- Log In/Sign Up
- P-ISSN1738-3110
- E-ISSN2093-7717
- SCOPUS, ESCI
ISSN : 1738-3110
How community-specific sponsorship of a traditional market creates brand equity: The interdependent relationship between POSCO and the Jukdo Market
Lee, Kwang-Keun
Abstract
The concept of Corporate Social Responsibility (CSR) was first introduced sixty years ago in the academic field. However, the phrase CSR was not explicitly stated before the 1990s in Korean business and academic researches. Recently CSR is more considered a corporate strategy than a philanthropic donation. CSR comprises contributions to local communities as well as using environmentally beneficial and humane practices. Sponsoring is one available marketing tactic used in order to communicate with the market. This study of sponsorship has concentrated on developing brand asset by accessing potential values of sporting events or star-players. However, sponsorship includes providing funds or goods to non-profit institutions as well as sports or entertainment organizations. Accordingly corporate community-specific sponsorship is defined as firms offering to provide money, goods and/or services to individuals and/or institutions within a particular community, thus establishing an interdependent relationship between the partners aspiring to gain social and economic assets. National sponsorship is typically targeted toward commonly recognized individuals and/or organizations with the intent to maximize exposure of a sponsor's brand, and is known to positively affect brand equity(community-specific sponsorship is committed to a limited local area) that a firm could benefit from by gaining a specific asset. POSCO sponsors the Jukdo Market, locate dinthe city of Pohang, tohelp revive their traditional market. Inreturn, the Jukdo Market merchant suni on display sflags with the POSCO embleminfrontof stores with in the market intending to make shopper sand merchant saware of POSCO's sponsorship. POSCO has succeeded in acquiring public support from the citizens of Pohang. However, the economic effects resulting from the cooperative relationship between POSCO and the Jukdo Market have yet to be measured by any empirical research. The purpose of this study is to assess the economic effects created by the community-specific sponsorship from the groups of merchants and shoppers, measuring its influence on the corporate image and subsequent brand loyalty, as parts of brand equity. The result of the study shows that the community-specific sponsorship of POSCO of the Jukdo Market had different influences on its corporate image and the brand loyalty of shoppers and merchants. First, the merchant group who was more frequently exposed to POSCO's flag recognized the sponsorship of POSCO more than the shopper group, and, therefore, had a better image of the company. Second, the recognition of POSCO's sponsorship had a positive influence on its corporate image, and that positive corporate image had a positive effect on brand loyalty development. However, the recognition of the sponsorship did not have a direct influence on brand loyalty. The friendly corporate image developed by the recognition of the sponsorship consequently could have had an effect on brand loyalty. Therefore, companies should not relinquish investments to corporate image development if they require more brand loyalty. Third, the influence of corporate image on brand loyalty shows stronger results in the shopper group rather than in the merchant group. Psycho-graphic factors of shoppers and merchants might give rise to the difference between the two groups.
- keywords
- 기업의 사회적 책임, 지역사회 특화 스폰서십, 기업 이미지, 브랜드 충성도, 브랜드 자산
Reference
김상철 (2004), “재래시장의 경쟁력 방안에 관한 연구”, 유통과학연구, 2(2), 17-32.
노광표 (2006), “포스코, 나이키 그리고 기업의 사회적 책임”, 노동사회, 2006년 9월호, 10-20.
도은진 (2005), “사회공헌활동의 가치창출전략”, POSRI 경영연구,5(2), 203-229.
성정연, 전선규 (2009), “수유시장의 재래시장 활성화전략 사례”,경영교육연구, 12(3), 51-82.
이상옥 (1995), “한국재래시장의 변천과 유통근대화에 관한 연구”,경영사학, 10(1), 253-302.
이재하 (2007), “재래시장 활성화 정책의 평가와 대안 모색: 경상북도를 사례로”, 한국경제지리학회지, 10(3), 304-318.
임진, 김영기, 이민권, 김유오, 윤명길 (2011), “전통시장 관련법 개정 방안에 대한 고찰: 성남 모란시장을 중심으로”, 유통과학연구, 9(2), 37-47.
전국경제인연합회 (2008), 2007 (기업, 기업재단) 사회공헌백서, 전국경제인연합회 편.
최낙환, 박덕수 (2011), "기업연상이 소비자의 자아연관성과 개별브랜드의 충성도에 미치는 영향", 유통과학연구, 9(1), 5-15.
포스코 (2008), Creating Another Success Story; 2007 지속가능보고서, 58-64 from http://www.posco.co.kr/homepage/.
한상린, 성형석 (2007), “산업재 브랜드 자산의 구성요인들이 관계적 성과에 미치는 영향에 관한 연구”, 한국마케팅저널,9(1), 43-72.
한은경 (2003), “기업의 사회적 책임의 지수화에 관한 연구”, 한국방송학보, 17(3), 274-303.
Aaker, David A. (1996), "Measuring Brand Equity Across Productsand Markets", California Management Review, 38(3),102-120.
Barich, Howard & Kotler, Philip (1991), "A Framework for Marketing Image Management", Sloan Management Review,32(2), 94-104.
