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Write a Marketing assignment.
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INTRODUCTION:
Non-profit organizations influence society in a variety of ways and their contribution is immense to the social upliftment of our community. But often they are in need of funds for the activities they perform like cars and bikes show, beautification and improving the look of streets, etc. Mostly they approach big corporates with a sponsorship package but invariably many a times they fail since the standard reply from the corporates is they are already sponsoring such events. It is more about building relationships than eyeing the money of the corporates. Corporates generally associate with non-profit organizations with the hope that they would generate marketing exposure for the company and the organization need to understand this need of corporates when it comes to funding. One of the alternative for sponsorship packages have been suggested in this report which is explained as follows:
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CAUSE MARKETING:
Corporates look for marketing opportunities rather than sponsoring options when it comes to charity. Cause marketing is basically a marketing initiative wherein the main focus is the non-profit organization and ultimately it emerges as the beneficiary. A typical example would be when a company sells all its products with a pink label with the non-profit organization’s name on it. This leads to better awareness of the organization and a percentage of sales may be diverted towards them as well. This typically helps the company by attracting new customers who can identify themselves with the cause. As a result it becomes a win-win situation for both the company and the non-profit organization (Rentschler and Wood, 2011).
DECISION CRITERIA:
There can be other alternatives like workplace giving which involves small donations every month from employees who believe in similar cause or customer giving wherein the customers can also take part in the cause and this technique is especially attractive when the company has considerable retail presence. Other alternatives include non-cash gifts or volunteerism but the most effective seems to be cause marketing since it has two fold benefits for the non-profit organization. On one hand it acts as a publicity campaign for the organization while on the other hand it can generate significant funds for the activities which was previously being provided by sponsorship package. Apart from this it also helps the company to increase its customer base by portraying a good corporate citizenship (Varadarajan and Menon, 2008).
IMPLEMENTATION PLAN:
Cause marketing can be implemented in similar lines to any marketing campaign the only difference would be that instead of promoting any product or service the company will promote the activities of the non-profit organization. The organization needs to identify and check whether they believe in the product or the service with which their name is going to be associated. Moreover there needs to be a financial analysis about whether it will be able to meet the funds required for any particular event or not. The campaign should be scheduled after proper consultation with the non-profit organization and their members should be made a part of the entire campaign design so that they can give their valuable inputs. The campaign should also be given due propriety since at times these types of campaigns take the back seat during difficult times for the corporates. These are some of the pointers which should be kept in mind while implementing the cause marketing campaign.
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Rentschler, R. and Wood, G. (2011) ‘Cause related marketing’, Services Marketing Quarterly, 22(1), pp. 57–69. Doi: 10.1300/j396v22n01_05.
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Varadarajan, P.R. and Menon, A. (2008) ‘Cause-related marketing: A Coalignment of marketing strategy and corporate philanthropy’, Journal of Marketing, 52(3), p. 58. Doi: 10.2307/1251450.
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