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It refers to a type of marketing involving the cooperative efforts of a "for profit" business and a non-profit organization for mutual benefit. It is a marketing approach where in an organization supports a cause and associates itself publicly with such a cause.
BENEFITS OF CRM
For non profit organizations: Increases the ability to promote the organization's cause. Increases ability to reach possible supporters through a company's customer base. For profit organizations: Creates positive public relations. Improves customer relations. Increases marketing opportunities.
CSR
CRM
Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them. Corporate Social Responsibility is when the firm tries to give back to the society what it gains from it.
When companies partners with charitable organizations to help nonprofit organization in achieving its goals. Cause related marketing is when it invests time and money towards a particular cause.
CONTD
CSR
CRM
Example: If a media company decides to stop advertising unhealthy food to children and instead commits to promote healthy eating, thats corporate social responsibility.
Example: If, on the other hand, Media Company X partners with a food company to help feed hungry children thats cause marketing.
CHOOSING A CAUSE
Companies choose to focus on one or a few main causes. e.g.: Mc Donalds sponsorship of a guerilla at Sydney zoo with an aim to protect the endangered species. American Express contributes a percent of their income to Breast cancer foundation in USA. The Pink Ribbon campaign.
Single cause- may limit the pool of consumers or stake holders. e.g.: many companies have shown breast cancer as a cause. Multi causes that fit their corporate image and brand image. e.g.: Tata steel, Gillette, Melinda gates foundation, Arvind eye care.
Enhance a companys reputation and brand image Impact a companys bottom line through increased sales Attracting and Retaining Customers Market Differentiation Outreach to Niche Markets Motivated and Loyal Employees, Employee volunteering Reinforced Company Mission Contribution to society
Profit and non profit organization work for mutual benefit Profits are earned by the company Example: Shiksha by P&G
Done by government or NGOs It is done for a social cause Example: Anti tobacco campaign,
COLALIFE
Colalife started as a online movement in April 2008. It engaged UNICEF & Coca-cola along with stakeholders. ColaLife seeks to work with corporate to bring about social change.
Functions
Assembly Of AidPod
REFERENCES
www.tatatea.com www.colalife.org www.wikipedia.com www.causemarketingforum.com Marketing Management-Phillip Kotler