Business Management and Strategy

ISSN 2157-6068
2020, Vol. 11, No. 1

Corporate Social Responsibility as a Mediator of the

Effect of Brand Awareness and Corporate Reputation on
Customer Loyalty
Lovemore Chikazhe, Blessing Chigunha, Martin Dandira

Chinhoyi University of Technology, Zimbabwe

Tendai Silvaziso Mandere, King Christopher Muchenje

Ba Isago University, Botswana

Received: June 3, 2020 Accepted: June 18, 2020 Published: June 27, 2020

doi:10.5296/bms.v11i1.17141 URL: https://doi.org/10.5296/bms.v11i1.17141

Abstract

Factors that promote customer loyalty are of great concern to the banking sector because
loyalty predicts business success. The purpose of this study is to examine the mediation role
of corporate social responsibility on the effect of brand awareness and corporate reputation on
customer loyalty. Data was collected through a cross sectional survey from 405 bank
customers. Research hypotheses were tested using the structural equation model. The
findings show that corporate social responsibility partially mediates the effect of both brand
awareness and corporate reputation on customer loyalty. The results indicate that corporate
social responsibility plays a vital role within the banking sector as it mediates the effect of
brand awareness and corporate reputation on customer loyalty. If banks engage in successful
corporate social responsibility practices, brand awareness and corporate reputation are
enhanced and this result in improved customer loyalty. By empirically examining corporate
social responsibility as a mediator on the effect of brand awareness and corporate reputation
on customer loyalty the study seeks to contribute to the scholarly conversation.

Keywords: Banking Sector, Brand Awareness, Corporate Reputation, Corporate Social

Responsibility, Customer Loyalty

1. Introduction

The banking sector is experiencing massive changes due to economic liberalisation in most

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economies. The emergence of more players into the sector has increased competition (Hafez,
2018; Pratihari and Uzma, 2018). Banks are faced with a mammoth task of offering better
services and introducing competitive products to satisfy and retain various types of customers.
The arrival of more banks is exerting tremendous pressure to the banking community on how
to handle customer expectations and changing demands (Arcand, PromTep, Brun &
Rajaobelina, 2017). Currently, banks depend on retaining existing customers than attracting
new ones (Pratihari &Uzma 2018; Saleem, Zahra, Ahmad, &Ismail 2016). The availability of
more players providing related products is giving customers the opportunity to switch service
providers depending on which banking institution is able to meet their expectations
(Makanyeza & Chikazhe, 2017).

Competition has reached a point where banks’ survival is now dependent on the improvement
of corporate social responsibility practices, brand awareness, firm reputation as well as
customer retention programmes. The major challenge is on how to retain customers and
increase the market share. Banks are expected to employ survival strategies that provide them
with a competitive advantage. In so doing, banks need to retain and reach more customers
through programmes like corporate social responsibility (Abratt & Russell, 1999;
Konalingam et al., 2017).

Despite the fact that the majority of banks are involved in programmes to do with customer
care, more effort is needed to ensure customer loyalty (Gurlek et al., 2017; Riasi, 2015). With
loyal customers, banks can maximise profits as loyal customers make repeat purchases.
Furthermore, loyal customers recommend the firm’s products and services to friends and give
organisations genuine suggestions (Harjoto & Salas, 2017). Banking professionals must
therefore continue to seek out most influential determinants of customer loyalty.

The marketing literature is awash with studies that have examined the relationship among
corporate social responsibility, brand awareness, corporate reputation and customer loyalty
(Amin et al., 2013; Greve, 2014; Hafeez & Muhammad 2012; Lee et al., 2017; Saleem et al.,
2016). Despite the effort by previous researchers to address the loyalty challenge within the
banking sector, no study has focussed on the mediation role of corporate social responsibility
on the effect of brand awareness and corporate reputation on customer loyalty. This study
contributes to the management’s body of knowledge by examining the mediation role of
corporate social responsibility on the effect of brand awareness and corporate reputation on
customer loyalty.

2. Literature Review

2.1 Customer Loyalty

Customer loyalty is understood as the customer’s predisposition and intention to buy from the
same company and this results from the view that the value received from the same firm is
superior than the value offered from alternatives (Berg, 2008; Gurlek et al., 2017; Hafez,
2018). Similarly, Paulssen, Roulet and Wilke (2014) added that customer loyalty is
determined by feelings that motivate a general attachment to the people, services or products
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of a company. Also, customer loyalty comprises psychological relationship centred on

behavioural element, based on aspects like the frequency of visits to a company (Arli &
Lasmono, 2010; Kocoglu and Kirmaci, 2012).

