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A Stakeholder Marketing Approach to Sustainable Business

Marketing in and for a Sustainable Society

ISBN: 978-1-78635-282-8, eISBN: 978-1-78635-281-1

Publication date: 27 June 2016

Abstract

Purpose

Further understanding of how stakeholder marketing explains firm performance through greater customer satisfaction, innovation, and reputation of a firm.

Methodology/approach

Grounded in stakeholder theory, the study provides a conceptualization of stakeholder orientation based on cultural values that is distinctive from stakeholder responsiveness and examines the relationship of stakeholder responsiveness to firm performance. The study determines the mediating role of marketing outcomes on the impact of stakeholder responsiveness on firm performance. Multiple regression analysis tests hypotheses using a data set consisting of qualitative data obtained from corporate documents and quantitative data from respected secondary sources.

Findings

Our findings provide support for stakeholder marketing creating a strong relationship to organizational outcomes. There exists a positive relationship between stakeholder responsiveness and firm performance through customer satisfaction, innovation, and reputation.

Research implications

Our definition implies that stakeholder responsiveness is acting in the best interests of the stakeholder as a responsible business. This study shows that stakeholder marketing may not always represent socially responsible marketing. Further research could explore how and why firms may not respond ethically and responsibly to stakeholders.

Practical implications

We further the discussion whether stakeholder marketing equates to sustainability. Marketers can build on expertise of managing customer relationship and generating customer value to develop a stakeholder marketing approach that addresses the economic, social, and environmental concerns of multiple stakeholders.

Originality/value

We further the discussion whether stakeholder marketing equates to sustainability. Marketers can build on expertise of managing customer relationship and generating customer value to develop a stakeholder marketing approach that addresses the economic, social, and environmental concerns of multiple stakeholders.

Keywords

Acknowledgements

Acknowledgments

We appreciate the financial support from the Center for International Business Education and Research at Michigan State University, and the input provided by Patrick L. Murphy, S. Tamer Cavusgil, and Robert Nason.

Citation

Gonzalez-Padron, T.L., Hult, G.T.M. and Ferrell, O.C. (2016), "A Stakeholder Marketing Approach to Sustainable Business", Marketing in and for a Sustainable Society (Review of Marketing Research, Vol. 13), Emerald Group Publishing Limited, Leeds, pp. 61-101. https://doi.org/10.1108/S1548-643520160000013012

Publisher

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Emerald Group Publishing Limited

Copyright © 2016 Emerald Group Publishing Limited