8. The Bank of Cancer Research: Applying Social Marketing to Provide Sustainable Funding for Cancer Research

This case study presents a concept for raising funds that would lead to sustainable funding for cancer research. The concept draws on the idea of a purpose entity, in the form of the Bank of Cancer Research (BCR), that would use its profit as a revenue stream for cancer research. The approach also includes aspects of cause-related marketing, where a profit and non-profit organization work together for mutual benefit. The BCR concept has significant benefits for customers, the bank, cancer research, and society more broadly; however, it is not without its limitations, namely how is the funding for a bank able to be obtained? Details of the concept are presented and who should be targeted together with campaign objectives and considerations for positioning of the bank. While the concept is still at an embryonic phase, the case provides the reader with much to consider in the establishment of a new venture concept and the opportunities for applying social marketing theory.