ch 8 case activity
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School
Seminole State College *
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Course
2023
Subject
Communications
Date
Apr 3, 2024
Type
docx
Pages
1
Uploaded by MasterShark3885
1.
When it comes to launching a growing startup with very little money, what can you learn from Mary Lynn Schroeder's story?
a.
Mary Lynn Schroeder's journey in launching and growing a startup with minimal funds offers invaluable lessons for aspiring entrepreneurs. Her story underscores
the necessity of resourcefulness, emphasizing the importance of leveraging existing assets and seeking out cost-effective solutions for essential needs like office space and equipment. Schroeder's focus on delivering value to her target market highlights the importance of identifying a clear value proposition and addressing genuine customer pain points.
2.
How has the 'grass-roots' approach helped AND hindered In Blue Handmade's financial success?
a.
The 'grass-roots' approach has played a significant role in both helping and hindering In Blue Handmade's financial success. On one hand, this approach has
been instrumental in fostering a strong sense of community and brand loyalty among customers. By engaging directly with customers at craft fairs, and markets, and through social media, In Blue Handmade has been able to build a dedicated following who appreciate the handmade, artisanal quality of their products.
b.
However, the grassroots approach also presents challenges for scaling and achieving sustained financial success. Relying heavily on in-person events and word-of-mouth marketing can limit the company's reach and growth potential, particularly in markets outside of its local or regional area. 3.
Given Blue Handmade's humble beginnings and company culture, what are the next steps it should take to continue to grow and remain profitable?
a.
Blue Handmade, with its humble beginnings and strong company culture, stands poised for further growth and sustained profitability. To continue its upward trajectory, the company could consider expanding into online sales, leveraging its
grassroots following while tapping into a broader market. Diversifying its product offerings to appeal to a wider audience and exploring wholesale and retail partnerships could also drive revenue growth.
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