Marketing Management, 16th Edition

Corporate Philanthropy

Corporate philanthropy as a whole is on the rise, as more firms come to believe that corporate social responsibility in the form of cause marketing and employee volunteerism programs are not just the “right thing” but also the “smart thing to do.”8

Companies such as The Body Shop, Working Assets, and Smith & Hawken are also giving social responsibility a more prominent role, as is Newman’s Own. Late actor Paul Newman’s homemade salad dressing venture has grown into a huge business that includes pasta sauce, salsa, popcorn, and lemonade and is now sold in 15 overseas markets. The company gives away all its profits and royalties after tax—more than $400 million so far—to thousands of educational and charitable programs worldwide, ...