PHILANTHROPIC RESPONSIBILITY ON CUSTOMERS LOYALTY AMONG FOOD AND BEVERAGE COMPANIES IN NIGERIA

ABSTRACT Corporate Social Responsibility is significant in creating competitive advantage to companies, which could lead to reputation building and increased customers loyalty of that company. The influence of Corporate Social Responsibility (CSR) activities on overall business success has been interpreted differently in a number of studies. Research on how philanthropic corporate social responsibility (CSR) affects consumer loyalty in Nigeria's food and beverage sector is lacking. Therefore, this study examined the relative effect of philanthropic responsibility and customer loyalty in selected food and beverages companies in Lagos state, Nigeria. Using a survey research approach, information was gathered from 500 individual consumers as a sample using closed-ended, structured questionnaires. With the aid of IBM SPSS (Version 25.0), multiple regression analysis was used to examine the hypotheses. The results showed that philanthropic responsibility significantly increases consumer loyalty (R2=0.695, pvalue=0.00<0.05), and also on customer buying behavior (R2=0.587, p-value=0.00<0.05). The study concluded that philanthropic responsibility has significant and positive effect on customer loyalty as well as on the buying behavior of the customers of food and beverage companies. The study therefore, recommends that managers of food and beverages companies should promote philanthropic activities in their operation, with particular reference to community development projects, so that customer loyalty can be fostered among food and beverage Companies.

1 28 Jun, 2024

pg: 13

JBMIC PORTAL SYSTEM

Contri. 3+