Browse > Article
http://dx.doi.org/10.14400/JDC.2020.18.8.185

The Effect of Social Responsibility Activities of Insurance Company on Consumer Based Brand Equity and Intention to Pay Premium Price : Moderating Effect of the Level of SNS Usage  

Cheun, Bu-Gi (Dept. of Convergence Industry, Seoul Venture University)
Park, Hyeon-Suk (Dept. of Convergence Industry, Seoul Venture University)
Publication Information
Journal of Digital Convergence / v.18, no.8, 2020 , pp. 185-199 More about this Journal
Abstract
This study examined the effects of insurance company's CSR activities on customer-based brand assets and customers' intention to pay premium prices in order to identify the possibility of CSR activities as an insurance company's differentiated marketing strategies. Throughout collecting 510 surveys, this study has proved that economic and charitable activities had a effect on customer-based brand assets, also economic and environmental activities had a effect on intention to pay premium prices. In addition, the mediating role of the customer-based brand asset between economic and charitable activities and intention to pay premiums was proved. Lastly, it was confirmed that the level of SNS usage moderates the relationship between economic activities and customer-based brand assets. Based on the results, this study provides insurance companies with an effective marketing strategy of the CSR program.
Keywords
CSR Activity; Consumer Based Brand Equity; Intention to Pay Premium Price; SNS Usage; Insurance;
Citations & Related Records
Times Cited By KSCI : 6  (Citation Analysis)
연도 인용수 순위
1 G. Christodoulides & L. D. Chernatony. (2010). Consumer-Based Brand Equity Conceptualization and Measurement: A Literature Review. International Journal of Research in Marketing, 52(1), 43-66. DOI: 10.2501/S1470785310201053
2 W. Lassar, B. Mittal & A. Sharma. (1995). Measuring Customer-Based Brand Equity. Journal of Consumer Marketing, 12(4), 11-19. DOI: 10.1108/07363769510095270   DOI
3 B. H. Yoo & N. Donthu. (2001). Developing and Validating a Multidimensional Consumer-Based Brand Equity Scale. Journal of Business Research, 52(1), 1-14. DOI: 10.1016/S0148-2963(99)00098-3   DOI
4 K. L. Keller. (2003). Strategic Brand Management, Upper Saddle River, NJ: Prentice Hall.
5 K. L. Keller. (2012). Strategic Brand Management: Building, Measuring, and Managing Brand Equity, UK: Pearson Education.
6 J. M. Yoo. (2017). The Relationship among CSR, CBBE(Custmer Based Brand Equity), and Firms Financial Performance: Focusing on the Mediating Role of CBBE. Korean Journal of Marketing, 32(2), 27-54. DOI: 10.15830/kmr.2017.32.2.27   DOI
7 M. Fatma, Z. Rahman & I. Khan. (2015). Building Company Reputation and Brand Equity through CSR: the Mediating Role of Trust. International Journal Of Bank Marketing, 33(6), 840-856. DOI: 10.1108/IJBM-11-2014-0166   DOI
8 J. Singh, O. Iglesias & J. Batista-Foguet. (2012). Does Having an Ethical Brand Matter? The Influence of Consumer Perceived Ethicality on Trust, Affect and Loyalty. Journal of Business Ethics, 111, 541-549. DOI: 10.1007/s10551-012-1216-7   DOI
9 A. Dahlsrud. (2008). How Corporate Social Responsibility Is Defined: An Analysis of 37 Definitions. Corporate Social Responsibility and Environmental Management, 15(1), 1-13. DOI: 10.1002/csr.132   DOI
10 S. Andaleeb & C. Conway. (2006). Customer Satisfaction in the Restaurant Industry: An Examination of the Transaction-Specific Model. Journal of Services Marketing, 20(1), 3-11. DOI: 10.1108/08876040610646536   DOI
11 S. Sen & C. B. Bhattacharya. (2001). Does Doing Good Always Lead to Doing Better? Consumer Reactions to Corporate Social Responsibility. Journal of Marketing Research, 38(2), 225-243. DOI: 10.1509/jmkr.38.2.225.18838   DOI
12 R. D. Buzzell & B. T. Gale. (1987). The PIMS Principles: Linking Strategy to Performance, New York: The Free Press.
13 I. S. Kim & E. J. Kim. (1999). A Study on Relationship between Price Primium and Perceived Quality. Journal of Industrial Economics and Business, 12(6), 13-30.
