Week 3 EOC: Making Money for Good

As much as I like to bash Walmart for reasons of my own, like the bringing down of local businesses everywhere they do a lot for the community. It is always important for multibillion dollar companies to give back to the community because it builds great customer relations. Yet with that said not many know about these companies like Walmart giving back. In an article from NBCnes.com they reported that “Wal-Mart said most of its U.S. giving was in cash, about $250 million, vs. $22.9 million of in-kind donations…donations went to organizations including the National Teacher of the Year program, hospital aid group Children’s Miracle Network, the Salvation Army, United Way and food bank America’s Second Harvest….and  majority of donations are made at the local level by its 4,000 Wal-Mart and Sam’s Club stores to charities they pick.” http://www.nbcnews.com/id/17803920/ns/us_news-giving/t/wal-mart-keeps-spot-top-corporate-charity/#.UWw_BXfJhoU . No company will make in this business of making money if it was not for the consumer. We are the driving force behind any major business because we buy their goods and services. We as Americans may be gun hoe but we do care so to see someone giving back makes us feel better about buying their product. David Fray from frugalmarketing .com says “Not only is it a primary means for developing a powerful network but also it helps others in the process. People like to associate themselves with businesses that support causes, which help disadvantaged people in a meaningful way.”  http://www.frugalmarketing.com/dtb/charity.shtml .  giving to a charity not only builds great customer relations it also Increasing brand loyalty, Brand differentiation, Changing/strengthening brand image, and product awareness and visibility. “Knowing what motivates businesses to become sponsors can help you plan your approach to them. There are many business benefits of sponsorship” http://nonprofit.about.com/od/causerelatedmarketing/qt/sponsormotivation.htm