A myriad of companies do culture-art marketing on the performance of their corporate social responsibility (CSR). As a result, culture-art marketing based on CSR has emerged as an inescapable priority for many companies. However, CSR programs focus m...
A myriad of companies do culture-art marketing on the performance of their corporate social responsibility (CSR). As a result, culture-art marketing based on CSR has emerged as an inescapable priority for many companies. However, CSR programs focus mostly on reputation and have only a limited connection to the business, making their maintenance hard to justify in the the long run. In contrast, creating shared value (CSV) is integral to a company's profitability and competitive position. It leverages the unique resources and expertise of the company to create economic value by creating social value. In this vein, the present study inquired into culture-art marketing based on CSV. The purposes of the present study are to (a) propose the direction of CSV and (b) examine the effects of CSV on a consumer.
For the present study, the author approached three different methodologies. First, the present study conducted in-depth interviews with culture-art marketing managers, cultural art enterprisers, and professors to explore the direction of CSV. Using content analysis, the author extracted keyword and core phrase from the deposition of the interview, then, classified and categorized them according to the similarities of and differences in their meanings. Through these process, the current study drew six necessary conditions (e.g., ‘social investment’, ‘positioning’, ‘management’, ‘operation’, ‘involvement’, and ‘confidence building’) for CSV.
Second, through a series of exploratory and confirmatory factor analyses, the present study confirmed that the motivation of social philanthropy is a multidimensional construct, composed of several subordinate concepts.
Third, the present study adopted 3 x 2 factorial design and conducted an experiment to examine the main and interaction effects of social philanthropy on the evaluation of the firm. Specifically, this study classified three different social philanthropy group; the CSR group, the CSV group, and a control group as a neutrality. The multivariate analysis of variance(MANOVA) was used to assess the statistical significance of the effects of one or more independent variables on a set of two or more dependent variables. The results reveal that CSV appeared to have higher level of evaluation of firm from consumers than its counterparts (i.e., CSR group and control group).
Lastly, the present study analyzed the structural relationship between three motivations of social philanthropy (i.e., motivation for firm, customer, and social) and the evaluation of firm using structural equation modeling with the structural model invariance across the groups (i.e., CSR group, CSV group, and neutrality group). The current study found that both motivation for customer value and the motivation for social value positively influenced the evaluation of the firm image, while the motivation for firm value did not. This study also found that there was a group difference in how three motivations of social philanthropy influenced the evaluation of the firm image. Specifically, the present study found that the path from motivation for social value to the evaluation of the firm image was much stronger among CSV group than among CSR and neutrality group, and this difference was statistically significant.
In conclusion, the present study conducted several methodological approaches to inquire into CSV. The procedures of the study might suggest the methodological milestone for follow-up studies.