Impact of Consumer Market Preferences on Expansion Strategies : Strategies Used by IKEA in the International Market
Roy, Debobroto (2020)
Roy, Debobroto
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202004064503
https://urn.fi/URN:NBN:fi:amk-202004064503
Tiivistelmä
The thesis aimed to examine and discuss the impact of changing consumer markets on the strategies used by multinational corporations (MNCs) in international markets. The thesis focused on how changes in consumer markets have influenced standardization and localization as well as the impact the shift has on management practices, marketing, and human resource management.
The thesis used primary and secondary data from relevant studies on the topic in the post-recession era in a bid to understand the change in consumer behaviours and tact of MNCs. The thesis applied a quantitative research design to develop inferences on the strategies IKEA uses in the Chinese market compared to the Finnish market. A comparison was made between the approaches used in China and Finland to understand essential aspects of international expansion, marketing and integration.
Consumer markets vary from preferences to choices with the changing times and innovations as well as development in technology. Changes in the markets pose a challenge to corporates globally and shape the marketing strategies of MNCs in different regions. The thesis answered the research ques-tion of how the changes in consumer markets may affect international corporations and how the shift in the expansion approaches used by IKEA affects critical business areas of marketing, management practices, and human resource. It, moreover, examined how replication, together with other strategies like localization, and standardization blend in with different cultures and environments, thereby citing how IKEA managed to enter into different markets successfully.
The thesis used valuable literature and accurately attained data in analysing the marketing strategies employed by IKEA in China, as well as gathering information on cultural influences on consumer groups and the influence they have on market entry
The thesis used primary and secondary data from relevant studies on the topic in the post-recession era in a bid to understand the change in consumer behaviours and tact of MNCs. The thesis applied a quantitative research design to develop inferences on the strategies IKEA uses in the Chinese market compared to the Finnish market. A comparison was made between the approaches used in China and Finland to understand essential aspects of international expansion, marketing and integration.
Consumer markets vary from preferences to choices with the changing times and innovations as well as development in technology. Changes in the markets pose a challenge to corporates globally and shape the marketing strategies of MNCs in different regions. The thesis answered the research ques-tion of how the changes in consumer markets may affect international corporations and how the shift in the expansion approaches used by IKEA affects critical business areas of marketing, management practices, and human resource. It, moreover, examined how replication, together with other strategies like localization, and standardization blend in with different cultures and environments, thereby citing how IKEA managed to enter into different markets successfully.
The thesis used valuable literature and accurately attained data in analysing the marketing strategies employed by IKEA in China, as well as gathering information on cultural influences on consumer groups and the influence they have on market entry