Case study Disney&IKEA Môn Thực hành nghề nghiệp 1 | Trường Đại học Tài chính - Marketing

Disney
1. What does Disney do best to connect with its core consumers?
It can be seen from the text that by the 1970s Disney concentrated on
customers consisting of children, families and adults. From the 1980s, it
adopted a strategy to reach an older audience. Now its market consists of al ages, cultures.
Today, it is one of the leading diversified international entertainment
companies which comprises five segments: The Walt Disney Studios, Parks
and Resorts, Disney Consumer Products, Media Networks and Interactive
Media. This diversification provides sufficient chances for al kinds of customers to select services.
Besides, they used emerging technologies to connect with customers. This
helps customers to be served more conveniently and entertainingly.
Disney core value, as committed by its CEO in saying Disney’s greatest
challenge today is to keep a 90-year-old brand relevant and current to its core
audience while staying true to its heritage and core brand values.
2. What are the risks and benefits of expanding the Disney brand in new ways?
The risk Disney faces when expanding its brand in new ways is to keep a
90-year-old brand relevant and current to its core audience while staying true
to its heritage and core brand values. There needs to be a balance between
the respect for heritage and a need to be relevant, as there often exists
decisions and conflicts that arise when dealing with a company that has a great legacy such as Disney.
Disney is also faced with the risk of constant upgrading and excessive
research and development as it needs to constantly find new initiatives and
strategies In order to expand its brand and stay above its competition.
Continuously expanding the Disney brand involves a high investment and high
risk factor. Thus, Disney has to Invest quite a bit of finance when expanding
Its brand and Is never guaranteed as to whether or not this expansion will be
successful. By having more consumers, Disney is able to earn greater. IKEA
1. What are some of the things IKEA is doing right to reach
consumers in different markets? What else could it be doing?
● IKEA’s everyday vision is “to create a better life for the many people.”
Its mission of providing value is predicated on founder Kamprad’s
statement that “People have very thin wallets. We should take care of their interests.”
● Offered leading edge design and functional home furnishings at low costs
● Updated the products regularly to stay in demand
● IKEA achieves this level of success by offering a unique value
proposition to consumers: leading-edge Scandinavian design at
extremely low prices. Reduce their prices 2% to 3% and then 10% margin annual y.
● They have source materials from different countries. This ensures the
lowest price possible, and savings that are passed on to the consumer.
Their location of outlets that lower rental costs.
● Many IKEA products are sold uniformly throughout the world, but the
company also caters to local tastes. IKEA employees recognize why
U.S.shopper buy vases as drinking glasses or that IKEA managers
have visited European and American consumers and even visited
Hispanic households in California to understand more about their
consumption trends. That's what makes IKEA have grown into the
largest furniture retailer in the world.
IKEA can expand its market in South Asia and African countries. IKEA has no
more stores in South Asian countries. In South Asia, some countries like
Pakistan, India, Bangladesh, Sri Lanka, and the Philippines have huge
markets for furniture, so IKEA should expand its market in these countries.
● Start an online retail business. IKEA should increase online sales and internet presence.
● Make use of social media to get customer feedback and to increase
awareness of products worldwide.
● IKEA can go for environmental y friendly products and technology.
● IKEA can use catalogues for easy look out of products and customers convenience.
● IKEA should focus more on advertising so that it can be more appealing
to the target market, especial y mil ennials.
2. IKEA has essentially changed the way people shop for furniture.
Discuss the pros and cons of this strategy. Pros:
● Unique marketing initiatives that generate excitement and exposure for the company's goods.
● IKEA's low-cost strategy keeps it on top of the furniture retail market
when compared to its competitors.
● IKEA is a low-cost, high-quality retailer.
● Provide items that are in line with market and consumer demands.
● This is a family-friendly establishment.
● IKEA labels its products with unusual names so that customers can easily recognize them.
● Displaying a diverse range of products and designing the shop layout in
a one-way style so that buyers can see everything in one spot.
● Provide a flat packing technique to make it easier for customers to move their goods.
● Its products are accessible to anyone.
● IKEA’s stores are located a good distance from most city centers, which
helps keep land costs down and taxes low. Cons:
● There is a scarcity of new products.
● Customers may be overwhelmed by the shop's design since they are unsure where to begin.
● Because there is a lack of appropriate technologies for marketing and
advertising, customers may choose to shop elsewhere.
● IKEA's sales may be hampered by changing social trends.