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BUS 5112 - Assignment 2

The document discusses IKEA's business model and buyer behavior for their products. It describes IKEA as a large Swedish retailer known for affordable home furniture and accessories. The document then outlines IKEA's mission to offer well-designed, functional products at low prices. It analyzes the different buyer behaviors of individual consumers versus organizational buyers for IKEA products, noting individuals consider style, price and transport while organizations focus on bulk purchases, durability, cost and customization options.

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82 views

BUS 5112 - Assignment 2

The document discusses IKEA's business model and buyer behavior for their products. It describes IKEA as a large Swedish retailer known for affordable home furniture and accessories. The document then outlines IKEA's mission to offer well-designed, functional products at low prices. It analyzes the different buyer behaviors of individual consumers versus organizational buyers for IKEA products, noting individuals consider style, price and transport while organizations focus on bulk purchases, durability, cost and customization options.

Uploaded by

michelle
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BUS 5112:

Marketing Management
AY2021 -T3

Written Assignment Unit 2

Feb 9th, 2021


Using a product (goods or services) and the information from the readings, create a model

of buyer behavior for the product. Next, create a model for an organizational buyer vs. an

individual consumer.

IKEA a Swedish furniture shop that is one of the largest retailers in the world. IKEA have

shops around the world that sells a wild range of home furniture, office furniture, bathroom

and kitchen accessories and much more. It all started in 1943 in Sweden. As of 2009 the

company owns 301 stores in 37 countries.

IKEA’s mission statement : To offer a wide range of home furishing items of good design and

function, excellent quality and durability, at prices so low that the majority of people can

afford to buy them.(IKEA)

IKEA's vision is: “To create a better everyday life for the many people’. IKEA’s vision goes

beyond home furnishing. They offer a well-designed, functional home furnishing products

at prices so low that many people will be able to afford them. They want to create a ‘better

everyday’ for all people impacted by their business” (IKEA)

Buying behaviour differs from different type of customer first we will look into individual

buying behaviour for IKEA. When you arrive IKEA , you will have access with a shop

catalogue that gives you a good idea how to decorate your home. Once enter the shop, you

will see that have this unique set up to show you different parts of a house with their

design. This help customer to visualize the outcome help customer to easily get what they

wanted. Since IKEA is to provide customer with affordable and stylish merchandise, they

also pack their good small so average customer can easily bring it home themselves, they
really are targeting the low to middle class individual and family. So for the buyer behaviour

of IKEA customer start with a need of a certain piece of furniture in their home, they will do

some research and find the style they want with the price that they can afford and buy it

where they can easily reach. They will also consider the logistic cost, they variety they can

have.

For organisational buyers, they also need consider the style and the cost, however, they

usually buy in bulk, a restaurant might go in and buy 100 cups and 200 plates and 40 sets of

tables and chairs. Their consideration will be different. They need the items to be durable,

economics, with a good logistic solution and customer service. So office will go into IKEA and

furnish their office and custom build partition and desk with different design, and IKEA will

be able to provide these special service for organisational buyers and provide installation

services as well.

Reference:

Ikea. (n.d.). Who we are. Retrieved February 10, 2021, from


https://www.ikea.com/ca/en/this-is-ikea/work-with-us/who-we-are-pubeb7e666d

Writing, A. (2019, March 27). What are the differences between the organizational and
consumer markets? Retrieved February 09, 2021, from
https://smallbusiness.chron.com/differences-between-organizational-consumer-markets-
641.html

UKEssays. (November 2018). IKEA Company: Consumer Behavior. Retrieved from


https://www.ukessays.com/essays/marketing/ikea-company-consumer-behavior-
marketing-essay.php?vref=1

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