Influence of social issues, CSR and Customer Perceived Value in Marketing

What is it about?

The relevance and significance of Social issues, Corporate Social Responsibility (CSR), and Customer perceived value around the world is putting pressure on all industries to be more socially responsible while also developing society as a whole. The new generation of consumers is concerned not only with the product's appearance, quality, and price but also with the company's ethical behavior. In the past, the word "corporate social responsibility" had a completely different connotation, but multinational corporations have completely redefined it today. The impact of social issues, CSR, and customer perceived value on marketing has brought about new ways to position a product and create value. From this study one can understand the importance of the role of social issues, Corporate Social Responsibility and customer’s perceived value in influencing the development of novel marketing strategies which ensure sustainable practices in every business operation.

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Photo by Growtika on Unsplash

Photo by Growtika on Unsplash

Why is it important?

This study brings out the importance of communication and transparency by companies. Well-maintained social media pages and websites, prevent stakeholders from being blind-sided. CSR can be used as a strategic tool in marketing and communicating product information and creating of a favorable company image. Every business operation is to be founded on the 3 pillars of sustainability for the long standing of the company. Staying silent is no longer seen diplomatic but irresponsible. Companies need to voice out their stand in social issues instead of being silent. Companies need to establish experience-based and emotional connect with customers.

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