The integration of corporate social responsibility and marketing concepts as a business strategy: evidence from SEM-based multivariate and Toda-Yamamoto causality models
DOI:
https://doi.org/10.24136/oc.2021.006Keywords:
customer’s buying behavior, Carroll's CSR pyramid, corporate social responsibility, Toda-Yamamoto causality model, SEM-based multivariate modelingAbstract
Research background: This paper integrates the marketing and corporate social responsibility concepts by investigating how the previous studies de-bated CSR as a business strategy. This discussion extended from academics to business practices. Hence, this study investigated the concept of CSR as a business strategy in a multifactorial fashion in the marketing field.
Purpose of the article: This study evaluates the modified model of CSR initiatives as business and marketing strategy and their impact on customers' buying behavior. For this purpose, we have taken dimensions of Carroll's pyramid of CSR as marketing strategies. We have also examined the influence of brand loyalty and cause-related marketing as mediating variables and technology as a moderator between dimensions of Carroll's pyramid and customers' buying behavior.
Methods: We employed modified theoretical & conceptual model for evaluating the direct and indirect hypothesized relationship. We have collected 693 responses from the structured and adapted questionnaire. The survey was done among marketing and senior managers of the Asian pharmaceutical industry. We employed SEM-based multivariate modeling to examine the hypothesized relationship.
Findings & value added: The finding of this research exhibited that dimensions of Carroll?s pyramid of CSR have a positive and significant impact on customers' buying behavior. The results further demonstrated that brand loyal-ty and cause-related marketing positively and significantly impact mediators between CSR dimensions and customers? buying behavior. Finally, the technology has a significant influence as a moderator between exogenous and endogenous factors. The undertaken study demonstrated important theoretical and practical implications. The modified conceptual framework has provided several new dimensions for future researchers to use and replicate in different economic sectors. On the other hand, practitioners of the pharmaceutical industry should incorporate Carroll's CSR pyramid as business strategies to gain the trust and respect of their customers.
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