how companies use corporate social resposibility to strengthen brand eqality

Every member of society is expected to have a social responsibility, be they students, professionals, or regular individuals or citizens. Lately, though, we have often been hearing the term “CSR”, which means Corporate Social Responsibility or, in business circles or corporate settings, simply known as social responsibility.

But we can go even deeper than that, since social responsibility is also an ethical framework that encompasses that obligation to perform their duties, in order to maintain a state of equilibrium between the economy and the society.

Businesses are aware of the importance of the public, especially their target audience, having a positive perception of them.

“Social responsibility” is no longer a new term in business or other organizational settings. It has been around for a very long time.Businesses that can demonstrate having a social conscience are seen to have greater chances at success, and that is where social responsibility comes in.

By being socially responsible, a company demonstrates that it incorporates ethical practices in how it does business. Customers are becoming increasingly aware about local, national and global issues, and there is no denying that their buying decisions are now being greatly influenced by these issues. Therefore, they tend to buy more from companies that show their concern and their action over issues that also resonate greatly with the customers.

In a recent study, it was revealed that consumers are much more willing to spend money on the products and services of a company that has proven itself to be socially responsible. In fact, 45% of consumers demonstrate this willingness, not even minding that they have to pay more, as long as it is with a company that they trust due, in large part, to their social responsibility measures.

When we speak of branding for companies and businesses, the first thing that comes to mind involves the use of a logo, a tag line, and a name unique to that entity. After all, branding has one end goal: creating a differentiated name and image for a company, business, organization, product, or service. Branding was part of both productivity and creativity.

If you look at the brand management strategies of various companies, one thing is constant: they advertise. They spend on their marketing campaigns. They put out promotional materials and perform promotional activities to put their name out there. They tap into various distribution channels in order to increase their visibility. The more effort they put into it, the higher their brand equity becomes.

Loyalty and trust of customers are what businesses are most after for their brands to be successful and enduring. Indeed, customers tend to be loyal to brands that stick to them for all the right and positive reasons.

Anything that puts the company and its name in a positive light is bound to increase its brand equity