The triumph of Toms Shoes relies on Cause-Related Marketing, which is based on the idea that businesses can benefit by supporting a cause. Blake Mycoskie, who is both an entrepreneur and the 'Chief Shoe Giver' of Toms, discovered a necessity while visiting Argentina: children were in need of shoes.
In order to prevent disease, it was essential to provide shoes. Mr. Mycoskie's strategy involved targeting young people between High School and College age and offering one pair of shoes to a child for every pair sold to a customer. By using his cause as the main marketing tool, Mr. Mycoskie named his company Toms Shoes, which implies a contribution towards a better tomorrow with each purchase.
Blake's tactic was to donate a pair of shoes to a child for every pair sold to a customer, with a focus on high school
...and college-aged individuals. He promoted the initiative through word of mouth and social media by featuring images of the children who received the benefit. This demographic is key in determining our target market and should remain top-of-mind when developing marketing strategies.
To ensure success in the market, one must take into account the target demographic and devise a strategy accordingly. Blake's approach was tailored to a specific demographic with the aim of aligning his profit goals with helping underprivileged children. The primary objective of his for-profit company was originally to provide shoes for disadvantaged kids.
By purchasing a pair of shoes, customers are able to engage in philanthropy through the act of shopping. This allows them to feel a sense of value and contribution to a greater cause.
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