Marketing Environment Fundamentals Case Study (Case Study Sample)
I post the source: 27 pages from the textbook and 1 writing requirement document(have to follow the requirement.)
1. Read Textbook Chapter 3: Marketing Environment, Social Responsibility, and Ethics. (Pay special attention to the section on Sustainability from page 68 to 69 of the textbook.)
2. Read Video Case “TOMS Shoes Expands one for One Model to Eyewear” from page 74 of the textbook.
3. In the case analysis, discuss the following:
1) Summary of the case (1 paragraph)
2) What is social responsibility? Why is it important? Discuss four dimensions of social responsibility and what impact they have on marketing decisions. Relate your answer to the Pyramid of Corporate Social Responsibility (Figure 3.3) on page 73 (1 paragraph)
3) Do you think TOMS is successful because of its unique products, or is it the firm's approach to social responsibility? How does TOMS' business model relate to the understanding of stakeholders and strategic philanthropy? (1 paragraph)s
4) Evaluate actions that have been (are) taken by TOMS to enhance the ethical and social responsibility conduct. Make recommendation for TOMS to improve its social responsibility. (1 paragraph)
5) Search other organizations and corporations that have successfully incorporated cause-related marketing into their strategic philanthropy. Discuss their performance and provide relevant data and statistics. Answering this question requires the external search by using the Internet. (1 paragraph)
Marketing Fundamentals Case Study
Marketing Fundamentals Case Study
Conservation and cleanliness are some of the ways that businesses sustain the macro marketing environment. The paper analyzes the case study of “TOMS Shoes Expands one for one Model to Eyewear “in relation to maintaining social responsibility and making marketing decisions. It will also evaluate other corporate companies and study how they have incorporated cause-related marketing. It is crucial to achieve a balance between sustaining good human health and a clean environment with business activities.
Summary of Case Study
TOMS is an organization that engages in both for-profit and non-profit business activities. It believes in incorporating philanthropy in business as a way of giving back to the less fortunate, especially those from developing countries. Recently, the company came up with the one for one business strategy through the sale of shoes. The company gave away a free pair of shoes for every footwear they sold. They increased the price of their products in order to cater for the manufacture of the extra pairs (Pride & Ferrell, 2017, p. 74). Its founder, Blake Mycoskie decided to expand the one for one strategy and venture into eyewear. As such, for every eyewear that the company sold, it would give free prescription glasses and optical care to those who needed it in the developing companies. With the help of other non-profit organizations and the annual One Day Without Shoes event, the company has been able to influence more people and companies into incorporating philanthropy in business to promote human health.
How the company has incorporated the 4 dimensions of social responsibility and its importance
Most of the problems faced in developing countries are preventable, hence the reason why TOMS strives to engage in social responsibility by ensuring a balance between the economy and the eco-system in the micro and macro environment of the business (Pride & Ferrell, 2017, 74). It acts as a good citizen to other people by caring about their needs through their philanthropic acts. As such, it takes on an ethical responsibility by doing what is right. If a person has more, they should give to those with less. The shoes manufactured by TOMS were recyclable since they were made from canvas, fabric, and rubber. As such, they are environmentally friendly. TOMS also has a legal responsibility to follow the laws and the regulations to avoid violating the law in the host country. Thus, the company has to adhere to human and environmental rights by all standards. Solving the current problems impacts the future of the affected individuals. Case in point, the shoes can be worn by many siblings of the same family over a number of years as they are passed down to those who are younger. Also, by solving some of the problems such as poor eyesight and footwear, a poverty-stricken family can focus their finances on providing other basic needs.
Is TOMS successful because of its products or approach to SR, how it relates to stakeholders and strategic philanthropy
TOMS has been successful in its ventures due to the high-priced products that it sells. People and companies continue to buy them despite the high value. TOMS uses the profits to expand into other areas of business such as eyewear and also pays its workers. When other companies or organizations see the impact that TOMS is having on the less fortunate, they are likely to adopt similar activities to enhance their reputation as well (Pride & Ferrell, 2017, p. 74). Case
- COMM1047 Business Communication: Writing an Email to Martha JonesDescription: You are in the second year of the culinary arts program at George Brown College and you will be graduating shortly....1 page/≈275 words | 1 Source | APA | Business & Marketing | Case Study |
- Cyber Software, Inc. Planning and OrganizingDescription: Planning and organizing of an organization is very important for both the achievement of short term and long term goals of the organization....8 pages/≈2200 words | 4 Sources | APA | Business & Marketing | Case Study |
- The Problem of L’Oreal Plenitude as of April 1996 Description: As a case analysis, you should present yourself as the marketer role in the case, for which the guideline has more details. Please write in a concise, simple and accurate way....5 pages/≈1375 words | No Sources | APA | Business & Marketing | Case Study |