IKEA :How to grow sales by 200% using Pricing STRATEGIES?: Business Case Study
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- Опубліковано 21 лип 2024
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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
• Marcus Engman: How IKE...
IKEA's official note on Democratic design
about.ikea.com/en/life-at-hom...
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#thinkschool #IKEA #communicationmasterclass #Ikeacasestudy #businesscasestudy Credits: CNN-News 18, WION, NBC News, Money control pro, Business standard, TV18,Business Today, ABC news, CNBC, ET now ,Bloomberg originals, Financial Times, DW documentary, AL Jazeera English, BBC news, Firstpost. Fair use - This video is for educational purposes only. All materials used in this video, including images, audio, and video clips, are the property of their respective owners and are used here under the doctrine of fair use. This video is intended to provide commentary, criticism, research, and education on the subject matter. We believe this constitutes a fair use of any such copyrighted material as provided for in Section 107 of the US Copyright Law.
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Make next video on how to study for long hours... and dont get distracted..
Pls
Incredible pricing strategy ...You always coming up with such insightful cases studies that make me deep dive into the topic immediately next day... Thankyou sir for this informative and useful strategy that I have never thought of...I will definitely purchase ur communication class...if such free youtube case studies are giving million dollar business lessons and if applied rightly will able to generate huge profit...I think ur communication class would be ultimate dhamaka this diwali ... Thankyou sir for this AMAZING DIWALI GIFT🎉🎉...I am very excited to interact with you during live sessions..🎉
Your videos not only helps me to get knowledge but also improving my communication skills. Thank you!
It's expensive
How they cover there losses of decoy as no one will purchase that product and on if budget product is chosen then the profit from low margin products would same as cost decoy product just curious to know how this works???
I had appiled the same strategy while presenting thr candidates to my clients. I used to send the best candidates to my clients and they use to reject. One day i was so pissedoff because i knew I have given the best and i did not have a better candidate in the market, so I sent very average candidate who was readily available because i did not have a better choice. You know what the client compared the average guy with the best guy and choose the best guy. I realised that if we give 3 best it will confuse the client. from then I sent 1 average guy 1 poor guy and 1 best guy from that time I knew the result before the client would call me. Everything is experience. Your videos are so informative and motivating. Me being a new startup entrepreneur these content really means a lot. You are really inspirational and motivational.
When it comes to content and speaking skills the way think school puts it across is spectacular and amazing
can't agree more...much love from🇧🇩
Amazing video on an interesting subject. Your analysis and presentation is wonderful.
Like seriously putting up beautiful and attractive adjectives with zero content is spectacular for you......
LMAO😂😂😂😂😂
Yes agree ..... views too are not biased ...... Seem more research based
@@dhairyapatwa4948 stay mad
These case studies are way better than those MBAs. Sir also continue the series of tech giants companies.
True
Is this wat mba teaches?
@@ridhiagarwal8524 yes. Any top Bschool has case study pedagogy wherein you learn these things and also learn what mistakes a conpany made and what do you do differently if you were in their place.
@@gameranonymous35 my
@@vilhasdesai6907 your?
Some day probably there will be a business which will apply all the best aspects of every company to its own also probably being a Think School viewer.
*Think School student
I'm a bba student and your content and case study helpful for me to enhance my skills 🤟♥️
You're doing bba in?
So true ,
Neither do I buy popcorns in a theatre
And the example of decoy effect that we often use may not always amuse customers
Ex - Popcorns and Apple products
& even McD French Fries too.
You should write a book on all these business strategies you have researched. It will be an awesome book
The information wil be obselete
in my entire career I haven't liked any video without watching it fully
But Every video of THINK SCHOOL broken my rule
I learnt the same pricing example in book named "Predictably Irrational" an amazing read.
Think school deserves more. like me who thinks
Can't imagine how much effort has been put into the video.
Waiting for much more content like these.❤❤❤
The Case study was really awesome and informative.
If you include some case studies with failures and the reasons behind them, it will contribute immensely to the learning insights of all of us.
