Chapter 17 Corporations Flashcards
What are the specific areas within corporate relations?
investor relations
media relations
customer relations
employee relations
environmental relations
corporate philanthropy
marketing communication
What is the goal of investor relations?
to combine the disciplines of communication and finance to accurately portray a company’s prospects from an investment standpoint.
What is the Importance of employees as internal stakeholders/brand ambassador?
they are the primary source of information about the company
What is corporate philanthropy? Give an example
Part of an organization’s commitment to be socially responsible.
Coca-cola, wants to be identified w. healthy, active living, had ppl vote for favorite parks, top 3 won grants
Why do companies participate im VSR?
Engage bc public is often distrustful of these large companies because of their perceived power and wealth (public skepticism and cynicism)
What is cause-related marketing? Give an example
involves profit company partnerships with nonprofit organizations to promote a particular cause.
Yoplait, tells customers that $.10 will be donated to support breast cancer research for each pink yoplait lid customers send in
What are tips for cause related marketing?
Look for a cause related to your products or services or that exemplifies a product’s quality.
Consider causes that appeal to your primary customers.
Choose a charity that doesn’t already have multiple sponsors.
Choose a local organization if the purpose is to build brand awareness for local franchises.
Don’t use cause-related efforts as a tactic to salvage your image after a major scandal; it usually backfires.
Understand that association with a cause or nonprofit is a long-term commitment.
Realize that additional budget must be spent to create public awareness and build
brand recognition with the cause.
What is corporate sponsorships? Explain. Know examples.
form of cause related marketing, for various activities and events
Ex; sponsor NASCAR races
Benefits or corporate sponsorhips
They enhance the reputation and image of the sponsoring company through association.
They give product brands high visibility among key purchasing publics.
They provide a focal point for marketing efforts and sales campaigns.
They generate publicity and media coverage.
What are the similarities and differences among corporate philanthropy, social responsibility, cause-related marketing, and sponsorships?
Corporate philanthropy: part of orgs commitment to be socially responsible
strictly donations, usually monetary, or products
cause-related marketing: made a purchase as a consumer, funding comes from consumer purchase.
sponsorship : money for events, a partnership w nonprofit
What is marketing communication?
Using tools and tactics of public relations to support the marketing and sales objectives of their business
What are the foci or aspects of marketing communication practices?
product publicity, product placement, visual marketing, etc
What is consumer activism?
consumer demands change in corporate policies
What is a boycott?
refusal to buy product or services of an offending company
How can public relations play a role in addressing consumer activism?
PR professionals solicit customer feedback as often as possible and act to satisfy
customers’ needs for communication and service.
