NAME –ADNAAN DESAI

ROLL NO – 163
MBA 1
TOPIC- ENTREPRENEURIAL MARKETING
 ENTREPRENEURIAL MARKETING

INTRODUCTION

Entrepreneurial marketing plays a pivotal role in the success of startups and

small businesses. In today's competitive landscape, entrepreneurs need to adopt innovative
marketing strategies to differentiate themselves and capture the attention of their target
audience. This caselette examines the concept of entrepreneurial marketing, its features and
characteristics, types, advantages, and showcases a startup that has successfully utilized this
approach to achieve growth and recognition.

2.Definition, features, and characteristics of the topic:

DEFINITION
Entrepreneurial marketing refers to the marketing strategies and activities
employed by entrepreneurs or startup businesses to promote their products or services in a
competitive marketplace. It is characterized by a dynamic and resourceful approach, often
driven by limited budgets and a need for rapid growth.

FEATURES
 Customer-Centric Approach: Entrepreneurial marketing puts a strong
emphasis on understanding the needs, preferences, and behaviors of the
target market. Entrepreneurs actively engage with customers, gather
feedback, and use it to tailor their marketing strategies and offerings.

 Innovation and Creativity: Entrepreneurs often need to think outside the box
and come up with innovative marketing strategies to differentiate themselves
 from established competitors. They leverage creative tactics, unconventional
campaigns, and unique value propositions to attract attention and stand out
in the market.

CHARACTERISTIC
 Proactive and Opportunity-Driven: Entrepreneurial marketing is characterized
by a proactive mindset where entrepreneurs actively seek and capitalize on
opportunities in the market. They are constantly scanning the environment,
identifying gaps, and developing innovative solutions to meet customer
needs.

 Resourcefulness and Creativity: Entrepreneurs often operate with limited

resources, requiring them to be resourceful and find creative ways to market
their products or services effectively. They leverage their creativity to develop
unique marketing strategies that can attract attention and differentiate their
offerings.

3.Types, advantages, Tools, and instruments:

TYPES
 Content Marketing: Content marketing involves creating and distributing
valuable, relevant, and engaging content to attract and retain a target
audience. Entrepreneurs develop informative blog posts, articles, videos,
podcasts, or social media content that address customer pain points, educate
the audience, and build brand credibility.

 Social Media Marketing: Social media platforms provide entrepreneurs with

cost-effective channels to engage with their target audience, build brand
awareness, and drive traffic to their websites. Entrepreneurs leverage
platforms like Facebook, Instagram, Twitter, LinkedIn, or TikTok to share
content, run targeted advertising campaigns, interact with customers, and
foster a sense of community around their brand.

ADVANTAGES
 Cost-Effectiveness: Entrepreneurial marketing is often more cost-effective compared
to traditional marketing approaches. Startups and entrepreneurs typically operate on
limited budgets, and entrepreneurial marketing allows them to achieve significant
results with minimal financial resources. By utilizing cost-effective channels such as
 social media, content marketing, or influencer partnerships, entrepreneurs can
maximize their reach and impact while minimizing expenses.

 Agility and Adaptability: Entrepreneurial marketing emphasizes agility and

adaptability. Startups operate in dynamic and rapidly changing markets, and
entrepreneurial marketing allows entrepreneurs to quickly respond to market shifts,
emerging trends, and customer feedback. They can experiment with different
strategies, test new ideas, and make timely adjustments to their marketing efforts,
ensuring they stay relevant and competitive.

TOOLS AND INSTRUNMENTS

 Social Media Management Tools: Tools like Hootsuite, Buffer, or Sprout Social
help entrepreneurs manage and schedule social media posts across multiple
platforms. These tools enable efficient content creation, scheduling, and
monitoring of social media accounts, allowing entrepreneurs to maintain a
consistent presence and engage with their target audience.

 Email Marketing Platforms: Email marketing tools such as Mailchimp,

ConvertKit, or Constant Contact facilitate the creation and distribution of
email campaigns. These platforms offer features like email templates,
automation workflows, subscriber management, and analytics to help
entrepreneurs effectively communicate with their audience and nurture
customer relationships.

4. Name of startup/company that has used the concept and topic allocated:
4.1 INTRODUCTION
One notable startup that successfully utilized entrepreneurial marketing is Dollar Shave Club.
This subscription-based grooming company disrupted the traditional razor market with a
humorous and viral marketing campaign. Their promotional video, "Our Blades Are F***ing
Great," showcased their affordable razors and subscription model in a witty and entertaining
way. The video went viral, generating millions of views and attracting widespread attention.
This creative and unconventional approach helped Dollar Shave Club rapidly acquire
customers and establish itself as a major player in the industry.
4.2 Name of Founder /Founder Team, contact details, email id, and location

NAME Dollar shave club

INDUSTRY Consumer packaged goods

HEADQUARTERS Consumer packaged goods

WEBSITE
www.dollarshaveclub.com

CONTACT NUMBER 1-800-372-7797

CONTACT EMAIL members@dollarshaveclub.com

FOUNDER Michael Dubin

Mark Levine

NO. OF EMPLOYES 260

FOUNDED 2011

REVENUE US$50m per year

4.3 PRODUCTS/SERVICES OFFFERED

 Razor Blades: Dollar Shave Club offers a variety of high-quality razor blades for
shaving. Their razors are designed to provide a close and comfortable shave, and
they offer multiple blade options to cater to different preferences. The blades are
available in both cartridge and disposable formats.