Customer loyalty is also understood to be a combination of consumers’ behaviour and

attitude (Akbari et al., 2019; Dick & Basu, 1994; Pratihari, & Uzma, 2018). Dick & Basu
(1994) defines attitudinal loyalty as the psychological and emotional state of the customer to
repurchase and to recommend products and services to other customers. Behavioural loyalty
is the customers’ behaviour to repurchase as a result of the liking of a particular product,
service or brand (Akbari et al., 2019). Attitudinal loyalty is used to comprehend how
customers feel about the firms’ brand and products or services. Behavioural loyalty measures
if customers are acting on their feelings of loyalty (Pratihari & Uzma, 2018). Dahlstrom et al.,
(2014) proclaimed that behavioural loyalty may be measured using transactional and sales
data. Therefore, organisations are encouraged to focus more on attitudinal and behavioural
loyalty as they both drive company success and sustainability (Jarvinen, 2014; Lee et al.,
2017). Moreover, customer loyalty benefits organisation in that loyal and satisfied customers
recommend products and services to others and continue to purchase from the same firm
(Akbari et al., 2019). If an organisation fails to pay attention to the loyalty concept, customers
are likely to defect to competitors that offer better products and services.

2.2 Brand Awareness

Brand of a product refers to intangible aspects like names, price, packaging and the image
portrayed within the market (Harjoto & Salas, 2017; Iglesias et al., 2011). Lee and Kotler
(2009) describes brand awareness as the differential effect that comes from consumers’
response to products and services that result from knowing the brand name. Additionally,
Arcand & PromTep (2016) described brand awareness as the level of customer perception of
a company. Furthermore, Alamro and Rowley (2011) explains a brand as customer’s opinions
on a service or product based from their own experience.

Brand awareness is vital to organisations especially when they launch new products (Gurlek
et al., 2017). Branding drives consumers to distinguish products for competing organisation
(Bloemer et al., 1998; Greve, 2014). If consumers enjoy the firm’s products and services,
repeat purchases are realised and market share is increased (Harjoto & Salas, 2017). Tingchi
et al. (2014) emphasised that a brand should provide assurance of worth that help consumers
in recognising a branded product much easier than a non-branded one. Brands measure a
potential consumer's ability to not only identify a brand image, but to also relate it with a
certain firm's service or product (Amini & Ahmadinejad, 2012). Brands are used for products
and service identification and to differentiate the firm’s products and service from those of
competitors (Greve, 2014). In this modern epoch, firms are undertaking marketing practices
such as brand awareness with the aim of putting themselves on the map and differentiating
themselves from competitors (Hafeez & Muhammad, 2012).

Brand awareness has gained popularity since it is the most prized possession any firm can

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own (Kocoglu & Kirmaci, 2012). Organisation should protect and enhance their brands such
that they gain competitive advantage (Anwar, Gulzar, Sohail & Akram, 2011). Organisations
are encouraged to put more effort towards the improvement of brand awareness as this is the
only way to grow business. Some organisations create brand awareness through giving back
to the community in which they operate. The brand knowledge is vital to an organisation as it
positively effect customers’ response to products, prices, communications, channels and other
marketing activity (Bloemer et al., 1998; Kocoglu & Kirmaci, 2012). Brand awareness may
be initiated by the firm’s involvement in activities like; hosting educational and social events,
being the trusted expert, sharing gratitude, organising service projects and being a helpful
friend (Davijani, Nouri & Horri, 2015). Therefore, corporate social responsibility plays an
important role in creating band awareness (Anwar et al, 2010; Davijani et al., 2015).

2.3 Corporate Reputation

Corporate reputation is defined as the impression made by customers about an organisation

(Sheita, 2019). The past actions and future predictions of the organisation determine its
corporate reputation (Dowling, 2004). Similarly, Walker (2010) claim that corporate
reputation has much to do with the overall evaluation in which an organisation held by its
customers based on its past actions and probability of its future conduct. Corporate reputation
is regarded as a general assessment in a customer’s mind towards a firm. Carroll (1999)
added that corporate reputation is a mental image which consumers have in mind towards a
firm. Corporate reputation is a result of an evaluation of feelings, attitudes and experiences
retrieved from customer's memory to create a corporate image towards a firm (Barnett et al.,
2006; Karem Kolkailah, Abou Aish & El‐Bassiouny 2012).

