IKEA :How to grow sales by 200% using Pricing STRATEGIES?: Business Case Study

October 30, 2021 By admin 0


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IKEA is one of the most innovative companies of the 21st century! and the most astonishing thing about IKEA inspite furniture being a highly localised business, IKEA has been the pioneer in turning the furniture business into a global success by drawing a revenue 45 billion dollars from 445 stores spread across 30 countries!

And whats more important to note is not the growth of the company but the fact that IKEA taught the world how to use the most powerful psychological tactics to exponentially increase sales!and today you are going to learn one such strategy that makes IKEA stand apart from the competition and no matter which business you are in, no matter which field you are in, you can use these powerful psychological strategies to double your profits at zero cost!!

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Study material
Importance of Democratic design by an IKEA’s head of Design

IKEA’s official note on Democratic design

Books
Misbehaving: The Making of Behavioural Economics

Nudge: Improving Decisions About Health, Wealth and Happiness

Thumbnail by nethulajangaiah@gmail.com

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