How Cause-Related Marketing Might Improve Purchase Intention in Emerging Countries: A Two-Lag Study in the Finance Service Sector

For businesses in emerging countries, often confronted with important social and development challenges, cause-related marketing (CRM) might help to improve their market share in demonstrating corporate social responsibility. This study explores the relationship between CRM bringing up the issue of COVID-19 and purchase intention among consumers of banking services in an emerging country. We collect data through two survey studies (303 and 506 respondents) using a 3-month time-lagged design. Results show the relevance of associative learning and signal theories in confirming (1) the positive sequential mediating effect of brand association and commitment on the relationships between CRM bringing up the issue of COVID-19 and purchase intention and (2) the moderating positive impact of corporate image on the relationships between CRM bringing up the issue of COVID-19 and consumer brand association. Our findings encourage firms in emerging countries to use CRM, but governments should also incentivize or support adopting socially responsible practices.