfield, Leslie (1999) Excellence in Advertising, 2nd edition, Butterworth-Heinemann* Nilson, Torsten H (1998) Competitive Branding, John Wiley & Sons Ltd.