Joy of giving week providing stimulus to customers and triggering response in terms of willingness to pay under cause related marketing

Abstract

We conducted a study using an experimental approach and made a comparison of customers' Willingness To Pay (WTP) during two time frames; one highlighting an event - Joy Of Giving Week (JOGW) and the other; post JOGW (Non-Joy Of Giving Week) not specifically linked to giving. When a time frame highlighting an event is used, it provides a stimulus to the customers which triggers a response in terms of higher WTP. We posit that a time frame highlighting an event can have an impact on customers' WTP for a product linked to a cause. We present a new facet of Facilitated Giving Form of Cause Related Marketing (CRM). This form offers benefits to three entities: the Non-Governmental Organization (NGO) in terms of increased availability of funds, customers experience a 'feel good factor' by purchasing a product of the NGO associated with a cause and, builds the image of the business unit.