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Stakeholder marketing: a definition and conceptual framework

Author

Listed:
  • G. Tomas M. Hult

    (Michigan State University)

  • Jeannette A. Mena

    (University of South Florida)

  • O. C. Ferrell

    (University of New Mexico)

  • Linda Ferrell

    (University of New Mexico)

Abstract

Stakeholder marketing has established foundational support for redefining and broadening the marketing discipline. An extensive literature review of 58 marketing articles that address six primary stakeholder groups (i.e., customers, suppliers, employees, shareholders, regulators, and the local community) provides evidence of the important role the groups play in stakeholder marketing. Based on this review and in conjunction with established marketing theory, we define stakeholder marketing as “activities and processes within a system of social institutions that facilitate and maintain value through exchange relationships with multiple stakeholders.” In an effort to focus on the stakeholder marketing field of study, we offer both a conceptual framework for understanding the pivotal role of stakeholder marketing and research questions for examining the linkages among stakeholder exchanges, value creation, and marketing outcomes.

Suggested Citation

  • G. Tomas M. Hult & Jeannette A. Mena & O. C. Ferrell & Linda Ferrell, 2011. "Stakeholder marketing: a definition and conceptual framework," AMS Review, Springer;Academy of Marketing Science, vol. 1(1), pages 44-65, March.
    • Handle: RePEc:spr:amsrev:v:1:y:2011:i:1:d:10.1007_s13162-011-0002-5
    DOI: 10.1007/s13162-011-0002-5
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    References listed on IDEAS

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