IKEA’s Social Media Listening & Monitoring Initiatives
| Case Code: ITSY082 Case Length: 12 Pages Period: 2009 - 2015 Pub Date: 2015 Teaching Note: Available |
Price: Rs.300 Organization: IKEA Industry: Furniture Retail Countries: Europe; US; Global Themes: Social Media Listening, Social Media Monitoring, Business Intelligence, Marketing Research |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background
Ingvar Kamprad established IKEA in the year 1943 when he was just 17. The name IKEA was formed by a combination of the first letters of his name (Ingvar Kamprad) with the first letters of the farm and village in which he grew up (Elmtaryd and Agunnaryd). IKEA was begun in a shed that was just two square meters in size. Kamprad bought pens, Christmas cards, matches, cigarette lighters, nylon stockings, and other items in bulk at a reasonable price and sold them to the residents of Smaland and made a profit. He used trucks that delivered milk to transport his packages to save money. As his business grew, however, making individual sales calls became cumbersome. So, in 1945, Kamprad started promoting his business through mail order catalogs. In 1947, IKEA introduced furniture in its portfolio.
With this leading to a tremendous increase in sales volume, Kamprad discontinued all other products in 1951 to concentrate entirely on furniture sales. His furniture was reasonably priced, yet stylish. In the same year, IKEA launched its product catalog. According to IKEA, the catalog had been its inspiration since its launch. The catalog had been compiled with exciting stories behind its products and new ideas that made its customers love its products and inspired them to buy the products...
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