Corporate Social Responsibility in Promoting Brand Equity - Research Proposal Example

MKT4009/MKT4029 Project and Dissertation Proposal Form Number Middlesex E-mail address Home e-mail address Only complete the following section if you are undertaking an in-company project Company Name Company Contact Name Company Contact Job Title Company Contact e-mail Company Telephone Company Address Title of dissertation The role of corporate social responsibility in promoting brand equity in the retail market in UK Information gathered to research topic: Several corporations across the globe within the business world continue to invest expansively in techniques and procedures for improving their revenues. Several corporations turn to the habitual techniques of engaging customer-targeted advertisements to lure them into accepting their brands. Brand development for the product that a business operates is an essential part of development to grow the market base. However, with the consequential establishments within the society regarding businesses, the understanding of the environment and incorporating activities related to the society in developing the brand equity for the various brands becomes an issue of significance. Thus, many of the corporations and businesses are tuning into engaging socially responsible actions to grow and establish their normal business operations. The activities incorporated in developing the socially responsible behaviours include those actions that lead towards care for the environment, social factors and causes and the communities around these business units (Cheah, Chan, Chieng & Lin, 2007, p 431). For instance, in considering the elements of socially responsible behaviours and actions to engage, the corporations factor the social issues that affect the communities within which they operate. Such establishments include the energy crisis that hit the local as well as the globe in its entirety. Other social issues in which businesses operate to engage in socially responsible actions include, supporting the establishment and development of schools for the communities, supporting organisations such as those facilitating feeding programs and human habitat programs among others. The corporate social responsibility is a procedural action developed by the companies at their will to support and promote the public image in positive manner (Banerjee, 2007, p 97). It is through creating a workplace that satisfies the employees, customers and stakeholders, as well as, meeting the needs of the community that such companies establish themselves in developing their responsible aspects. The establishment of brand equity in its development possesses several similar elements with developing corporate social responsibility. The retail industry remains among the vast and intimately exposable industry, despite its expansive nature. The retail industry incorporates operational businesses ranging across various fields of business operations. These business units both of the small and large scale existence operate on principles of gaining market share and commanding presence in these markets for their success. The need for the establishment and implementation of corporate social responsibilities came through the various challenges within the environment such as global warming, energy usage and waste disposal from products. All these issues have a concurrent relation to the retail industry as they industries participate directly and indirectly in the development of these problems that face the society (Ghosh, Ghosh & Das, 2013, p 26). Thus, the topic of this dissertation, which entails establishing the corporate social responsibility role in promoting brand equity emanates from the need to establish how the company’s actions of socially responsible behaviour can facilitate further gain in the correlation of the corporate social responsibilities and creation of brand equity. Brand equity entails the best assets to associate with the brand name that in return facilitate the increment of the value of the product or service as offered by the company or business. A strong the brand equity promotes a better the opportunity for the company or business to distinguish itself from the competitors in the market. Further, it also facilitates in establishing financial benefits. There are remarkably several procedures in which corporate social responsibility can facilitate the organisations within the retail industry to develop their brand equity. Thus, this is the entire basis of the topic of this research proposal. Literature Review There are several and varying reasons for any organisation to wish to engage in socially responsible behaviour. These are factors emanating from the possible gains that the organisation may gather from such activities, as well as, just being of use to the community. The most notable observation why the organisations engage in the various activities for being socially responsible is to do that which is right to the community, environment and social establishments. The community expects to gain from the organisations operating within their vicinity accordingly as they facilitate the working environment for the business organisation (Clarke, 2010, p 978). Further, the organisations would also wish to engage in socially responsible behaviour is the financial benefits that they stand to gain. For instance, the organisations engaging such behaviours facilitate lower costs to the supplies or the costs of running their businesses; hence, the lower costs associated facilitate the need to engage in corporate socially responsible behaviour. Further, it is observable that the companies engaging in socially responsible activities, promoting the society and helping in promoting the quality of the environment within which they operate have better gains in building their reputation. Thus, the organisations stand to gain in aspects of reputation; hence, improving the market value of the organisation. Additionally, in facilitating and participating in socially responsible