Toms Marketing Plan Essay

2472 words - 10 pages

Toms Shoes- Case Study

Table of Contents

1. Executive Summary……………………………………………………....3

2. Situation Analysis .....................................................................................4

3. Analysis of case issues using marketing theory

3.1. The trends in the marketing environment …………………….. 5

3.2. Creating value for customers.......................................................6

3.3. Fitting in with the changing marketing environment...................7

4. Conclusion...........………………………………………………………....8

5. References………………………………………………………………...9

1. Executive Summary

In the era of ...view middle of the document...

2. Situation Analysis

The shoes are basic need product in everyone’s daily life. There are numbers of well known shoes brands and companies in global shoes market and as a new brand, Toms shoes has to face challenge to win over all other established competitors in the market. In order to attract new customers, Toms need to implement strategy that consumers can differentiate the new brand and the value in its shoes. Toms shoes has successfully implemented with its own customer driven marketing strategies in order for the company to penetrate the market, position itself and to take the market share with the lowest cost. Toms shoes applied Cause- Related Marketing (CRM) and it use “one for one” strategy that the company states “with every pair of shoes a customer purchase, Toms will give a pair of new shoes to a child in need.”

Cause-related marketing is effective because consumers can directly link it to corporate social responsibility (CSR) of the company. CSR can be defined as concept of business integrates social and environmental concerns in their corporate operations and in their interaction with their stakeholders on a volunteer basis (Demetriou et al, 2010). Studies have shown that cause-related marketing can benefit enhancement of corporate brand reputation, demonstration of corporate or brand values, raising of brand awareness, development of customer locality, differentiation of products and services, increase in sales volume, building relationships with stakeholders, providing differentiation, and making CSR and corporate investment visible (Adkins, 2005, as cited by Demetriou et al., 2010).

Because of globalization and interconnected world, “increasingly, a combination of heightened sense of empathy or awareness among consumers, coupled with the increasing significance of world-wide social causes or movements has resulted in consumers who are more interested in consequences of their purchase behaviours” (Brunswick,2010). Toms has successfully captured this trend and applied appropriate strategy in the right time. For consumers, brands play an essential and important role in identifying and differentiating products and services through their symbolic nature (Enally and Chernatony, 1999 as cited in Alcaniz et al, 2010). Consumer perception on Toms brand is becoming an ethical brand for doing-good cause and its shoes bring more value for consumers.

3.1 The trends in the marketing environment

Cause-related marketing become more popular in recent years due to increasing trends of consumer’s perception on corporate social responsibility and socially connected marketing environment. Toms understand the concept “exposure to any type of well conceived promotional initiative for a brand leads in theory to more positive feelings and judgements about the brand in consumer’s mind (Bloom et al., 2006). Toms’s strategy is also more effective especially in the environment internet and social networking sites are influencing...

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