Case study-2

Name: MD Siam

Roll: 4031

Batch: BBA 59(A)

Course title: Entrepreneurship Development

Course code: BUS 801

Date: 10 august 2021

Answer-1

A social entrepreneur is a person who pursues novel applications

that have the potential to solve community-based problems.
These individuals are willing to take on the risk and effort to
create positive changes in society through their initiatives.
He also creates a business to fill a gap in the market and serve a
neglected community. For this reason, tools for market research
for ethical/impact products are underdeveloped.
When defining your audience for social enterprises you have to
both define your customer and the community you impact a
traditional company only needs to understand their customer.
Both the revenue model and impact model are key to success.
The importance of social media in business is growing at warp
speed. With more and more people joining social media sites
and using them regularly/efficiently, the social media industry is
bound to become bigger in the coming years. It’s booming like
never before. Every business today needs to leverage
proper social media channels in the best possible way. Not
because it’s the “in thing”, and not because it sounds simple, but
because their target audience is hanging around the popular
social networks. And they’re engaging with their favorite brands
and connecting with them on different levels.
Panda sunglasses founders mention in there website that “We
were started with the vision that the sunglasses industry could be
something different.
There were enough cheap, generic plastic sunglasses out there
polluting our oceans. Maybe it was time for something
sustainable, something eco-friendly and beautiful from start to
finish.
The people agreed, and we met our 2012 Kickstarter goal in 3
days! 2500 days later the idea of sustainable eyewear seems to
have taken root and grown like, well, bamboo!”

Panda sunglasses are made by Vincent Ko, Luke Lagera and

Mike Plants. They utilized the woods to form the outlines of the
sunglasses, and as social business visionaries they gave free eye
examination to the destitute for each sunglass sold. Social
business person regularly recognizes the issues in society and
looks for a arrangement to them, so Vincent Ko and his
cofounders utilized 2 strategies to pull in buyers and develop
their companies. The primary was to spare environment by
utilizing ecologically neighborly bamboo for outlines, and the
moment was to back society by paying to the non-profit
organization TOMA for the eye examination of tribal
communities for each match of sold sunglass. Panda sunglasses
ought to utilize a trademark like “purchase a match and let them
see you” to empower people to purchase, since they can offer
assistance each other, which will provide you a great notoriety,
and make the community bolster you as they get it your social
mission to society and the world.
To attract customers and promote the business the co-founder of
panda sunglasses decided not only to create cool, environment
and eco-friendly sunglasses made of sustainable material. But
also provide an eye examination with every pair sold. To do this,
they find a joint partner, TOMA, a charitable organization, that
will test the eyes of the poor for every pair sold of panda
sunglasses, and two Chinese companies collaborate to create a
special style sunglass made of bamboo wood frames. All this
will draw consumers looking for fair quality, trendy style, and
businesses promoting social responsibility.

In addition to the above, they had been forced to market their

company to get their future customers. So what they should do is
hold an event to raise awareness of their features and goods, set
up an online shopping page and use social media to reach out to
the public. In this scenario, a joke email sent to ENK’s director,
an international trade show, about their willingness to set up a
broom closet at ENK if they were accepted, ended up having a
booth with a giant backdrop of bamboo that attracted a lot of
attention.
Answer 2-

Panda glasses has innovated the sunglasses design by providing

polarized lens topped off with bamboo frames that are stylish a.
sturdy. Their sunglasses frames are unique made form eco-
friendly and fast growing bamboos.

Unique selling proposition (USP) refers to the unique benefit

provided by company, product, or service that differentiates
from the competitors and this features are most appealing to the
customers. Being differentiated from competitor, Panda glasses
offered a unique benefit by exchanging its glasses for an eye
exam, in which most may need it. Thus, in exchange of eye
exam giving Panda glasses in USP of the Panda foundation.

Answer 3-

A bootstrap marketing plan is one where a company works with

little to no resources to effectively market their product. The
goal is to reach a desired consumer with a message that will
encourage them to buy the company's service or product
offering.
Panda Sunglasses is a company in which they sell sunglasses
with polarized lenses. The sunglasses are made from bamboo
frames and are unique, stylish sunglasses that can float. Our
sunglass frames are made from bamboo, a renewable resource
that is lightweight and sturdy. We need to emphasize that we are
being socially responsible in several ways. We are providing
free eye exams to the needy, using a renewable resource such as
bamboo and not using plastics. Plastics are a derivative of oil
that is not only harmful to the environment but cannot be
renewed. Bamboo grows extremely fast and some say it is a
wood that can save the planet. Through marketing research we
have determined that for this reason the target market for the
sunglasses should be young people along with the eco-conscious
and people who believe in social responsibility and because of
this we should target urban areas, coastal areas and college
campuses.

Answer 4-

In the business world, a company can successfully build its

brand name in many ways like advertising, online marketing,
social media, and a plethora of other building processes. With a
little hard work and a solid business plan, business owners can
get their budding companies off to the right start.

But perhaps the factor most important for the continued success
of a company is its relationships with customers. Through
positive word-of-mouth, those customers may be the champions
needed to bring in new clients and provide an overall boon to the
business.
Customer Segments: Young savvy customers, Adult customers
alike. Looking for a Stylish yet eco-friendly sun glasses.
Value Propositions: Customer buy because of eco-friendly ness,
a differentiate product made out of bamboo and to indirectly
contribute to society via social responsible act by panda
sunglass.
Channels: Product promoted via retail channels as an unique
initiate to save the eco system from plastic and fiber using eco-
friendly Bamboo. As well as prom0te the concept of social
contribution via sponsoring eye heck on every product sold. It
works because people, by just doing the act of buying, are able
to contribute to ecosystem as well as to poor sections of the
society.
Customer Relationships: The customers would be interacted via
the retail channel and via the promotional activities on social
responsibility platforms.
Revenue Streams: The revenue stream would be transaction
based revenue stream. The value proposition is get an eco-
friendly product and as well contribute to society indirectly.
Key Activities: One is the eco-friendly product and the other is
the social contribution in form of free eye test for every product
sold.
Key Resources: Should have strategic tie-ups with retail partners
and strategic marketing to promote their concepts and compete
with other sun glass brands
Key Partnerships: Not venture into regular sun glass and focus
on this eco-friendly product and focus on strategic partnership
with retail partners?
Cost Structure: Cost of finding manufacturing partner and
unique idea of social contribution. Promotion to have transaction
based revenue model.
The revenue stream based transaction based, where every time a
product purchased the revenues flows in and so the revenue is
based on transactions.
Promotion of this unique concept via Marketing and concept
promotion along with expo’s and retail channel partnerships
would help to establish a connect with the customers

Answer -5

Social media marketing is a powerful way for businesses of all

sizes to reach prospects and customers. Your customers are
already interacting with brands through social media, and if
you’re not speaking directly to your audience through social
platforms like Facebook, Twitter, Instagram, and Pinterest,
you’re missing out! Great marketing on social media can bring
remarkable success to your business, creating devoted brand
advocates and even driving leads and sales.
Facebook: They can make Facebook pages which can showcase
their product line and they can also sponsor the ads for their
selective products.
Twitter: Twitter has a provision of sharing the images and the
videos and maximum likes & shares to promote their product
lines.
LinkedIn: LinkedIn is a platform to do the targeted marketing
through the social media. You can target a particular segment of
people depending upon your product.
Instagram: It is a photo sharing platform where you can share
pictures of your products and accordingly can do the marketing
of your products.
Apart from these social media, company can do SEO, SEM,
Google Adwords, and Google Display Networks etc. to increase
the traffic to their website