Survival of the Fittest: Developing a Cost-Effective Branding Strategy for Nonprofit Organization to Survive and Thrive in a Competitive Environment

Abstract

Most companies appreciate the value of a strong brand. It is well-known in marketing that approximately 3 in 4 consumer purchases are emotionally-driven and only 1 in 4 is made out of necessity. Branding helps companies make an emotional bonding with target consumers. Accordingly, companies typically commit substantial resources to develop strong brand image for their products. Unfortunately, nonprofit organizations do not enjoy the same level of resources to develop and implement a branding strategy. It is, however, possible today to develop, with the help of digital communication tools such as social media, cost-efficient yet effective branding strategies for nonprofit organizations.