Amr Abdel Aziz
The Importance of Corporate Social Performance in Developing Brand Equity for Place Branding in Egypt: Investors’ Perspective of Retail Banks
Branding issues are becoming increasingly complex and Corporate Social Performance (CSP) is growing in importance for both companies and customers. Customers perceive brands as a promise that should be kept while CSP implicitly is about keeping a promise between companies and their societies. In place marketing, the place product must be adapted to fit the needs of place customers. The overall targets of a place can be reached only when this task has been fulfilled. Each place should define and communicate its special features and competitive advantages effectively. Proponents of CSP advise companies to proactively acknowledge the interests of stakeholders and integrate their voice in corporate decisions. This study focuses on the relationship between CSP measures and place branding through enhancing brand equity. The study aims at filling this literature gap in a Middle East context, namely Egypt. Survey-based methodology was followed from two points of view. From bankers’ point of view to measure CSP and from investors’ point of view to measure brand equity of two Egyptian-based retail banks which are listed in the CASE (Cairo and Alexandria Stock Exchange). A total of two hundred and twenty self-administered surveys were distributed among bankers and investors of the two retail banks. Results yield useful insights to both academics, and corporate and brand practitioners about the importance of synthesizing brand equity of a place with CSP in the banking sector.