Some 84% of consumers are willing to pay more for a good or service from a company they feel is socially responsible, according to a a recent survey by Lab42.
In fact, "buying from a socially conscious brand" ranks in the top 5 drivers (after price, quality, customer service, and variety) that influence purchase decisions.
So, how do consumers view companies as socially responsible?
The biggest indicator for consumers is that the company offers high-quality products, according to 70% of respondents.
Some 69% mentioned the company's reputation for being employee-friendly and fair as an indication of social responsibility.
To find out more about the five most (and the five least) socially responsible brands, check out the infographic based on the survey, which was fielded among 500 adults, age 18 and older, in the United States from August 14-18, 2014.
You may like these other MarketingProfs articles related to Brand Management:
- Brand Extensions: A Strategic Path to Growth
- The Most Valuable Global Brands
- Branding vs. Brand Identity: Five Key Differences and How to Do Both Effectively
- A Branding Geek's Five Brand-Naming Rules You Shouldn't Hesitate to Break
- Four Ways to Improve Brand Loyalty [Infographic]
- The 30 Brands B2B Professionals Trust Most