Assessing Ikea's Entry into India Using Pestle Analysis and Market Segmentation % to 25%, but regulations may affect foreign investment. The government also changes power frequently and everyone focuses on their own agendas, which poses power and budget risk for the furniture market. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essayEconomicIndia has one of the fastest growing economies, with annual GDP growth of around 7%, supported by increased investment (India average 2018), and the employment, and therefore expenses. However, the introduction of the Goods and Services Tax could slow down India's economic growth rate (GST). Sociological With globalization, Indian culture, typically traditional and religious (Overgaard 2010), has increasingly turned to imported furniture, also due to the influence of the international lifestyle. trends as well as higher disposable income. Tech India has had poor performance in research and development but has improved it with increased budget and investment. India has an impressive network of science and technology institutions with an experienced workforce. Local competitors in the Indian furniture market are increasing with the e-commerce market. Environmental The furniture market can produce electronic waste, thereby increasing the carbon footprint. Transportation of furniture may include additional packaging materials like plastic or cardboard, increasing waste if they are not recyclable. Legal Employment laws in India differ across states. India does not have specific legislation on privacy and data protection, but the Information Technology Act, 2000 protects electronic data to a certain extent, such as collection, processing and storage of personal data. Overall, IKEA's entry into India is feasible as regulatory laws go. are gradually becoming less strict and increasingly interested in global lifestyle trends, making them a great business opportunity. Market SegmentationDemographicsIKEA is expected to focus on adult-age customers, both male and female, who may be students or professionals with some disposable income. As IKEA focuses on a variety of household items, it could focus on all stages of the life cycle; singles or married couples are upgrading their homes, with products also aimed at children. GeographicCustomers preferably living in urban, modern spaces, which fit the ideal demographic. PsychographicCustomers from the middle or working class with high disposable income and having a personality to continue spending on products they don't necessarily need, or on impulse purchases. These customers should be heavy users of IKEA products and promotional efforts should be focused on them to maintain their loyalty. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Custom Essay Due to IKEA's mass production, the above market segmentation best fits its needs and ability to provide.

Essay / Assessing Ikea's Entry into India Using Pestle Analysis and Market Segmentation % to 25%, but regulations may affect foreign investment. The government also changes power frequently and everyone focuses on their own agendas, which poses power and budget risk for the furniture market. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essayEconomicIndia has one of the fastest growing economies, with annual GDP growth of around 7%, supported by increased investment (India average 2018), and the employment, and therefore expenses. However, the introduction of the Goods and Services Tax could slow down India's economic growth rate (GST). Sociological With globalization, Indian culture, typically traditional and religious (Overgaard 2010), has increasingly turned to imported furniture, also due to the influence of the international lifestyle. trends as well as higher disposable income. Tech India has had poor performance in research and development but has improved it with increased budget and investment. India has an impressive network of science and technology institutions with an experienced workforce. Local competitors in the Indian furniture market are increasing with the e-commerce market. Environmental The furniture market can produce electronic waste, thereby increasing the carbon footprint. Transportation of furniture may include additional packaging materials like plastic or cardboard, increasing waste if they are not recyclable. Legal Employment laws in India differ across states. India does not have specific legislation on privacy and data protection, but the Information Technology Act, 2000 protects electronic data to a certain extent, such as collection, processing and storage of personal data. Overall, IKEA's entry into India is feasible as regulatory laws go. are gradually becoming less strict and increasingly interested in global lifestyle trends, making them a great business opportunity. Market SegmentationDemographicsIKEA is expected to focus on adult-age customers, both male and female, who may be students or professionals with some disposable income. As IKEA focuses on a variety of household items, it could focus on all stages of the life cycle; singles or married couples are upgrading their homes, with products also aimed at children. GeographicCustomers preferably living in urban, modern spaces, which fit the ideal demographic. PsychographicCustomers from the middle or working class with high disposable income and having a personality to continue spending on products they don't necessarily need, or on impulse purchases. These customers should be heavy users of IKEA products and promotional efforts should be focused on them to maintain their loyalty. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Custom Essay Due to IKEA's mass production, the above market segmentation best fits its needs and ability to provide.

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