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Book part
Publication date: 27 June 2016

Tracy L. Gonzalez-Padron, G. Tomas M. Hult and O. C. Ferrell

Further understanding of how stakeholder marketing explains firm performance through greater customer satisfaction, innovation, and reputation of a firm.

Abstract

Purpose

Further understanding of how stakeholder marketing explains firm performance through greater customer satisfaction, innovation, and reputation of a firm.

Methodology/approach

Grounded in stakeholder theory, the study provides a conceptualization of stakeholder orientation based on cultural values that is distinctive from stakeholder responsiveness and examines the relationship of stakeholder responsiveness to firm performance. The study determines the mediating role of marketing outcomes on the impact of stakeholder responsiveness on firm performance. Multiple regression analysis tests hypotheses using a data set consisting of qualitative data obtained from corporate documents and quantitative data from respected secondary sources.

Findings

Our findings provide support for stakeholder marketing creating a strong relationship to organizational outcomes. There exists a positive relationship between stakeholder responsiveness and firm performance through customer satisfaction, innovation, and reputation.

Research implications

Our definition implies that stakeholder responsiveness is acting in the best interests of the stakeholder as a responsible business. This study shows that stakeholder marketing may not always represent socially responsible marketing. Further research could explore how and why firms may not respond ethically and responsibly to stakeholders.

Practical implications

We further the discussion whether stakeholder marketing equates to sustainability. Marketers can build on expertise of managing customer relationship and generating customer value to develop a stakeholder marketing approach that addresses the economic, social, and environmental concerns of multiple stakeholders.

Originality/value

We further the discussion whether stakeholder marketing equates to sustainability. Marketers can build on expertise of managing customer relationship and generating customer value to develop a stakeholder marketing approach that addresses the economic, social, and environmental concerns of multiple stakeholders.

Details

Marketing in and for a Sustainable Society
Type: Book
ISBN: 978-1-78635-282-8

Keywords

Article
Publication date: 4 February 2020

Ekawee Vaitoonkiat and Peerayuth Charoensukmongkol

This study aims to investigate stakeholder orientation’s influence on firm’s performance and analyze four types of stakeholder orientations: customer, competitor, employee and…

Abstract

Purpose

This study aims to investigate stakeholder orientation’s influence on firm’s performance and analyze four types of stakeholder orientations: customer, competitor, employee and shareholder. Moreover, this research extended the previous literature by examining perceived market uncertainty’s moderating effect, which can influence the effects of the orientation to all four stakeholder groups’ effects on firm performance.

Design/methodology/approach

The study collected questionnaire data from 370 small and medium-sized enterprises in the steel fabrication industry in Thailand, and hierarchical regression analysis was used to test the hypotheses.

Findings

The results of the main effect analysis indicated that customer, competitor and employee orientation affected firm’s performance positively and significantly; however, the analysis did not support shareholder orientation’s significant contribution. Moreover, the analysis of the moderating effect showed that perceived market uncertainty moderated customer and competitor orientation’s effect on firm’s performance positively and significantly. However, perceived market uncertainty moderated employee and shareholder orientation’s effects on firm’s performance negatively and significantly.

Originality/value

This study advances prior research by showing that stakeholder orientation’s role in firms’ performance may be contingent on the nature of market conditions that firms experience. In particular, this research demonstrated that not all aspects of stakeholder orientation may be beneficial for firms to maintain high performance under high market uncertainty.

Article
Publication date: 3 August 2015

Deborah Goldring

The purpose of this paper is to develop a new construct called reputation orientation, which is defined as a conscious, company-wide, strategic focus on building and maintaining a…

4430

Abstract

Purpose

The purpose of this paper is to develop a new construct called reputation orientation, which is defined as a conscious, company-wide, strategic focus on building and maintaining a positive corporate reputation among key stakeholders.

Design/methodology/approach

A conceptual framework is developed that links reputation orientation to construed image and business performance. An empirical test of the key stakeholder relationship between sellers and buyers is conducted using an online survey of US-based marketing managers from a variety of for-profit industries.