Corporate reputation is a vital component of the business that determine the kinds of
perceptions customers will have about its history, brand and its potential to survive in future
(Mattera et al., 2014). Organisations should ensure that they maintain good reputation so that
they gain value on the market and remain successful. Most firms rely on corporate reputation
to record their presence on the market. Customer preferences change as they associate with
companies with good corporate reputation (M'zungu, Bill & Miller, 2010). If companies
maintain good reputation, chances are high that services and products will perform well as
more customers would want to be associated with firms (Kumaradeepan, & Pathmini, 2017;
Hillenbrand & Kevin, 2007). Customers have a habit of extending their utmost support to
firms that show good corporate reputation during tough times. Therefore, corporate
reputation is influenced by the firm’s involvement in the community activities. Customers are
also loyal to companies with good reputation and this is shown by repeated purchases.
Mattera et al. (2014) maintain that corporate reputation and expectations affect customer
loyalty through the nature and quality of a company’s products and services. Corporate
reputation is an attitude that posively impacts on the behaviour and intentions affecting
customer satisfaction and loyalty (Dick & Basu, 1994). Carroll (1999) claims that corporate
reputation is derived from customer perceptions about the organisation’s capability and social
responsibility. Moreover, corporate reputation refers to the business’ capability in providing

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product and service offerings such as effective innovation and superior service quality, while
corporate social responsibility focuses more on the firm’s management of social issues.

2.4 Corporate Social Responsibility

Corporate social responsibility is described as how firms manage their business to come up
with overall positive impact on the community (Bloemer et al., 2014; Kramer & Porter, 2011;
Kouatli, 2018). Similarly, Adamson, Kok-Mun Chan & Donna Handford (2003) explain
corporate social responsibility as the obligations of the business to people within the society
or more specifically to those affected by the business policies and practices. The corporate
social responsibility depends on how businesses are sanctioned and promoted by their
community (Henrique & De Matos, 2015; Liu et al., 2014; Quazi, Amran & Nejati, 2016).
The society expect firms operating within their environment to be good corporate citizens.
Moreover, businesses have an obligation to act for the social good of the community (Arcand
& PromTep, 2016; Raizada, 2016). As such, businesses should not aim at making profits only,
but to play a helping role in finding solutions to problems that affect the society in which they
operate (Amin, 2016; Hustvedt and Bernard, 2010; Lai et al., 2010). Businesses operating
within a community are expected to be involved in developmental activities that improve the
infrastructure and the society’s welfare (Lee et al., 2017). Most businesses excel because they
plough back part of their proceeds to the society (Marin Ruiz & Rubio, 2009; Uduji &
Okolo-Obasi, 2019). Firms that fail to meet the society’s expectations also find it difficult to
attract and retain customers from the surrounding community (Aggarwal and Singh, 2019;
Cha, Abebe, & Dadanlar, 2019; Trini, & Salim, 2018). Thus, if corporates wish to be viable in
the long run, they should respond to needs of the society through involvement in
philanthropic programmes (Ahen & Amankwah-Amoah, 2018; Fatma, Khan, & Rahman,
2019). Moreover, businesses are citizens within a society, hence citizens have civic duties and
responsibilities which they must discharge voluntarily (Dimitropoulos & Vrondou, 2015;
Saleem et al., 2016). Caruana & Calleya (1998) stress that businesses have a huge pool of
resources like human resource, money, talents functional and professional expertise that
better position them to work for social goals.

3. Development of Research Hypotheses and Research Model

Previous studies confirm the presence of relationships among corporate social responsibility,
brand awareness and customer loyalty (Aggarwal and Singh, 2019; Arcand et al., 2017;
Arikan, 2016; Cha et al., 2019; Gurlek et al., 2017; Hea & Laib, 2014; Harjoto & Salas, 2017;
Lee et al., 2017). Choi & La (2013) examined corporate social responsibility and focussed on
related constructs such as customer loyalty, customer satisfaction and customer trust. The
study results indicate that corporate social responsibility impacts positively on customer
loyalty and customer trust. Similarly, Gurlek et al. (2017) investigated the relationship among
corporate image, corporate social responsibility and customer loyalty in a hotel setup.
Findings show that corporate social responsibility influences customer loyalty and corporate
image. Equally, Hea & Laib (2014) studied how corporate social responsibility affects brand
loyalty as well as brand image. The study results specify that consumers’ perceived that
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lawful and moral responsibilities improve brand loyalty through enhancing positive
functional and symbolic images which also improves customer loyalty. Lee et al. (2017)
investigated how corporate social responsibility impacts on customer loyalty and corporate
reputation. Results demonstrate that corporate social responsibility positively influences
customer loyalty and corporate reputation. However, there is missing evidence in the public
domain as regards the mediating role of corporate social responsibility on the effect of brand
awareness on customer loyalty, especially within the banking sector. Therefore, it is
hypothesised that,

