A Process Model for Implementing Cause-Related Marketing in the Banking System of Iran and Its Outcomes

Abstract

Purpose: The purpose of the current study is to identify the aspects of cause-related marketing in the banking system and determine the outcomes of implementing cause-related marketing. <br /> Design, methodology, and approach: The research methodology is qualitative with in-depth interviews with 16 senior managers of Bank Keshavarzi. Data were analyzed using open coding, axial coding, selective coding, and the software named MaxQDA12pro. <br /> Findings: The results revealed that the aspects of cause-related marketing were affected by internal and external factors as well as their categories. <br /> Research limitations and implications: The emergence of a new marketing concept for audiences has made it difficult to carry out the research. The qualitative research approach was mainly implemented in the working field of the experts of Bank Keshavarzi, with the resulting model created from their opinions.<br /> Practical implications: Banks must implement different strategies for different groups. Implementing cause-related marketing results in social, economic, marketing, and environmental outcomes for banks and the country, each of which affecting the banking activities. <br /> Social implications: If cause-related marketing penetrates into consumer attitudes and behaviors, it will be a marketing tool required to improve organizational reputation, develop a brand image of the company, raise customer satisfaction and loyalty, increase sales, and in the meantime benefit the community. <br /> Originality and value: This qualitative research helps companies that consider new consumers understand their needs and demands, share their values with them, and remain in the current competitive environment. Hence, cause-related marketing can be a safe and distinguished tool in their success.