Creating Shared Value and Fan Loyalty in the Korean Professional Volleyball Team

Abstract

Creating shared value has been a new strategic management paradigm for professional sport teams around the world. However, despite the active participation of professional sport teams in creating a shared value program, research that addresses its effectiveness appears to be very limited. The present study investigates the influence of sport fans’ perceived creating shared value on team trust and fan loyalty and the moderating effects of sport fans’ altruism on the relationship between creating shared value and team trust in the Korean professional volleyball league. A total of 198 Korean volleyball fans participated in the present study. Results revealed that sport fans’ perceived economic and social values had significant impacts on team trust and, in turn, team trust significantly affected fan loyalty. However, the moderating effect of sport fans’ altruism was not found on the relationships between creating shared value and team trust. Consequently, the present study’s findings may provide professional sport teams’ marketers with the rationale as to the effectiveness of launching creating shared value programs.

Creating Shared Value to Enhance Customer Loyalty: A Case of a Sporting Goods Company in Korean Athletic Shoe Market

“…The researchers concluded that the positive perception of the community and the employees about the economic value of the CSV program transformed the reputation of the company into something positive and respectable. Kim et al, [15] also found that the sport fans' perceived economic value of a CSV program positively impacted the professional baseball team's image. The researchers that the CSV program could serve as an effective marketing strategy for the brand image enhancement of professional sport teams.…”

“…Along with active participation in CSV programs at the corporate level, studies related to the validity and reliability evaluation of CSV activities have been conducted. Prior relevant research supports that consumers perceive a company's economic value, which refers to corporate profit maximization by improving product and service quality as a firm supplies products and services necessary to consumers [15] as an essential factor in successfully implementing a CSV program. It enhances productivity, such as compliance with corporate ethics and transparent management [20].…”

“…They concluded that when a firm implemented CSV, its brand image is likely to be enhanced. Kim et al, [15] also suggested that a CSV program for professional sport teams can effectively strengthen their sustainable competitiveness by reporting sport fans' social value is positively linked to brand trust and reputation of a professional baseball team actively engaging in a CSV program. Thus, based on the findings of previous relevant studies, the following hypothesis was suggested:…”

“…A total of 20 items, except five demographic characteristics (i.e., gender, age, education, occupation, monthly income), were adapted from previously validated studies and measured on a five-point Likert-type scale, ranging from 1 (strongly disagree) to 5 (strongly agree). We adapted nine items to measure sports consumers' perceived creating shared value consisted of economic value (three items, α = 0.85), social value (three items, α = 0.88), and environmental value (three items, α = 0.78) from Kim et al [15], Seo [33], and Wu and Wang [27]. For brand image, three items (α = 0.72) were adapted from Choi and Kim [20].…”

“…Moreover, as the CSV framework has rapidly spread beyond the corporate level to academia, academic efforts have been made to secure the justification and momentum for implementing CSV-related programs [7]. A voluminous CSV literature empirically tested and supported that consumers' perceptions of corporate CSV programs positively affect brand attitudes [8,9], brand image [10][11][12][13], and brand loyalty [11,14,15].…”