Question

What kinds of questions should a company ask as it develops a plan for cause-related marketing? Suggest at least three specific issues or questions to be investigated during the planning process

Answer 1

Cause --related marketing (CRM)occurs when a company forms a strategic relationship with a special social cause or causes that are mutually beneficial to all parties.

While developing a plan for CRM the company should ask the following questions :

1)what will be the return on investment?

2)whether company goodwill will be developed or not?

3)whether company reputation will increase or not?

4)whether a good public relations can be developed or not?

5)whether brand awareness can be increased or not?

6)whether customer loyality can be increased or not?

7)whether Organizational morale will get boosted or not?

Three specific issues or questions to be investigated during the planning process are :

1) Return on investment.

If sufficient return on investment is not seen then the entire project will fail.

2)Increasing brand awareness

If it is seen that brand awareness may not increase which in turn will fail to increase customer loyality and development of good public relations then it will not be fruitful to enter into the project.

3)Developing goodwill

To see whether goodwill of the company will get developed or not resulting in increase of reputation and boosting of organizational morale.If not then the project will not be suitable.