Corporate Social Responsibility Essay

3828 words - 16 pages

Qn 1
1.     The Natural Environment
One of the more common ways marketers demonstrate social responsibility is through programs designed to protect and preserve the natural environment.
a)    Many companies are making contributions to environmental protection organizations, sponsoring and participating in clean-up events, promoting recycling, retooling manufacturing processes to minimize waste and pollution, and generally reevaluating the effects of their products on the natural environment.
b)    Green marketing refers to the specific development, pricing, promotion, and distribution of products that do not harm the natural environment.
c)    Although demand for economic, legal, and ethical ...view middle of the document...

(3)   The right to choose means that consumers should have access to a variety of products and services at competitive prices; they should also be assured of satisfactory quality and service at a fair price.
(4)   The right to be heard ensures that consumers’ interests will receive full and sympathetic consideration in the formulation of government policy.
3.     Community Relations
a)    Social responsibility also extends to marketers’ roles as community members.
b)    Individual communities expect marketers to make philanthropic contributions to civic projects and institutions and to be “good corporate citizens.”
c)    From a positive perspective, a marketer can significantly improve its community’s quality of life through employment opportunities, economic development, and financial contributions to educational, health, cultural, and recreational causes.

The Benefits of Corporate Social Responsibility

* Public Relations. Each CSR effort can offer many public relations and media opportunities. Example: If a company makes a donation to a community service project, they would likely send a press release to relevant media outlets. Their story could be picked up and included in publications, broadcasts and online news sites, thereby spreading their company message in several directions for little additional cost. Follow up stories showing how the donation has made an impact can amplify and extend the life of the company's message in the media.
* Human Resources.Corporations that can demonstrate their commitment to the social good can be attractive to top talent who share their set of values. For example, Generation Y (also known as the Millennial Generation) is often identified as a very civic minded population who would be attracted to employers with socially responsible values.
* Sponsorship Marketing Opportunities. Corporate sponsorship of charitable events can keep the company's name in front of target audiences in a more subtle way than traditional sales efforts. If an audience realizes that a company shares their own personal values, they may be more likely to buy from that company.
* Team Building. Particularly when a company's values are shared by employees, charitable efforts can become team building exercises that improve staff morale and job satisfaction.
* Reduced Costs. While CSR projects do have costs, often those costs can be less than traditional marketing channels. As well, the resulting benefits of the efforts can reduce other costs. For example, as discussed above, CSR efforts can attract top talent which can reduce human resource recruitment costs. Green and sustainability initiatives could reduce waste and its associated costs. Projects that generate positive mentions in the media can reduce the need for paid marketing and advertising.
* Expanded Customer Prospect Base. While most buyers buy on "value," there are some groups of customers that buy on "values." This is particularly the case for union...

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