Global Journal of Management and Business Research, G: Interdisciplinary, Volume 23 Issue 1

These benefits can be utilized by the companies which are featured in the recent press releases and potentially create more revenue for the company. If this is the case, who are being featured on press releases and by the media in recent years? According to Susan¹ ⁴ , after the 2008 recession, there has been a fall of for-profit media coverage, which has paved the way for non-profit media alongside with the increase of competition from cable and digital news outlets. This nonprofit media received can easily lead to increase in brand equity as the Daisy wheel model¹ ⁰ by Jones displays that stakeholders like media play an integral part in brand equity, which will eventually lead to more revenue. V. S ocial A wareness by C ause M arketing According to Christy 15 , usually a partnership between a nonprofit and for-profit for mutual benefit is cause marketing, but apart from this, when for-profit companies that engage in socially conscious behavior to bring awareness to certain issues is also considered as cause marketing. Further on, adhering to the second definition, two types of business try to utilize its benefits, which are B2C and B2B. (An example of B2B is mentioned in detail in the case study section) Today we are going to focus more on this definition rather than the initial one. This cause marketing directly influences social awareness of the company, in other words, social awareness is usually achieved by cause marketing. While we have established that social awareness is a product of cause marketing, is brand reputation related to social awareness? The reason behind this question is to establish another relationship between brand reputation and cause marketing if the answer is positive. As per Jake 16 , Attrition rate or churn rate is "the rate at which customers stop doing business with an entity". Similarly customer loyalty is a "measure of a customer’s likelihood to do repeat business with a company or brand. It is the result of customer satisfaction¹ ⁷ , positive customer experiences, and the overall value of the goods or services a customer receives from a business". Schlesinger and Heskett¹ ⁸ have developed the concept of "cycle of success" and "cycle of failure", in the "cycle of success" better customer loyalty in customer cycle results in lowered turnover and high service quality in employee cycle and finally these both result in higher profit margin which is as well in employee. This gives us an indirect relation of direct proportionality between customer loyalty and profit margins. Fig.3: Schlesinger and Heskett. Cycle of Success. 1991 According to Soumya 19 customer loyalty is a product of cause marketing as "when cause marketing campaigns are conducted, the customers are aware of the brand and feel something good about their brand". Now by this we can say that cause marketing can cause possibly higher profit margins. So if we analyze this relationship with an example by Kayla² ⁰ , she was more motivated than ever to support Starbucks due to its CSR and social awareness, hence creating a brand reputation for starbucks. This reputation was built due to the starbucks college achievement program, this initiative was done with arizona state university, and offers benefits-eligible Starbuck employees the opportunity to go to college, tuition-free, eligible employees can choose from 80 undergraduate programs and work out a schedule that's functional for them. This was started in 2018, to bring awareness to the inequality of college affordability, the main objective was to make college more accessible Supporting Kayla, Paul²¹, based on the data displayed in the given below graph (figure 4) states that over 91 percentage of those who surveyed lean towards buying from a company with excellent CSR, with that, over 84 percentage of the people surveyed said that companies with top-notch CSR gets the benefit of doubt during a crisis. 48 Global Journal of Management and Business Research Volume XXIII Issue I Version I Year 2023 ( )G © 2023 Global Journals Golden Win-Win Situation Created by CSR