Managing Marketing: Cause-Related Marketing (CRM)

Business and Marketing
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Business and Marketing
Question 1
Cause-Related Marketing (CRM)
According to Ferraris et al. (2020), Cause-Related Marketing (CRM) is the partnership between nonprofit design and the organization that is mutually beneficial to both the organization and the society. The method promotes the former's sales and the latter's cause. CRM allows the organization to show social responsibility and promote awareness by aligning with the community's social issues and beliefs. The essay analyses the increasing use of CRM among organizations. It also comes up with a worthwhile cause that can help in the CRM's introduction in Tesla.
The expansion of Cause-Related Marketing has been evident over the years. The increased popularity is due to various reasons. First, it creates a connection between the customers and the organization. Christofi et al. (2020) assert that the continuous interactions between the company and the customers build a bridge between the company's raising money reasons and the target market. The introduction of different causes to the community assures them that the company's profits are beneficial to their personals need. The belief convinces them to trust the cooperation. The trust leads to loyalty, making them the first choice in whatever they manufacture.
Moreover, CRM supports the existing program. A successful Cause-Related Marketing captures both the cause and the company's current products and services (Ferraris et al., 2020). For instance, a company that sells detergent may offer $2 per sale as a food donation to underprivileged communities during the COVID 19 season. The customers need to participate in the program to convince them to buy the products, and the needy people get to have their daily meal. The project ends up mutually supportive to both the needy and the company.
Finally, Cause-Related Marketing appeals to customer's emotions. The success of CRM depends on the cause's ability to capture the feelings of the target market. The campaign must target the client's heart using emotional words that prompt the donor to spend on the project (Christofi et al., 2020). For example, a company that sells female products can partner with a breast cancer crusade. The campaign captures a woman's emotions because it places her in the shoes of a fellow woman who has cancer. They thought they would also be able to motivate them to buy the product and even donate more.
Cause-Related Marketing can be vital in the creation of awareness in Tesla Inc. Company. For any automotive company, safety is a priority. The desire of any driver to feel safe while using the roads creates the right motive. Tesla Inc. can use the inspiration to start a nationwide campaign to train people on safe driving skills and the importance. They can dedicate 5% of their sales to support the cause. The program can mainly target the young adults in college that dominates the list of reckless drivers. The project is worthwhile because it captures the emotions of any vehicle user. The hope that they would trust fellow road users to care about their wellbeing triggers them to purchase the product. Besides the community'...