Global Journal of Management and Business Research, G: Interdisciplinary, Volume 23 Issue 1

Fig. 2: Jones R. Finding Sources of Brand Value. Developing a Stakeholder m=Model of Brand Equity. Journal of Brand Management. 2005; 13 (1): 10-32 Companies use CSR to fulfill these responsibilities to stakeholders such as consumers. Through this fulfillment consumers directly help build the brand equity of a brand by word of mouth, this strategic way to build brand equity is used often these days and is known as WOM marketing. An empirical study by Asif and Jamshed¹¹ shows that CSR initiatives have a positive catalytic effect between brand reputation and brand equity, outcomes of regression analysis indicated that 39% of the variance in brand equity can be explained by brand reputation, and social responsibilities such as philanthropic, ethical, and economic. A study¹² by HUR also provides evidence that CSR influences brand equity. Therefore, we can conclude that by being proactive in CSR a company can higher its profit margins. IV. M edia According to Saurabh¹³, press releases provide several benefits to the corporates, these include: 1) Visibility- press releases can help one's company to be more aware and get identified more easily by the public as media outlets usually are seen by many. 2) Credibility- when there is a press release by a reputable media outlet it can help establish credibility for one's company and make people take one's message more seriously. 3) Press releases can help create backlinks to your company’s website which can help in your search engine rankings. 4) Press releases help to generate leads for one's company. By including a call to action in your press release, one can be encouraged to visit the company's website or to visit their physical stores which can create new customers. 47 Global Journal of Management and Business Research Volume XXIII Issue I Version I Year 2023 ( )G © 2023 Global Journals Golden Win-Win Situation Created by CSR