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Stakeholder perceptions presage holistic stakeholder relationship marketing performance

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)

European Journal of Marketing

ISSN: 0309-0566

Article publication date: 1 September 2005

7810

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.

Keywords

Citation

Murphy, B., Maguiness, P., Pescott, C., Wislang, S., Ma, J. and Wang, R. (2005), "Stakeholder perceptions presage holistic stakeholder relationship marketing performance", European Journal of Marketing, Vol. 39 No. 9/10, pp. 1049-1059. https://doi.org/10.1108/03090560510610716

Publisher

:

Emerald Group Publishing Limited

Copyright © 2005, Emerald Group Publishing Limited

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