14 J. E. Choi, I. Kim & S. J. Hwang. (2014). A Study on Brand Familiarity in Outdoor Sports Brand and Consumer Reaction by Type of Ads. A Journal of Brand Design Association of Korea, 12(3), 33-52.   DOI
15 C. G. Mieres, A. M. D. Martin & J. A. T. Gutierrez. (2006). Antecedents of the Difference in Perceived Risk between Store Brands and National Brands. European Journal of Marketing, 40(1/2), 61-82. DOI: 10.1108/03090560610637310   DOI
16 R. Sethuraman & C. Cole. (1999). Factors Influencing the Price Premiums that Consumers Pay for National Brands over Store Brands. Journal of Product & Brand Management, 8(4), 340-351. DOI: 10.1108/10610429910284319   DOI
17 R. Trudel & J. Cotte. (2009). Does It Pay to Be Good?. MIT Sloan Management Review, 50(2), 61-68.
18 M. K. Kim. (2012). Social Media Research(eds.), Seoul: Communication Books.
19 S. T. Park, K. H. Kim & Li Guozhing. (2013). The Effects of Social Media Utilization on Country Image and Purchase Intention. Journal of Digital Convergence, 11(3), 127-138. DOI: 10.14400/JDPM.2013.11.3.127   DOI
20 J. Y. Lee. (2013). The Current Situation and Usage of Social Media Services: Focusing on Social Network Services, KISDI Report. 25(9), 45-65.
21 X. Luo & C. B. Bhattacharya. (2006). Corporate Social Responsibility, Customer Satisfaction, and Market Value. Journal of Marketing, 74(4), 1-18. DOI: 10.1509/mkg.70.4.001   DOI
22 Y. J. Jung. (2018). CSR in 2018 Social Value' Storm is Coming. http://futurechosun.com/archives/30570.
23 T. J. Brown & P. A. Dacin. (1997). The Company and the Product: Corporate Associations and Consumer Product Responses. Journal of Marketing, 61(1), 68-84. DOI: 10.1177/002224299706100106   DOI
24 S. Du, C. B. Bhattacharya & S. Sen. (2007). Reaping Relational Rewards from Corporate Social Responsibility: The Role of Competitive Positioning. International Journal of Research in Marketing, 24(3), 224-241. DOI: 10.1016/j.ijresmar.2007.01.001   DOI
25 H. J. Lee & J. C. Park. (2009). The Effects of Corporate Social Responsibility Activities on Product and Corporate Evaluation: The Mediating Role of Trust. Journal of Korean Marketing Association, 24(1), 231-250.
26 S. G. Park. (2016). The Effect of Social Enterprise Image on Consumer Attitude and Willingness to Pay Premium Price: Mediating Roles of Reciprocity and Trust, Ph.D Dissertation, Sejong University, Seoul, Korea.
27 J. S. Lee. (2017). The Effects of Participation Motivation of Corporate Social Responsibility Using Social Media on Organization-Public Relationship and Brand Loyalty. Journal of the Korea Industrial Information Systems Research, 22(1), 139-159 DOI: 10.9723/jksiis.2017.22.1.139   DOI
28 J. S. Lee. (2018). A New Perspective on Corporate Social Responsibility using Social Media : The Effects of Authenticity and Fit on Trust and Relationship Satisfaction. The Journal of Internet Electronic Commerce Research, 18(1), 51-77.
29 S. M. Ha. (2013). The Study on the Effect of Enterprises' SNS Characteristics on the Attitudes towards Brands: Upon the Types of SNS. Master Dissertation, Kyunghee University, Seoul, Korea.
