While scrolling through Facebook, a sponsored post containing the video below showed up on my feed. It was really interesting and it caught my attention. You might want to watch it.
The Four P’s
Product: The product that is advertised in this video is Bombas socks. The socks, which are a tangible good, keep the consumer’s feet warm and they are stylish to boot. An augmented product piece to these socks is that when a consumer buys a pair the company also gives a pair of socks to someone in need. Similar to TOMS. So, the consumer is not only getting a cool pair of socks, but they are also helping someone else get a pair of socks.
Price: The price for these socks isn’t listed in the advertisement, but after some slight research I’ve discovered that a pair of these socks costs anywhere from $12-$15. A little pricey.
Place: These socks are sold entirely online and, as far as I know, are not available in any retail stores. If the consumer wants them, then they’d better have internet access.
Promotion: This video was delivered to me on my Facebook feed and it immediately started playing once I scrolled over it. The video is also really engaging and funny. Bombas had me hooked from the second that I started watching the video. The channel was on-target and the message was on-target.
I believe that the target market for this product is the millennial consumer in general. I believe this because of the business model that Bombas employs. Millennials love to feel like they’re impacting society with their purchases. That’s why companies such as TOMS and Love Your Melon do so well. Millennials like to buy things, but they also like to buy things with added goodwill. I also believe that millennials are the target market because of the humor and sarcastic overtone of the video. These two elements combined really resonate with a millennial audience.
Does It Work?
On an engagement level, heck yes this ad works. Like I said, I was immediately grabbed by the quality and story-telling found in this video. I began watching and I didn’t want the video to stop. On a sales level, however, I am not so sure if it works that well. I went and checked out Bombas website after the video to see the prices for their socks. If they were only a little cheaper, then I most definitely would have purchased some. Perhaps this product is geared toward the older millennial who is a bit more settled into life than I. In that case, I’m sure it has worked. I mean, they’ve sold over 1 million pairs of socks. So, yes, it does work.