THE MODERATING INFLUENCE OF CONSUMER DEMOGRAPHICS ON THE RELATIONSHIP BETWEEN PERCEIVED CSR AND BRAND LOYALTY IN THE ROMANIAN RETAIL BANKING SECTOR

The current research investigates the moderating influence of consumer demographics on the relationship between customers’ perceptions of corporate social responsibility (CSR) and their corporate brand loyalty towards retail banks in Romania, a typical developing country and one of the largest countries of Central and Eastern Europe. The investigation is based on data collected within a survey conducted among a sample of 1,449 Romanian retail banking customers, based on a questionnaire including a specific set of items drawn up from the literature, intended to reflect corporate brand loyalty, as well as perceptual CSR dimensions, from a sustainable development and stakeholder-based perspective. After an exploratory factor analysis, the observed variables were grouped into several latent variables regarding perceived CSR and brand loyalty and, further on, these were included into a multiple regression model which was tested comparatively within various sample groups generated based on consumer demographics variables. The results emphasize several significant dissimilarities between gender, age, education and residence type based consumer segments in what concerns the impact of various CSR dimensions, as perceived by customers, on brand loyalty towards corporate brands in the banking sector. Thus, brand loyalty is significantly influenced by: perceived responsibility towards the environment – only in the case of female, younger and/or higher educated customers; perceived responsibility towards public authorities – only in the case of customers who are male, older, less educated and/or residing in larger cities; by perceived responsibility towards shareholders – only when for customers who are older, higher educated and/or residing in larger cities. The findings have practical implications for enhancing corporate brand loyalty in the regional retail banking sector market by outlining those CSR policies, actions and attitudes which should have priority within local banks’ marketing communications.