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Congratulations or, as they say in Swedish, gratulerar IKEA for winning the Brand Salsa Topper award for Best Foreign Brand!
To know more about the name IKEA and how IKEA names its products, check out an earlier post by Maghan!
When assessing brands we in market research often ask respondents to share their initial impressions and any images or associations they may have with a brand. This helps bring to light possible strengths and weaknesses of a brand that those involved with naming and managing a brand might not have anticipated. I do not have formal survey data to analyze but I do have testimonials from some of the 4,000+ customers who braved the rain to be the first to enter our new IKEA here in Charlotte. In reading local coverage of the grand opening the popular reasons people gave for waiting not hours but days to have their chance to buy IKEA products were: low prices, great design, stylish products, and a family friendly atmosphere. As one who recently visited the new store, I would add “entertainment” and “inspiring creativity” to the list of reasons and first impressions.
Given that IKEA’s tagline is “affordable solutions for better living,” it’s clear from these testimonies that one of IKEA’s strengths is establishing and promoting a clear brand identity and focus. There approach to operating at the intersection of stylish design, function, and affordability is by setting prices first. Designers and production managers are then allowed to let their imaginations go wild within the price parameters. It’s almost like a MacGyver approach to product development; how interesting can you make a plate that must cost $1.99.
IKEA’s other strength is that they invite everyone who passes through their doors to experience their brand. Customers can see pictures of kitchens and living rooms using IKEA furniture in catalogues, but in the store customers get to open the kitchen cabinets and lounge on the couch. Customers are then experiencing the brand on multiple sensory dimensions which makes IKEA distinct and the experience of shopping for furniture fun and enlightening. Living in a small apartment or condominium can be challenging but a few hours at IKEA and you leave with lots of ideas for how to use small spaces efficiently.
From your quirky cheese graters to your stylish couches, I tips min hatt (tip my hat in Swedish) to you IKEA. Thanks for a place where adults can play house and for the affordable, snazzy products that spruce up our homes.
Click here to see an example of IKEA’s creativity.
Contributed by Evelyn Chapin