H1: Corporate Social Responsibility mediates the effect of brand awareness on customer
loyalty

Literature is awash with evidence that there is a positive relationship among corporate social
responsibility, corporate reputation and customer loyalty (Abd-El-Salam et al., 2013; Ahen &
Amankwah-Amoah, 2018; Akbari et al., 2019; Hillenbrand & Kevin 2007; Lai et al., 2010;
Lee et al., 2017; Pratihari & Uzma, 2018; Tingchi et al. 2014). Abd-El-Salam et al. (2013)
explored the association among corporate reputation and image, customer satisfaction,
service quality and customer loyalty through a case analysis on one of the biggest Egyptian
company. The study results show significant relationships among all variables investigated.
Similarly, Lee et al. (2017) investigated how corporate social responsibility influences
corporate reputation and customer loyalty. The results confirmed that corporate social
responsibility undertakings have significant influence on corporate reputation and customer
loyalty. Additionally, it was established that corporate social responsibility activities have a
positive influence on brand image. Likewise, Lai et al. (2010) studied the effects of corporate
social responsibility on brand performance paying attention to the mediating effect of brand
loyalty and corporate reputation. The results show that corporate social responsibility
positively impacts on the relationship among corporate reputation, loyalty, industrial brand
equity and brand performance. Thus, the mediation role of corporate social responsibility on
the effect of corporate reputation on customer loyalty is not documented in the public domain.
It is therefore hypothesised that,

H2: Corporate social responsibility mediates the effect of corporate reputation on customer
loyalty

Considering the preceding hypotheses, the following research model is proposed; -

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Brand
Awareness

H1

Corporate Social Customer

Responsibility
Loyalty

H2

Corporate
Reputation

Figure 1. Research model

4. Research Methodology

The research methodology focuses on questionnaire design and measures, sampling and data
collection methods.

4.1 Sample and Data Collection

The proposed model for this study was tested in the context of the banking sector. It is worth
revealing that the banking sector in Zimbabwe has become proactively engaged in corporate
social responsibility initiatives and investing significantly in various programmes.

Survey data were collected through personal survey from bank customers in Chinhoyi,
Zimbabwe in March 2020. Chinhoyi was chosen because of its representation for many banks
that operate within Zimbabwe. Questionnaires were personally distributed to customers who
visited their banks during the period under which data collection was in process. Out of the
450 randomly distributed questionnaires, 405 were returned and usable. The study opted for a
larger sample so as to cater for more customers from various banks. Response rate was 90%,

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with males contributing 57% of the respondents and females constituting 43%. The age for
the respondents ranged from 16 to 46 and above. Customers aged between 16 to 35 were
more than all other ranges with 54%, followed by those between 36 and 45 who constituted
31%. The remainder (15%) were above 46 years. The time of residence in the community of
which respondents were able to deal with banks within the area ranged from 5 to 21 years and
above. The majority (75%) of the bank customers had stayed within the same community for
more than 16 years. This information was important for the study as it indicate that
respondents had experience on banks’ involvement within the community.

4.2 Questionnaire Design and Measures

A questionnaire survey was used to obtain measures of corporate social responsibility (CSR),
customer loyalty (CL), corporate reputation (CR) and brand awareness (BRA). All items
under each concept were measured using a Likert scale that ranged from 1 (Strongly disagree)
to 5 (Strongly agree). Items under each construct were borrowed from previous related
studies (Encinas Orozco et al., 2017; Chandra et al. 2018; Makanyeza & Chikazhe, 2017;
Gurlek et al., 2017; Lee et al., 2017; Lai et al., 2010; Ng. 2018) and they were modified to
suit the current study. The items for CSR, CL, CR and BRA focused on perceptions of
banking customers in Zimbabwe.

