Assignment On Ikea

ASSIGNMENT ON IKEA
NAME: - HIMADRI KUMAR BAL

REGD No – FMS/MBA/2019-21/062
Sensory marketing strategy is one of the most effective ways of promoting unforgettable customer interactions.
The more you engage the senses, the more of an emotional response your customers will give.
E.g. - Touch and feel effect are very much different than that of other traditional marketing. Sounds, images,
tastes, smell etc. can affect your target audience in a different way. Our decisions are not based on rational
thinking, but on the emotions we feel. And we Indians are very emotional people so sensory branding can do
wonders for IKEA.
1. SOUND-
Music helps the customer to behave more friendly with the staff. Slower or sometimes faster music
increases sales in stores, so playing music in the furniture stores can change the customers buying
behaviour as music speaks to your audience.
2. SMELL-
Several researches have proved that 80% of our memory comes from smell. Adding aroma into the stores
will leave an impression on the particular store. The customer will remember that pleasant smell and it will
remind the customer about the store.
3. SIGHT-
A sight must be something which forces the customer to notice it. It should grab your customer’s attention.
It should give your customer an explanation / perspective about your brand. Customers are attracted
towards well designed logos and colour schemes within minutes
.
4. TOUCH-
For products like furniture touch n feel is very much necessary. Customer can touch and feel the product
before making a buying decision. Nowadays with growing digital media world touch and feel are difficult to
embrace and is getting reduced.
B. IKEA can replicate Chinese success in the Indian market but its strategies and methodologies
should be changed to succeed in the Indian market as Indian Market is quite different from that of
Chinese market.
• Glocalization can be the initial approach. It can be done by becoming familiar with the laws and
legislation, bureaucratic system, negotiating system, rules and regulations.
• To enter the Indian market, you would require multiple marketing efforts that address
differing regional opportunities, languages, cultural differences, standards, and levels of
economic development.
• By forming collaboration with an Indian partner can be a good strategy for an international
company to start its operations in India
C. There is no particular formula which can guarantee success when a global brand tries to enter new markets,
it needs to implement new strategies and keep on trying new ones until it succeeds, IKEA is a strong brand with
global recognition but it needs to learn from local market when it comes to India.
They need to take up the local approach for selling their furniture in the Indian market. As they reduced their
prices in China but that didn’t work out in their favour, but reducing prices in India might work out in their
favour. India has a huge fast-growing middle-class population who are interested in buying stylish international
furniture to decorate their house in an affordable way.
It can also do social media marketing in order to attract more customers as social media has a huge influence
on the buying behaviour of the customer.
Sensory marketing can also be applied here. “When a global brand is making its grand debut in India then it
should be everywhere like a big Bollywood movie is being released, it should be on every newspaper, TV
channel, radio, hoardings etc.
The brand must work on the things that suits the Indian population. Working on the strategies might not
always help if you can’t fulfil what the people of that particular culture wants.
• People of India are more into unorganised market because they are not sure of the quality of the timber
used by the top brands and they always want things to be customized according to their need.
Therefore, IKEA has to look into this buying behaviour of Indians.
• People in India always buy new things during festivals like Diwali, Navratri, Ganesh Chaturthi etc so
special offers should be given at that time, or new collections should be announced.
• As already mentioned above, special discounts should be offered, like Diwali sale, Republic Day sale or
Independence Day sale etc.
• They should not try selling typical Chinese furniture in India rather everything should be Indianized. It
should also rationalise its products according to different states and cultures.

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ASSIGNMENT ON IKEA

NAME: - HIMADRI KUMAR BAL

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