Principles of Marketing, Video Case Chapter 3
Video Case Chapter 3
Tom’s Shoes
Video Summary
Attention to social causes and social responsibility are two big trends in the marketing environment today. It is for this reason that Tom’s Shoes, a new startup company, is off to a big start. Their entire business is organized around one concept, one-for-one giving. For every pair of shoes that are purchased, the company gives a pair of shoes to a child in need somewhere in the world.
Questions and Answers 1. What trends in the marking environment have contributed to the success of Toms Shoes? The following are just some of the more obvious answers. Students can be challenged to develop as many as possible.
Demographic forces – Toms primary target market is “young people,” specified as college and high school age. The thing that is brought up specifically about this market is that every one of these people at some point is going to buy a pair of $40 canvas shoes. This was simply recognizing an existing pattern. Economic forces – There are poor people and children throughout the world who do not have shoes. This is a basic need that needs filling. There are people throughout the world who can afford to buy those people shoes. Simple as that. Natural forces – Blake talks about the way that shoe drop sites are selected. One of the factors is the types of diseases that are present in different areas of the world. Technological forces – “This company would not exist pre-Internet.” Blake gives details on Toms’ involvement in social networking. He also points out that much of the promotion for Toms is word-of-mouth (or “word-of-mouse) based. This has all been generated through technology. Cultural forces – The biggest thing that should be recognized here is the trend toward the recognition and support of sustainable business practices in various forms. Blake talks about how there is a desire on the part of young people to give to others, and how that need has
Tom’s Shoes
Video Summary
Attention to social causes and social responsibility are two big trends in the marketing environment today. It is for this reason that Tom’s Shoes, a new startup company, is off to a big start. Their entire business is organized around one concept, one-for-one giving. For every pair of shoes that are purchased, the company gives a pair of shoes to a child in need somewhere in the world.
Questions and Answers 1. What trends in the marking environment have contributed to the success of Toms Shoes? The following are just some of the more obvious answers. Students can be challenged to develop as many as possible.
Demographic forces – Toms primary target market is “young people,” specified as college and high school age. The thing that is brought up specifically about this market is that every one of these people at some point is going to buy a pair of $40 canvas shoes. This was simply recognizing an existing pattern. Economic forces – There are poor people and children throughout the world who do not have shoes. This is a basic need that needs filling. There are people throughout the world who can afford to buy those people shoes. Simple as that. Natural forces – Blake talks about the way that shoe drop sites are selected. One of the factors is the types of diseases that are present in different areas of the world. Technological forces – “This company would not exist pre-Internet.” Blake gives details on Toms’ involvement in social networking. He also points out that much of the promotion for Toms is word-of-mouth (or “word-of-mouse) based. This has all been generated through technology. Cultural forces – The biggest thing that should be recognized here is the trend toward the recognition and support of sustainable business practices in various forms. Blake talks about how there is a desire on the part of young people to give to others, and how that need has