Exploring the Link between Corporate Social Responsibility (CSR) and Customer Loyalty (CL) in the Funeral Assurance Industry in Zimbabwe: A Qualitative Analysis
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 06
Abstract
This study explored the link between Corporate Social Responsibility (CSR) and Customer Loyalty (CL) in the Funeral Assurance Industry in Zimbabwe. Using a qualitative research methodology, the study examined the impact of Nyaradzo Life Assurance (Pvt) Ltd Company's CSR initiatives on recipient communities and individuals, and how these initiatives influenced CL. Data were collected from 60 participants using interviews and focus groups. The study found that Nyaradzo's CSR initiatives, including community development projects, education support to vulnerable groups, and environmental sustainability programs, were perceived positively by participants who were also the company's clients. The tree donation initiative, in particular, created a long-lasting emotional connection between clients and Nyaradzo, and this initiative was contributing towards the development of CL shown by the clients. The study also found that CSR initiatives that aligned with the customer's values and expectations, as determined by their contextual realities, were the ones that were more likely to influenced CL. Overall, the study highlighted the importance of CSR in developing CL in the funeral assurance industry in Zimbabwe, and the need for companies not only to align their CSR initiatives with the values and expectations of their clients but also to involve their clients in some their CSR initiatives.
Authors and Affiliations
Christopher Zishiri, Rutendo Agnes Chindondondo
Keywords
Related Articles
- EP ID EP727176
- DOI 10.47191/jefms/v6-i6-54
- Views 55
- Downloads 0
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