1 CAUSE-RELATED MARKETING/CAMPAIGN
For the past two decades, the increasing trend of cause-related marketing (CRM) had attracted many non-profit and even profit organisation to participant in this practice. An early example can be seen from the American multinational firm – American Express in 1984, engaging in monetary donation for every transaction with the company. (Rozensher, 2013) While non-profit organisation see this as an opportunity to raise funds, marketers see voluntary corporate involvement as a form of investment and a source of competitive advantage that work in line with the corporate interest of long-term performance.
According to (Varadarajan and Menon, 1988), the engagement to promote worthy causes and thus intrigued purchase made to the marketed firm. As present consumers are geared towards ‘socially responsible consumption’, social and environmental issues are some of the factors consumers are looking into. (Anuar, Omar and Mohamad, 2013) Therefore, in response to such rising trends, marketers spend larger budget contributing to a cause ‘on behalf’ of consumers rather than promoting a product/service in form of advertisement or promotion. (Varadarajan and Menon, 1988) In the article by (Barone, Miyazaki and Taylor, 2000), it is said that the success of a CRM campaign not only show consumers’ response to a brand for their support to a cause, it also proves that CRM is a powerful tool that differentiate ‘a brand from its …show more content…
With the execution of a well-planned cause-related marketing program (CRMP) through ways like loyalty marketing or public relation, companies can achieve maximum results and benefit with the integration of campaigns and cause effects. While there are several benefits to CRM, authors like (Adkins, 1999; Bloom et al., 2006; Varadarajan and Menon, 1988) have brought up similar strength of CRM:
● Strengthen/Differentiate company
For the past two decades, the increasing trend of cause-related marketing (CRM) had attracted many non-profit and even profit organisation to participant in this practice. An early example can be seen from the American multinational firm – American Express in 1984, engaging in monetary donation for every transaction with the company. (Rozensher, 2013) While non-profit organisation see this as an opportunity to raise funds, marketers see voluntary corporate involvement as a form of investment and a source of competitive advantage that work in line with the corporate interest of long-term performance.
According to (Varadarajan and Menon, 1988), the engagement to promote worthy causes and thus intrigued purchase made to the marketed firm. As present consumers are geared towards ‘socially responsible consumption’, social and environmental issues are some of the factors consumers are looking into. (Anuar, Omar and Mohamad, 2013) Therefore, in response to such rising trends, marketers spend larger budget contributing to a cause ‘on behalf’ of consumers rather than promoting a product/service in form of advertisement or promotion. (Varadarajan and Menon, 1988) In the article by (Barone, Miyazaki and Taylor, 2000), it is said that the success of a CRM campaign not only show consumers’ response to a brand for their support to a cause, it also proves that CRM is a powerful tool that differentiate ‘a brand from its …show more content…
With the execution of a well-planned cause-related marketing program (CRMP) through ways like loyalty marketing or public relation, companies can achieve maximum results and benefit with the integration of campaigns and cause effects. While there are several benefits to CRM, authors like (Adkins, 1999; Bloom et al., 2006; Varadarajan and Menon, 1988) have brought up similar strength of CRM:
● Strengthen/Differentiate company