behaviour, the organizations in question also do so with the objective of helping improve the environment and the assist the local community. This is an essential factor of engagement for the organisations to participate and engage in socially responsible activities (Clarke, 2010, p 1001). Further, the possible financial gain in the course of participating in such programs that incorporate the community and the environment is the brand equity that they gain. The companies gain notable financial gains with recent studies showing that the companies that engage in socially responsible activities tend to have long-term financial gains associated with the brand reputation they establish. Further, some of the organisations as they engage in the socially responsible activities take the opportunity to establish themselves on the ground through advertising and marketing themselves (Papasolomou & Vrontis, 2006, 179). The organisations as they participate in socially responsible activities also develop means of managing the available resources such as the energy they utilise in their operations, helping to lower the costs of operation; hence, financial gains. These developments in the market are useful and remarkably developing for the organisations. The strength of the brand equity established by the organisation is key to the position the company establishes in the competitive field. The market proves remarkably crowded, especially considering the growing number of investments as the organisations seek to establish themselves. There are several ways in which from the observation of existing operating organisations, participating in socially responsible behaviours and activities is helping these organisations build the equity brand. Similarly, the retail industry stands to benefit accordingly through their decision to engage in corporate social responsibility. The activities and behaviours entailing social responsibility benefit the organisations in building their brands in various ways, which include the following. Participating in corporate social responsibility facilitates the organisation build brand equity through building brand awareness (Clarke, 2010, p 979). This factor entails that, the company as it engages the community and interacts with the community; it gets information about itself to the community and the market at large, establishing awareness of the product to the community. Thus, it is essentially notable that the community is key in growing the brand presence of the organisations; hence, the reason for engaging collaboratively in the activities of socially responsible behaviour. Another cause of corporate social responsibility in which helps in establishing brand equity is enhancing brand image. It is notable that customers purchase the various products as they engage them through the image the products posses. Thus, the process of participating in socially responsible activities facilitates the exposition of a positive image of the product to the customers; hence, the cause to participate accordingly (Crowther & Rayman-Bacchus, 2013, p 46). Additionally, in participating in corporate social responsibility, the organisations are able to establish band credibility, a critical factor to the sales of the product within the community. The organisations create a remarkably fulfilling image n the community, building trust in the community over their products hence they gain credibility of their products. Consequently, they establish brand credibility, which is key in growing to success. Further, the participation in corporate social responsibility facilities and evokes the brand feelings among the market participants. This encourages customer to try the product; thus, its acceptance in the market. Additionally, the process also facilitates for engaging the brand and building a sense of brand community. This community forms part of the target market of the organisations facilitating their developments and growth within the community. In the UK, the retail sector forms the largest private employer of the entire population. The retail sector is key in establishing the employment in the UK, forming over 10% of the employment opportunities for the people in the country (Crowther & Rayman-Bacchus, 2013, p 48). It is also observable that more than half the population in the sector work part time as compared to less than that of a third of the entire economy. The UK also possesses the highest proportion of the international retailers trading and forms the largest international retail market. These aspects define the expansive nature of the industry as a considerable partner and participant in matters affecting the community in the country. The element of consideration also incorporates the various fields in the retail industry, including the fields such as clothing retail industry, finance and banking retail industry among many others. The majority of the demands and supplies of the retail industry in the UK are resources emanating from the community within which they operate. This establishment necessitates the need to establish working relations between the industry and the community involved in this industry. Further, it is notable that the issues affecting the environment also have a direct cause from the industry such including waste disposal of the products from the industry and pollution effects meaning from activities related to the industry (Crowther & Rayman-Bacchus, 2013, P 46). Therefore, in such considerations, the UK retail industry seeks to establish brand names to factor the competitive environment and grow accordingly to the successful levels of engaging customers successfully. Further, the industry is facing increasing challenges in engaging the community and sustaining its activities within the industry. The observable developments in this cause incorporate the participation of the notable companies in the country and their consequent gains from the brand development of their products. These are the driving factors for the retail industry to consider