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Mkt Strategy Essay

927 words - 4 pages

to assist the nonprofit organization in raising fund or to benefit the society by supporting a cause. P.R. Varadarajan and A. Menon (1988) have seen Cause Related Marketing in the early stages but absolutely in a projective way. They defined Cause Related Marketing as the process of formulating and implementing marketing activities that are characterized by an offer from the firm to contribute a specified amount to a designated cause when customers engage in revenue-providing exchanges that satisfy organizational and individual objectives. Kevin Keller and Philip Kotler (2006), in agreement with Varadarajan and Menon Cause related Marketing is that marketing activity that links the firm’s ...view middle of the document...

Adkins (1999) the pioneer writer to conceptualize the theme and application of Cause Related
Marketing claimed that this tool puts the organization in a win-win situation in the society as it produces the organization as a good corporate citizen. Formally the world has seen the advent of Cause Related Marketing in the early 80s of the last century initiated by American Express Bank. It was actually the brainchild of Jerry C. Welsh, then the chief of worldwide marketing of American Express Company. He declared a plan that promised to a make 5 cent donation to the arts in San Francisco every time someone used an American Express card and $2 every time American Express got a new number. Amazingly, within three months the campaign raised 108,000 US dollar. It was an actually a pilot approach which projected a great success ahead. Later the bank launched different cause related marketing projects in the upcoming years for the causes like restoration of Statue of Liberty, Charge against hunger etc. (Kotler, 2004). However, cause-related marketing remains complex and uncharted territory for most organizations. They have to not only weigh up whether the resources can be justified by measurable returns, but also make decisions about the nature of their commitment. One survey found that over 300 companies had associated themselves with breast cancer charities, the majority of whom became "lost in the sponsorship clutter" (Belch and Belch, 2001). The organizations lost their individual identity. In addition to this, several organizations had chosen causes in which their target markets had no interest and even consider off-putting (Belch and Belch, 2001).

From the consumers’ point of view the trends that thrust the origin of Cause Related Marketing were growing level of education of consumers, skeptical role of business and people tend to respond “good hearted” firms (P. Kotler and A.R. Andreasen,...

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