Assessing the Influence of Stakeholders on Sustainability Marketing Strategy of Indian Companies

Abstract

The present research is aimed at analyzing and evaluating the influence of key stakeholders on sustainability marketing strategies (SMSs) of multi-industry Indian companies. The study objective is achieved in several phases, including development of typology of SMS of Indian companies, identification and classification of stakeholders, and evaluation of influence of various stakeholders on SMS of Indian companies. To achieve these objectives, data were collected from Business Standard 1,000 companies through email survey, and 153 complete responses were received. Empirical evidence shows that most of the Indian companies are either undecided about or uninterested in adopting sustainability marketing (SM) practices, or are not showing their interest in adopting sustainability. Findings further reveal that stakeholders exert environmental, social, and economic pressures on Indian companies; managers of Indian companies feel considerable pressure from environmental stakeholders for adopting SMS, while the pressure from social and economic stakeholders is comparatively less. The study will help managers manage stakeholders effectively while formulating SMSs.