30 N. Arora & T. Y. Henderson. (2007). Embedded Premium Promotion: Why It Works and How to Make It More Effective. Marketing Science, 26(4), 514-531. DOI: 10.1287/mksc.1060.0247   DOI
31 S. Hoeffler & K. L. Keller. (2002). Building Brand Equity through Corporate Societal Marketing. Journal of Public Policy & Marketing, 21(1), 78-89. DOI: 10.1509/jppm.21.1.78.17600   DOI
32 I. Maignan, O. C. Ferrell & G. T. M. Hult. (1999). Corporate Citizenship: Cultural Antecedents and Business Benefits. Journal of the Academy of Marketing Science, 27(4), 455-469. DOI: 10.1177/0092070399274005   DOI
33 H. Lee, T. Park, H. K. Moon, Y. Yang & C. Kim. (2009). Corporate Philanthropy, Attitude towards Corporations, and Purchase Intentions: A South Korea Study. Journal of Business Research, 62(10), 939-946. DOI: 10.1016/j.jbusres.2008.08.007   DOI
34 S. Kim. (2019). The Process Model of Corporate Social Responsibility(CSR) Communication: CSR Communication and Its Relationship with Consumers' CSR Knowledge, Trust, and Corporate Reputation Perception. Journal of Business Ethics, 154(4), 1143-1159. DOI: 10.1007/s10551-017-3433-6   DOI
35 F. Muniz, F. Guzmán, A. K. Paswan & H. J. Crawford. (2019). The Immediate Effect of Corporate Social Responsibility on Consumer-Based Brand Equity. Journal of Product & Brand Management, 28(7), 864-879. DOI: 10.1108/JPBM-09-2018-2016   DOI
36 K. Masuda & S. Kushiro. (2018). Influence of Brand Equity on the Price Premium for Private Labels in Fresh Produce: A Contingent Valuation Survey. Agribusiness, 34(2), 338-350. DOI: 10.1002/agr.21498   DOI
37 J. Yang, K. Basile & O. Letourneau. (2020). The Impact of Social Media Platform Selection on Effectively Communicating about Corporate Social Responsibility. Journal of Marketing Communications, 26(1), 65-87. DOI: 10.1080/13527266.2018.1500932   DOI
38 Z. A. Mubarak, A. B. Hamed, & M. A. Mubarak (2019). Impact of Corporate Social Responsibility on Bank's Corporate Image. Social Responsibility Journal, 15(5), 710-722. DOI: 10.1108/SRJ-01-2018-0015   DOI
39 Joreskog, K. G., & Sorbom, D. (1989). LISREL 7: A Guide to the Program and Applications. Chicago, IL: SPSS Inc.
40 Arbuckle, J., & Wothke, W. (1999). AMOS 4.0 User's Reference Guide. Chicago; Smallwaters Corp.
41 S. H. Hong. (2000). The Criteria for Selecting Appropriate Fit Indices in Structural Equation Modeling and Their Rationales, Korean Journal of Clinical Psychology, 19(1), 161-177.
42 K. Davis & R. L. Blomstrom. (1975). Business and Society: Environment and Responsbility, New York: McGraw-Hill.
43 F. F. Reichheld. (1996). The Loyalty Effect, The Hidden Force Behind Growth, Profits, & Lasting Value, Boston: Bain & Company, IncRoderick. DOI: 10.5465/ame.1996.9603293227
44 T. A. Ahn & B. G. Park. (2017). The Effects of Corporate Social Responsibility on Customer Satisfaction and Customer Citizenship Behavior: Mediating Effects of Company Image and CSV. Journal of Digital Convergence, 15(4), 223-231. DOI: 10.14400/JDC.2017.15.4.223   DOI
45 S. W. Nam. (2016). The Empirical Study on CSR Activity of Insurance Company and Consumer's Trust in Korea. The Journal of Risk Management, 27(1), 33-65.   DOI
46 L. A. Mohr & D. J. Webb. (2005). The Effects of Corporate Social Responsibility and Price on Consumer Responses. Journal of Consumer Affairs, 39(1), 121-147. DOI: 10.1111/j.1745-6606.2005.00006.x   DOI
47 D. H. Jung & J. H. Sung. (2019). A Study on CSR Types of Cosmetic Companies to Gain Customer Loyalty of Product Brand. Journal of the Korea Contents Association, 19(12), 184-192. DOI: 10.5392/KCA.2019.19.12.184   DOI
48 H. R. Bowen. (1953). Social Responsibilities of the Businessman, New York: Harper.
49 McWilliams, A. & Siegel, D. (2001). Corporate Social Responsibility: A Theory of the Firm Perspective. The Academy of Management Review, 26, 117-127. DOI: 10.5465/amr.2001.4011987   DOI
50 S. J. Lee, J. W. Jung & H. J. Bang. (2011). The Effects of Endorsers in the CSR Advertising. Advertising Research, 88, 223-247.
