Week 3 EOC: Making Money For Good

Hearing about companies that donate 100% of their profits is a new concept of business that is becoming more popular. Basically they are trying to change the way we look at business and rather than a single individual making too much money to know what to do with they are giving away profits for a good cause. I found that Cozzee is a company that is doing just that and even better, they let the consumer choose which cause they would like to support. They have 8 different causes that you can choose from and each have information about how the funds will be used. They even have a counter of how much they are trying to raise for the specific cause and how close they are to the goal. I believe it’s a good marketing strategy to donate profits for the sake of good, but not all companies that are trying to get into that type of business model have the same good intentions. They’re have already been numerous companies that are taking advantage of the model and giving away a small percentage of money because the CEOs and top level management are paying themselves a very high income which means less money is available to donate. After reading our class book though it is a great concept for a business model. I mean who doesn’t enjoy getting a product and then knowing that the profits of their purchase are being used to support good in the world. The book says, “cause-related marketing can greatly benefit both the company and the cause. The company gains an effective marketing tool while building a more positive public image.” (Marketing: An Introduction Pg. 88) This basically means that if done effectively it can benefit the business and making stronger ties with the community.