5. Analysis and Results

5.1 Scale Validation

Measurement model was validated before the structural model was performed. Thus,
convergent validity, exploratory factor analysis and discriminant validity were performed
before structural equation modelling was conducted. Data analysis was conducted using
SPSS version 21 and AMOS version 21. Kaiser-Meyer Olkin (KMO) measure and Bartlett’s
Test of Sphericity were used to determine the sample adequacy. Results are presented in
Table 1 below:

Table 1. KMO and Bartlett's Test

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .835

Bartlett's Test of Sphericity Approx. Chi-Square 14985.127

df 490

Sig. .000

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The results in Table 1 confirm that it was possible to perform exploratory factor analysis
since they satisfied Minimum conditions. Results met minimum conditions as recommended
that Bartlett’s Test of Sphericity value is significant at p < 0.000 and that Kaiser-Meyer-Olkin
value must be above 0.6 (Bartlett, 1954; Kaiser, 1974). Factor analysis was performed
through Varimax Rotation and it converged in 9 iterations. The results indicate that total
variance explained by the data was 95.664%.

Convergent validity was evaluated using the measurement model fit indices, standardised
factor loadings, critical ratios, reliability and average variance extracted (AVE). The study
results submit that convergent validity conditions were satisfied. The measurement model fit
indices measured are presented in Table 2 below:

Table 2. Measurement model fit indices

Fit Measurement Recommended Source

index model level

CMIN/DF (χ2/DF), 2.452 <5 Hair et al. (2006),

Bagozzi & Yi (1988),

GFI 0.925 >0.900
McDonald & Ho (2002),
AGFI 0.921 >0.900
Kline (2015),

NFI 0.912 >0.900 Fornell & Larcker (1981),

Reisinger & Mavondo, 2007,

TLI 0.921 >0.900
Hooper et al., 2008
CFI 0.919 >0.900

RMSEA 0.035 <0.080

As stated in Table 3, all calculated figures were above the commended levels (Hair et al.,
2006). All constructs had composite reliabilities (CRel) and Cronbach’s alpha (α) of above
0.6 (McDonald & Ho., 2002). All items indicate standardised factor loadings (λ) above the
0.6 (Hair et al., 2006). Critical ratios were big enough and significant at p<0.001. All
individual item reliabilities (IIRs) were at least 0.5 (Kline, 2015). All constructs had averages
larger than 0.5 as shown in Table 4 (Hooper et al., 2008).

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Table 3. Standardised Factor Loadings (λ), Individual Item Reliabilities (IIRs), Critical ratios
(CRs), Cronbach’s alpha (α) and Composite Reliability (CRel)

Constructs Items λ IIR CR α CRel

Corporate CSR1 .714 .658 - .901 .975

social
CSR2 .798 .736 22.745***
responsibility
CSR3 .896 .885 14.285***

CSR4 .874 .878 15.675***

Customer CL1 .756 .679 - .895 .925

loyalty
CL2 .821 .774 14.895***

CL3 .863 .879 23.789***

CL4 .814 .875 14.645***

CL5 .874 .798 15.231***

Corporate CR1 .865 .741 - .875 .942

reputation
CR2 .854 .709 16.465***

CR3 .896 .708 17.002***

CR4 .852 .702 34.255***

CR5 .795 .745 13.995***

Brand BRA1 .745 .789 - .862 .884

awareness
BRA2 .759 .697 16.744***

BRA3 .847 .778 15.243***

BRA4 .879 .788 12.322***

BRA5 .798 .792 21.213***

Note: - CR is fixed; *** p < 0.001

5.2 Discriminant Validity

Discriminant validity was obtained by confirming that all averages were higher than their
corresponding squared inter construct correlations (SICCs) (Hair et al., 2006). Table 4 below,

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indicate that minimum conditions for discriminant validity were fulfilled.

Table 4. Mean (M), standard deviation (SD), AVE and SICC

Construct Mean Standard CSR CL CR BRA

Deviation

Corporate social responsibility 4.214 1.254 .896

Customer loyalty 5.006 1.012 .433 .784

Corporate reputation 4.645 1.214 .338 .488 .765

Brand awareness 4.824 1.402 .512 .430 .490 .835

Note: Diagonal elements in bold represent AVEs

5.3 Hypotheses Tests

This study tested hypotheses H1 and H2 using Structural Equation Modelling in AMOS.
Structural modelling technique was used to test hypotheses because it is able to decide
relationships while establishing whether or not there is a general fit between the research
model and observed data (Hooper et al., 2008).

