Jan 25, 2011

Boom brands through causal branding approach!

Cause related marketing works by integrating the core trading objectives and activities of a business with the needs of a particular cause or charity. When done well, it provides a win for the charity or cause, a win for the consumer and other stakeholders and a win for business as a whole. It makes commercial sense too. As it delivers greater benefit more than anything else any company can do and can achieve through a wide range of marketing tactics, fundraising and social benefits, Stakeholders in a Global Environment
This enhances standing and profile, builds relationships and loyalty, adds value, reveals the organizations' values, supports existing programs and provides resources. It also has the potential to maximize sales, value and income. It is about using marketing, its techniques and supporting valuable causes even as at the same time growing the business. It is a commercial activity by which businesses and charities or causes form a joint venture with each other to market an image, product or service for mutual benefit. Causal Models in Marketing
With the change through the globalization, organizations play an increasing role in community and have a greater impact on society. People in the dual role as consumer and citizen will expect companies to use their power and influence wisely to meet the needs more effectively. It’s about corporate responsibility. It enables an organization to build loyalty amongst the shareholders, expand strong global affiliations and relationships with the government, pierce new markets, and engender positive publicity.
An organization ideally carry on with a cause related marketing mission with some of the key success factors as are given below:

  • Assess organization's values and current image
  • Note down the objectives clearly
  • Short or long term relationship strategies
  • Get organization geared for the challenge in these relationship
  • Visualize the results ahead of time in advance
  • Consumers want socially responsible organizations so go for it
  • Positive image makes a difference
  • Build a human interaction possibly to the whole event
  • Reliability is key
  • Have a campaign-able idea
  • A significant ad and communication budget required
  • Monitor the results closely
  • Trust is the relationships but keep a contingency plan in place

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