Tom’s

Posted on: 17th May 2023

Question

Please open the document and choose one of the companies to learn about: Cotopaxi or Toms. Both are social enterprises. Listen to the “How I Built This” podcast episode linked in the document and respond to the respective questions.

Directions:

First, answer the warm up questions below in the box to the right. Then, scroll down, pick an episode to listen to (Cotopaxi or Toms), and respond to the respective questions! Warm Up Questions: It’s common for companies now to donate to a cause, whether money or products. For example, Bombas gives a pair of socks to someone in need when you buy a pair. Do you think these donations are genuine? Why do companies do this? Are they trying to be trendy? Does it encourage you to pick a brand over another if it supports a social cause? Before you listen: Visit the Cotopaxi site. What do you observe about their products? What does the brand seem to be about?

While listening: Here’s the link to the episode! HIBT: Davis Smith Respond to the questions using the space to the right as you listen! What was unusual about the pitch made by Cotopaxi? What are Cotopaxi’s unique selling point/differentiators from a brand perspective? From a business perspective? (Hint: Check around 43:00). What’s unique about the relationship with factory workers where Cotopaxi is made? How was the company launched? What was special about the marketing event? Briefly outline Davis Smith’s journey from his first job to creating Cotopaxi. Include at least 4 events. 

After you listen: Now that you’ve heard the Cotopaxi whole journey, reflect on the questions below and write your answers in the box on the right. Were you familiar with this brand prior to the show? How did the interview impact your brand affinity? What stood out to you in Davis’ story? What was inspiring or thought provoking? What tips do you think Davis Smith would provide to someone who wants to be an entrepreneur? What are character traits Davis Smith had that helped him become a successful entrepreneur? What’s a question you’d like to ask Davis Smith? Before you listen: Visit the Toms site. What do you observe about their products? What does the brand seem to be about?

While listening: Here’s the link to the episode! HIBT: Blake Mycoskie Respond to the questions using the space to the right as you listen! What problems did Blake solve through some of the different businesses he started? What are risks Blake took during some of his business ventures? What are some serendipitous situations that propelled the marketing of Toms shoes early on? What was the question Blake was asked that inspired the creation of Toms? Why does Blake think his business is a movement? Briefly outline Blake’s journey from his first job to creating Toms. Include at least 4 events.

After you listen: Now that you’ve heard the Toms whole journey, reflect on the questions below and write your answers in the box on the right. Were you familiar with this brand prior to the show? How did the interview impact your brand affinity? What tips do you think Blake Mycoski would provide to someone who wants to be an entrepreneur? What stood out to you in Blake’s story? What was inspiring or thought provoking? What’s a question you’d like to ask Blake? What are character traits Blake had that helped him become a successful entrepreneur

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Solution

 

Directions: First, answer the warm up questions below in the box to the right. Then, scroll down, pick an episode to listen to (Cotopaxi or Toms), and respond to the respective questions!

 

Warm Up Questions:

It’s common for companies now to donate to a cause, whether money or products. For example, Bombas gives a pair of socks to someone in need when you buy a pair. Do you think these donations are genuine? Why do companies do this? Are they trying to be trendy? Does it encourage you to pick a brand over another if it supports a social cause?

Personally, I believe that the donations are very genuine. Corporations make donations as part of achieving their corporate responsibility and philanthropic goals. Through these practices, the businesses are able to get involved in the activities and interests of society. However, that does not influence my choices for a brand. I pick my products based on the reputation and quality of the brand.

 

Before you listen:

Visit the Cotopaxi site. What do you observe about their products? What does the brand seem to be about?

 

While listening:

Here’s the link to the episode! HIBT: Davis Smith Respond to the questions using the space to the right as you listen!

 

What was unusual about the pitch made by Cotopaxi?

 

What are Cotopaxi’s unique selling point/differentiators from a brand perspective? From a business perspective? (Hint: Check around 43:00).

 

What’s unique about the relationship with factory workers where Cotopaxi is made?

 

How was the company launched? What was special about the marketing event?

 

Briefly outline Davis Smith’s journey from his first job to creating Cotopaxi. Include at least 4 events.

 

After you listen:

Now that you’ve heard the Cotopaxi whole journey, reflect on the questions below and write your answers in the box on the right.

 

Were you familiar with this brand prior to the show? How did the interview impact your brand affinity?

 

What stood out to you in Davis’ story? What was inspiring or thought provoking?

 

What tips do you think Davis Smith would provide to someone who wants to be an entrepreneur?

 

What are character traits Davis Smith had that helped him become a successful entrepreneur?

 

What’s a question you’d like to ask Davis Smith?

 

 

Before you listen:

Visit the Toms site. What do you observe about their products? What does the brand seem to be about?

Their products are mainly shoes which are mainly meant for bot the males and females. Kids also wear Tom’s shoes. From what I observed, they are mostly woolen, meaning that they are worn during winter.

While listening:

Here’s the link to the episode! HIBT: Blake Mycoskie Respond to the questions using the space to the right as you listen!

 

What problems did Blake solve through some of the different businesses he started?

Lacked enough finances to help sustain the businesses, such as when he began the TV show

He was also young and did not get the proper guidance

What are risks Blake took during some of his business ventures?

One of the risks he made was deciding to sell the company to his creditors.

It was also risky when he started a TV channel, yet he did not have enough cash to invest.

What are some serendipitous situations that propelled the marketing of Toms shoes early on?

First is when he decided that his creditors should take over the company in the year 2006. Secondly, the form of embedded giving that he adopted rather than the buy one-give one also marketed the brand well.

What was the question Blake was asked that inspired the creation of Toms?

When he visited Argentina, he saw kids walking barefooted and decided that he needed to help them without making donations but rather establish a profitable and sustainable business.

Why does Blake think his business is a movement?

Because before even turning 30 years, he had already established four companies.

Briefly outline Blake’s journey from his first job to creating Toms. Include at least 4 events.

Blake walked to Argentina to work as a volunteer.

His first business began when he was a Freshman in college

He later broke out of college to focus on the operations of the firm.

Consequently, he decided that creditors should take over the company.

After you listen:

Now that you’ve heard the Toms whole journey, reflect on the questions below and write your answers in the box on the right.

 

Were you familiar with this brand prior to the show? How did the interview impact your brand affinity?

I did have some know-how, just after reading from a paper a few years ago. However, the interview had some effect on me when it came to brand affinity. I learned that the company did not use the donations strategy to lure customers but wanted to profit while providing quality.

What tips do you think Blake Mycoskie would provide to someone who wants to be an entrepreneur?

First of all, entrepreneurs must possess self-awareness and reflection. Blake is focused on exploring the world and learning to get inspired

What stood out to you in Blake’s story? What was inspiring or thought provoking?

I believe that he was motivating in that, although he was young, he was ready to come out change the world.

What’s a question you’d like to ask Blake?

Do limits exist when it comes to profit motivation?

What are character traits Blake had that helped him become a successful entrepreneur?

Creativity

Motivational

Passion 

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