Distinguish between green marketing , cause related marketing, and philanthropy and give an example each. What are the some concerns consumers may have regarding cause- related marketing?
Great marketing is the use of environmentally friendly approaches to conducting a marketing campaign including recycled documents, non-toxic colors among others to ensure no harm to consumers. For instance, the products created locally in North America tend to be costly compared to those made overseas using cheap labor and resources but they have a harmful carbon footprint.
Cause-related marketing is a mutually profitable partnership between a profits-oriented company and a nonprofit organization that is designed to boost the old sales and feature motives. an example of cause marketing is creating a unique identity on the product that buyers can recognize in the congested market. However, some of the concerns that consumers may have regarding cause-related marketing include;
a. Type of commodity and perceived fit between the product and the purpose.
b. The level of fit between the product and the diverse cause. Some customers might prefer a high leave of fit while another advocate for moderate or low cause levels fit.
c. The future or outlook of the products.
Philanthropic marketing is an act of business promoting the welfare of others through charitable donation of funds, resources, or time. Additionally, most corporations use this technique ques to generate philanthropic investments and stimulate marketing associations with nonprofit organizations. An example of philanthropy is donating goods and services, to nonprofit organizations to support underprivileged families in society.