- How can social entrepreneurs such as the founders of Panada Sunglasses use their companies’ social missions to attract customers and promote their business? (2 marks)
- How should the founders of Panada Sunglasses define a unique selling proposition for their company that resonate with customers? (2 marks)
- Write a brief memo to the founders of Panda Sunglasses outlining a bootstrap marketing plan for the company? (2 marks)
- Use the business model canvas to illustrate Panda Sunglasses business model. Can you identify other revenue streams that could support the company? How can the company strengthen its relationships with customers? (2marks)
5.How should the founders of Panda Sunglasses use social media to market their company and its products? What can they do to increase the traffic to and generate more sales from their company's Web site? (2 marks)
Full Answer Section
- Sustainable Materials:
- Emphasize the use of eco-friendly materials like bamboo in their frames.
- Social Impact:
- Combine the sustainable aspect with the positive social mission to create a unique value proposition: "Look good, Do good for the planet and others."
3. Bootstrap Marketing Plan (2 marks):
- Leverage Social Media:
- Create engaging content showcasing the sunglasses, their sustainable features, and the social impact.
- Utilize platforms like Instagram, Facebook, and TikTok to reach a broad audience.
- Collaborate with Eco-Conscious Brands:
- Partner with other eco-friendly companies for cross-promotion and reach new customers.
- Public Relations:
- Issue press releases highlighting their sustainable practices and social mission to gain media attention.
4. Panda Sunglasses Business Model Canvas (2 marks):
Customer Segments: Eco-conscious consumers, socially responsible individuals, fashion-forward people.
Value Propositions: Sustainable sunglasses, positive social impact, stylish designs.
Channels: Social media, online store, collaborations with eco-friendly brands, pop-up shops.
Customer Relationships: Engaging social media presence, customer loyalty programs, personalized communication.
Revenue Streams: Sales of sunglasses, potential future offerings like eco-friendly cleaning cloths or cases.
Other Revenue Streams: Partner with other companies for branded sunglass collections, offer limited edition styles for a premium price.
Strengthening Customer Relationships: Provide excellent customer service, offer repair services, personalized recommendations, and exclusive content to loyal customers.
5. Social Media Marketing & Website Traffic (2 marks):
- Social Media Strategy:
- Post high-quality visuals, user-generated content, and stories showcasing the sunglasses and the social impact.
- Run targeted ad campaigns on social media platforms.
- Host contests and giveaways to generate excitement and brand awareness.
- Website Traffic & Sales:
- Optimize the website for search engines (SEO) using relevant keywords.
- Offer discount codes and promotions to incentivize online purchases.
- Collaborate with eco-conscious bloggers and reviewers to feature Panda Sunglasses on their websites.
- Ensure a smooth and user-friendly website experience.
By implementing these suggestions, Panda Sunglasses can effectively leverage their social mission, create a strong brand identity, and build a loyal customer base.