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Why Mensa's Business Model is so successful?

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Mensa’s Company Overview


Mensa International, founded in 1946, is a renowned global organization that brings together individuals with exceptionally high IQ scores, representing the top 2% of the population in terms of intelligence. With a presence in over 50 countries, Mensa serves as a platform for its members to engage in intellectual and social activities, fostering a community of like-minded individuals who share a passion for knowledge and learning. Mensa is the largest and oldest high-IQ society in the world. It is a non-profit organization open to people who score at the 98th percentile or higher on a standardized, supervised IQ or other approved intelligence test. Mensa is formally composed of national groups and the umbrella organization Mensa International, with a registered office in Caythorpe, Lincolnshire, England. The word mensa means "table" in Latin, as is symbolized in the organization's logo, and was chosen to demonstrate the round-table nature of the organization; the coming together of equals. Mensa's business model revolves around membership fees, events, and collaborations. Individuals who qualify based on IQ scores are invited to join and pay annual dues. The organization organizes various events, including conferences, seminars, and social gatherings, providing members opportunities to connect and exchange ideas. Mensa collaborates with educational institutions and partners to promote intelligence research and support intellectual endeavors. The revenue generated from memberships and events contributes to sustaining Mensa's operations, fostering a vibrant community that celebrates and encourages intellectual excellence on a global scale.

https://www.mensa.org/

Country: England

Foundations date: 1946

Type: Nonprofit

Sector: Information & Media

Categories: Education


Mensa’s Customer Needs


Social impact:

Life changing: self-actualization

Emotional: rewards me, fun/entertainment, badge value

Functional: saves time, simplifies, reduces effort, quality, variety, sensory appeal, informs


Mensa’s Related Competitors



Mensa’s Business Operations


Community-funded:

The critical resource in this business strategy is a community's intellect. Three distinct consumer groups comprise this multifaceted business model: believers, suppliers, and purchasers. First, believers join the online community platform and contribute to the production of goods by vendors. Second, buyers purchase these goods, which may be visual, aural, or literary in nature. Finally, believers may be purchasers or providers, and vice versa.

Donation-based:

Crowdfunding for charity purposes is a collaborative effort by people to aid charitable projects. Civic crowdfunding is a kind of charity crowdfunding in which money is collected to improve public life and space.

Knowledge and time:

It performs qualitative and quantitative analysis to determine the effectiveness of management choices in the public and private sectors. Widely regarded as the world's most renowned management consulting firm. Descriptive knowledge, also called declarative knowledge or propositional knowledge, is a subset of information represented in declarative sentences or indicative propositions by definition. This differentiates specific knowledge from what is usually referred to as know-how or procedural knowledge, as well as knowledge of or acquaintance knowledge.

Licensing:

A formal agreement in which the owner of the copyright, know-how, patent, service mark, trademark, or other intellectual property grants a licensee the right to use, manufacture, and sell copies of the original. These agreements often restrict the licensee's scope or area of operation, define whether the license is exclusive or non-exclusive, and stipulate whether the licensee will pay royalties or another kind of compensation in return. While licensing agreements are often used to commercialize the technology, franchisees also utilize them to encourage the sale of products and services.

Membership club:

Belonging to a group, either individually or collectively. Certain memberships may charge a fee to join or participate, while others are free. Others have particular skill criteria that must be met before membership is granted. Members are entitled to specific benefits or advantages, but not all members may enjoy the same rights and privileges. Another method is taken by a members-only luxury lifestyle management business that offers concierge services such as vacation reservations, restaurant suggestions, and event access.

Selling of branded merchandise:

Merchandising, in the broadest definition, is any activity that helps sell goods to a retail customer. At the retail in-store level, merchandising refers to the range of goods offered for sale and the presentation of those products in a manner that piques consumers' attention and encourages them to make a purchase. Like the Mozilla Foundation and Wikimedia Foundation, specific open-source organizations offer branded goods such as t-shirts and coffee mugs. This may also be seen as an added service to the user community.

Non-profit organization:

Rarely does the non-profit sector participate in such direct and concise discussions regarding an organization's long-term financing plan. It is self-sustaining and offers services to users at no cost. That is because the many sources of financing for non-profit organizations have never been adequately defined. Often, a non-profit organization is devoted to advancing a particular social cause or advocating for a specific point of view. In economic terms, a non-profit organization utilizes its excess earnings to promote its purpose or goal, rather than paying profit or dividends to its shareholders (or equivalents).

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