Contact information:
317 Alexandra Road, Singapore 159965
tel: 6786 6868
fax: 6474 3200
Normal opening hours (some exceptions apply):
Open daily: 10 a.m. to 10 p.m.
If you're coming by bus:
33, 195
33, 64, 195
14, 123, 147, 153, 196, 197, 198, 855, 961
51, 61, 93, 100, 123, 147, 153, 196, 198, 855, 961
14, 33, 51, 61, 93, 100, 195, 197
If you're coming by MRT:
From Commonwealth MRT: Take either 196, 198 or 147 along Commonwealth Secondary School and drop at SAFRA Bukit Merah. You can also take 195 and alight just before the IKEA building.
From Redhill MRT: From the bus stop opposite the station, take either 64 or 33 and alight just before the IKEA building.
From Queenstown MRT: Take 195 along Queenstown Police Station and alight 3 stops later just before the IKEA building.
If you're coming by car
Parking: Carpark opens from 7am - 11pm. Using an Electronic Parking System (EPS), parking will be free for the first 10 minutes upon entry, while anything beyond 10 minutes is 1.7 cents per minute from the point of entry. Parking charges are only payable by cashcard. A $30 fee will be imposed for opening the carpark roller shutter after 11pm.
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Price Management
Pricing Strategies
Everday Low Pricing - Price is set between regular non-sale price and deep discount sale price of a Hi-Lo Pricing competitor.
Hi-Lo Pricing - Regular prices are set above the prices of an EDLP competitor. However, the products are frequently on sale at lower prices.
As a category killer, IKEA uses the former, EDLP. They want their products to be affordable by as many people as possible. They hardly come out with any sales promotion.
Price Setting Methods
Demand-Oriented - Setting price according to how much consumers are willing to pay.
Cost-Oriented - Mark-up a fixed percentage on the cost.
Competitor-Oriented - Price set in relation to competitor's prices.
Out of the three, IKEA is definitely not competition-oriented. We feel that it is most likely demand-oriented as they set their prices at the price all consumers can afford.
How is IKEA able to set low prices for their products?
Seeing things differently
A door was decided to be used as a tabletop when a IKEA product developer toured a door factory that used board-on-frame construction - a layering of sheets of wood over a honeycomb core that gives a strong, lightweight structure with a minimal wood content. This type of construction is cost-effective and environmentally friendly and is used today in IKEA products such as the LACK table from 1980.
IKEA Stores
To help keep prices low, IKEA stores buy and transport products in bulk, are located in less expensive areas and take advantage of the self-service and assembly concept.
Basically, IKEA lowers its cost as much as possible in order to provide customers low pricings.
Done @
8:42 PM
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