Product market combinations
4D-printing of products is not used in production yet. For IKEA the market will stay the same with the new products.
Market
IKEA is in a global market with stores all over the
world. In total IKEA has 460 stores in 62 markets, with that IKEA is the world largest
furniture company. They are famous for their flat packing and leaving the
assembly for the customer. IKEA serves the unique
functional needs of each target audience, with special attention to
16-34-year-old adults. It has solutions for:
- Bachelors
- Single people not living at home
- Newly married couples
- Families with the youngest child under six
- Older married couples with dependent children
- No children families
- Retired
- Students
- Mono-segment positioning. It appeals to the needs and wants of a single customer segment that is cost-conscious and prefers value for money.
- Adaptive positioning. It believes in periodically repositioning products and services to adapt to changes in customer preferences. Its Swedish furniture chain considers the dynamic nature of customer preferences. For instance, its latest products reflect increasing minimalism on the global scale.
The 4D flat printing has potential in the
same market. For IKEA as a brand it is important to keep the same image. The
affordable pricings IKEA is known for, also has to apply to the potential 4D
products. Because the market for IKEA is focused on an age range from 16-34 the
customers often are open to innovative products.
Product
4D-printing is a new product, so the demand for this kind of product for the customers is not clear yet. The packing of the product can be the same as the way they are packing now. The difference is the time that customers are spending putting everything together. Some people don’t have the time or the skills to put everything together. With the new way of 4D printed where it can assemble by applying heat or water.
4D-printing is a new product what still is
in development. If you take a look at the market, it will be in product
development in the near future. It the beginning it will apply to simple products
or parts bigger products. Therefore, they will not get in a new market because the
products don’t change enough.
In the long term it will get more to diversification because they can get to a new market. For example, people who don’t want to assemble the product by themselves. With the 4D printing products as chairs or desks will be able to assemble by itself.
The environment can also be a crucial factor with this product and way of transportation. Because of less transport capacity so a smaller carbon footprint the existing and new market can get customers attention to buy at IKEA.
Sources used in this post
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