Stakeholder perceptions presage holistic stakeholder relationship marketing performance

  • Murphy B
  • Maguiness P
  • Pescott C
 et al. 
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Abstract

Purpose â To measure marketing performance in a holistic sense. Design/methodology/approach â 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 â 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 â 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 â The stakeholder relationship marketing model and the stakeholder performance appraisal are new,... ABSTRACT FROM AUTHOR Copyright of European Journal of Marketing is the property of Emerald and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts) Purpose â To measure marketing performance in a holistic sense. Design/methodology/approach â 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 â 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 â 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 â The stakeholder relationship marketing model and the stakeholder performance appraisal are new,... ABSTRACT FROM AUTHOR Copyright of European Journal of Marketing is the property of Emerald and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts)

Author-supplied keywords

  • Perception
  • Relationship marketing
  • Stakeholder analysis

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Authors

  • Brian Murphy

  • Paul Maguiness

  • Chris Pescott

  • Soren Wislang

  • Jingwu Ma

  • Rongmei Wang

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