Download - Csr vs. Cause-Related Marketing
Cause-Related Marketing
vs. CSR What’s
the
BIG
difference?
Let’s start with
Corporate Social Responsibility.
Definition:Business practices that involve
participating in initiatives
that benefit society.
Athletic wear company Nike likes to make shoes that are both
innovative and sustainable.
Newton Running, a certified B-Corp company,
recycles more than 7,500lbs of waste a year!
It’s clear that socially minded corporations
try to give back to our communities simply because it is in-line
with their values.
But are all companies like that?
Cause-Related Marketing
Definition:A partnership between a for-profit and non-profit
where both entities realize a benefit.
Reebok would donateproceeds to charity from
the sale of these breast cancer
awareness shoes.
But would still keep a portion of the profit for themselves.
Under Armour uses breast cancer awareness, as well,
to try and make a profit off of a prominent cause.
Can you
see the difference?
The companies that practice cause-related marketing are more concerned about the profit they
will make in doing so over actually making a difference.
The Takeaway:Don’t let companies fool you into thinking that they want to contribute to the greater good of society by simply “donating a portion of profits to charity”.
Buy from the companies that practice corporate social responsibility.
They are the ones that truly want to make a change in the world.