What makes consumers respond to creating shared value strategy? Considering consumers as stakeholders in sustainable development

Abstract

Creating shared value is a strategic approach for sustainable development connected to social value that moves away from a corporation's profit and competition-oriented strategies. This study examines consumers' responses, including attitudes and intentions to participate in a strategy creating shared value by applying the persuasion knowledge model. Results reveal that consumers formed positive attitudes mainly through persuasive knowledge, which led to higher intentions to participate in creating the shared value strategy. This study also provides evidence for the role of consumers' propensity for socially responsible consumption, and intentions became stronger when consumers had a strong propensity for socially responsible consumption. This study elaborates on the discussion around corporations' strategies for achieving a sustainable society through social-centric corporate strategies that can be developed by reconciling corporate and consumer morality in the marketplace.

An assessment of corporate social responsibility on customer company identification and loyalty in banking industry: a PLS-SEM analysis

“…Several underlying mechanisms drive customer responses, which have not been studied yet. Most of the previous studies are concerned with the short term and limited effects of CSR on customer behavior such as purchase intention, brand image, customer satisfaction and other behavioral responses (Ramesh et al, 2019;Nam and Hwang, 2019;Toder-Alon et al, 2019). Nevertheless, we note a gap in the literature about the long-term effects of CSR on customer behavior.…”

Consumer motivations to purchase from benefit corporations (B Corps)

“…Intrinsic values related to health, belonging, and being seen as a good person have been found to be relevant drivers of responsible consumer behavior (Andersch, Arnold, Seemann, & Lindenmeier, ; Davies & Gutsche, ; Tully & Winer, ). Additionally, social or environmental values (Devinney et al, ; Eckhardt, Belk, & Devinney, ), and consumers' propensity for socially responsible consumption can also drive responsible consumption choices (Nam & Hwang, ).…”

“…Recent studies have investigated consumer preferences for corporate social responsibility (CSR) initiatives (Golob, Podnar, Koklic, & Zabkar, ; Lerro, Vecchio, Caracciolo, Pascucci, & Cembalo, ; Nam & Hwang, ; Ramesh, Saha, Goswami, Sekar, & Dahiya, ). Consumers consider CSR practices in their preferences and purchase decisions (Jones III, Reilly, Cox, & Cole, ; Luo & Bhattacharya, ; Mohr & Webb, ; Öberseder, Schlegelmilch, Murphy, & Gruber, ; Perera & Chaminda, ), and their willingness to pay a premium price (Lerro et al, ).…”

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

“…Besides, Adidas, a global sporting goods company, also partnered with the marine environmental protection group Parley for the Oceans and introduced shoes that recycle marine waste and illegal deep-sea gillnets from yarn and filament uppers [26]. Given this, studies on creating shared value have shed light on the differences between corporate social responsibility and creating shared value [27,28] and the links of consumers' creating shared value perceptions with customer behavior and firm performance [29][30][31].…”