16 - Business And Community Stakeholders

Question 1

Cause related marketing

Answer 1

Direct linking other firms product or service to a specified charity – each time a consumer buys a product, donation given to charity by business.

Question 2

Value chain analysis

Answer 2

Identify opportunities of competitive advantage
Identify gaps between firms capabilities and opportunities (cost advantages, differentiation of p&s)
Goal: Raise profits by creating customer value and reducing costs

Question 3

Community involvement (for businesses)

Answer 3

Volunteer programs for employees, managing community involvement (community action program – Ronald McDonald), corporate philanthropy, giving to nonprofits.