Homework: IKEA
o Identify key players (e.g., customer groups, supplier companies, major organizations) that IKEA deals with in its operation and, from the marketing perspective, describe what IKEA exchanges with each of the key players in order to make money in its business.
o Based on the textbook case and the assigned articles, define IKEA's target consumers in the U.S. in terms of age, education level, income level, city size, and fashion taste.
o Based on the textbook case, the assigned articles, and your own experience (if applicable), what has IKEA done well in the furniture retailing business? In other words, what are IKEA's success factors in the furniture retailing business?
o How does IKEA reduce its overall costs in production and supply chain management? [Hint: This question is based on the textbook case.]
o Why is "furniture hacking" important for IKEA's future? What are the benefits of allowing and embracing "furniture hacking" for IKEA? [Hint: This question is based on the second assigned article.]
o Based on the last two assigned articles, identify two (2) major changes or initiatives that IKEA has launched recently and describe how they can improve shopping experience for its customers.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.