Definition of Cause Marketing: -
Cause marketing or cause related marketing can be defined as a distinctive marketing strategy that tends to bring together the collaborative efforts of a profit business along with a non-profit organization for benefitting both of them.
The term cause marketing is at times used in a broader context for addressing any form of marketing initiatives for social benefit or philanthropic cause. This can also include the in-house marketing initiatives taken by the non-profit organizations or institutes. However, cause marketing must not be confused with corporate giving away, as this term refers to a donation of items that are tax deductible, while cause marketing is the strategy of promoting customer relationship, which might or might not include the donation of items.
Cause marketing tends to benefit both the non-profit organization as well as the business organization, by increasing the promotional scope of the non-profit organization through higher financial resources and more possibility of reaching out to the supporters of the cause through the customer database of the company. On the other hand, the business or company owner has the scope of improving their public and customer relations, which will inevitably open door for further marketing opportunities, fetching in more revenue. Because of the extensive media coverage, in digital as well as print media, cause marketing if often referred to as integrated marketing.
Textbooks on Cause Marketing: -
Some of the textbooks on cause marketing are as follows:
- The art of cause marketing, Earlie Richard, 2000.
- Cause marketing for dummies, Waters Joe., and MacDonald, Joanna., 2011.
Examples of Cause Marketing: -
Example 1: American Express Statue of Liberty Restoration:
The three months cause marketing campaign, of American Express Statue of Liberty Restoration, was immensely popular, for offering 1 cent for each American Express card transaction and $1 for issuing new card, which was extensively covered by media, and ultimately succeeded in raising about $ 1.7 million for restoration of the statue.
Example 2: Yoplait save Lids to Save Lives:
The most popular and active campaign about breast cancer, which was first initiated at 1999 is the Yoplait save Lids to Save Lives campaign. Till date about $ 26 million has been raised successfully, by the aid of immense support from the media and people.
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Essays or Assignments based on such thoughtful marketing strategies demands extra care and brainstorming, so as to help the non-profit organizations effectively. While developing such projects or case study reports, you might require conducting surveys and extensive reading on previous cause marketing campaigns that were successful. If you find it difficult to wrap up all these tasks within a limited time, call the online expert writers at MyAssignmenthelp.com, immediately.
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