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Shark Tank

The document summarizes four pitches made on Shark Tank. The first pitch was for a customizable home decor subscription service, asking for $250,000 for 18% equity. The second pitch was for a toy called Zip String selling in Walmart, asking for $100,000 for 10% equity. The third pitch was for an AI chess board that teaches the game, asking for $300,000 for 5% equity. This company had already made $3.9 million in revenue. The document analyzes each product and marketing strategies like price, promotion, competitors, and past performance. It provides suggestions from the sharks on how to improve marketing mix elements like lowering costs.

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171 views2 pages

Shark Tank

The document summarizes four pitches made on Shark Tank. The first pitch was for a customizable home decor subscription service, asking for $250,000 for 18% equity. The second pitch was for a toy called Zip String selling in Walmart, asking for $100,000 for 10% equity. The third pitch was for an AI chess board that teaches the game, asking for $300,000 for 5% equity. This company had already made $3.9 million in revenue. The document analyzes each product and marketing strategies like price, promotion, competitors, and past performance. It provides suggestions from the sharks on how to improve marketing mix elements like lowering costs.

Uploaded by

theo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Shark Tank Marketing Mix Strategies

Directions: Watch an episode of Shark Tank. Be observant of the entrepreneur’s “sales


pitch” and the shark’s questions. Apply the questions below to each entrepreneur’s
pitch.

1st Pitch:
1. What is the primary element (product)? A customizable service delivering home
decor for seasons and holidays
2. Price? Asking for a $250,000 stake. The average box they sell is around 125
dollars.
3. Who is this product for? Those who have trouble shopping for festive decor
4. Promotion? The girls have experience in merchandising, advertising on social
media
5. What are some strategies that the entrepreneur has tried in the past?  To collect
data to follow the trends and ideas to make sure the inventory can keep up. They
also do a subscription-esk service.
6. Were they successful and why? Yes, because he believes they are great
operators. They made a deal of $250,000 for 18%
7. What do the sharks suggest they change about their marketing mix or strategies?
Better inventory management. One of the sharks says with all the different holidays and
seasons, keeping the stock is very challenging so she didn't go in.
2nd Pitch:
1. What is the primary element (product)? Zip string, a toy
2. Price? $100,000 investment for 10%
3. Place: Where are they selling it? Walmart
4. Promotion? Kickstarter, Dude Perfect, social media videos
5. What are some strategies that the entrepreneur has tried in the past? They ran a
successful kickstarter campaign, got to the front page of social media, and
partnered with groups such as Dude Perfect 
6. Is there a need for this product? Would you buy it? Why or why not? No, I believe
not. I would not buy it because it is just a toy that costs around $25, which I
believe is too expensive.
7. What do the sharks suggest they change about their marketing mix or strategies?
Make it cheaper, lower the manufacturing cost
3rd Pitch:
1. What is the primary element (product)? Chess with an AI that teaches you how to
play.
2. Price? $300,000 investment for 5%
3. Place: Where are they selling it? To people who are interested in learning Chess
with a tactile/physical feeling
4. Promotion? Kickstarter
5. What are some strategies that the entrepreneur has tried in the past? They did a
successful kickstarter that raised $1.7 million.
6. Were they successful and why? Yes, because they have been making profit
with a smart royalty deal as well
7. How much money has the person made since they have been in business?
$3.9 million
4th Pitch:
1. There is no 4th pitch enjoy the last one.

**IF they were stated, what are the:


 goals,
 strategies,
 and tactics
of the pitched product/service?

The goal is a $250,000 investment for 20%. They tried being charismatic and
humorous. They gave the benefits of how easy it is to store and wash.

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