Day 2

How low are IKEA prices? They are:

• [A] the lowest on all home furnishing products

• [B] lower than all local competitors

• [C] substantially lower than their competitors

• [D] at least as low as their competitors

• [E] low enough to make a profit.

How does Ingvar Kamprad describe the IKEA product range?

• [A] Home furnishing products for every part of the home

• [B] Functional and affordable

• [C] The IKEA Concept

• [D] The IKEA identity

• [E] The IKEA Brand.

How is the IKEA business idea expressed? Through:

• [A] inspiring home furnishing solutions

• [B] the IKEA product range – it is our identity

• [C] the IKEA trademark and word mark

• [D] democratic design

• [E] IKEA Swedish influence.

How is the quality level set for IKEA products? It is:

• [A] adapted to raw materials

• [B] based on the highest furniture standards

• [C] based on environmental standards

• [D] adapted to consumers’ long-term interests

• [E] based on the highest standards and top

  industry norms.

How would you describe IKEA low price with a meaning?

• [A] The best value-for-money in every function

• [B] Priced 20% lower than competitors

• [C] Priced lower than competitors

• [D] IKEA prices are lower every year

• [E] Price tags explain the meaning.

How does the IKEA Concept support IKEA retailers in their local markets?

• [A] It supports a clear and strong brand position

• [B] It helps IKEA retailers increase ecommerce

• [C] It protects IKEA retailers from local competition

• [D] It communicates the IKEA culture and values

• [E] It protects the IKEA trademark.

How do we secure IKEA genuinely

low prices?

• [A] By reviewing and adjusting IKEA prices once a month

• [B] By rational, effective manufacturing in large volumes

• [C] By purchasing global manufacturing capacity

• [D] By aggressive pricing strategy

• [E] By competitor monitoring.

How do managers demonstrate

IKEA values?

• [A] By communicating the culture and values to consumers

• [B] By leading and managing based on the values

• [C] By continuously reviewing and updating the values

• [D] By adapting the values to current business trends

• [E] By training co-workers to live the values.

How do flat packs best support IKEA low prices? They:

• [A] reduce the environmental impact of the IKEA supply chain

• [B] support home assembly of IKEA products

• [C] reduce transport and storage costs

• [D] simplify product design

• [E] reduce inventory costs.

How does the IKEA mechanical sales system help customers make decisions?

• [A] With helpful co-workers

• [B] With a generous return policy

• [C] Through the use of IKEA style groups

• [D] With price, function and quality information

• [E] Through the use of the price and quality ladder.