The results in Table 5 show that fit indices of the structural model were satisfactory as shown
below:

Table 5. Structural model fit indices

Fit Measurement Recommended Source

index model level

CMIN/DF (χ2/DF), 2.536 <5 Fornell & Larcker (1981),

GFI 0.915 >0.900 Hooper et al. (2008)

Hair et al. (2006),
AGFI 0.927 >0.900
Kline (2015),
NFI 0.902 >0.900 Bagozzi & Yi (1988),
TLI 0.910 >0.900 McDonald & Ho (2002),

CFI 0.922 >0.900 Reisinger & Mavondo, (2007)

RMSEA 0.038 <0.080

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As summarised in Table 5, all fit indices for the research model were satisfactory. Results for
hypotheses tests are presented in Table 6 below:

Table 6. Hypothesis test results

Hypo Path Path Description Comments

Coefficient
thesis

H1 BRA CSR CL 0.314*** CSR partially mediates the effect of BRA on CL H1 is supported

H2 CR CRS CL 0.439*** CSR partially mediates the effect of CR on CL H2 is supported

Note: ***Significant at p<0.001

Results in Table 6 show that corporate social responsibility partially mediates the effect of
both brand awareness and corporate reputation on customer loyalty. Thus, both H 1 and H2
were supported.

6. Discussion and Implications

6.1 Theoretical Implications

Regardless of previous studies that have examined the relationship among corporate social
responsibility, brand awareness, corporate reputation and customer loyalty within the banking
sector (Arikan, 2016; Bloemer et al., 2014; Gurlek et al., 2017; Hea & Laib, 2014; Kramer &
Porter, 2011; Kouatli, 2018; Lee et al., 2017) empirical evidence is still dividend. The current
study provides evidence that corporate social responsibility mediates the effect of both brand
awareness and corporate reputation on customer loyalty within the banking sector.

The study established that corporate social responsibility partially mediates the effect of
brand awareness on customer loyalty. The results imply that corporate social responsibility
plays a central role on the relationship between brand awareness and customer loyalty. Thus,
banks should improve their involvement in sponsoring and funding community programmes
if they are to market their brands to the same community. Customers familiarise with brands,
products and service from organisations that plough back proceeds to the community.
Through corporate social responsibility practice, banks are able to grow their market share
and grow business. Competitive advantage is one other benefit for banks that are involved in
corporate social responsibility since customers are likely to choose their brands ahead of
those for competitors. Results of the study proved that brand awareness is enhanced through

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corporate social responsibility activities which results in the growth of a strong base of loyal
customers.

The results of the study also approved that corporate social responsibility partially mediates
the effect of corporate reputation on customer loyalty. Results imply that corporate social
responsibility plays a critical role on the relationship between corporate reputation and
customer loyalty. Banks should strive to maintain a good name to customers as this is one
way to improve customer loyalty. Customers are loyal to service providers that are reputable.
Corporate social responsibility plays an important role as it preaches more about the
company’s name. Customers get to know most organisations and become loyal to them
through philanthropic activities carried out within the community. If banks need to gain
reputation, they should improve their image through ethical business conduct within the
community. Banks should show that they care for the community through sponsoring
programmes to do with the welfare of the people within the society. Banks should improve
their reputation by being sensitive to programmes that promote a health environment for the
community. Corporate social responsibility activities like sponsorship and donations may
improve banks’ reputation resulting in increased customer loyalty. Thus, the findings of the
current study contribute to management body of knowledge.

6.2 Practical Implications

It is urgent however in the Zimbabwean context that the banking sector understand that they
have a social responsibility to undertake so as to improve customer loyalty. Banks should
invite the community authorities like local authorities to provide them with their yearly plans
so that bank management selects programmes to partner through sponsorships and donations.
In doing so, banks will be able to promote their brands as well as enhance company
reputation. Additionally, corporate social responsibility-based multi-stakeholder
conglomerates may be rewarding in economic, social and environmental challenges in
Zimbabwe and other developing economies. Thus, the brand awareness and corporate
reputation framework of any bank must exhibit some degree of good corporate social
responsibility so as to influence customer loyalty. Besides a short history of corporate social
responsibility in Zimbabwe, banks should strive to improve community involvement as this is
one way to reach new customers

7. Further Research Implications

The current study used perceptions of bank customers only. Future studies intending to
consider topics related to the mediating role of corporate social responsibility on the effect of
brand awareness and corporate reputation on customer loyalty may consider bank employee
perceptions. Future studies may also use demographic data like gender, age, employment type
and income as moderators of the current study relationships. This may improve results of the
current study.

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