Fans, friends, critics, and foes: How CSR-based stakeholder segmentation differentiates perceived corporate ethics, trust, and perceived brand quality

This study adopts a stakeholder segmentation method based on symbolic environment (SE) and behavioral experiences (BE) of the company’s corporate social responsibility (CSR) activities. The method identified four types of stakeholder: Fans, Friends, Critics, and Foes. Three survey studies (N = 700; N = 240; N = 240) showed significant differences in corporate deontological ethicality (PCDE), trust, and perceived brand quality among the four types of stakeholder. With a few exceptions, the results consistently revealed that fans reported significantly higher PCDE, trust, and perceived brand quality than the other three groups, while foes reported significantly lower PCDE, trust, and perceived brand quality than the other three groups. Furthermore, trust mediated the relationship between PCDE and perceived brand quality. How different valences of SE and BE led to divergent levels of PCDE, trust, and perceived brand quality is discussed with theoretical and managerial implications. The mediating role of trust between corporate ethics and perceived brand quality in the context of consumer-organization relationships is also discussed.