Scenario: As an assistant brand manager for retail banking at Fifth Third Bank, you have been asked by top management to evaluate the potential for cause marketing to drive new account growth. Specifically, Fifth Third would donate annually 1% of each checking account average daily balance to a charitable organization chosen by the account owner. You have been asked to discover who is most likely to respond to a cause marketing offer, and how many of these consumers reside in Fifth Third’s top state market, Ohio.
1. Using data from the Mintel “Cause Marketing-US-August 2011” report, based on the section on “CRM Campaign Influence on Purchase Decisions,” are male or female consumers more likely to report that “sometimes a cause-related offer will affect my purchase decision?” (Because this database is not open to the public, you will need to sign in with your Davenport email/password, agree to the terms of use, and create a user profile if you have not used the Mintel database before.)
2. Which age group is most likely to “often decide to purchase a product based on what cause it supports?”
3. Based on the section “Charitable Giving, CRM Spending and Forecast,” by what percentage did cause sponsorship grow in 2011?
4. Using data from Demographics Now, how many female 15-24 year olds were estimated to reside in Ohio in 2014?
5. Is that number projected to increase or decrease by 2019, and by what percentage?
Critical Thinking Question:
Would you recommend a cause marketing initiative to drive new business for Fifth Third Bank in Ohio? Why or why not?
