IKEA :How to grow sales by 200% using Pricing STRATEGIES?: Business Case Study

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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...
Books
Misbehaving: The Making of Behavioural Economics www.amazon.in/dp/0241951224/r...
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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.

Пікірлер: 689

@ThinkSchool 2 жыл бұрын

Learn how to tell great stories from Think School: communication.thethinkschool.com/yt Communication masterclass is an action-oriented pre-recorded 6 week course. We also have Live Q&A session every week to solve your doubts. To know more visit this link: communication.thethinkschool.com/yt

@doesntmatter8949 2 жыл бұрын

Make next video on how to study for long hours... and dont get distracted.. Pls

@ranuraje913 2 жыл бұрын

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..🎉

@jnp9155 2 жыл бұрын

Your videos not only helps me to get knowledge but also improving my communication skills. Thank you!

@vedicstories7903 2 жыл бұрын

It's expensive

@97_sumeetbhosale63 2 жыл бұрын

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???

@jinaysarvaiya4905 2 жыл бұрын

When it comes to content and speaking skills the way think school puts it across is spectacular and amazing

@saimon2fx 2 жыл бұрын

can't agree more...much love from🇧🇩

@anirbande4003 2 жыл бұрын

Amazing video on an interesting subject. Your analysis and presentation is wonderful.

@dhairyapatwa4948 2 жыл бұрын

Like seriously putting up beautiful and attractive adjectives with zero content is spectacular for you...... LMAO😂😂😂😂😂

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Yes agree ..... views too are not biased ...... Seem more research based

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@@dhairyapatwa4948 stay mad

@satyameva_jayatee 2 жыл бұрын

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.

@shibabrataghosh6858 2 жыл бұрын

These case studies are way better than those MBAs. Sir also continue the series of tech giants companies.

@AkshayKumar-jq9ph 2 жыл бұрын

True

@ridhiagarwal8524 2 жыл бұрын

Is this wat mba teaches?

@gameranonymous35 2 жыл бұрын

@@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.

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@@gameranonymous35 my

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@Captain-RANA 2 жыл бұрын

I'm a bba student and your content and case study helpful for me to enhance my skills 🤟♥️

@abhishek.m1422 2 жыл бұрын

You're doing bba in?

@himanshujaiswar8581 2 жыл бұрын

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.

@vedantbhosle5508 2 жыл бұрын

*Think School student

@QuickRounders 2 жыл бұрын

Think school deserves more. like me who thinks

@punarnavaviswanath4304 2 жыл бұрын

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

@whitedevil3631 2 жыл бұрын

& even McD French Fries too.

@galireddyvuduthuri3299 2 жыл бұрын

in my entire career I haven't liked any video without watching it fully But Every video of THINK SCHOOL broken my rule

@subodhpatel3179 2 жыл бұрын

Can't imagine how much effort has been put into the video. Waiting for much more content like these.❤❤❤

@naveenkumars5125 2 жыл бұрын

I learnt the same pricing example in book named "Predictably Irrational" an amazing read.

@insta.t 2 жыл бұрын

You should write a book on all these business strategies you have researched. It will be an awesome book

@fairuzazli6468 2 жыл бұрын

The information wil be obselete

@ayushbharadiya8051 2 жыл бұрын

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.

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The only channel for which appreciations don't stop!

@heckervarun 2 жыл бұрын

when ganesh brother explained decoy effect ,i immediately hitted the like button, very easy explanation using simple examples

@bhawnasharma6557 2 жыл бұрын

Thank you so much for showing insights on various case studies. 🌸 This channel will soar high like Himalayas. 🌸🌸

@anannyagavade5654 2 жыл бұрын

Loved this video. Helped rethink pricing my offerings. Power to you!

@varshavageesh4887 2 жыл бұрын

Perfect balance of content and knowledge. Thank you so much for sharing such complicated info in such simple terms. ❤️❤️

@tanujkelkar9013 2 жыл бұрын

You are insanely brilliant. 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥I have no words to explain you and your channel.

@EntertainmentisEverything 2 жыл бұрын

This channel deserve subscribers in millions .... ❤️

@pratikjha2742 2 жыл бұрын

you are making great videos, great edits, great content.

@srisaisubramanyamdavanam9912 2 жыл бұрын

The greatest ecosystem is always created by learning the subject deeply....

@prasannapatwardhan5053 2 жыл бұрын

Man what a video!! 🔥🔥❤️❤️..best channel on KZfaq right now 🔥🔥

@punarnavaviswanath4304 2 жыл бұрын

@Think school Your content is so good... Just can't stop watching !

