The influence of corporate social responsibility on consumer behavior
World Economic Council for Urban Development Inc., Cottage Way Ste G2, Sacramento, CA 95825 United States.
Review Article
Magna Scientia Advanced Research and Reviews, 2023, 09(02), 072–077
Article DOI: 10.30574/msarr.2023.9.2.0162
Publication history:
Received on 16 October 2023; revised on 25 November 2023; accepted on 28 November 2023
Abstract:
Currently, corporate social responsibility (CSR) has emerged as a critical factor in the realm of business. Consumers have given more attention to environmental issues and social responsibility, and they are checking businesses that do not duly consider their impacts. These sweats relate to companies taking redundant trouble to ameliorate their effect on society while also understanding and heading to fiscal objects at the same time. Due to heavily expanding social media and added transparency, consumers are more and more able to see what a company is doing to commit to social responsibility hastily than ever before. Thus, it is incredibly important that businesses hold themselves responsible for the responsibility enterprise that they annunciate. Identity and upholding norms of a positive ethical commercial culture have become more significant than ever. Also, CSR has a significant impact on consumer behavior. It refers to the conduct of consumers and their opinions about whether to buy products from a company that is socially responsible or not. Numerous studies have shown that consumers are more likely to support businesses that share in social responsibility enterprises, even if it means paying advanced prices for their goods or services. Consumers are willing to immolate some benefits for the lesser good of society and the terrain. This shift in consumer behavior has forced companies to review their practices and strategies, as a strong CSR program can be an important tool for attracting guests and establishing brand fidelity. In today's impregnated request, consumers are no longer just looking for quality products or services; they are also seeking out businesses that align with their values and beliefs. This means that companies with a strong CSR program are more likely to gain a competitive advantage over their challengers. According to a recent check, 66 percent of consumers are willing to pay for products from socially responsible companies. This not only increases the demand for these products but also allows companies to charge ultra-expensive prices, leading to advanced gains. Also, having a positive public image through CSR can lead to increased client trust and fidelity. Consumers are more likely to support a company that is transparent about its conduct and openly takes responsibility for any negative impacts it may have on society or the environment. This, in turn, leads to repeat business and word-of-mouth marketing from satisfied guests. · Impact of CSR on Brand Image
Keywords:
Corporate Social Responsibility; Consumer Behavior; Responsibility; Business
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Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0