How social entrepreneurs such as the founders of Panada Sunglasses use their companies social missions to attract customers

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1. 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)

2. How should the founders of Panada Sunglasses define a unique selling proposition for their company that resonate with customers? (2 marks)

3. Write a brief memo to the founders of Panda Sunglasses outlining a bootstrap marketing plan for the company? (2 marks)

4. 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)

 

 

Sample Solution

Panada Sunglasses: Social Impact and Business Strategy

1. Leveraging Social Mission for Customer Attraction (2 marks):

  • Storytelling and Transparency: Share the story behind Panada’s mission to empower communities and environmental sustainability. Highlight the positive social impact of their purchases.
  • Cause Marketing: Partner with influencers or charities whose values align with Panada. Run campaigns where a portion of sales goes towards the cause.

2. Defining a Unique Selling Proposition (USP) (2 marks):

  • Combine Impact and Product: Panada doesn’t just sell sunglasses, they create positive change. Focus on the high-quality product while emphasizing the social and environmental benefits.
  • Targeted Messaging: Tailor messaging to specific customer segments. For environmentally conscious consumers, highlight sustainable materials. For those seeking social impact, showcase community empowerment.

3. Bootstrap Marketing Memo (2 marks):

To: Panada Sunglasses Founders

From: Marketing Advisor

Subject: Bootstrap Marketing Plan

Here’s a cost-effective marketing plan:

  • Social Media Engagement: Build a strong online presence on platforms like Instagram and Facebook. Share compelling content showcasing the product, mission, and impact.
  • Partnerships: Collaborate with relevant bloggers and influencers for product reviews and promotions.
  • Content Marketing: Create engaging blog posts or videos highlighting the story behind Panada and sustainable practices.
  • Public Relations Efforts: Pitch stories about Panada’s mission to relevant media outlets.

4. Business Model Canvas and Growth Strategies (2 marks):

Business Model Canvas:

  • Customer Segments: Eco-conscious consumers, fashion-forward individuals, socially responsible shoppers.
  • Value Propositions: Sustainable sunglasses, positive social impact, high-quality product.
  • Channels: Online store, social media, partnerships with eco-friendly retailers.
  • Customer Relationships: Engaging social media presence, customer loyalty programs.
  • Revenue Streams: Direct sales through the website and potential wholesale partnerships.

Additional Revenue Streams:

  • Limited Edition Collections: Partner with artists/designers for exclusive collections with a portion of proceeds supporting their work.
  • Subscription Service: Offer subscription boxes with curated sunglasses and impact stories.

Strengthening Customer Relationships:

  • Personalized Communication: Use customer data to personalize emails and offers.
  • Community Building: Host online events or contests promoting customer engagement.

5. Social Media and Website Optimization (2 marks):

  • Social Media Marketing:
    • Use captivating visuals showcasing the sunglasses in action.
    • Run targeted ad campaigns to reach specific demographics.
    • Host contests and giveaways to encourage brand interaction.
  • Website Optimization:
    • Ensure a user-friendly and mobile-responsive website for seamless online purchases.
    • Include high-quality product photos and detailed descriptions.
    • Offer clear information on the social impact and sustainability efforts.
    • Implement SEO best practices for higher search engine ranking and website traffic.

By implementing these strategies, Panada Sunglasses can build a strong brand identity, attract a loyal customer base, and achieve sustainable growth alongside their social mission.

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