See the detailed information below Case Study Example | Topics and Well Written Essays - 1500 words

See the detailed information below - Case Study Example This will be achieved by analyzing the case â€Å"IKEA invades America† under the following subtopics. The best model of business that describes the marketing activity for the IKEA Company is the 4P model. A firm applying this model structures its marketing activities based on the product, price, place and promotion aspects. IKEA is observed to follow this model since has designed the products with unique features that act as identity to customers. The products offered by the company are Scandinavian make. In addition, there are a range of products that customers can buy. The company has opened outlets in various countries from customers can obtain products. Components of the products are supplied and assembled by customers in assistance of IKEA employee at the nearby outlet. This has moved the products close to customers. The company has also used price as a tool to attract customer. The products are offered at relatively lower prices compared to competitors yet are of high quality. The company carries promotional activities to create awareness to customers such as through the inter net. IKEA has a developed product strategy that is followed in developing new products as well as setting its price. The company has a council made of members from different part of the globe that studies the trends in consumer tastes and preferences. The council recommends for development of a product based on consumer preferences. The company also carries research in the market for similar products offered by the competitors for purpose of benchmarking and setting the price. The company sets the price to as low as 30 to 50 percent of the competitor price (3). In addition, the company has a price matrix followed in setting the price. The matrix has style of product: Scandinavian, modern, country and young against price range (high, medium, or low). The matrix provides for setting prices for different design with a sense of