Innovator

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SMARTkitchen |

Innovator Project |

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2 February 2012 |

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Contents

Combination of brands 3

IKEA 3

Philips 3

Smart objectives 5

Co-branding 6

The product 8

Target group 8

Analyses 10

Internal analysis Philips: 10

Internal analysis IKEA 21

External analysis: 25

Cost Estimation and Risk Analysis 27

Cost Estimation: 27

Product life-cycle model 27

SWOT 30

Marketing campaign 36

Promotion mix and media mix: 36

Combination of brands

IKEA

IKEA is founded by Ingvar Kamprad, a Swedish entrepreneur. With IKEA he wants to create a better everyday life. IKEA offers a wide range of well designed, functional home furnishing products for an affordable price. With these values IKEA is a trusted and well known company, which is also the competitive advantage that the company has.

What is in it for IKEA?

Broaden their clientele by approaching tech-savvy consumers.

Although IKEA is the largest home furnishings company in the world, it is not known for high tech products. They specialize in every piece of furniture possible, but not home appliances.

Customers looking for an affordable way to keep up with the latest home technologies will certainly be very excited about the IKEA/Phillips SMARTkitchen.

Phillips is a trusted name in technology, even if their current economic failures don’t show that. Paired with IKEA, a trusted name in home furnishings, it will surely convince the tech-savvy consumer that the SMARTkitchen is a worthwhile product, backed by two trusted companies in their own right.

Philips

Philips is founded by Gerard and Frederik Philips. With PHILIPS they want to promise an experience to people by “sense and simplicity”. PHILIPS wants to deliver solutions that are advanced, easy to use and designed for the needs of the customers.

Philips and IKEA both stand for the purpose of making life easier to people. This is the reason these two brands will be a perfect match. Next to that PHILIPS has had a...