Thank you so much for showing insights on various case studies. 🌸
This channel will soar high like Himalayas. 🌸🌸
The only channel for which appreciations don't stop!
Perfect balance of content and knowledge. Thank you so much for sharing such complicated info in such simple terms. ❤️❤️
Loved this video. Helped rethink pricing my offerings. Power to you!
you are making great videos, great edits, great content.
when ganesh brother explained decoy effect ,i immediately hitted the like button, very easy explanation using simple examples
You are insanely brilliant. 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥I have no words to explain you and your channel.
This channel deserve subscribers in millions .... ❤️
@Think school
Your content is so good...
Just can't stop watching !
2nd video on IKEA and it's worth it
Beauty of analysis and explanation put content directly into deep mind.. As usual you just cracked it. Thanks Think School.
You and your whole team ...just amazing. Research, examples, terms used to explain the business process... really helpful for people like us who have just basic knowledge of finance and business. Thanks a lot bro👍
ua-cam.com/video/NgNjFgcHhgs/v-deo.html
What an amazing analysis and communicating it back to the viewers. Great job buddy!
Really appreciate your hardwork bro. More power to you👍
Man what a video!! 🔥🔥❤️❤️..best channel on UA-cam right now 🔥🔥
Now I have realised how broadband distributors use decoy effect n make me purchase some plans which I find beneficial but in reality doesn't add much difference for domestic use like higher mbs plans
Amazing Psychological hacks 🙌
Well explained as always ❤️
You guys are doing wonderful a job!
Being from the retail Industry, l realize how Ecommerce has affected the brick and mortar format quite a bit.
Could you do a case study comparing how different companies retain customers via online and offline channels?
I would gladly help you out on this if needed.
Are ya the daughter or rahul tripathay??
Me too . But you can shift to e commerce
Loving video 💕, enjoying while watching and getting 👏👏information, wisely take cared tactic 🔥stretegy.
Next to impossible not to be liked such kind of stuff and content of stretegy 💯💯💯
Can't go without liking the video, thanks bro.
I'm going to write into my resume...
MBA from Think School!
Boss your content are really awesome!!
Well done man this video has given idea for my business which was not growing thanks
Ganesh bhaiyya/sir, I'm in 11th & have just started earning through part-time job, I'm not in condition of buying your course just now, but in coming 4-5 months I definitely will.
I hope you will be their( in live sessions) to clear my doubt too.
You blown my mind with this Decoy effect 🤯....Thanks alot man for your efforts and knowledge sharing 👌🏼...
Thanks! One of the sensible channel to follow. The topics definitely motivates to think deeper or think different or gather useful information.
Hi Sir , I absolutely love your business case studies and the knowledge that you share with us. I just have one recommendation regarding the videos. Would you mind reducing the stock videos just a bit!?I'm not asking to stop them all together.Just reduce them a bit. I liked how you used to converse more in your previous videos.
This is the Topic I have known before and u explained it so nicely.
Thank you so much for this video !!
Respected Sir,
First of all I am highly thankful for providing us such kind of innovative case studies.
Further, requesting you to make a video upon price research and price process.
Thank you in advance.
Regards
All the videos have been helpful to me and I’ve applied almost all the strategies in my business. If you even ask to pay for the watched videos, I can do that!
Awesome Thank You For Sharing This
Hi Ganesh, you should create a catalogue of books on amazon with your affiliate link... I recently bought "Hooked" but couldn't find any affiliate link
Hands down! U r very good an articulator sir.. Congrats 🎉
Make a Q&A video or a introduction video about urself and channel.. Then people will remember channel name as well as urs.. U got me into behavioral economics with just two videos.. Good one!
Highly recommended for his communication course ❤️🙌
Thanks bhai ❤️
I just love your videos ❤️❤️ btw can you please upload your videos in the morning time?
Apple uses the Decoy Effect in its iPhones. It offers 4 phones in various sizes and keeps the price for the middle 2 phones somewhat the same, so that people buy the higher end because it offers more features. An amazing one.