51 D. Aaker. (1991). Managing Brand Equity: Capitalizing On The Value Of A Brand Name, New York: Free Press. DOI: 10.1177/002224299205600211
52 A. B. Carroll. (1991). The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders. Business Horizons, 34(4), 39-48.   DOI
53 ISO (2010). International Organization for Standardization, ISO 26000.
54 K. L. Keller.(1993). Conceptualizing, Measuring & Managing Customer Based Brand Equity. Journal of Marketing, 57(1), 1-22. DOI: 10.1177/002224299305700101   DOI
55 P. H. Farquhar. (1989). Managing Brand Equity. Marketing research, 1(3). 24-33.
56 K. B. Monroe. (1976). The Influence of Price Differences and Brand Familiarity on Brand Preferences. Journal of Consumer Research, 3(1), 42-49. DOI: 10.1086/208649   DOI
57 D. R. Belen, V. Rodolfo & I. Victor. (2001). The Effects of Brand Associations on Consumer Response. Journal of Consumer Marketing, 18(5), 410-425. DOI: 10.1108/07363760110398808   DOI
58 R. Sethuraman. (2000). What Makes Consumers Pay More for National Brands than for Store Brands? Image or Quality? Review of Marketing Science, 318(1), 1-40.
59 J. W. Alba & J. W. Hutchinson. (1987). Dimensions of Consumer Expertise. Journal of Consumer Research, 13(4), 411-454. DOI: 10.1086/209080   DOI
60 M. J. Choi, S. C. Yang & K. S. Kim. (2009). The Internet Social Media and Journalism. Korea Press Foundation.
61 J. Graafland, B. Van de Ven & N. Stoffele. (2004). Strategies and Instruments for Organising CSR by Small and Large Business in the Netherlands. Journal of Business Ethics, 47(1), 45-60. DOI: 10.1023/A:1026240912016   DOI
62 H. S. Lee & J. H. Lim. (2013). Structural Equation Model Analysis and AMOS 20.0, Seoul: Jibhyeonjae.
63 S. W. Yoo. (2019). A Study on the Relationship between Corporate Social Responsibility, Trust, Distrust and Reputation. Journal of Digital Convergence, 17(3), 93-106. DOI: 10.14400/JDC.2019.17.3.093   DOI
64 N G. Park. (2014). A Study on the Effect of the Corporate Social Responsibility Activities on Brand Equity and Purchase Intention: Focused on Moderating Effect of the Customer's Mobile Communication Service Quality. Journal of Digital Convergence, 12(12), 189-202. DOI: 10.14400/JDC.2014.12.12.189   DOI
65 J. Gerlach, P. Buxmann, & T, Dinev. (2019). They're All the Same!" Stereotypical Thinking and Systematic Errors in Users' Privacy-Related Judgments About Online Services. Journal of the Association for Information Systems, 20(6), 4. DOI: 10.17705/1.jais.00551
66 J. A. Aragon-Correa, N. Hurtado-Torres, S. Sharma & J. V. Garcia-Morales. (2008). Environmental Strategy and Performance in Small Firms; A Resource-Based Perspective. Journal of Environmental Management, 86(1), 88-103. DOI: 10.1016/j.jenvman.2006.11.022   DOI
67 S. Castaldo, F. Perrini, N. Misani & A. Tencati. (2009). The Missing Link between Corporate Social Responsibility and Consumer Trust: The Case of Fair Trade Products. Journal of Business Ethics, 84(1), 1-15. DOI: 10.1007/s10551-008-9669-4   DOI
68 J. P. Woo. (2012). Professor Woo Jong-Pil's Concept and Understanding of Structural Equation Model, Seoul: Hannarae.