Sales and marketing management - Essay Example

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Sales and Marketing Management Introduction The most effective way for companies to market is to know a market particularly well. After gathering information concerning buyers, companies have to know how much their potential customers are willing to pay for the products offered…
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Download file to see previous pages Gathering of information using primary method is the best way because there is interaction with a client (Baker 2008). Primary methods to be used can be observation, networking, interviewing and focus groups. This paper will put forward an in-depth assessment of cause related marketing, its benefits to involved partners and application of various theories Cause Related Marketing Does Cause Related Marketing aim to Generate Resources for Specific Concerns? Starbucks and Nike are one of the few companies that engage in cause related marketing. Companies partner with non-profit making organizations with various purposes. Apart from marketing their products, they raise awareness and offer support and some give donations to hunger stricken people. Other purposes include enhancing a company reputation, to gain financially and to enhance a customer loyalty. This proves that Cause Related Marketing has an aim of generating resources for specific needs (Dibb 2000). Yoplait Yogurt is another good company that did Cause Related Marketing in 1997. This company formed a partnership with Susan Komen Breast Cancer Foundation to promote their yogurt and at the same benefit the cancer foundation. The partnership had been successful because the Cancer Foundation used to receive 10 cents for a cup of yoghurt bought. The brand image of Yoplait was promoted and this led to increment of their sales. It also created a public awareness concerning breast cancer which is a killer disease. Differences between Cause Related Marketing and Social Marketing Cause related marketing has its main focus on benefiting partners involved. It is used to generate resources, create awareness of a situation and improve the image of a company. There is marketing involved. Products of a company are marketed while trying to raise awareness of a social situation. The organization involved get financial help while companies increase their product sales. Social marketing is taking advantage of social media tools to do marketing (Keller 2008). It enables customers to be informed, make better decisions and view products in a wider perspective. Through this way, a company is able to increase its sales and revenue. It is an old strategy of marketing. Benefits of CRM for Both Parties The primary goal for companies that engage in cause related marketing is to increase their revenue and promote their image. This type of marketing enhances brand building. Customers prefer companies or brands that associate themselves with donations. Companies that engage in charitable activities are preferred more than those that do not. Organizations benefit when they are funded by companies. Non-profit making organizations have more sources of funding when they partner with companies that engage in Cause Related Marketing. Companies known to donate to non-profit making organizations include Coca Cola and McDonalds among others (Kotler 2009). Cause-related Marketing generates goodwill for a company and creates organization awareness. Conclusion Cause-related marketing benefits all the parties involved. There is increase of sales because customers like to be associated with companies that engage in charitable activities. Both the images of businesses and organization are enhanced. There is awareness of a social phenomenon and organizations benefit financially. Brand Development Introduction Branding is always in a form of a logo which is designed to convey a certain message ...Download file to see next pagesRead More
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