Reasons to enter Vietnamese market- Case:IKEA
Nguyen, Thi (2013)
Nguyen, Thi
Laurea-ammattikorkeakoulu
2013
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201604254989
https://urn.fi/URN:NBN:fi:amk-201604254989
Tiivistelmä
The purpose of this thesis is to analyze why IKEA, biggest Swedish furniture brand, should enter to Vietnam. Based on research and interviews, the study provides an overview of Vietnamese economy, reasons for the company to open its first branch in Vietnam and suggest how IKEA adapt their strategies to expand and become profitable in Vietnam.
The idea of this literature started after the author's first visited IKEA store in Finland, in 2013. By realized the promising development of IKEA in Vietnamese market, this thesis is conducted to explain the issue in depth. The thesis firstly discusses about the trend of global furniture market in general and IKEA Company background in brief as well as Vietnamese economic overview in order to reveal research motivations and introduce the research topic. Furthermore, by analyzing the IKEA case study and Vietnamese furniture market, the writing describes products and services offering suit the demands and expectations of local target customers. Moreover, based on the studies and interviews, the thesis also provides suggestions about how does IKEA adapt its strategies to expand and become profitable in Vietnam. Furthermore, the literature discussed the method which IKEA would choose to enter the potential market such as franchising.
Besides, because of difficulties within the system and the society which are challenges for the Vietnam’s Statistical System (VSS) to increase data quantity, quality and timeliness, the thesis analyzes different resources and data in order to presents a holistic view of Vietnamese economy.
For the purpose of the market and consumer research, an interview with 5 questions was conducted. The aim of the interviews was to measure the satisfaction of the customers with existing service providers, and to inquire about the needs of customers for services and delve into the customer's buying behavior. Therefore, based on the interview results, the trends of customer expectations, the author suggest that IKEA have to have willingness to change and adapt their process and system will be concluded.
Keywords: Furniture market, entering a market, Consumers ‘expectations, IKEA, Vietna
The idea of this literature started after the author's first visited IKEA store in Finland, in 2013. By realized the promising development of IKEA in Vietnamese market, this thesis is conducted to explain the issue in depth. The thesis firstly discusses about the trend of global furniture market in general and IKEA Company background in brief as well as Vietnamese economic overview in order to reveal research motivations and introduce the research topic. Furthermore, by analyzing the IKEA case study and Vietnamese furniture market, the writing describes products and services offering suit the demands and expectations of local target customers. Moreover, based on the studies and interviews, the thesis also provides suggestions about how does IKEA adapt its strategies to expand and become profitable in Vietnam. Furthermore, the literature discussed the method which IKEA would choose to enter the potential market such as franchising.
Besides, because of difficulties within the system and the society which are challenges for the Vietnam’s Statistical System (VSS) to increase data quantity, quality and timeliness, the thesis analyzes different resources and data in order to presents a holistic view of Vietnamese economy.
For the purpose of the market and consumer research, an interview with 5 questions was conducted. The aim of the interviews was to measure the satisfaction of the customers with existing service providers, and to inquire about the needs of customers for services and delve into the customer's buying behavior. Therefore, based on the interview results, the trends of customer expectations, the author suggest that IKEA have to have willingness to change and adapt their process and system will be concluded.
Keywords: Furniture market, entering a market, Consumers ‘expectations, IKEA, Vietna