Baggozzi, Richard P. (1974), "Marketing as Exchange", Journal of Marketing, 41(1), 32-39.
Bowen, H. R. & Johnson, F. E. (1953), Social Responsibility of the Businessman, New York.
Bristol, Lee H. Jr. (1960), "Why Develop Your Corporate Image?",Developing the Corporate Image, Lee H. Bristol, Jr. ed.,New York: Charles Scribner's Sons, xiii-xvi.
Brown, Tom J. & Dacin, Peter A. (1997), "The Company and the Product: Corporate Association and Consumer Product Responses", Journal of Marketing, 61(January), 68-84.
Carroll, A. B. (1979), "A Three-Dimensional Conceptual Model of Corporate Performance", The Academy of Management Review, 4(4), 497-505.
Carroll, A. B. (1991), "The Pyramid of Corporate Social Responsibility", Business Horizons, 34(4), 39-48.
Carlson, Robert O. (1963), "The Nature of Corporate Images", The Corporation and Its Publics, John W. Riley Jr. ed., New York: John Wiley & Sons, 24-47.
Cateora, P. R. Gilly, M. C. & Graham, J. L. (2009), International Marketing 14th ed., McGraw-Hill, 67-69.
Cho, Hye-Duk, Hwang, Jae-Kwang & Lee, Sang-Youn (2011), "A Study on the Aesthetic Art Marketing Communication of Luxury Brand Using Storytelling", Journal of Distribution Science, 9(3), 73-82.
Deresky, Helen (2006), International Management: Managing Across Borders and Cultures 5th ed., Pearson Prentice Hall, 29-57.
Dutton, Jane E., Dukerich, Janet M. & Harquail, Celia V. (1994),"Organizational Images and Member Identification", Administrative Science Quarterly, 39(2), 239- 263.
Enis, Ben M. (1967), "An Analytical Approach to the Concept of Image", California Management Review, 9(4). 51-58.
Fombrun, Charles J. (1996), Reputation: Realizing Value From the Corporate Image, Boston: Harvard Business School Press.
Fombrun, Charles J. & Shanley, Mark (1990), "What's in a Name? Reputation Building and Corporate Strategy", Academy of Management Journal, 33(2), 233-258.
Gregory, James R. (1991), Marketing Corporate Image: The Company as Your #1 Product, Lincolnwood, IL: NTC Business Books.
Han, E.Y. (2004), "Leveraging the Corporate Brand", California Management Review, 46(3), 6-18.
Hardy, Kenneth G. (1970), "WHATEVER HAPPENED TO IMAGE?" Business Quarterly, 35(4), 70-76.
Homer, Pamela M. (2006), "Relationships Among Ad-Induced Affect, Beliefs, and Attitudes: Another Look", Journal of Advertising, 35(1), 35-51.
Keller, K. L. & Aaker, David A. (1994), "Managing the Corporate Brand: The Effects of Corporate Images and Corporate Brand Extensions", Research Paper No. 1216, Stanford University Graduate School of Business.
Keller, K. L., Heckler, S. & Houston, M. (1998), "The Effects of Brand Name Suggestiveness on Advertising Recall", Journal of Marketing, 62(1), 48-57.
Kreps, David M. & Wilson, Robert (1982), "Reputation and Imperfect Information", Journal of Economic Theory, 27(2), 253-279.
Milgrom, Paul & Roberts, John (1982), "Predation, Reputation, and Entry Deterrence", Journal of Economic Theory, 27(2),280-312.
Oliver, Richard L. (1993), "Cognitive, affective, and attribute bases of the satisfaction response", Journal of Consumer Research, 20(3), 418-430.
Park, Mun-Seo, Kim, Hyung-Joon & Lee, Sang-Youn (2011), "A Study on the Determinants of Purchasing Decision Making for Effective Branding Strategy: Focusing the Medicined Treatment in Infantile Obesity", Journal of Distribution Science, 9(3), 55-64.
Pope, Nigel, Voges, Kevin E. & Brown, Mark (2009), "Winning Ways: Immediate and Long-Term Effects of Sponsorship on Perceptions of Brand Quality and Corporate Image", Journal of Advertising, 38(2), 5-20.
Shimp, Terence A. & Bearden, William O. (1982), "Warranty and Other Extrinsic Cue Effects on Consumers' Risk Perceptions",Journal of Consumer Research, 9(2), 38-46.
Varadarajan, P. Rajan & Menon, Anil (1988), "Cause-Related Marketing: A Coalignment of Marketing Strategy and Corporate Philanthropy", Journal of Marketing, 52(3), 58-74.
Wansink, Brian (1989), "The Impact of Source Reputation onInferences About Unadvertised Attributes", Advances in Consumer Research, 16, 399-406.
Yoo, B. H., Donthu, N. & Lee, S. (2000), "An Examination of Selected Marketing Mix Elements and Brand Equity", Journal of the Academy of Marketing Science, 28( 2), 195-211.
- Downloaded
- Viewed
- 0KCI Citations
- 0WOS Citations