Sustainable Businesses Speak to the Heart of Consumers: Looking at Sustainability with a Marketing Lens to Reap Banking Consumers’ Loyalty

Naveed Ahmad, Asif Mahmood, Antonio Ariza-Montes, Heesup Han, Felipe Hernández-Perlines, Luis Araya-Castillo and Miklas Scholz
Additional contact information
Naveed Ahmad: Faculty of Management Studies, University of Central Punjab, Lahore 54000, Pakistan
Asif Mahmood: Department of Business Studies, Namal Institute, Mianwali 42250, Pakistan
Antonio Ariza-Montes: Social Matters Research Group, Universidad Loyola Andalucía, C/Escritor Castilla Aguayo, 4 14004 Córdoba, Spain
Heesup Han: College of Hospitality and Tourism Management, Sejong University, 98 Gunja-Dong, Gwanjin-Gu, Seoul 143-747, Korea
Felipe Hernández-Perlines: Department of Business Administration, University of Castilla-La Mancha, 45071 Toledo, Spain
Luis Araya-Castillo: Facultad de Economía y Negocios, Universidad Andrés Bello, Santiago de Chile 7591538, Chile
Miklas Scholz: Division of Water Resources Engineering, Department of Building and Environmental Technology, Faculty of Engineering, Lund University, P.O. Box 118, 221 00 Lund, Sweden

Sustainability, 2021, vol. 13, issue 7, 1-16

Abstract: Achieving consumer loyalty will remain a prime objective of every business in the current volatile, uncertain, complex and ambiguous environment (VUCA), which demands some out-of-the-box thinking on the part of policymakers to sustain the competitive advantage. Sustainability has been emerging as a “new normal” for all industries of the present era, which forces all sectors to incorporate it into their business operations. There have been studies on the relationship between sustainability and consumer loyalty, but these studies are inconclusive, further establishing the importance of more research in this area. In this frame of reference, the present research objective is to test the dimensional impact of corporate social responsibility (CSR) activities (economic, environmental, social) on banking consumers’ loyalty in the context of Pakistan. The data were collected from different bank account holders, which were then analyzed through the structural equation modeling (SEM) technique in AMOS. The results revealed that all three dimensions of CSR positively relate to consumer loyalty. The banking industry policymakers can benefit from the findings of the present study to understand sustainability from the lens of marketing to drive a higher level of consumer loyalty.

Keywords: corporate social responsibility; consumer loyalty; bank; sustainability; brand loyalty (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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