CSR helps build brand equity, positioning – Chidi Nwankpa
By Felicia Nwosu
Brands have been advised to develop Corporate Social Responsibility (CSR) culture to help build their equity and positioning in the minds of both the existing and potential consumers.
This advice was given by Chidi Nwankpa, a member of the Governing Council of National Institute of Marketing of Nigeria, during an exclusive interview with MARKETING EDGE.
Giving his thoughts on why organisations choose to be socially responsible, Mr. Nwankpa said the concept of CSR depends solely on the operating environment and the organisation’s culture, but noted that the whole concept is based on giving back to the society. He, however, added that there may be motives behind it, which could be charity, marketing strategy or just a gimmick to increase revenue or boost sales.
The marketing consultant averred that organisations which engage in CSR stand to gain as consumers are loyal and at peace dealing with a company that thinks about its host community and the people. He appreciated Shell Nigeria for its visible projects in Nigeria, including Cadbury Nigeria for impacting and transforming both the environment and the lives of its host community in Agbara positively with its various CSR projects.
“A company that thinks about its host community will inspire the people, employees and stakeholders to have confidence and pride in such organisation.”
Nwankpa also stated that for some organisations that may want to grab or do marketing gimmicks, such a project may not be sustainable, as such an organisation will be seen as parasitic in nature by gaining from consumers without giving back.
He emphasised that real CSR must be focused and sustainable for a very long period of time, to the extent that it will bring about fierce loyalty to the brand, which is a competitive advantage, adding that through CSR, the brand can easily capture the loyalty and preference of the consumers.
His words: “CSR is built on the principle of phenomenal charity which is giving back to the society and it helps to give better reputation to the organisation thus growing brand equity.”
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