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Building Brand Reputation and Fostering Customer Loyalty Through ESG Practices: A Strategic Imperative for Competitive Advantage
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Author(s): Shreyanshu Singh (Babu Banarasi Das University, Lucknow, India), Rinki Verma (Babu Banarsi Das University, Lucknow, India), Afeefa Fatima (Babu Banarsi Das University, Lucknow, India)and Manoj Kumar (Shri Ramswaroop Memorial University, Barabanki, India)
Copyright: 2024
Pages: 29
Source title:
ESG Frameworks for Sustainable Business Practices
Source Author(s)/Editor(s): Biju Ajithakumari Vijayappan Nair (University of Kerala, India), Glenn Muschert (Khalifa University of Science and Technology, UAE)and Ambili Jayachandran (University of Kerala, India)
DOI: 10.4018/979-8-3693-3880-3.ch012
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Abstract
This study investigates the intricate relationship between Environmental, Social, and Governance (ESG) practices and their influence on brand reputation and customer loyalty, within the goal of achieving competitive advantage. Employing a quantitative research methodology, this study utilizes a survey to gather insights from consumers regarding their perceptions of ESG initiatives and loyalty to sustainable brands. Through statistical analyses, including regression analysis, this paper furnishes empirical evidence of the strategic importance of ESG practices in bolstering brand reputation and nurturing customer loyalty. Additionally, this research explores challenges and opportunities in the adoption and implementation of ESG practices, shedding light on complexities faced by organizations. By elucidating the nexus between ESG initiatives and brand loyalty, this study contributes to the literature on sustainable business strategies and provides insights for businesses in a competitive and socially conscious marketplace.
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