| A wise man once told "Selling any product or service | | | | business goals |
| is like marriage. If you can't get him by the heart-you | | | | Starting as a marketing initiative in the 80's CRM has |
| are DOOMED". True as the statement is, it is also very | | | | travelled and evolved. One reason is that companies |
| relevant with the present scenario. | | | | are taking a more strategic approach to their |
| To elucidate our point, just by running the term | | | | community-involvement efforts, seeking ways of |
| "Branding" on the internet, we are inundated by a | | | | benefiting community organizations while also furthering |
| plethora of theories, assumptions, models, case-studies | | | | companies' business goals. Effective cause programs |
| which all implicate the quintessential approach to the | | | | can enhance a company's reputation and brand image |
| elusive topic. The mystification is even more enhanced | | | | and increase the credibility of its marketing effort while |
| when we believe that organizations relegate brand | | | | giving customers a convenient way to contribute to |
| management to lower level functionaries and relies on | | | | nonprofit organizations through their purchasing |
| tangibles, more directly the bottom-line, as a measure | | | | decisions. |
| of market viability. The strategic use of branding only | | | | Originally, the principal business goal of a cause-related |
| surfaces when the organization experiences a | | | | marketing program has been to impact a company's |
| turbulent period in time and applies brand principles as | | | | bottom line through increased sales. Yet research has |
| their saviour. The fundamental problem with this view is | | | | shown that, for companies committed to corporate |
| that the company's cursory involvement implicates a | | | | social responsibility, CRM programs can offer other, |
| tactical view and permeation throughout the | | | | often unanticipated, benefits to a company as well. |
| organization will not congeal. The brand exists in the | | | | Long-term impacts are increased profitability or cost |
| murky shadows and becomes a vague reminder of | | | | savings are often attributed to the observed changes |
| the organization's identity. On the other hand, an | | | | resulting from effective CRM partnerships. While the |
| organization that embraces their brand as the strategic | | | | value realized by cause marketing programs will differ |
| cornerstone of the business and obtains cultural | | | | among companies and industries, some of the potential |
| acceptance will emerge with a strong identity and | | | | benefits include:o Attracting and Retaining Customers: |
| market position. | | | | Long-term efforts help attract and build long-term |
| The intent of this paper is to understand how brands | | | | relationships with customers. There are expectations |
| can innovate and come out of murky shadows of | | | | for companies to go beyond their call of duty. |
| competition, clutter and myopic thinking by effective | | | | Propensity of consumers to switch is far higher when |
| use of cause-related marketing. Also this view is finally | | | | they find that a company supports a social cause.o |
| linked to the social responsibility each and every | | | | Market Differentiation: CRM helps to create an |
| organization shares with the stakeholders, or more | | | | alternative and distinctive approach to brand |
| specifically, the community. | | | | advertising.o Outreach to Niche Markets: Partnering |
| Why do we need any innovative branding technique? | | | | with nonprofit organizations can help a company to |
| David Aaker had contended that a brand image | | | | connect with specific demographic or geographic |
| reflects the past and is passive in nature, whereas the | | | | markets.o Motivated and Loyal Employees: Companies |
| brand identity is active and focuses on the future. Let's | | | | can attract and retain quality employeeso Reinforced |
| briefly view how the brand identity gets smudged. | | | | Company Mission: CRM efforts can help communicate |
| 1. Effect of intensified competition: | | | | to employees, customers, suppliers and other |
| The essence here is that every product is keen to | | | | stakeholders a company's commitment to corporate |
| occupy the single bit of mind space of the customer. | | | | social responsibility. |
| All competitors vie for the same space and all | | | | Research findings |
| positioning platforms are already taken up. Now the | | | | We, in order to quantify our beliefs ran a quick |
| challenge is to rise above the crowd and be heard. | | | | secondary research survey in our college and |
| Can cause-related marketing be a way or process to | | | | gathered responses from 159 candidates.o 96.2% of |
| do so, is what we'll try to find an answer to | | | | the respondents were aware of at least one |
| 2. External Perspective Paradox | | | | cause-related marketing program.o 59% of the |
| The common viewpoint of organizations is to maintain | | | | respondents had participated in at least one cause |
| an external focus - how customers perceive the | | | | related program and 89% i.e. 80 respondents reported |
