Is a Bank expected to play the role of a Non-Profit Organization? How do its stakeholders feel about it?

Christiana Aristotelous and Marlen Demetriou Martoudi

No 53, Apas Papers from Academic Public Administration Studies Archive - APAS

Abstract: Corporate Social Responsibility (CSR) is faced as an opportunity for Brand Equity and there are many companies which invest a considerable percentage of their budget on different CSR activities in order to enhance their image. A very popular CSR strategy is Cause-Related Marketing (CRM) according to which the profit-making companies form strategic partnerships with non-profit organizations for mutual benefits. One of the most dynamic corporations in Cyprus in terms of CSR as well as CRM strategies is the Bank of Cyprus which has build a strong partnership with the Cyprus Anti-Cancer Society. In this paper, the research findings of a survey among 75 customers of the Bank are presented, indicating the positive effects of the Bank's Cause Related Marketing strategy on the most important market stakeholders of the Bank; its customers.

Keywords: Corporate Social Responsibility (CSR); Cause Related Marketing (CRM); Non-profit Organizations; Bank of Cyprus (BOC). (search for similar items in EconPapers)
Date: 2010-05-13
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