How Ikea Turned Price Into a Win
The folks at Ikea have become major players in merchandising by being quick on their feet.
It was an opportunity to use the huge difference in price as a marketing tool.
Today, I saw a humorous story at Adweek about Ikea’s reaction to an expensive competitor. It seems someone developed a very pricey bag almost mirroring Ikea’s 99 cent bag. It was an opportunity to use the huge difference in price as a marketing tool.
A psychology professor once told me we buy images and not products. For example, when I bought a Wrangler many years ago, a friend explained I had just bought lifestyle instead of a 4-wheel drive utility vehicle.