Praxis: Redefining the Toothpaste Industry
(7 pages of text)
In 2019, the co-founders of Praxis—a toothpaste that aimed to improve the health and wellness of its users by incorporating vitamins, minerals, and supplements into the toothpaste—were contemplating whether to launch their business. The mission of Praxis was to facilitate a health-conscious lifestyle and empower individuals to improve their productivity and well-being. The duo wanted to assess the business environment, evaluate their product and marketing strategy, project the venture’s financial performance for the first three years of operations, and ultimately determine whether they should pursue the idea. They had specific goals in mind since they had won a case competition at their university, been approached by many investors, and been shortlisted to star on Dragons’ Den. Could they successfully launch Praxis, differentiate Praxis from other industry players, and continue managing their existing workload in their studies at Western University?
This case is most suitable for an undergraduate-level managerial accounting course. Since the case includes an analysis of various business concepts and requires a basic understanding of business strategy, accounting, and finance, students should be familiar with projecting cash flows, financial statements, and marketing analysis. This case can be used in class or as a take-home test, an individual test, or a group report. After working through the case and assignment questions, students will be able to
- perform an external analysis of the industry, competition, and consumer;
- perform an internal analysis of the company’s strengths, weaknesses, opportunities, and threats (SWOT);
- develop a marketing plan that includes the product offering, pricing, promotional tools, and distribution channel; and
- project three years of financial statements, including cash budgets, statements of earnings, and statements of financial position.
Health Care Services
Canada, Small, 2019
$5.30 CAD / $5.00 USD Printed Copy
$4.50 CAD / $4.25 USD Permissions
$4.50 CAD / $4.25 USD Digital Download