Sample Essay
Corporations can avail numerous benefits by deploying CSR programs or acquiring them. Some of these include introduction of the company to new segments in the market, increased appeal for the products of the company amongst the consumers that can drive the sales high, better perception and brand image.
The article by Phillip Mirvis highlighted that “it is well documented that a firm’s social credentials can help differentiate its brands, that consumers will switch brands due to CSR issues, and that when they know about a firm’s bona fides in this area, it is a factor in purchasing decisions. Indeed, evidence is that when a product’s social content aligns with their consumers’ personal interests; it can be decisive in building brand loyalty. There are indications, for example, that consumers will switch from one brand to another of same price and quality if the other brand is associated with a cause.” (Mirvis, 2008)
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