A Detailed Marketing Plan for TOMS Shoes: Strategies & Budget

This report presents a marketing plan for TOMS Shoes, a company established in 2006 offering various products including shoes, handbags, eyewear, and apparel. The plan includes a SWOT analysis identifying the company's strengths such as high brand recognition and corporate social responsibility, weaknesses like criticism for impacting developing economies, opportunities including expanding retail presence and product diversification, and threats such as increasing competition and the impact of events like COVID-19. The STP analysis outlines the company's segmentation based on geographic location, targeting based on size, and functional positioning. The marketing mix focuses on product offerings, moderate pricing, retail store placement, and digital marketing promotion. The plan also touches on finance and budgeting, highlighting potential funding sources and the importance of budget preparation. The report concludes by emphasizing the importance of a marketing plan in reaching target customers and improving market share and profitability.

Marketing Plan

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Summery......................................................................................................................................1
SWOT analysis............................................................................................................................1
STP analysis: ...............................................................................................................................2
Marketing Mix ............................................................................................................................3
Promotion and advertising...........................................................................................................3
Finance and budget......................................................................................................................4
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing plan refers to a document which includes advertising strategy to be
implemented by firm in order to reach to their target market (Chayathatto and Woradech, 2020) .
This report discusses about TOMS Shoes which is established in the year 2006 by Blake
Mycoskie. This company is established in Los Angeles in California and offering handbags,
coffee, eye wear, apparel. This project report includes marketing plan of company and different
strategies to be adopted by company in order to increase their profit and market share.
MAIN BODY
Summery
TOMS Shoes is one of company which is offering different shoes variety to their customers.
They are also providing handbags, coffee, eye wear, apparel. They are offering excellent services
to their customers which helps them to attract and retain their customers with them.
SWOT analysis
 Strength Weakness
 TOMS Shoes is one of organisation
which has high recognition in
customers as their objectives is to
increase brand loyalty of customers and
also to helps their customers. They are
more focused with increasing market
share of firm.
 Focus of this organisation is on their
corporate social responsibility which
helps them to increase brand
recognition and also helps to promote
about firm with word of mouth.
 TOMS Shoes is criticised for
devastating of current economies in
developing countries (Chowdhury and
Chowdhury, 2021) .
 Organisation is also not getting much
recognition in some countries due to
lack of stores.
 Company is only producing hippie
shoes which limits its sales and profit
as they only sales it to those customers
who are like hippie shoes.
 Investment of business in innovation
related to its design is limited.
Opportunity Threat
1

 TOMS Shoes can manage more retail
stores as it helps to provide opportunity
to company in increasing their stores in
different countries (Galli, 2018) .
 Company can also provide different
variety of shoes on basis of season as
boots for winter season, cogs for
summers and many more. Business can
also produce different income size
customers from luxury to cost effective.
 There is increasing competition in
market which can reduce profitability
level of company. Some of competitors
of company includes Tack Room
Shoes, C&J Clark International Ltd.
 Covid-19 situation also create threat for
business as it create impact on sales of
products as well as services of
company. Due to this, company is
facing huge losses.
STP analysis:
Segmenting Segmenting refers to divide total heterogeneous market intro different
small segment on different basis including demographic segment,
geographic, psychographic and behavioural segmenting. TOMS Shoes
are segmenting their market on basis of geographic location.
Targeting Targeting refers to selection of particular segment and provide services
and products in order to satisfy particular customers segments
(Tkaczynski and Rundle-Thiele, 2019) . Targeting can be done on
different aspects including size, reachability, profitably. TOMS Shoes
are targeting their market on basis of size as it helps them to earn more
profit.
Positioning Positioning refers to creating a image of organisation in minds of their
customers. There are different types of positioning including symbolic
positioning, experimental positioning, functional positioning. TOMS
Shoes are adopting functional positioning for their products as it helps
them to solve problems of customers and allow them to provide
solutions to their problems.
2

Marketing Mix
Product Products refers to physical goods and services offered by company in
market in order to earn profit (Wood, S. and Ehmann, V., 2018). It is
important for firm to order to deliver minimum performance. TOMS
Shoes is providing different shoes to their customers in order to satisfy
their demand and to earn profit.
Price Price refers to monetary value which is received by firm for their
products. Prices is to be set on basis of different aspects including cost
of production, market segment, demand as well as supply in market.
TOMS Shoes is offering moderate prices for their products which helps
to increase numbers of customers for company.
Place Place refers point form where company is selling their products directly
to their customers. Place should be decided by company in manner
which could be easily accessible by customers. TOMS Shoes is selling
their products in retail stores.
Promotion Promotion refers to all activities to be conducted by company in order to
increase awareness of products and services. In order to promote goods
and service of company, firm needs to TOMS shoes are adopting
various digital marketing tools as it provide convenience to company
and it also saves cost of company.
Promotion and advertising
Promotion and advertising refers to strategy of firm used in order to increase awareness of
products and service. This helps to persuade customers in order to buy more and more products,
reminds about products and company and inform about something new introduced about
organisation. There are different tools of promotion and advertising including sales promotion,
personal selling, digital marketing, advertisement and many more. All these has their own
advantage and disadvantage. TOMS Shoes is one of organisation which is using digital
marketing for promotion and advertising as it helps to interact with their customers. It also helps
3

to take feedback of their products and services form customers and allow firm to solve problems
of customers instantly.
Finance and budget
Finance is one of important aspects for business as it helps to carry out day to day operation of
business. Finance is required for every activity from buying raw material to marketing of
products and services. There are different source form which TOMS Shoes can raise funds in
order to carry out marketing strategies which helps them to improve their market share as well as
profitability level. These source includes bank loan, angel investors, crowd funding and many
more. Firm also needs to prepare budget as it helps them to estimate cost as well as profit of
company.
CONCLUSION
From above mentioned project report it can be concluded that marting plan which includes a
document in which advertising strategy of firm is includes that help firm in order to reach to their
target customers. Firm also conduct SWOT analysis in order to identify factors which affect their
4

business. STP analysis is one of analysis of firm which helps to identify positioning, segmenting
as well as targeting strategy of firm.
5

REFERENCES
Books and Journals
Chayathatto, M.N.K. and Woradech, A., 2020. Using Cluster Analysis to Understand the Value
Proposition in Digital Business to Develop Digital Marketing for Agricultural
Community Enterprise in Thailand. Solid State Technology, 63(6), pp.5092-5106.
Chowdhury, R.A. and Chowdhury, R.A., 2021. Digital marketing. Building a Salesforce-
Powered Front Office: A Quick-Start Guide, pp.97-109.
Galli, B.J., 2018. Using marketing to implement a strategic plan: Reflection of practiced
literature. International Journal of Service Science, Management, Engineering, and
Technology (IJSSMET), 9(1), pp.41-54.
Tkaczynski, A. and Rundle-Thiele, S., 2019. Is destination marketing missing the mark? A Fraser
Coast segmentation analysis. Journal of Destination Marketing & Management, 12,
pp.12-14.
Wood, S. and Ehmann, V., 2018. Creations by Songbird: An Exploration of Marketing and
Selling Handcrafted Home Decor.
6