Question

As the company prepares to sell and open more stores in the Indian and Chinese markets, which type of strategy would you recommend to best help IKEA expand

Answer 1

Business Environment Research

Step-by-step explanation:

Very intensive 'business environment research' strategy is important for any company trying to open more stores in any new market. Business Environment refers to external factors that affect a business.

All the aspects of market environment

• Economic (Growth, Income, Monetary Policy, Interest etc)
• Political (Political stability, business community trust)
• Legal (Laws, Rules & Regulations, Mandates etc)
• Social (Customs, Beliefs, Lifestyles, Values etc)
• Technological (Ongoing scientific & technical upgradations)

It is important to understand all these aspects to be able to understand a market better, & sell (expand) their successfully.