What is it about?
Corporate Social Responsibility increases brand value through impacting brand quality and brand differentiation. This impact increases during recessions.
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Why is it important?
During times of recession, some critics indicate that CSR may be an unaffordable luxury. On the contrary, this research shows that managers may want to consider CSR activities as a means of increasing the value of their brands, especially during economic recessions.
Perspectives
CSR appears to increase perceived quality of the brand and this perception is further strengthened when people pay attention to their purchases. During recessions , since money is scarce, customers buy products more carefully. Hence, CSR may help companies increase sales and thus better face some of the challenges owing to a recession. The paper is doubly important now as almost the entire world seems to be hurdling into an economic downturn. Companies may turn to CSR during these tough times to ensure a steady economic performance.
Abhi Bhattacharya
Rijksuniversiteit Groningen
Read the Original
This page is a summary of: Doing good when times are bad: the impact of CSR on brands during recessions, European Journal of Marketing, June 2020, Emerald,
DOI: 10.1108/ejm-01-2019-0088.
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