Cause Related Marketing: A Boon or Bane for Business Corporations

Abstract

Organisations are doing social activities from a long time for the improvement of society though Corporate Social Responsibility (CSR) which has already become one of the important aspects of the organisation culture and hence serves as a tool for competitive advantage. As Cause-Related Marketing (CRM) is usually subsumed under Corporate Social Responsibility (CSR), which all started for the betterment of the social well-being but has emerged as one of the strong marketing strategies for the organisations to improve their reputation. This article examines the aspect of corporate social responsibility, i.e., cause-related marketing from the point of view of Corporate Philanthropy. The objective of the paper is to understand whether this concept is viewed as a part of corporate Philanthropy and does consumer believe that the cause associated with these campaign needs their attention which in return acts as a catalyst for corporates. Non-profit organisations get their required funds and businesses need to perform excellent deeds to upgrade their public image. Organisations also considers that the cause associated with the product in the CRM campaigns were quite useful to seek customers attention.

Keywords: Cause Related Marketing (CRM), Corporations or Business Organisations (BO), Corporate motive, Corporate Social Responsibility (CSR), Non-Profit Organisations (NPO).

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