In this article author talks about Cause based Marketing, Its evolution and factors involved in its growth. Since donation of a penny for every card transaction to restoration project of Statue of Liberty. This type of marketing soon became a trend and caught many eyes non profit organisations had ample opportunity to raise funds and marketers seek it as an opportunity to grow their businesses. Companies projected it as a social responsibility and made benefits from the same. Since, its introduction Cause marketing has been subject of debate as it has both pros and cons. The methods and strategies of cause marketing evolved and popularised.
Cause Marketing is described as the partnerships created among companies and causes(NGOs or Fundraiser),
Nonprofit and for-profit businesses have multiple similarities and differences. For-profit organizations are very different from non-profit organizations because the driving goal of a for-profit organization is increasing its revenue whereas a non-profit organization will not go out of business if it suffers financial loss or does not have a bottom-line. The marketing process also differs, with the biggest differentiating factor of profit marketing is to encourage customers to buy and while the nonprofit marketing purpose is usually to encourage people to give. This means that the return on investment differs between the two. Although the principles of marketing remain the same, some of the methods must, of necessity, be different. Because of the intense involvement in the community as well as support from government, agencies non-profit firms should not compete in the same markets as for profit companies nor in anyway position their organization in any way to give the impression that their efforts could be commercial based (Nelson, 2002).
According to the author, Social Marketing can be defined as a process involving the design, implementation and control of social change programs aimed at increasing the acceptability of a social idea in one or more groups of target adopters as well as bringing about the desired behavioural change. Even if the idea that is being marketed is accepted, social marketing is not successful till it is able to induce an action in the individual as well. Andreasen believes that social marketing is unique because it:
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
Gupta, K 2010, Innovative marketing strategy balancing commercial goal and corporate social responsibility. Mumbai [India: Himalaya Pub. House.
It discusses broadening the concept of marketing and new approach to marketing, which emphasises on social and relationship marketing. Then, the government/public sector has been introduced and it proceeds with whether traditional marketing principles can be applied to the marketing of organisations in this sector. It concentrates on issues of relevance-how marketing mix fits to it, what are the benefits and constraints. 1.1 The Marketing Concept and the Marketing Mix: Before proceeding further, it is essential to define what marketing is: Kotler (1991) defines marketing as “a social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others.
By definition, strategic marketing is a firm’s ability to concentrate a limited amount of resource on an opportunity that has deemed to have the highest potential to increase sales, thereby creating a sustainable competitive edge over rivals (Brooksbank & Taylor 2007). Fundamentally, each aspect of marketing has the potential to improve or affect the performance of other marketing facets. Hence, creating a proper coordination of a firm’s activities makes it possible to eliminate unnecessary activities that interfere with efficient profit maximization processes. Strategic marketing explores ways that each of the marketing processes will reinforce each other for the best output. More importantly, strategic marketing makes each department to work
On this occasion to celebrate the 75th anniversary of Journal of Marketing, it is important to recognize its many contributions to the theory and practice of marketing. Marketing is the activity, set of institution, and processes for creating, communicating, delivering and exchanging offerings that have value for consumers, clients, partners, and society. We see the emergence of a whole new marketing environment that will affect the science and practice of marketing in the coming years.
Marketing has earned its place in the not-for-profit world. But marketing and development are not the same. Marketing is about exchanging goods and services for money. Development is about relationships — it is not about money.
In the rich cultural heritage of India since ages country has been known for charity and social duty which has changed its nature over the period of time, now charity has broadened its horizons and now it is popularly known as Corporate Social Responsibility. From the time of introduction of business in India social and environmental issues have penetrated deep roots in the culture of the country, since late 1800s India posses deeper roots practicing industrial welfare and corporate philanthropy clubbed with religious belief. When initially CSR was introduced in the Indian society very few philanthropic activities were documented, but with the realization of importance of philanthropic activities
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
Influencer Marketing, also known as "word of mouth", is the process of brands getting their message out through people who are influential to their target market.
According to Diamond 2008, social media marketing is marketing that concentrate on people and not products. The company can represent the product through a promotional tool if possible all that really matters is customer’s feedback. Marketers are scared about social media marketing because people provide and control the content posted, therefore negative word of mouth can be said about the brand which can spread worldwide in the twinkle of an eye. Social media does not only help companies and brands expand or create awareness it also influences consumers behavior in terms of gathering information, purchasing decision, opinions, attitude and brand evaluation. Marketers need to post topics that will introduce great conversations with consumers
According to Shimp (2007), there are five important factors which determine the purpose of advertisement in terms of marketers’ communication with consumers. He listed these five factors as follows: “(1) informing, (2) influencing, (3) reminding and increasing salience, (4) adding value, and (5) assisting other company efforts.” (p.246). To clarify that, the first most important aspect is informing people which means company needs to enhance the awareness of the consumer about their products by mentioning its advantages and features. Advertising also affect the products in two ways. Firstly, by basic demand, which build consumer desires for old products of the company and secondly, refers to a new brand of the company. In addition, effective advertising can retain consumer’s mind fresh about the image of a brand which develops the trace of the memory where consumers have to choose between two or more products. Moreover, it may change the product quality, create new, well-designed and elegant product and change consumers view towards the product. Lastly, by effective advertising program, company may save money and time as s...
According to the Handbook of Media Management and Economics, marketing is “the art and science of satisfying consumer needs.” Marketing campaigns are strategic plans that will allow a company to push their consumer into buying their product. A good campaign will identify the consumer, their consumer’s needs and desires, and what the consumer needs to experience to convince them the product will fulfill that need or desire. T...
This paper will outline the importance of marketing research and apply that importance to a communication to the management team at Johnson & Johnson’s Consumer Products group. The discussion with management will include the use of current marketing research tools by the company today and the application of each.