and participate actively in corporate social responsibilities regarding their actions and supporting the community as well as promoting its development. The notable relations between corporate social responsibility and the brand equity establishments are key to the reason the organisations should engage actively in such programs. Corporate social responsibility has a notably key role in establishing the brand equity development of the products and organisations in question. The retail industry has a significant gauge to benefit in engaging in the programs and activities relating to corporate social responsible behaviours. Research question/objective/hypothesis A vast and considerable majority of the consumers in the market would easily switch to brands whose names have association to a good cause. Thus, the major companies in the industry continue to adopt the concept of co-donation as a means of participating in activities and programs considered being of good cause to the community. Therefore, it is with this realization that the dissertation seeks to establish various factors and observations within the relations between corporate social responsibility and brand equity within the retail industry. The focus of the project is in UK, in the very expansive retail industry as relates to the cause of the activities in the market (Hoeffler & Kevin, 2012, p 81). It is notable that the small-scale business entities have a lot to learn from the large-scale corporations. This dissertation seeks to establish the key objectives of defining the level of involvement of the retail industry in corporate social responsible actions and programs. To establish the factors leading to the participation of the retail industry businesses incorporate social responsibility. To determine the benefits the retail industry gains from incorporating corporate social responsibility in the process of developing the brand equity. Additionally, the research proposal will also seek to establish the core activities that the retail industry can engage actively to establish the brand equity of their products and compete at the same level with large-scale companies and businesses. The retail industry comprises of business entities whose market share is depended on their expansive coverage in the market. Therefore, establishing brand equity is key to the success of such business establishments. Further, the UK retail industry continues to grow remarkably, with reported increase in revenue, indicating the steady growth in the industry. This finding facilitates the need for the study and the selection of the case scenario for the research proposal. The hypothesis for the proposal is that social corporate responsibility has a remarkably immense role in promoting brand equity and growing the retail industry in UK. Research method/s and proposed rationale for testing and analysis The procedural process of concluding the course of this dissertation entails understanding the type of data to gather and its attributes. Data related to such a study entails a qualitative approach to the process of the research module as proposed. Qualitative research is a primary process of gathering data and information for the course of establishing reliable findings regarding the topic in study. The consequent effect and impact in understanding the research methods and techniques, their advantages and disadvantages is key in selecting the course of the research methods and data analysis tools for the final findings of the proposed research. This proposal entails understanding the core role of corporate social responsibility in defining the brand equity development within the UK retail industry. The case of the descriptive study entails focusing on the processes rather than the outcome of the process; hence, the reason o selects qualitative approach to the study. It facilitates understating and evaluation of the perceptions and experiences of participants in the study topic. Qualitative approach to this proposed study will facilitate the evaluation of the research field typically in the fieldwork. The course of this dissertation will entail data collection methods from various sources for this success of the study. The key methods of data collection incorporate the gathering of data from the primary and secondary sources. The secondary sources with appropriate literature reviews will be essential in studying the core trends in the retail industry in UK and its core factors of success in relation o the topic of study. The data-gathering tool in this technique that is literature review will incorporate the study of various materials on the topic and within the confines of the subject of study that is information about the retail industry participants and their incorporation in social responsibility behaviours (Tracy, 2013, p 78). Further, literature review will also facilitate for comparison to other sectors operating in UK and their levels for involvement in the activities and programs promoting corporate social responsibility. The other data gathering techniques and methods to incorporate in the course of this study is direct observation. The course of this data gathering procedure will entail going to the field and engaging the subjects of study from the outside without participating actively in their activities. The study will facilitate the clear understanding of the area of study. Observation of the activities happening in the retail industry and the establishment of their involvement in the course for common good of the community will be key observation measures for the report. These findings are key to the course of the study, as they incorporate the field of study in the elemental observation of the importance of corporate social responsibility and the brand equity of the organisations in study. The second essential method of gathering information for the course of the study entails in-depth interviews with key stakeholders in the industry. The elements of observation in the course of the study entail the community within