Report Example on Social Entrepreneurship

Introduction

Although Panda Sunglasses is a for-profit company, its values are anchored on social missions. In this case, it has partnered with other firms to offer a free eye exam for every pair of glasses sold. One way firms with such social missions can attract customers and promote their businesses is through proper marketing. Marketing, in this case, will primarily involve the use of social media, which has, in the recent past, developed to be a reliable marketing tool (Basil, Mitchell, Madill & Chreim, 2015). Such firms also rely on referrals brought about by good customer service. It will also involve partnering with other firms to create awareness of the products offered and how the firm's social mission benefits the larger society.

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Selling Proposition

One of the mistakes that the founders are making is marketing eye exams using the sunglasses. Instead, it should be the other way round. The firm should be using the eye exam to market its eco-friendly sunglasses. Before people look for sunglasses, they will first need to have their eyes checked. Simultaneously, times are changing, and more people are developing eye problems that force them to do an eye exam. Therefore, it would make more sense if the firm were offering a pair of Panda Sunglasses in exchange for an eye exam.

Business Model

Panda Sunglasses are unique in several ways. Apart from the eco-friendly framing, the lenses, too, are polarized. Marketing this product should, therefore, not be a big deal, especially in this digital age. First, set up a functional website that will serve as the home of the company. Secondly, make fair use of social media platforms such as Facebook and Instagram to create a strong customer base for your products. Also, engage your followers and when the time is ripe, convert them into customers. The social media accounts should, however, be closely monitored for instant replies to customer queries.

There seems to be no other revenue stream from the analysis to support the firm apart from selling the eyewear. The best way for the firm to remain in touch with the customers is by engaging them via social media and establishing free eye care clinics.

Conclusion

According to the Expert journal of marketing (Vinerean, 2017), social media marketing has become one of the most effective ways to market products. More people are embracing the internet, and so should the various companies. In the case of Panda Sunglasses, the founders must cement the company's place over the internet. Social media marketing will entail Facebook, Twitter, YouTube, and Instagram, among others. There is a need to create more ads over the internet as part of their marketing program to increase traffic. Similarly, their social media pages should remain active with at least two posts a day to keep customers busy.

References

Basil, M., Mitchell, A., Madill, J., & Chreim, S. (2015). Marketing and social enterprises: implications for social marketing. Journal of Social Marketing.

Vinerean, S. (2017). Importance of strategic social media marketing. Expert journal of marketing, 5(1). Retrieved from http://marketing.expertjournals.com/23446773-504/.