Highlights
The three learning aims for this topic are centred on the following:
• The CASE for this topic is: Proactiv
• The critical information for this topic focuses on 4 ELEMENTS (Elements 44-47)
• Finally, YOU BE THE VC focuses on the venture: Barnana
After reading the CASE, studying the ELEMENTS, and applying what you have learnt to the YOU BE THE VC activity, you will be able to:
1. Explain the three steps (segmenting the market, selecting a target market, and establishing a unique market position) entrepreneurial firms use to identify their customers.
2. Define a brand and explain why it is important to an entrepreneurial firm’s marketing efforts.
3. Identify and explain the 4Ps of marketing activities (product, price, promotion, and place) used by entrepreneurial firms.
4. Describe the seven-step sales process an entrepreneurial firm uses to identify prospects and close sales.
The employability skills you will develop as a result of completing this topic include:
• Communication skills
• Creative and Critical thinking skills
CASE: Proactiv
-How has Proactiv gone about establishing its brand? To what degree do you believe Proactiv isimportant in its customers' lives?
-Discuss the things that Rodan and Fields learned, prior to meeting Guthy-Renker that persuaded them that infomercials were the best way to sell Proactiv. If Proactiv hadn't developed infomercials in partner ship with Guthy-Renker, do you think Proactiv would be in existence today?
-Why were infomercials a bet ter choice than print or media advertising for Proactiv when the company was first being introduced?
-Describe Proactiv's positioning strategy. To which extent did the three critical marketing decisions de cussed in the case shape the evolution of Proactiv. positioning strategy?
-What is the difference between Proactiv's Core product and its actual product? Describe its actual product and your assessment of whether the actual product provides an attractive mix of characteristics.
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