Cause Related Marketing is a marketing tool, to addresses the social issues through providing resources and funding besides meeting business objectives (What is cause related marketing, Business case studies). It is a commercial activity where charities and businesses form a partnership to market product or service, image for mutual benefit. 3M followed co-branding strategy in partnership with Canadian Breast Cancer Foundation (CBCF) (p. 2).
Co-branding and Strategies
Co-branding means the use of one or more trademarks of two or more companies for marketing specific goods and services or events (Co-Branding, 3M).
3M signed a corporate sponsorship agreement with Canadian Breast Cancer Foundation (CBCF) and followed co-branding strategy (Dudo, …show more content…
3M has made overall sales of 106 percent for pink ribbon Post-it products (Dudo, 2011). It has increased overall merchandise point-of-sale by 2.5% where the specified target was 1%. The campaign has reached 46,760,597 people from national public relations campaign, online advertising and Facebook plan (p. 8). Designed post-it dresses on Project Runway Canada and stood among highest rated episodes of the season. They have successfully launched the Post-it note dispenser and sold retail stores with the contribution to CBCF. They achieved $455,000 in display sales out of the target of $250,000. The return on investment received was double the goal and incurred $805,000 in sales. They have made huge entries of 19,074 and visitors spent 13.5 minutes on the game site as the expected was two minutes. They raised a contribution of $20,000 through online auction employee event and product sales. They gained 6,000 new fans on their Facebook page. The 5,000 dispensers were sold and raised $5,000 for CBCF (p. …show more content…
Individuals may less likely to donate if they think they are doing so through their purchases of certain products. The funding sources may dry up and the company pulls out of partnership which effects the long-term sustainability of the cause. There is ethical and moral issue about shift from intrinsic motivation of a company towards social responsibility to using social causes as a tool to increase market share and profitability. There is a risk of separating certain consumers by company that may be hostile to certain social causes (Para,
Co-branding and Strategies
Co-branding means the use of one or more trademarks of two or more companies for marketing specific goods and services or events (Co-Branding, 3M).
3M signed a corporate sponsorship agreement with Canadian Breast Cancer Foundation (CBCF) and followed co-branding strategy (Dudo, …show more content…
3M has made overall sales of 106 percent for pink ribbon Post-it products (Dudo, 2011). It has increased overall merchandise point-of-sale by 2.5% where the specified target was 1%. The campaign has reached 46,760,597 people from national public relations campaign, online advertising and Facebook plan (p. 8). Designed post-it dresses on Project Runway Canada and stood among highest rated episodes of the season. They have successfully launched the Post-it note dispenser and sold retail stores with the contribution to CBCF. They achieved $455,000 in display sales out of the target of $250,000. The return on investment received was double the goal and incurred $805,000 in sales. They have made huge entries of 19,074 and visitors spent 13.5 minutes on the game site as the expected was two minutes. They raised a contribution of $20,000 through online auction employee event and product sales. They gained 6,000 new fans on their Facebook page. The 5,000 dispensers were sold and raised $5,000 for CBCF (p. …show more content…
Individuals may less likely to donate if they think they are doing so through their purchases of certain products. The funding sources may dry up and the company pulls out of partnership which effects the long-term sustainability of the cause. There is ethical and moral issue about shift from intrinsic motivation of a company towards social responsibility to using social causes as a tool to increase market share and profitability. There is a risk of separating certain consumers by company that may be hostile to certain social causes (Para,