@punarnavaviswanath4304 2 жыл бұрын

2nd video on IKEA and it's worth it

@bhavyagosar2237 2 жыл бұрын

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 ❤️

@indianindian8323 2 жыл бұрын

What an amazing analysis and communicating it back to the viewers. Great job buddy!

@ragineemukhi7975 2 жыл бұрын

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👍

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@The_Purpose_is 2 жыл бұрын

Beauty of analysis and explanation put content directly into deep mind.. As usual you just cracked it. Thanks Think School.

@iampatelajeet 2 жыл бұрын

Can't go without liking the video, thanks bro.

@TheCharan732 2 жыл бұрын

You blown my mind with this Decoy effect 🤯....Thanks alot man for your efforts and knowledge sharing 👌🏼...

@krishnadas_3740 2 жыл бұрын

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.

@ravituteja6042 2 жыл бұрын

Every video showcases that psychology studying of consumers is key to most retail companies

@debojyotidutta4576 2 жыл бұрын

This strategy actually works greatly , cause we used this strategy in our store for years

@farhazsarang1876 2 жыл бұрын

Really appreciate your hardwork bro. More power to you👍

@cyruscroak1645 2 жыл бұрын

things which were never covered in my MBA class, so iam getting Ideas from here, thanks & good luck bro

@bharatibharati5260 2 жыл бұрын

This is the Topic I have known before and u explained it so nicely.

@thatindianbackpacker6285 2 жыл бұрын

Extremely valuable .. Thank you so much for this video

@shreyashachoudhary480 2 жыл бұрын

I'm going to write into my resume... MBA from Think School!

@13_dhruvparashar47 2 жыл бұрын

You dont need youtube baba to be happy man you this is type of content is very rare and precious on this platform !!

@barkatnida5102 2 жыл бұрын

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

@pradeepreddy6452 2 жыл бұрын

All the best👍💯

@dhimankalita1690 2 жыл бұрын

Shut up

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@@dhimankalita1690 😐

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@dhimankalita1690 2 жыл бұрын

@@infamousgarchomp2592 chup sale chapri ja bollywood Dekh

@sumeraki2424 2 жыл бұрын

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

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Mr. Prasad, your are a great teacher👏👏

@sidupadhyay1584 2 жыл бұрын

Highly recommended for his communication course ❤️🙌

@ThinkSchool 2 жыл бұрын

Thanks bhai ❤️

@avijitchaudhary1406 Жыл бұрын

Great fan of how you communicate the buisness ideas so effortlessly

@srisaisubramanyamdavanam9912 2 жыл бұрын

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..

@Swapnilshahu 2 жыл бұрын

Well done man this video has given idea for my business which was not growing thanks

@dancer_aish 2 жыл бұрын

Love love love your contents!

@Hsatav 2 жыл бұрын

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!

@talwikaur4355 Жыл бұрын

Thank you so much for this video !!

@madhu_modi 2 жыл бұрын

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 💯💯💯

@sahilpassi9230 2 жыл бұрын

Your content for finances and buisness case study is just brillant

@rajeswarivenugopal8297 2 жыл бұрын

Well researched and well explained.Gods gift

@RR-ul9tr Жыл бұрын

Thank you for sharing decoy effect and making it so simple

@ShashiKumar-jh6ro Жыл бұрын

Here i first time I saw you and i will gone to fall in love with your confidence and work . ❤️❤️ Thanks you

@Billionaireandpodcast 2 жыл бұрын

Loved it ❤️ If anyone used this strategy it in their business or planning to use it ....share about it 💯 and we all can learn

@ipsitatripathy2150 2 жыл бұрын

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.

@tariqulislam7051 2 жыл бұрын

Are ya the daughter or rahul tripathay??

@ojhakehustlers3634 2 жыл бұрын

Me too . But you can shift to e commerce

@doyouknow3491 2 жыл бұрын

Awesome Thank You For Sharing This

@ravikumar-ts8vh 2 жыл бұрын

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

@prabhavvyavhare8612 2 жыл бұрын

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.

@jayaramanp7267 Жыл бұрын

The decoy effect clearly explained. Well done.

@hingunirav 2 жыл бұрын

Thanks again for sharing business tactics for pricing .

@jyotichoudhary817 2 жыл бұрын

Present buddy🙋❤️ Always worth watching, keeping other things aside ❤️ Thank you ❤️

@akashpareek218 2 жыл бұрын

Boss your content are really awesome!!