Present buddy🙋❤️
Always worth watching, keeping other things aside ❤️
Thank you ❤️
The content of think school is ahead of the curve.
I am consuming your content for a pretty long time now. Your insights and selection of content has enabled me to enter into the journey of an Ed Tech entrepreneur.
I am highly thankful.
With regards
Barkat Ahmad
All the best👍💯
Shut up
@@dhimankalita1690 😐
@@dhimankalita1690 avg anime tard🤡
@@infamousgarchomp2592 chup sale chapri ja bollywood Dekh
Good presentation good audio quality.. nice editing lot and lots of clips and mix... thanks
Wow, amazing case study
Decoy effect was very interesting 😊
Here i first time I saw you and i will gone to fall in love with your confidence and work . ❤️❤️ Thanks you
Mr. Prasad, your are a great teacher👏👏
things which were never covered in my MBA class, so iam getting Ideas from here, thanks & good luck bro
Instead of joining schools and college, It's good to join your youtube channel.
Well researched and well explained.Gods gift
Mannnn.. waiting for your 1 million subs ❤❤❤❤❤❤❤❤❤ such a valuable channel ❤😀😀😀
Love love love your contents!
Great fan of how you communicate the buisness ideas so effortlessly
Thank you bro for uploading such amazing content and teaching us so many things.
Extremely valuable .. Thank you so much for this video
The greatest ecosystem is always created by learning the subject deeply....
Thanks again for sharing business tactics for pricing .
Your Case Studies are beautiful and in-depth. From where you get to learn the business strategies and case studies of companies.
Happy to see your video 😃
Thank you for sharing decoy effect and making it so simple
Your content for finances and buisness case study is just brillant
The best channel in UA-cam I have ever. Visited sir.
Thank you sir 🙏🙏.
Great video. Sorry for beign late I had school ☹️
thanks a lot for this amazing case study
You give so much value...which s unbelievable...I paid 90000 for a course....its teaching us nothing....u are giving so much for free.....God Bless
Case study always helps me to think differently 🙏👍
This is the same decoy effect used by many smartphone companies...
I will say u one thing bro that keep rocking with ur lectures. I will always support u..
Best video on this channel
Nicely put together and engaging!
Make a video on different variants of car models. It will help car buyers to choose better option.
Outstanding, hats off to #ThinkSchool Team. Also, you were looking good in both t-shirts. Lol
Wonderful Video.... Thank you, Bro....
Every new video of yours is surprising me every time.
You dont need youtube baba to be happy man you this is type of content is very rare and precious on this platform !!
Loved it ❤️
If anyone used this strategy it in their business or planning to use it ....share about it 💯 and we all can learn
Thanks bro for the wonderful learning video
I'm not kidding, from last 3 days I've been watching your channel....
I mean damn.... high class production value + Genuine knowledge + Gripping storytelling.
I'm here for the long haul brother 😎
❤️❤️ :)
@@ThinkSchool thanks bhaiya :)
I hit the like button before I even finish 10 secs of the video, no questions on content for sure.
The decoy effect clearly explained. Well done.
Thanks for posting such wonderful videos always. You should add the Fox Studio sound in background when you say 'Ladies and Gentlemen', it will be more amazing to listen. You are an excellent person and an intelligent soul. Please keep posting and sharing knowledge. Thanks 🤟🏻
You are simply superb
You seem to be master in whatever you talk
Keep it up
Well illustrated and facilitated learning.
Wonderful video, great content
At first instance - Subscribed - Thanks for Marvellous Presentation - also expecting on Indian FMCG Sector at the earliest🌷
Love your content bro
I literally hit the like button within 30 sec of the video and i did not the regret it
Your voice + Background music 🎼 Best💥
Every time your video coming I learn somithing new in my life
Well explained the Decoy theory effect.....good analysis too
So consistent in video making 💥💥💥
Very interesting. Very useful.
Hey Ganesh, great work. Just wanted to know that if Xiaomi is applying the same strategy of decoy effect and has now ranked with highest sales and is catering to all types of customers with very less price difference.
i learn a lot from this video...thank u so much