Viability of the Cause-Related Marketing - Case Study Example

Actually, the cause-related marketing strategy as is seen with the Canadian Breast Cancer Foundation in various aspects of corporate social responsibility. Essentially, this strategy worked for the profit and not-for-profit organizations that soot a specific stand in the fight against breast cancer while at the same time marketing their brands. Due to these reasons and the multidimensional aspect of cause marketing, corporates are able to build their brand equity while at the same time cultivating a culture of good reputation and trustworthiness. This is major because every sympathizer towards a particular noble objective will be moved by the actions of all the sponsors of the course. While the main objectives of the companies that engaged in cause branding with the foundation were to promote their brands and to ensure the positive improvement of the society. Thus, it is proper to insinuate that cause-related marketing for the good of the sponsoring organizations, the cancer foundation, and to a significant extent, the immediate community. Besides, cause-related marketing plays an instrumental role in influencing the behavior of various stakeholders. This is major because the stakeholders such as the customers and shareholders will have renewed trust and vigor in continuing to collaborate with the corporates that partake in the cause branding process. Additionally, business enterprises stand to gain in terms of the expansion of the market for their products and ultimately, increased profits. This was demonstrated by a 2007 survey by Cone Inc. that showed that it enhanced the chances of consumers of switching to newer products by 87%. Pink washing as a risk for corporations Essentially, ‘pink washing’ was started as a noble course in order to create breast awareness in collaboration with the foundation while at the same time enabling corporate growth. Nevertheless, there are various risks that pink washing might pose a risk for corporations, depending on their vulnerability levels.   Read More