@animeshsinghrajput1 2 жыл бұрын

Sincerely think-school deserves more 🙌🏻

@venkateshkumarbellala 2 жыл бұрын

I like the the way your differentiated with popcorn example.

@SanjuKademani 2 жыл бұрын

Instead of joining schools and college, It's good to join your youtube channel.

@ojaskarwande5449 2 жыл бұрын

Case study always helps me to think differently 🙏👍

@SusmitSarkar 2 жыл бұрын

Sometimes I think the MBA schools should directly refer your channel to all the students eager to learn actual things 🙂

@apekshaankur Жыл бұрын

Thanks! One of the sensible channel to follow. The topics definitely motivates to think deeper or think different or gather useful information.

@oldtime101shortsfanclub 2 жыл бұрын

Your voice + Background music 🎼 Best💥

@surendravishnoi5328 2 жыл бұрын

thanks a lot for this amazing case study

@nikunjpandey733 2 жыл бұрын

The content of think school is ahead of the curve.

@namandhengra5549 2 жыл бұрын

You are the greatest knowledge giver In the KZfaq community....

@Nazyaali110 2 жыл бұрын

Great pricing lesson, thanks!!!

@venkateswarreddy394 2 жыл бұрын

Every new video of yours is surprising me every time.

@sudipchattopadhyay2855 2 жыл бұрын

Thanks. As ALWAYS it enriching.

@rss7184 2 жыл бұрын

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!

@bahubali4963 2 жыл бұрын

Every time your video coming I learn somithing new in my life

@AnujSingh-kt1cs 2 жыл бұрын

So consistent in video making 💥💥💥

@jackiedoultani7500 2 жыл бұрын

i learn a lot from this video...thank u so much

@homemade2800 2 жыл бұрын

Continuing with MBA..THANK YOU

@wue7926 2 жыл бұрын

The best channel in KZfaq I have ever. Visited sir. Thank you sir 🙏🙏.

@aritradutta6250 2 жыл бұрын

I just love your videos ❤️❤️ btw can you please upload your videos in the morning time?

@rishabjain4679 Жыл бұрын

Thank you bro for uploading such amazing content and teaching us so many things.

@vivekkumawat5818 2 жыл бұрын

Wow, amazing case study Decoy effect was very interesting 😊

@RahulAroraHere 2 жыл бұрын

Hats off to you... Keep it up

@SoorajT 2 жыл бұрын

Thanks for the video

@ascen_dent7295 2 жыл бұрын

I don't know how to express my emotions but in simple words you changed my whole life Today just by explaining 1 topic so well, so I am very curious about how much potential you have, I really want to meet you personally and want to study under you 🥺, Please Help me do that 🙏🏻

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Woww amazing insights ❤️

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@mageshsundarravichandiran8241 2 жыл бұрын

Thanks bro for the wonderful learning video

@CypressVintage 2 жыл бұрын

Well illustrated and facilitated learning.

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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 2 жыл бұрын

❤️❤️ :)

@raunak1786 2 жыл бұрын

@@ThinkSchool thanks bhaiya :)

@pre_instar 2 жыл бұрын

I feel that Popcorn in that scenario is pretty close to Apple's products!

@comrade_rahul_1 2 жыл бұрын

Actually Not.. So in that case.. Oneplus 9 series is same.. Samsung also does the same thing. They play in safe way. That's it😊

@heckervarun 2 жыл бұрын

standard android- budget product flagship android- decoy product iPhone- premium product

@pre_instar 2 жыл бұрын

@@comrade_rahul_1 hmm they are all moving towards Apple- even Google is shifting!

@pre_instar 2 жыл бұрын

@@heckervarun Frankly speaking in Android, the top model feels to be decoy product- the flagships below the top are good

@comrade_rahul_1 2 жыл бұрын

@@pre_instar Then that's not the problem of Apple, then it will be problem created by Android OEMs. Apple always wanted to be only flagship (atleast in Performance). They used to release one phone per year. Since they wanted people who wanted an iPhone but don't want to spend more, they created SE.

@sudipchou 2 жыл бұрын

I have been following IKEA for over 2 decades and I have never found the 'decoy' pricing methodology in practice in any part of the world. Also IKEA has been studying the Indian market for nearly a decade before committing itself to enter the Indian mkt. As an architect, we have learnt the hard way the decoy effect of proposing designs in a known gradation of quality. We deliberately show a bad/insufficient design along with a probable good design such the Client recognises shortfalls of the inadequate design and appreciates the fulfillment of the those deficiencies in the 'better' design - where the entire thing is orchestrated.