Case 6: IKEA
In 1943, Ingvar Kamprad started his company, selling pens, wallets, picture frames and other such small items from his Swedish home base.
Five years later, he introduced furniture as part of his product offering, using wood from the forest behind his house. The popularity of his products is the reason why catalogues were launched in 1948, to showcase the items of furniture Ingvar had available in his company.
Due to competition from other low-priced manufacturers, the first showrooms were open in 1953. This allowed the customers to have a taste of what their furniture would look like in their homes. It’s what I call ‘experiential selling’, and is the model now used by many retailers, especially in the cosmetics industry.
To contend with rising costs, flat packed furniture was introduced in 1956, and to appeal to people like me who would never dream of assembling flatpack furniture, IKEA now partners with TaskRabbit in the UK to assemble furniture that you purchase from them.
Do you see a pattern in the story I just shared? It seems IKEA is a company that is quick to respond to the pain point of its customers without compromising its core values of simplicity, affordability and stylishness. The commitment to the strategizing and execution of this strategy around its customer needs is the reason, in my opinion, for IKEAs continuous growth and market appeal.
Even now, I remember walking into IKEA a few years back and feeling comforted that there was a creche downstairs for my younger daughter and a restaurant upstairs to refuel in . Conveniences like this made the choice for me as a mum of young children to shop in IKEA
So how does that relate to you and I as individuals?
- Firstly, what is your core purpose? Who were you designed to reach and what help can you offer them?
- Secondly, how do you consistently evolve to ensure you are positioned to serve your world better?
- Thirdly, are your daily decisions congruent to the needs of this target audience
Let me share a personal example – I believe one of my core offerings to my world is to “build women to build ventures”. Yes, my eyes light up when I meet a woman with potential and who desires to explore and exploit this potential. And when I say ventures, I define it to include a family setting, a career choice and obviously businesses. I love helping women to overcome the hurdle of self-doubt and equip them with the tools to prepare her for success. In answer to Question 2, most of my decisions in personal development therefore centre around becoming more equipped to serve these women for example, I went to Etiquette school to learn social and business etiquette and went back to school after 21 years to learn theoretical frameworks for business start-ups. I’m sure you get the idea. And lastly in response to Question 3, I daily research a way to serve my audience better, from being innovative with these vlogs, to MAP Workshops, MAPTribe or MAPMe sessions.
Today, I would like you to do the same by asking yourself those three questions above. You are here for a purpose and the world is waiting to enjoy awesomeness. So, get yourself on the program and, just like IKEA, become someone we remember and love!