Spread of CSR in Highlighting Sports Brands in China - Thesis Example

Moreover, different organization across the globe now uses this CSR or Corporate social responsibility strategy as one of their branding and promotional activity to reach out to more number of people across the globe.  The Cone Communications/Echo Global CSR Study organized by The Cone Communications, 2013, carried out a clear fact about the test to enterprises in the present world’s continuously challenging and ever-changing marketplace, and that is the challenge of creating a “real and meaningful impact”. In the modern world, the question is not about engaging in Corporate Social Responsibility (CSR) but in how companies can use it to make an “impact”. An impact by which it can create a different image in the society, can create a better brand image among the people and also can establish a unique brand image among the people of the country. As such, CSR is not just an option anymore but is rather “emphatically and indisputably a must-do” (Cone Communications, 3).
Corporate social responsibility is about how a firm's decisions and activities affect society (Lamb, et al, 95). Corporate social responsibility requires action and accountability in five main dimensions, economic, legal, ethical, environmental, and philanthropic (Lamb, et al, 95). These are areas a firm will need to work on and develop systems and activities that enable it to attain the best and holistic results in all they do. Over the years, marketing has evolved from its traditional position fueled by the economic ends and expectations of the Industrial Revolution. In the 1960s, marketing was based on the 4Ps, namely product, price, place, and promotion (Lindgreen, et al, 123). In that era, marketing was a tool for the improvement of sales and the increment of profitability. The focus was on transactional marketing where the end was to increase transactions by calling on more customers to become interested in the products of a company. Contemporary marketing on the other hand requires some degree of social marketing on the part of the corporate entity to enhance the value of the brands of the entity (Lindgreen, et al, 124).