Millennials and their attitudes to the corporate social responsibility of global brands: The case study of Slovak Republic

Abstract

Research background:In addition to their economic activities, global brands applying the concept of corporate social responsibility are also focused on social and environmental aspects. At the same time, they emphasize that these interests are not in conflict, on the contrary, they can work together to increase the efficiency of brand strategy. The basis for the application of corporate social responsibility is the fact that customers are becoming more and more sensitive to other activities of the brand and not just to sales. Especially, one generation of consumers, Millennials, is considered to be the driving force behind the demand for socially responsible brands and products.Purpose of the article:The main aim of the paper is to determine the attitudes of Millennials to the corporate social responsibility of global brands. This includes providing the theoretical background and analysis of the corporate social responsibility from the viewpoint of Slovak and foreign authors.Methods:General scientific methods were applied for the processing of the data as well as mathematical-statistical methods to evaluate the data collated from the results of the questionnaire survey and to statistical hypothesis testing. The important source for secondary data was scientific researches, annual companies reports, statistical databases, published professional publications. In order to found out the attitudes of Millennials to the corporate social responsibility of global brands, a questionnaire survey was conducted among Slovak consumers.Findings & Value added:Based on the analysis and results of the questionnaire survey, benefits of the application of corporate social responsibility in the marketing strategy of global brands are highlighted such as gaining competitive advantage, increasing the brand value and improving brand image.