In the past three decades, says Michael Sandel, the US has drifted from a market economy to a market society; it's fair to say that an American's experience of shared civic life depends on how much money they have. (Three key examples: access to education, access to justice, political influence.) In a talk and audience discussion, Sandel asks us to think honestly on this question: In our current democracy, is too much for sale?
How could we become a happier nation? One pioneering economist has spent the best part of a decade arguing that we simply must find an answer to this question – gaining the support of David Cameron, who backed the notion of happiness as “the new GDP”.
Cause Marketing – an unconventional marketing tool!
Terry O’Reilly from CBC’s Under the Influence delivers an interesting view of how “cause marketing” is breaking new barriers by connecting for-profit and not-for-profit organizations in an atypical partnership of marketing and advertising aimed to generate profit while supporting important causes around the world.
Cause marketing is a relatively new term aimed to make the world a better place through service of the public, whereas traditional brand marketing focuses on making a profit in the service of corporations. O’Reilly explains that despite “many non-profits looking at corporations as money-hungry machines, and corporations viewing non-profits as an endless line of charities looking for handouts”, when the right partnerships align, remarkable results can be achieved. The article presents a series of successful cause marketing partnerships, including Marriot & the March of Dimes, American Express & the Statue of Liberty Restoration Project, Home Depot & KaBOOM, and Bono’s “Product RED” campaign, all of which build upon the sustainable marketing platform of taking responsible social and environmental action to meet both the short and long-term needs of customers and their organization.
Further, the Cone Millennial Cause Study indicated that nearly 70% of respondents preferred brands they believe to be socially responsible, and almost 90% indicated they would switch brands if that corporation is associated with a good-cause. Cause marketing not only serves as a marketing tool to extend both brand and cause awareness, but it can also enhance consumer loyalty by building stronger connections, all of which create win-win solutions.
O’Reilly concludes that successful cause marketing requires sustainability, a feat driven by profit over cause. Corporations cannot afford to ignore core business first - marketing has to lead with the product, not the cause – yet, cause marketing should not be overlooked as a tool for one’s marketing platform!
The Guardian Corporates can lead on sustainability but there are no "good companies" yet The Guardian The book certainly practises what it preaches in terms of praising corporates that "get it right" - Unilever, Nestlé and Coca-Cola are repeatedly...
In a consumer-driven economy, the good a company does is increasingly becoming its defining competitive advantage. While CSR, cause marketing and sustainability might have seemed like nice-to-dos just a few years ago, articulating your brand's core values is now critical in terms of the reputational, employee productivity, and bottom line impact to your company.
As Rich Fernandez, Director of Executive Development at Google, said recently at Sustainable Brands '13, If a company's product is not improving lives, it's diminishing them." In the face of rising consumer activism, Marketing 3.0 will be won by those who become purpose-driven social brands. To do so, the CMO, CSO, CSR, and Foundation leads must align to bring a cohesive brand story to life that clearly defines the company's "social license to operate....
... Supply Chain. How Walmart is simplifying the capture of thousands of supplier sustainability innovations. Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter ...