Cause-Related Marketing
According to Perreault, Cannon, and McCarthy (2014), branding is the use of a name, term, symbol, or design, or a combination of these, to identify a product. Branding can have a significant impact on consumers when they are making buying decisions. For example, can you think of a common brand of orange juice? Coffee? Soda? Sneakers? Cleaning product? Now, when you think of each of these, do you also picture their logo? The likelihood is high that you do, and this is due to their strategic branding.
To prepare:
• Review the Crume web article in this week's Learning Resources.
• Find a company that engages in cause-related marketing.
Submit by Day 7 your completed Week 3 Assignment Template in which you address the following in 500-750 words:
• Identify the company you selected and describe its main products, target segments, and cause-related marketing activities.
• Explain how cause-related marketing impacts the company's image, positioning, and profitability.
• Evaluate this cause-related marketing strategy. Explain your rationale.
• Explain how the company's cause-related marketing might affect social change.
• Support your work with specific citations from the Learning Resources and any additional sources.
Resources:
Readings-
• Crume, N. (2006). When Philanthropy Isn't Just About Philanthropy: Cause-Related Marketing & Cause Branding. Retrieved from http://crumeandcompany.com/files/cause_essay.pdf
• Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J. (2014). Basic marketing: A marketing strategy planning approach (19th ed.). New York, NY: McGraw-Hill/Irwin.
o Chapter 7, "Improving Decisions with Marketing Information" (pp. 168-195)
o Chapter 8, "Elements of Product Planning for Goods and Services" (pp. 196-223)
o Chapter 9, "Product Management and New-Product Development" (pp. 224-251)
• Kawasaki, G. (n.d.). The art of innovation: The 9 truths. Retrieved July 23, 2014, fromhttp://www.1000advices.com/guru/innovation_art_9truths_gk.html
• Document: Week 3 Assignment Template (Word document)
Media
• Alanis Business Academy. (2012b). Episode 51: The product life cycle [Video file]. Retrieved fromhttps://www.youtube.com/watch?v=ekVereJE1ZI
Norwich Business School. (2011). What is branding? [Video file]. Retrieved fromhttps://www.youtube.com/watch?v=JKIAOZZritk.