Marketing Concept in Practice at IKEA

INTRODUCTION
Ingvar Kamprad, a Swedish catalogue king, founded IKEA in 1947. IKEA is an acronym for his name, the farm and hometown, Elmtaryd, Agunaryd. IKEA has evolved over the years and has developed into a unique concept offering affordable quality home furnishings within numerous stores scattered across the globe. IKEA is guided by a corporate philosophy spelled out in the founder's quasi-religious book 'Testament of a Furniture Retailer' .
IKEA emphasizes on responding to the home furnishing needs of people throughout the world, it even changes some of its designs to suit the differ…