Final answer:
Cause-related marketing techniques can be profitable for businesses and can boost brand loyalty and sales. One example of successful cause-related marketing is the partnership between TOMS shoes and its One for One campaign. Careful planning and execution are necessary for this strategy to be effective.
Step-by-step explanation:
Cause-related marketing techniques are typically profitable for businesses when done correctly. This form of corporate giving involves companies partnering with nonprofits or social causes to promote their products or services. By aligning themselves with popular causes, businesses can tap into a consumer base that values social responsibility, which can lead to increased brand loyalty and sales.
One example of successful cause-related marketing is the partnership between TOMS shoes and its One for One campaign. For every pair of shoes purchased, TOMS donates a pair to a child in need. This initiative has not only helped TOMS make a positive impact on communities but also boosted its sales and brand image. While cause-related marketing may not be suitable for every business and requires careful planning and execution, it can be a profitable and effective strategy for companies to support social causes while boosting their bottom line.