Altruism. Corporate responsibility. Philanthropic image. These are a few ways to describe cause-related marketing, an activity in which businesses join with charities or social causes to market an image, product, or service for mutual benefit.
Other things being equal, many consumers would rather do business with a company that stands for something beyond profits. By identifying with a cause and letting the media know about it, you can benefit from this impulse. One of the easiest ways is to establish a relationship with a charitable organization.
Johnny "Love" Metheny is a slightly famous nightclub owner in San Francisco with a string of local ventures to his name. Whenever he opens a new club, he shares the limelight with a local charity. "I have a history of including the Leukemia & Lymphoma Society in my grand openings," notes Metheny. Beyond these events, Metheny volunteers time to the cause, serves on its board, and was voted Man of the Year for the Society in 1991. So, while beneficial to his business, his association with the organization is more than a marketing ploy.
Manish Kumar Verma PGDM III - A
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