| brand. Most organizations fail to internally communicate | | | | to have a positive impact on their perceptions towards |
| the vision and values of their brand. It's not only about | | | | the companyo 49% of the respondents out of 80 who |
| whether the customers are able to relate, understand | | | | had participated in any one CR program showed an |
| and finally appreciate the company's vision, but also | | | | actual change in behavior, saying that they switched |
| whether the employees are able to pass on the | | | | brands, increased usage or tried or enquired about |
| company's culture to the customers. | | | | new products.o 71% of the respondents believe that |
| 3. Product-Attribute Fixation Trap | | | | the present number of organizations pursuing CRM is |
| The failure to distinguish between a product and a | | | | low and would love to see more organizations |
| brand is the essence of a product-attribute trap. Most | | | | following the practice.o Out of the respondents, 71 |
| companies view product attributes as the basis for | | | | were female and ALL of them were aware of CRM |
| purchasing decisions and competitive strength in the | | | | programs, 86% had participated in at least one |
| marketplace. Ask someone what they drive? If they | | | | cause-related program and again, ALL of them had a |
| possess a sense of pride, they'll quickly respond with | | | | positive impact towards the company.o Out of the |
| the brand name - not horsepower or torque ratios. | | | | female respondents, 69% told that they switched |
| Perspective linkages of CRM and CSR | | | | brands, increased usage or tried or inquired about new |
| Apart from external communication to the consumer | | | | products. |
| and enhancing brand equity, Cause-related-marketing | | | | Consumers have a more favorable attitude toward a |
| does have an internal perspective. Internal marketing is | | | | Cause Related Marketing program, and are more likely |
| as important as external marketing. Internal marketing | | | | to participate when there is clear affinity between the |
| takes into account communication and relationship | | | | brands, the company lives and breathes the |
| enhancement with the employee. Marketers must | | | | relationship, it is easy for consumers to participate in, |
| adapt an internal perspective to realize an important | | | | and the program clearly communicates the company's |
| aspect- employees, to realize direct core brand | | | | commitment. Also a key note is about the high affinity |
| deliverances to the customer. It helps to inform and | | | | of females towards Cause-related affinity may be the |
| inspire employees. We have to realize that one of the | | | | future. |
| most potent influences on brand perception is the | | | | Model for CRM initiatives |
| experience customers have with the company | | | | Things that can be measured can be improved. Hence, |
| personnel. | | | | we try to incorporate a model that includes metrics to |
| CRM lends a holistic view point to marketing process, | | | | measure the effectiveness of the CRM event. The |
| ensuring that everyone in the organization embraces | | | | model has been broken up into three phases, |
| appropriate results delivered. | | | | Pre-event i.e. before the Cause-related marketing |
| It can be seen as a perfect opportunity to reinstate | | | | event takes place, Event and Post Event. The metrics |
| the point that it is a definite opportunity to enhance an | | | | are developed to measure three major parameters |
| organization's corporate reputation, raise brand | | | | that we believe are important and crucial for |
| awareness, increase customer loyalty, build sales, and | | | | measurement. They are Human capital factors, |
| even increase press coverage. Customers will | | | | Organizational factors and Environmental factors. The |
| increasingly look for signs of good corporate citizenship | | | | model also includes the must-do's in the CRM |
| and go beyond supplying rational and emotional | | | | campaign, that we thought were crucial for any |
| benefits. | | | | organization. |
| Concept of Brand Equity | | | | Final Words |
| Brand equity refers to "set of assets and liabilities | | | | We have to admit it that corporate houses have an |
| linked to a brand, its name and symbol that add to or | | | | eye at the bottom line, always. CRM will only lead |
| subtract from the value provided by a product or | | | | them to work for a 'socially oriented capitalism' halo |
| service to a firm and or to that firm's competitors". | | | | around their customers. The profit motive will be |
| A brand's value is a function of the customer's | | | | deeply embedded within social motives. This is not a |
| perception, his/her attitude towards it, and the | | | | bad thing though as it not only increases NGO's direct |
| emotional value that the customer attaches to the | | | | funding but also is a humane attempt towards making |
| brand. | | | | a better tomorrow. We all have to learn to give, and |
| Approaches of CRM: Benefiting communities, securing | | | | this was the marketers turn. |