Read the IKEA case study presented below and answer the followin 1. What are some of the things IKEA is doing well to reach consumers else could it be doing? 2. IKEA has essentially changed the way people shop for furniture. Dis strategy, especially as the company plans to continue to expand in place IKEA IKEA was founded in 1943 by a 17-year-old Swede named Ingvar Kamprad who sold pe shed on his family's farm. The name IKEA was derived from Kamprad's initials (IK() and the fi village of Agunnaryd where he grew up (EA). Over the years, the company grew into a retail ti cultural phenomenon, inspiring Business Week to call it a "one-stop sanctuary for coolness" and inspires remarkable levels of interest and devotion from its customers. Each year more than 65 all over the world. Most need to drive 50 miles round-trip but happily make the effort in order proposition: leading-edge design and functional home furnishings at extremely low prices.IKE well made and appeal to the masses. To stay relevant and fashionable, the company replaces ap lines each year. Most have Swedish names, such as HEK.TAR lamps, BILLY bookcases, and L dyslexic, believed it was easier to remember product names rather than codes or numbers. Besi quality products, IKEA stands out in the industry because of its bargain prices. The company's a better everyday life for the many people." As Kamprad said, "People have very thin wallets high percentage of its customers are college students and families with children. IKEA continuo businesses more efficiently and pass those cost savings on to the customer. In fact, it reduces pr 3 percent annually. How can it do so? For starters, IKEA engages the consumer on many levels the shopping, shipping and assembly. IKEA's floor plan is designed in a winding one-way for room settings, so consumers experience the entire store. Next, they can grab a shopping cart, pa and pick up their purchases in flat boxes. Consumers load the items in their car, take them hom themselves. This strategy makes storage and transportation easier and cheaper for the store. IKE company-wide strategies to keep operational costs low. The company buys in bulk, controls the materials, and saves on electricity through solar panels, low-wattage light bulbs, and energy fro countries. Its stores are located a good distance from most city centers, which helps keep land develops new products, its designers and product developers start with a low-price tag first and suppliers around the world to develop the product within that price range. Designs are efficient stores resemble a large box with few windows and doors and are painted bright yellow and blu IKEA's products are sold uniformly throughout the world, but the company also caters to local in China stock specific items for each New Year. During the Chinese Year of the Rooster, IKEA with rooster themes, which quickly sold out. When employees realized U.S., shoppers were buy they considered IKEA's regular glasses too small, the company developed larger glasses for the visited European and U.S. consumers in their homes, they learned that Europeans generally har prefer to store them folded. As a result, IKEA designed wardrobes for the U.S. market with dee country or region vary as well. For example, managers learned that many U.S. consumers thou Beds are very important to U.S. consumers, so IKEA quickly changed its U.S. showrooms to fe