Year of Graduation
Corporate Social Responsibility as a Means to Build an Added Value of a Pharmaceutical Brand
Advertising and Public Relations
In the paper the correlation between notions of corporate social responsibility and brand added value in the fields of healthcare and pharmacy was observed. Since CSR doesn’t aim at direct profit growth, being rather perceived as long-term investment, the aim of the study is to define how CSR program can provide positive influence on brand equity of a pharmaceutical brand. The paper covers the systematization of diversities between CSR and similar activities, which are also directed towards sustainable development, the expected benefits from CSR realization, the determination of peculiarities of CSR practices on the Russian market. As a result of the series of expert interviews and the case-study the crucial requirements to CSR project, which contributes to the brand added value, were identified. They include following: the complex approach during the project planning stage, the integration of the project into all strategically important processes for business, the coverage of all stakeholders and the long-term realization. The work provides the overall understanding how a pharmaceutical brand can develop a CSR program in order to gain an added value for the brand. This understanding in the perspective may be engaged in the process of CSR campaign planning, in the different stages of CSR project implementation and the evaluation of CSR campaign useful for annual reports.