Friday, January 17, 2020
Cause Marketing Essay
As the world progresses towards globalization and markets integrate to enhance global trading, there is a constant increase in the competition among businesses. Marketing is tool that is used by every business in order to create a name for it and promote its brand among the consumers. The non-profit goals to promote the well being of the society and its people are often foregone by businesses during their quest for a larger market share. This paper would be focusing upon cause marketing. This marketing essay would be analyzing two businesses that implement cause marketing. Moreover, it would elaborate the benefits that this scheme provides to a Ã¢â¬Ëfor profitÃ¢â¬â¢ business and a non-profit organization. Discussion Cause marketing is basically the mutual effort of two types of organizations with two contradicting objectives. Cause marketing combines the motives of the non profit organizations with the resources of a business. The motive is generally a social or charitable cause that requires large scale marketing. Cause marketing is a distinction from the normal profit oriented market and it is a positive steps towards working for a good cause, benefiting the society and at the same time benefiting the organization. One of the oldest examples of cause marketing would be the relationship that the Boston Red Sox baseball team and the jimmy fund share. Jimmy fund is a charity that supports cancer care and research at the Dana-Farber cancer institute. The jimmy fund and the Red sox have been collaborating for charity events since almost 6 decades and have worked on numerous projects. The jimmy fund/red sox license plates help to raise funds to fight cancer. The money earned from the sale of these license plates adds the amount to charity. This collaboration is one of the most successful and long lasting examples of cause marketing. The jimmy fund has been gathering charity to work on cancer patients with the help of the promotion made through the Red sox team. Conversely, the team has gained a encouraging and heartfelt support from the people and have managed to maintain their self image in a more compassionate and empathetic fashion. Another company that can be taken as an example for cause marketing can be fisher-price. Fisher-price is a company that produces toys for children and infants. It is a well-known and attractive retailer of children toys, baby gear and parenting guides and aims on projecting a friendly and kindhearted image. Since children have an affinity for animals and are naturally fascinated by them, fisher-price has seized this opportunity to collaborate with an organization that protects the wild life and wild places through conducting educational programs and conservation across the globe, the wild life conservation society. Fisher-price carries out this partnership by creating a new line of Ã¢â¬Ëprecious planetÃ¢â¬â¢ toys and baby gear. The sale of these items would set aside amount for donation to sustain the wildlife conservation society. With the help of the financial resources from fisher-price, the wildlife conservation society gains the benefit of having an increased capacity to promote their organization and also, to create greater awareness with the support of fisher-price customer-base. On the other hand, fisher-price gains a positive public image and relations. It would provide the company to improve its customer relations and also help it gain perspective on other marketing prospects. Conclusion Cause marketing is a friendly collaboration of the wellbeing of the society and the achievement of business goals. Non-profit organizations often face the problem of creating awareness and promoting their cause but with the help of large scale well established businesses a larger number of people can be reached. Works Cited Adkins, S. Cause related marketing. Butterworth-Heinemann, 1999. Daw , J. Cause marketing for Nonprofits. Wiley-interscience, 2006.