What is cause related marketing?

Cause-related marketing refers to a strategic partnership between a business and a charitable organization, where both parties work together for mutual benefit. This approach typically involves the business contributing a portion of its profits to the charity or supporting a specific cause, thus linking the company's brand image to social responsibility and community support. By doing so, businesses can enhance their reputation, build customer loyalty, and differentiate themselves in a competitive marketplace, while charities gain funding and visibility.

The other options do not fully capture the essence of cause-related marketing. While eco-friendly products might involve some level of social responsibility, it doesn’t encompass the broader collaboration with charities that define cause-related marketing. Similarly, an initiative aimed solely at increasing corporate profit does not highlight the charitable component. Lastly, outreach initiatives for brand awareness can occur without a cause-driven aspect and don't necessarily imply a partnership with charities.