Stakeholder perceptions presage holistic stakeholder relationship marketing performance

doi:10.1108/03090560510610716

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European Journal of Marketing

ISSN: 0309-0566

Online from: 1967

Subject Area: Marketing

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Stakeholder perceptions presage holistic stakeholder relationship marketing performance

Document Information:
Title:	Stakeholder perceptions presage holistic stakeholder relationship marketing performance
Author(s):	Brian Murphy, (Department of Commerce, Massey University at Albany, Albany, New Zealand), Paul Maguiness, (Department of Commerce, Massey University at Albany, Albany, New Zealand), Chris Pescott, (Department of Commerce, Massey University at Albany, Albany, New Zealand), Soren Wislang, (Department of Commerce, Massey University at Albany, Albany, New Zealand), Jingwu Ma, (Department of Commerce, Massey University at Albany, Albany, New Zealand), Rongmei Wang, (Department of Commerce, Massey University at Albany, Albany, New Zealand)
Citation:	Brian Murphy, Paul Maguiness, Chris Pescott, Soren Wislang, Jingwu Ma, Rongmei Wang, (2005) "Stakeholder perceptions presage holistic stakeholder relationship marketing performance", European Journal of Marketing, Vol. 39 Iss: 9/10, pp.1049 - 1059
Keywords:	Perception, Relationship marketing, Stakeholder analysis
Article type:	Research paper
DOI:	10.1108/03090560510610716 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Abstract:	Purpose – To measure marketing performance in a holistic sense. Design/methodology/approach – To augment the prevailing customer relationship marketing paradigm, a holistic stakeholder relationship marketing paradigm is proposed in which holistic marketing performance is reflected in the delivery of long-term economic, social, and environmental value to customer, employee, supplier, community, and shareholder stakeholders of a business in order to enhance sustainable financial performance. Present stakeholder attitudes are measured in a stakeholder performance appraisal within a stakeholder relationship marketing model, as timely, early warning signals of future stakeholder behaviour and concomitant future business performance. Findings – Stakeholder performance appraisal results to date indicate that a holistic stakeholder relationship marketing orientation that incorporates triple bottom line philosophy significantly enhances business financial performance beyond that achieved by a customer relationship marketing orientation. Research limitations/implications – The stakeholder performance appraisal has been applied to only 33 businesses to date providing scope for wider application of this measurement system to demonstrate its practical usefulness in measuring holistic marketing performance and future financial performance. Practical implications – The stakeholder performance appraisal provides a perceptual overview of holistic marketing performance and concomitant business financial performance from stakeholders in terms of quantitative ratings of economic, social and environmental performance, and qualitative strengths, weaknesses, opportunities and threats. These data enable a business to plan stakeholder relationship marketing strategies to enhance performance and to predict future financial performance. Originality/value – The stakeholder relationship marketing model and the stakeholder performance appraisal are new, unique, managerially useful additions to existing stakeholder models and metrics.