Topic > Nonprofit Organization - 1419

Nonprofit and for-profit businesses have many similarities and differences. For-profit organizations are very different from non-profit organizations because the main goal of a for-profit organization is to increase its revenue, while a non-profit organization will not go out of business if it incurs losses financial or does not have an economic fund. line. The marketing process is also different: the main differentiator of for-profit marketing is to encourage customers to purchase and while the purpose of non-profit marketing is usually to encourage people to donate. This means that the return on investment is different between the two. Even if the principles of marketing remain the same, some methods must necessarily be different. Because of intense community involvement and government support, nonprofit agencies and companies should not compete in the same markets as for-profit companies or in any way position their organization in any way to give the impression that their efforts might be commercial. based (Nelson, 2002). Marketing's Profit Marketing objectives are usually to let potential customers in the target market know about the product or service and how it can benefit them, with the goal of selling it in exchange for money. The company keeps the money and the customer enjoys the product or service they purchased. Profit marketing also focuses on developing new markets for existing products or identifying markets for new product lines. The main difference between the marketing of the two types of companies is the satisfaction of customer needs. The for-profit marketing customer has a need that he satisfies by purchasing goods or services and can measure sales, the number of customers, or... middle of paper...references:Boundless . Unique issues in nonprofit marketing strategies. Retrieved from: https://www.boundless.com/marketing/introduction-to-nonprofit-marketing/nonprofit-marketing/unique-issues-in-nonprofit-marketing-strategies/Nelson, B. (2002, July). For-profit versus non-profit. Retrieved from: http://www.scoreknox.org/library/versus.htmSandilands, Tracey. Difference between for-profit marketing and non-profit marketing. Retrieved from: http://smallbusiness.chron.com/difference-between-profit-not-profit-marketing-20804.htmlUC Davis. (December 10, 2013). Businesses and non-profits. Retrieved from: http://iccweb.ucdavis.edu/lab/business/Differences.htmVanderkelen, Barry. (September 19, 2013). Having a marketing plan is crucial for nonprofit organizations. Retrieved from: http://www.sanluisobispo.com/2013/09/19/2691030/having-a-marketing-plan-is-key.html