Page 2: What is cause related marketing
Marketing is 'the management process responsible for identifying, anticipating and satisfying customer or consumer requirements profitably'. Marketing involves finding out exactly what the customer or consumer requires and then providing goods and services in a way that delights them. In essence, this involves providing the best possible marketing mix, i.e. the right goods, at the right time, in the best possible places and with the most desirable level of promotional activity. Today, the term social marketing is used to refer to the way in which modern marketing is concerned with meeting the wider needs of the society in which business operates. Social marketing recognises that consumers' brand requirements are important but it also takes into account the needs and expectations of the wider community. Cause Related Marketing has become an important ingredient of this marketing mix.
Cause Related Marketing is a commercial activity by which businesses and charities (or causes) form a partnership with each other to market an image, product or service for mutual benefit. It is a marketing tool used to help address the social issues of the day, through providing resources and funding, whilst at the same time addressing important business objectives. Examples of Cause Related Marketing in the UK include a partnership by Cadbury Limited and Save the Children which raised funds for Save the Children and focused community programmes to the benefit of Cadbury's corporate image. Another good example from the retailing industry is Tesco's 'Free Computers for Schools' which is based on parents and friends of schools collecting vouchers in proportion to the amount of money they spend in Tesco stores. When Cause Related Marketing works well, everyone wins - the company, the cause and the consumer. In business terms, this is known as a win/win/win situation.