WSU MKTG 360 - Final Exam Study Guide (5 pages)

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Final Exam Study Guide



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Final Exam Study Guide

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Marketing and Principles


Pages:
5
Type:
Study Guide
School:
Washington State University
Course:
Mktg 360 - Marketing
Edition:
1

Unformatted text preview:

MKTG 360 1nd Edition Final Exam Study Guide Lectures 15 19 Lecture 15 19 1 Cause related marketing is the process of formulating and implementing marketing activities that are characterized by an offer from the firm to contribute a specified amount to a designated cause when customer engage in revenue providing exchanges that satisfy organizational and individual objectives 2 History of Cause related marketing a American Express 1983 joined the Statue of Liberty Restoration Fund b 1 for each use of its charge card c 1 for each new card issued d 28 increase in card usage over the same time period in 1982 e 1 7 million contributed by American Express to the Statue of Liberty Restoration Fund 3 Cause related marketing is unique a CRM i Contributions to charity from sales ii Offering economic incentives are NOT key characteristics of CRM e g coupons refund offers but can be included b Corporate philanthropy i Donations made on behalf of the company not necessarily based on sales ii Can include sponsorships 4 Is cause related marketing all good a Pros i Increase sales ii Boost public image iii Pacify customers iv Help good causes b Cons i Possible exploitation ii Possible trust issues iii Customers may not agree with the cause being helped iv Possible employee rifts 5 When is Cause related marketing successful a When the consumers employees stakeholders are on board with helping the cause b When the consumers perceive the company to have altruistic motives c When there is a high fit with the cause 6 7 8 9 d When the company is involved in the cause for a longer period of time e When the company is involved with the cause besides just donating money Basic concepts a Overriding Principle i Click Whirr or Automatic Responding ii We often rely on heuristics rules of thumb and respond mindlessly iii Some argue mindlessness is the key to successful social influence techniques b Some Examples i Mother Turkeys ii Jewelry at Twice the Price iii Fixed Action Patterns at Copy



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