What is the current role of the consumer perception on decision making in regards to CSR?
The study into the role of consumer perception on decision making, in regards to CSR has some valuable inferences. Primarily, from an academic standpoint, inadequate attention has been to the role that business ethics plays in society and its effects on consumption. Therefore, a lot can be gained from exploring both quantitative and qualitative research into this area. This is due to the fact that, most of the research into this area focused on the business’s side of the relationship and marketing. Consumers are integral in the business process and not taking into account their influence results in a significant gap in gaining a complete understanding of business ethics.
Secondly, it is common belief to view a brand as an extension of its qualities, attitudes, relationships, and beliefs. As a result, it would be natural to infer that stakeholder trust is based on how a corporation conducts business and how its actions affect society. From a managerial point of view, it is essential to understand the role CSR plays in building intangible assets such as brand loyalty, brand equity, and brand trust. As a result, the ethical consumer has a significant role in managerial actions, if there is a commercial incentive by behaving ethically, in regards to consumer perception. Therefore, CSR becomes a very important tool in order to gain a competitive advantage and differentiation.