Cause Related Marketing

In this competitive market to position your product different cause related marketing has come out as a way for marketer. As stated by Adkin in 2004,

INDUCTION FOR BATCH 2017-19 – A DAY TO RECKON WITH!
SKY IS (NOT) THE LIMIT
“Marching towards a sustainable future…”

In this competitive market to position your product different cause related marketing has come out as a way for marketer. As stated by Adkin in 2004, product or services offered by the company does not suffice the competitive requirement & it is required by the brand to have some strategic alliances.

Both large corporations and small businesses have been increasingly expected by the public to contribute to non‐profit causes. The social responsibility of marketers has been discussed for a long time. Societal Marketing is to determine the needs, wants and interests of the target market and to deliver the desired satisfaction more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well being. Cause related marketing represents the modern marketing strategies. As observed in work by Chattananon in 2008, He said that most of the companies are doing cause related marketing to build a positive brand image. To have real impact, companies must balance between their profits, the interest of the public and satisfaction of the consumers.

Research in many parts of the world indicates that Cause related marketing results into increased monetary profit of the company practicing it. Additionally, through cause related marketing companies also achieves the non-monetary objectives of marketing like increasing corporate reputation, raising brand awareness, increasing customer loyalty, building sales and increasing press coverage. Together, cause related marketing helps the companies create a point-of-differentiation which is becoming increasingly important in the highly competitive market of today. Out of the total population of 1.25 million of India, young consumers comprises 65% of the total population in the India and has been observed that 75% of Indian youth spends 6000 INR per month towards purchases of consumer goods and services. This Young group also influences family buying decisions .The spent on Cause sponsorship is predicted to reach $2.78 billion in 2017 in India, so this marketing effort seems to have good potential. That is the reason the present study is inclined to study the youth and the variables which affect their purchase intention. There are various reasons which influence the purchase intention of youth like the cause association, brand and the role of gender and profession and the present study tries to identify the correlation in the Indian context.

It is noticed that various research been done with the impact of gender and taking attitudinal behavior factor or perceptional control variable as a construct of study but none of the study has taken brand reliability & its impact on purchase intention. The impact of brand reliability, gender & social cause as an independent variable affects the purchase intention towards cause related marketing products.

COMMENTS

WORDPRESS: 0
DISQUS: 0