Bombas Mini Case Study

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Georgetown University *

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2001

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Marketing

Date

Feb 20, 2024

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Uploaded by CommodorePencil13365

1. How did Bombas's founders Randy Goldberg and David Heath create customer value when they started their apparel company by selling socks? Customer value was created when Bombas’ founders Randy Goldberg and David Heath identified and decided to address a social need. They realized that socks were the most requested item at shelters and in order to donate the amount of socks that was needed , they would have to sell a lot of socks. They used the “one-to-one” business model to fill the want/need idea. For every pair of socks sold, they would donate a specifically designed pair of socks to a homeless shelter. This appealed to two major components for consumers, they could purchase a high quality piece of clothing while doing something socially good and meaningful. 2. What are the key elements of Bombas's "for Ps" marketing strategy? The key elements of Bombas’ 4 Ps of Marketing are: Product : Bombas focused on creating and manufacturing high quality socks with fun and innovative designs. They have also partnered with brands that align with their socially conscious image. Price: When considering pricing, Bombas remained competitive. Their “one-to-one” model appealed to customers because they could give back while purchasing a high quality item. Place: Bombas initially adopted a ‘Direct to Customer’ model where they sold items via their website and mainly online. Promotion: Highlighting the social mission of donating socks to homeless shelters was a strategic element in their marketing campaign, they utilized social media and online marketing to spread their brand awareness. 3. How has the combination of Bombas's social mission, its "Bee Better" motto, the direct- to-consumer sales model, its Customer Happiness Team, and its promotional activities contributed to Bombas's success? Bombas’s success can be attributed to four major components: a. Their social mission using their ‘one-to-one’ model and their social impact has created a positive brand narrative. b. The ‘Bee Better’ motto is a reminder and it puts emphasis on the company’s commitment to improving the world through their products. c. Using a DIrect-to-Customer approach for their sales it allows Bombas to maintain control over the customer experience and maintain control over their brand. d. The Customer Happiness team ensures that they can control their customers' experience with their brand.

4. What challenges does Bombas marketing face and what plans do they have to overcome these obstacles? (Feel free to use – and cite – outside materials.) For Bombas, successfully intertwining their mission and product within their messaging is a task that their marketers will find challenging. In an interview with Forbes magazine, Bombas’ CMO Kate Huyett was asked about their marketing evolution as Bombas grows and she responded “ One of the biggest ways that we've evolved is that we've expanded from just a few marketing channels - initially mostly Facebook and podcasts - to a broad range of channels. We've worked to reach customers across a wide variety of touch points and that's also meant that no single channel constitutes the majority of our spend, which sets us apart from some of our DTC peers ” 1 1 1 Talbot, Paul. “Inside Bombas Marketing Strategy.” Forbes, Forbes Magazine, 24 Oct. 2019, www.forbes.com/sites/paultalbot/2019/10/24/inside-bombas-marketing-strategy/?sh=69afa6528b0b.

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