which the retailers operate, the retailers themselves and the lager corporate organisations in the market. These sides of the participants in the in-depth interviews will facilitate the expected information regarding the various elements crucial to the course of the study. Further, they will help in the validity and authenticity of the information gathered for the proposed study. The interviews facilitate key data gathering tools for the proposed study. Another strategic method of gathering information is to incorporate focus groups. Focus groups as a technique of gathering information incorporate the participation of small-organized groups and studying their behaviour. In this course, it will incorporate selecting out groups of the retailers in the UK market and studying their establishments regarding the course of their relation to the issue of corporate social responsibility. These findings from the study will be essential to creating a conclusion regarding the topic in evaluation. This methodology of the study is relevant to the course of the topic in question, considering that, it has qualitative evaluation for the data for conclusion and recommendations. Further, the qualitative research methods permit flexibility in the field and during the course of the study without infringing the expected result of the study. The process also proves less expensive compared to quantitative approach to the study (Scholz & Tietje, 2009, p 56). Thus, considering these advantages associated with the qualitative research method, this method of data collection proves remarkably useful for the course of this research proposal. In the procedures to engage in analysing the information gathered for the course of the proposed study, the information analysis will be at two levels. In this context of the research, it will incorporate the basic level, which is the manifest level. In this section, the data analysis process will involve a descriptive account of the information and data gathered, without considering the theories regarding the subject of study. Thus, this will provide the face value understanding and meaning of the information gathered. Further, the data will undergo further information, which incorporates the higher level or latent level of the analysis (Creswell, 2014, p 56). In this level of evaluating the results, the study will focus on a more interpretive evaluation and analysis of the data and intense inference of the correct face value and inferred meaning of the data gathered. This factor will facilitate a clear understanding of the topic for the final findings of the study as proposed. Through the processes of analysing the content, it will also facilitate coding and classifying of the data and indexing it for further references. Therefore, in this understanding, this proposed study will prove remarkably successful. Practical and ethical issues In conducting such an expansive and detailed research proposal, the consequence of data gathering will incorporate various practical and ethical issues for consideration. In this course, the proposed study facets incorporate legal apparatus and policy to observe regarding the data and information required for the study. Thus, the practical issues in this course will incorporate acquiring permission from the relevant authorities for facilitation in gathering data. Further, the course will also involve incorporating a clear understanding of the legal confines and security of the data gathered since it involves practical industry. Further, the information gathering will incorporate a vast team and a vast area of study; hence, may prove challenging to coordinate the activities involved in the gathering of the data. Thus, these challenges will constitute the practical issues affecting the course of the proposed study. Plan or timetable The course of this study will follow a six weeks period of gathering information. The first two weeks after the approval of the proposal will entail a pre-study of the participants and the area, preparation of the tools and procedural elements for the study process. The following three weeks will be the time to embark on the study, the processes of gathering information, recording and stratifying the data. The final week of the study will entail the analysis and compilation of the reports of the findings of the proposed study. References Banerjee, S. B. (2007). Corporate social responsibility the good, the bad and the ugly. Cheltenham, UK, Edward Elgar. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=209957. CHEAH, E.T., CHAN, W.L., CHIENG, C.L. and LIN, 2007. The Corporate Social Responsibility of Pharmaceutical Product Recalls: An Empirical Examination of U.S. and U.K. Markets. Journal of Business Ethics, 76(4), pp. 427-449. Clarke, I., 2010. Retail power, competition and local consumer choice in the UK grocery sector. European Journal of Marketing, 34(8), pp. 975-1002. Creswell, J. W. (2014). Research design: qualitative, quantitative, and mixed methods approaches. Thousand Oaks, California, SAGE Publications. Crowther, D., & Rayman-Bacchus, L. (2013). Perspectives on corporate social responsibility. Aldershot, Hants, England, Ashgate. Ghosh, D., Ghosh, P. And Das, B., 2013. Brand Personality from Corporate Social Responsibility: A Critical Review of the Brand Image through CSR. Parikalpana: K I I T Journal of Management, 9(2), pp. 22-33. Hoeffler, S. And Kevin, L.K., 2012. Building brand equity through corporate societal marketing. Journal of Public Policy & Marketing, 21(1), pp. 78-89. Papasolomou, I. And Vrontis, D., 2006. Using internal marketing to ignite the corporate brand: The case of the UK retail bank industry. Journal of Brand Management, 14(1), pp. 177-195. Scholz, R. W., & Tietje, O. (2009). Embedded case study methods: integrating quantitative and qualitative knowledge. Thousand Oaks, Calif. [u.a.], Sage Publ. Tracy, S. J. (2013). Qualitative research methods: collecting evidence, crafting analysis, communicating impact. Chichester, West Sussex, UK, Wiley-Blackwell. Read More