Findings

The research findings demonstrate that reputation orientation is a valid construct and show a positive relationship between reputation orientation and business performance which is partially mediated by construed image.

Research limitations/implications

This research was exploratory in nature, so the data must be interpreted carefully and subject to additional contexts.

Practical implications

Reputation orientation has implications for managers who want to proactively pursue reputational excellence for competitive advantage.

Social implications

Reputation orientation has implications for stakeholder satisfaction, socially responsible behavior, ethical decision making, and sustainability.

Originality/value

This research empirically tests a model that integrates corporate marketing constructs with marketing managers’ decision-making behaviors and perceptions.

Details

Marketing Intelligence & Planning, vol. 33 no. 5
Type: Research Article
ISSN: 0263-4503

Keywords

Article
Publication date: 23 September 2020

Hardeep Chahal, Pankesh Kumar, Neetu Kumari and Saguna Sethi

The purpose of this study is to understand the concept of stakeholder marketing orientation (SMO), its dimensionality and the development of an SMO scale. Further, the study also…

Abstract

Purpose

The purpose of this study is to understand the concept of stakeholder marketing orientation (SMO), its dimensionality and the development of an SMO scale. Further, the study also aims to analyze the impact of SMO on business performance (BP) in Indian pharmaceutical marketing companies. The moderating role of organizational culture between the study variables (i.e. SMO and BP) is also evaluated.

Design/methodology/approach

The data regarding SMO are gathered from 93 owners/managers of pharmaceutical marketing companies operating in North India. The underlying dimensions of the scale are identified through exploratory factor analysis. Further, the reliability and validity of the scales are also checked. Further, the partial least square (PLS) technique is used to analyze the study variables.

Findings

SMO is established as a multi-dimensional scale comprising system thinking (personal consideration of stakeholder, the relationship of stakeholder, systematic problem-solving and interdependence), paradoxical thinking (decision control and autonomy, uniformity and individualization and distance and closeness) and democratic thinking (ease for the stakeholders to share their voice, involvement in decision-making, the existence of participatory culture in the organization). The SMO showed a positive and significant impact on BP (market growth, return on investment, return on asset and market share). Further, the results also indicated the moderating role of organizational culture between SMO and BP relationship.

Research limitations/implications

This study primarily focuses on the measurement of SMO, exploring its dimensions (system thinking, paradoxical thinking and democratic thinking) and validating using exploratory factor analysis (EFA) and PLS techniques. Further, the sample size of the study is small (n = 93), and hence confirmatory factor analysis (CFA) and covariance based-SEM could not be applied. It is suggested that future research needs to be undertaken with a bigger sample in the pharmaceutical sector and later in other sectors to validate the results of the study. The impact of moderating variables such as organizational culture, industry size, type and owner experience can also be explored between the study variables in the future. The study is limited to the measurement of SMO from owners/managers’ perspectives, other internal (employees) and external stakeholders such as suppliers, distributors, chemists and hospitals were not contacted because of time constraints. Future research needs to consider the perspectives of these stakeholders in grounding the conceptual framework of SMO.

Originality/value

This research contributes to the development of the SMO scale. It is identified as a practice, based on system thinking, paradoxical thinking and democratic thinking, which provides an organization with better performance. The study results help in strengthening SMO and BP in pharmaceutical marketing industries.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 15 no. 1
Type: Research Article
ISSN: 1750-6123

Keywords

Article
Publication date: 28 January 2014

James W. Clark, Lisa C. Toms and Kenneth W. Green

The theoretical framework for market-oriented sustainability developed by Crittenden, Crittenden, Ferrell, Ferrell, and Pinney, in which the relationship between organizational…

1896

Abstract

Purpose

The theoretical framework for market-oriented sustainability developed by Crittenden, Crittenden, Ferrell, Ferrell, and Pinney, in which the relationship between organizational culture and performance management is theorized as moderated by stakeholder involvement, is empirically assessed. The paper aims to discuss these issues.

