Pepsi has decided to pull out of Super Bowl ads beginning 2010 , and will instead start a $20 million cause marketing campaign named “Pepsi Refresh Project”. Under this program, Pepsi will be awarding grant money for community projects proposed and selected by consumers such as helping high school students publish books to develop their writing skills.
Cause marketing or cause-related marketing refers to a type of marketing involving the cooperative efforts of a “for profit” business and a non-profit organization for mutual benefit. The term is sometimes used more broadly and generally to refer to any type of marketing effort for social and other charitable causes, including in-house marketing efforts by non-profit organizations. Cause marketing differs from corporate giving (philanthropy) as the latter generally involves a specific donation that is tax deductible, while cause marketing is a marketing relationship generally not based on a donation.
One of the first examples of “cause related marketing” occurred t in 1976 when Marriott Corporation partnered with March of Dimes for its fundraising project. Marriott’s objective was to create publicity and media coverage for the opening of its 200 acre entertainment center in Santa Clara, California. March of Dimes’ objective was to increase its fundraising. The result was enormously successful.
Other examples include American Express 1983 sponsorship campaign for the “Statue of Liberty Restoration Project”. Studies showed an increase of 17% in new users and 28% increase in card usage as a result of this sponsorship.
OnPhilantrophy’ website reports a dramatic rise in recent years for cause related marketing, from 1.11 billion in 2005 to 1.34 billion in 2006, 1.44 billion in 2007 and 1.52 billion in 2008.
According to the Cone Millenial Cause Study in 2006, 89% of Americans aged 13 to 25 will switch from one brand to another brand of a comparable product for a “good cause”. Most would prefer working for a company that is “socially responsible”.
In today’s competitive business world, whether you are an entrepreneur, or someone looking for a job, what would make your products or services sell will depend on product differentiation. Ask yourself the following questions:
1. What is the magic about you?
2. If I go to three different companies, are they all the same?
3. Who are you? What are your values?
We all want to fit in and appeal to everyone. At the same time, we also want to be totally unique and special, embrace our quirks and our niche. Note that you can not be both. You can be the same as everybody else or you can be totally unique.
FIND THE MAGIC IN YOU!
As a business, you need to find out your personal values and align them with your corporate objectives. Find what is your core business, core products or services and do it really well.
Find the magic in you and let it stand out! That is the only way to compete in this business jungle.
Just look at the Starbucks, a cup of coffee is more than just that, it is telling a story about ethical beans, about treating yourself to premium coffee.
Imagine a bald head as a blank canvas or a blank billboard, where you are free to post your company logo or advertising message. Then send this bald head to roam around high traffic areas like the mall, downtown streets, airports, festivals, university campuses…. In today’s competitive business world, companies are coming up with creative advertising ideas that are different and inexpensive.
Bald Media is a company founded by a Canadian in Toronto, Ronnie Lebow, an award-winning art director and copywriter who has been working in the ad industry since 1994. According to Ronnie: “Guerrilla marketing is huge right now, everyone is straying away from television, and print is on the decline because of the web, so anything you can do to get into people’s faces right now just seems to work.”
The advertising message is printed on the bald heads using a combination of airbrush latex paints and temporary tattoos that can be washed off in a shower. Bald Media hires bald actors, and there doesn’t seem to be a shortage of bald heads. The owner of Bald Media hopes that this concept can eventully be franchised.
Here is a video that shows how the process is done.
A Canadian company has launched a social networking site called “Sprouter“ designed for entrepreneurs to connect, share ideas, experiences and exchange information in an online community. The concept is similar to Facebook, except the Sprouter will be a social site dedicated only to entrepreneurs, thereby reducing the noise from the rest of the social networking world.
Users register by creating a profile and sign in to connect with other members in the same business, same locale, or similar businesses in a different locale. Users can also engage in different discussions on the site’s forum and share experiences.
Sprouter is currently funded by angel investors and its current priority is to build the site’s user base. It has yet to determine the business model for generating revenues and will be looking to partnerships with small business associations as potential source of revenues.
So, to all the entrepreneurs with a time-deficit, this is another chance to network from the comfort of your chair.
There are many buttons that identify the funemployed. They are unemployed, but they don’t care, because they have the funds to live and enjoy life. They are usually single, under 35, no mortgage, no children, and want to enjoy their lives, whether by travelling, or by playing, golfing, skiing, whatever it takes to keep them busy having fun.
Many of the funemployed are previously corporate workers with high earnings. Recently laid off during the recession, they have unemployment benefits, severance packages or savings that allow them to stay funemployed. This phenomenon is happening all across North America and the globe. In fact, there are over 10 million millionaires all across the globe. People who do not have to work and have time to travel.
So, as an entrepreneur, do not ignore this group of target market. Be sure to include them in your market research and marketing strategy.
Hello, I am Missy.
Thank you for visiting. I hope you enjoy my blogposts. Little tidbits here and there. Nuggets of wisdom.....for budding entrepreneurs.
“Do well by Doing Good.”
Here is a time management tip from Ottawa-based coach Donna Karlin:
In today’s competitive business world, whether you are an entrepreneur, or someone looking for a job, what would make your products or services sell will depend on product differentiation. Ask yourself the following questions:
Imagine a bald head as a blank canvas or a blank billboard, where you are free to post your company logo or advertising message. Then send this bald head to roam around high traffic areas like the mall, downtown streets, airports, festivals, university campuses…. In today’s competitive business world, companies are coming up with creative advertising ideas that are different and inexpensive.
A Canadian company has launched a social networking site called “
There are many buttons that identify the funemployed. They are unemployed, but they don’t care, because they have the funds to live and enjoy life. They are usually single, under 35, no mortgage, no children, and want to enjoy their lives, whether by travelling, or by playing, golfing, skiing, whatever it takes to keep them busy having fun.
