For-profit business main aim is to maximize profit. Company would use internal, external and cause related- marketing strategies. In this paper, the focus will be on how cause-related marketing and its impact brand strategy. According to the business dictionary cause-marketing is define as “joint funding and promotional strategy in which a firm’s sales are linked to a charity or other public cause” (Cause-related marketing, n.d.). Cause marketing has grown from $120 million industry to $2 billion between 1990 to 2016. According to Engage for Good statistics (2017), 75% of millennials would accept a pay cut to help a cause their company support and 80% of global consumers believe that an organization should be involve in corporate social responsibility. …show more content…
2017). About 318,590 people is expected to be affected with invasive, situ breast cancer (Cancer.net. 2017). The Susan G. Komen for the Cure (Komen) is a nonprofit organization that creates awareness, and fundraise money to support breast cancer research with the partnership of other organization. Many brand have partnership with the Komen; which is displayed on the brand with the pink ribbon. Yoplait partnered with the pink ribbon, to give 10 cents per lids, with pink ribbon, collected from consumers and raised $1.5 millions. Yoplait message was simple “Save lids to save lives” and demanded a small action from consumers; which was to mail the lids back for Yoplait to donate ten cents per lids. Panepinto (2016) stated the effectiveness of a cause related marketing depends on five elements: simple and inspirational messages, strong visual storytelling, a physical element or exhibit, strong emphasis on social sharing and earned media, and to focus on a big issue coupled with a request for a small personal action (Panepinto, …show more content…
That fiscal year, GM reported a 14 percent sales jump for the Yoplait division” (Cause Marketing, 2017). Consumers were willing to choose Yoplait brand than other brands, because they feel good helping a cause and the results were observed in the increase of sales. The power of cause-marketing does not end after the donation, companies thrive to conduct their business in an ethical manner and aligned with the “cause” promoted. Think before you pink, project for Breast cancer project, challenged Yoplait to stop using dairy with the hormone rBGH with the slogan “Put a lid on it”. General Mills, the manufacturer of Yoplait, within two weeks of the proposal, “announced they were going rBGH free” and Dannon promised to do the same thing (Think before you pink.