 Shave Cream and Shave Butter: Dollar Shave Club offers shaving creams and shave
butters formulated to provide a smooth and moisturizing shaving experience. These
products are designed to reduce friction, prevent razor burn, and leave the skin
feeling soft and refreshed.

4.3 What innovation did they do

 Subscription-Based Model: Dollar Shave Club revolutionized the way men
purchase razors by introducing a subscription-based model. Instead of
purchasing razors individually from retail stores, customers could sign up for a
monthly subscription and receive regular shipments of razor blades delivered
directly to their doorstep. This model provided convenience and eliminated
the hassle of remembering to purchase new blades, ensuring that customers
always had a fresh supply.

 Direct-to-Consumer Approach: Dollar Shave Club bypassed traditional retail

channels and adopted a direct-to-consumer approach. By selling their
products directly to customers online, they eliminated the need for
intermediaries, such as physical stores or distributors. This allowed Dollar
Shave Club to maintain control over the customer experience, establish a
closer relationship with their audience, and offer their products at more
affordable prices compared to traditional razor brands.

4.4 what problem did they experience to get an idea as a business opportunity?/
Market Analysis
 High Cost of Razors: Traditional razor brands were charging high prices for
their razors, particularly for replacement blades. This pricing model made
it expensive for men to consistently purchase quality razors, leading to
frustration and dissatisfaction among consumers.
  Inconvenience of Purchasing: Buying razors from retail stores often
involved navigating through confusing product displays and dealing with
pushy sales tactics. This inconvenience made the process of purchasing
razors more time-consuming and frustrating for customers.

4.6: Journey of a startup, how they raised capital

o Ideation and Conceptualization: Dollar Shave Club was founded in

2011 by Michael Dubin and Mark Levine. The idea stemmed from
their observation of the high cost and inconvenience associated
with purchasing razors from traditional retail channels.

 Business Planning and Funding: The founders developed a business plan

that outlined their vision for a subscription-based model offering
affordable and high-quality razors directly to consumers. They secured
initial funding from angel investors and personal savings to kickstart the
business.
HOW THEY RAISED CAPITAL
Dollar Shave Club successfully raised capital through various channels to support its
growth and operations. In the early stages, the company secured funding from angel
investors who recognized the potential of its disruptive business model. This initial
investment allowed Dollar Shave Club to establish its presence in the market and refine its
offerings. As the company gained traction and demonstrated strong growth potential, it
attracted the attention of venture capital firms. These firms provided additional funding in
exchange for equity, enabling Dollar Shave Club to scale its operations, invest in product
development, and expand its customer base. Debt financing also played a role in supporting
the company's growth, providing access to additional capital while maintaining ownership
and control. However, the most significant milestone in Dollar Shave Club's funding journey
came in 2016 when it was acquired by Unilever, a multinational consumer goods company.
This acquisition provided substantial financial resources and the backing of a global
conglomerate, solidifying Dollar Shave Club's position in the market and opening doors for
further expansion. Overall, the successful fundraising efforts of Dollar Shave Club played a
pivotal role in fueling its rapid growth, market disruption, and eventual success.

DOLLAR SHAVE CLUB VALUATION THROUGH THE YEARS

o Early Stages: When Dollar Shave Club launched in 2012, it raised $9.8
million in a funding round led by Venrock. At this stage, the company
was valued in the tens of millions of dollars range.
  Series A Funding: In 2013, Dollar Shave Club raised $12 million in a Series A
funding round, also led by Venrock. This investment round likely increased the
company's valuation to the hundreds of millions of dollars.

 Acquisition by Unilever: In 2016, Dollar Shave Club achieved a significant

milestone when it was acquired by Unilever for a reported $1 billion. This
acquisition confirmed Dollar Shave Club's status as a unicorn—a privately-
held startup with a valuation exceeding $1 billion.

5. CONCLUSION AND PLAGIARISM REPORT

CONCLUSION
In conclusion, Dollar Shave Club serves as a remarkable example of a
startup that disrupted an established industry through entrepreneurial marketing and
innovative business practices. The company identified the pain points of expensive and
inconvenient razor purchases, and successfully positioned itself as a more affordable and
convenient alternative for consumers. Dollar Shave Club's subscription-based model,
combined with its direct-to-consumer approach, resonated with its target market,
particularly tech-savvy and cost-conscious millennial men.

PLAGIARISM REPORT
1. Duplichecker-Plagiarism-Report-0.65106100
1687200045.docx
2. Duplichecker-Plagiarism-Report-
0.27757500%201687201002.docx
REFERENCE
1. https://us.dollarshaveclub.com/
2. https://www.crunchbase.com/organization/dollar-shave-club
3. www.google.com
4. https://en.wikipedia.org/wiki/Dollar_Shave_Club
5. https://www.zoominfo.com/c/dollar-shave-club-inc/346785671
6. https://latana.com/post/dollar-shave-club-marketing/
7. https://www.slideshare.net/SUMKTG/dollar-shave-club
8. https://www.linkedin.com/company/dollar-shave-club/
9. https://twitter.com/dollarshaveclub/with_replies
10. https://github.com/dollarshaveclub