New Product Development for IKEA: A Strategic Analysis
VerifiedAdded on 2023/02/02
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AI Summary
This report examines IKEA's new product development strategies, focusing on challenges like high employee turnover and solutions utilizing the commercial funnel. The analysis covers the company's background, identifies problems, and proposes ideas for new products and services, such as internet grocery shopping and flexible working options. The report details the application of the commercial funnel to address issues, including matching goals to resources, identifying risks, and addressing leadership challenges. It also explores key performance indicators, employee feedback, and tools for testing new product effectiveness, like market testing and prototype testing. Finally, the report discusses intellectual property rights protection through patents, trademarks, and trade secrets, concluding with recommendations for IKEA to improve its product development process and protect its intellectual property.
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