Corporate social responsibility has become one of the most widespread notions in the global world (Carroll and Shabana, 2009). Corporate social responsibility refers to the relations between organizations and the society in different dimensions. The aim of corporate social responsibility is to provide a method for organizations to perform their business and meet community demands, and commercial, legal, social and ethical expectations (Venous, 2005). Companies need to involve in different types of social responsibility activities, such as acts of responsibility towards the environment, treating employees fairly or contributions to art and cultural programs in the community (Barone et al., 2000).
Many studies have shown that companies get benefits …show more content…
Brand equity can be a strategic tool to survive in the highly competitive global world. Willingness to invest in socially responsible activities is not a cost or constraint for the company, but a source of competitive advantage (Yoo, 2015). Effective use of corporate social responsibility and brand management can distinguish a bank from its competitors and create a distinct and favorable place in the mind of the customer. Despite the possible benefits of CSR, very few studies conducted on CSR and brand equity in the banking industry in developing countries like Bangladesh. Now, banks are highly interested to know how and to what extent the corporate social responsibility creates brand equity in the competitive financial market environments (Iranzadeh, Ranjbar and Poursadegh, 2012). Therefore, this study is an endeavor to measure the impact corporate social responsibility practices through brand awareness and corporate image on brand …show more content…
Several definitions of brand equity have been proposed. From the consumer perspective, brand equity is the premise that exists in the minds of consumers (Leone et al., 2006). On the other hand, brand equity, from the financial perspective, is the economic value of a brand to the firm (Simon and Sullivan, 1993). Mudambi et al. (1997) defined brand equity as ‘‘the total value added by the brand to the core product”.
Both Aaker (1991) and Keller (1993) are the pioneers in developing the foundation for consumer-based brand equity research. Aaker (1991, p. 15) defines brand equity as “a set of brand assets and liabilities linked to a brand, its name, and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers”. Brand assets are brand awareness, perceived quality, brand associations, brand loyalty and other proprietary assets. On the other hand, Keller (1993) adopted two basic approaches (direct and indirect) to measuring customer-based brand equity. He focused on two constructs namely brand awareness and brand image. The indirect approach strives to identify potential sources of customer-based brand equity tied distribution channels, the effectiveness of marketing communications program, and the success of a brand. The direct approach focuses on consumer response to different elements of the firm’s marketing program (Keller, 2003). The value of brand
Many studies have shown that companies get benefits …show more content…
Brand equity can be a strategic tool to survive in the highly competitive global world. Willingness to invest in socially responsible activities is not a cost or constraint for the company, but a source of competitive advantage (Yoo, 2015). Effective use of corporate social responsibility and brand management can distinguish a bank from its competitors and create a distinct and favorable place in the mind of the customer. Despite the possible benefits of CSR, very few studies conducted on CSR and brand equity in the banking industry in developing countries like Bangladesh. Now, banks are highly interested to know how and to what extent the corporate social responsibility creates brand equity in the competitive financial market environments (Iranzadeh, Ranjbar and Poursadegh, 2012). Therefore, this study is an endeavor to measure the impact corporate social responsibility practices through brand awareness and corporate image on brand …show more content…
Several definitions of brand equity have been proposed. From the consumer perspective, brand equity is the premise that exists in the minds of consumers (Leone et al., 2006). On the other hand, brand equity, from the financial perspective, is the economic value of a brand to the firm (Simon and Sullivan, 1993). Mudambi et al. (1997) defined brand equity as ‘‘the total value added by the brand to the core product”.
Both Aaker (1991) and Keller (1993) are the pioneers in developing the foundation for consumer-based brand equity research. Aaker (1991, p. 15) defines brand equity as “a set of brand assets and liabilities linked to a brand, its name, and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers”. Brand assets are brand awareness, perceived quality, brand associations, brand loyalty and other proprietary assets. On the other hand, Keller (1993) adopted two basic approaches (direct and indirect) to measuring customer-based brand equity. He focused on two constructs namely brand awareness and brand image. The indirect approach strives to identify potential sources of customer-based brand equity tied distribution channels, the effectiveness of marketing communications program, and the success of a brand. The direct approach focuses on consumer response to different elements of the firm’s marketing program (Keller, 2003). The value of brand