Importance of corporate social responsibility in creating brand

Abstract

According to increased competition and market saturation, it is necessary for companies to find a way to express their uniqueness, innovation, differentiation, but also concern about stakeholders' interests. Since the beginning of the 20th century companies have started to change the way of running a business and to realize the importance of corporate social responsibility. Different methods and strategies of communicating CSR activities have been developed over time, including health branding, cause-related marketing and green marketing. The implementation of these strategies implies that companies have chosen the proactive approach and have decided to inform the public about its business activities, brands, initiatives and efforts to solve the problems of the local community. By linking CSR and brand, companies have numerous advantages, including strengthening of the company's brand image and/ or its products and services, which contributes to achievement of good business results, making loyal customers, increasing their satisfaction, retaining good reputation, increasing of demand for products/services. The conducted research will show the younger consumers' habits in Belgrade (Republic of Serbia) when purchasing brands, as well as their awareness of the meaning of CSR.