Design/methodology/approach

Crittenden et al. model is operationalized using market orientation to represent organizational culture and climate, logistics performance to represent performance management, and green purchasing to represent the moderator stakeholder involvement in sustainability. The model is assessed using data collected from a sample of 257 manufacturing managers working for US manufacturing plants. A partial least squares structural equation modeling approach is used to statistically assess for measurement scale validity and reliability and the moderated model.

Findings

The results support the conceptual framework for market-oriented sustainability theorized by Crittenden et al. Organization culture in the form of market orientation interacts with stakeholder involvement in sustainability in the form of green purchasing to enhance performance monitoring in the form of logistics performance.

Research limitations/implications

This study is one of the first to empirically assess the market-oriented sustainability model. Only one set of potential constructs (market orientation, green purchasing, and logistics performance) is used to test the overall model thus limiting the generalization of the results.

Practical implications

The results indicate that manufacturing managers should work to establish and improve market orientation as a direct way of making their plants and organizations environmentally sustainable and that manufacturing managers interact with supply chain partners, specifically suppliers, to satisfy customer demands for eco-friendly products and services.

Originality/value

This is one of the first studies to empirically assess the general form of the market-oriented sustainability model.

Details

Industrial Management & Data Systems, vol. 114 no. 1
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 14 June 2013

Ramendra Singh and Sharad Agarwal

The purpose of this paper is to address two research questions: First, are business metrics of Indian banks associated with its CSR orientation? Second, is the CSR orientation of…

2040

Abstract

Purpose

The purpose of this paper is to address two research questions: First, are business metrics of Indian banks associated with its CSR orientation? Second, is the CSR orientation of banks focused on areas which are driven by nature of its target markets, such that there is an alignment between CSR orientation and benefits accrued to its stakeholder segments, directly or indirectly?

Design/methodology/approach

The authors analyze 49 Indian banks (25 public sector, 15 private sector and nine foreign banks) operating in India based on data available from the banks’ web sites, annual reports and sustainability/CSR reports (if available). From content analysis, the data were into seven categories – Education, Health, Community Welfare, Entrepreneurship Development, Environment, Market Place, and Rural Development.

Findings

The results indicate that CSR orientation of Indian Banks differ only based on ownership, number of employees, and date of its incorporation in the areas of Environment & Rural development (for ownership), Community Welfare, Environment, and Rural development (for number of employees), and Environment, and market place (for date of its incorporation).

Research limitations/implications

The findings of this study should be confirmed in future studies since this study is based on qualitative analysis of information shared by banks on their CSR activities and programs.

Practical implications

Bank managers need to identify and focus on areas in which CSR orientation can give them more strategic advantage in building relationship with its stakeholders. Doing so would help in meeting the expectations of the stakeholder expectations successfully.

Originality/value

This paper contributes to literature in many ways. It adds to the nascent body of knowledge on CSR orientation as an alternate relationship marketing strategy, which merits more attention from researchers.

Details

Marketing Intelligence & Planning, vol. 31 no. 4
Type: Research Article
ISSN: 0263-4503

Keywords

Article
Publication date: 1 September 2005

Brian Murphy, Paul Maguiness, Chris Pescott, Soren Wislang, Jingwu Ma and Rongmei Wang

To measure marketing performance in a holistic sense.

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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.

Details

European Journal of Marketing, vol. 39 no. 9/10
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 12 November 2021

Ernest Kafui Kwasi Tsetse, Mahmoud Abdulai Mahmoud, Charles Blankson and Raphael Odoom

The purpose of this study is to establish the relationship between stakeholder market orientation (StMO) and sustainability performance (SP) at tourism destinations (TDs).

Abstract

Purpose

The purpose of this study is to establish the relationship between stakeholder market orientation (StMO) and sustainability performance (SP) at tourism destinations (TDs).

Design/methodology/approach

Using a quantitative survey, data was collected from 313 tourism business managers, who are the owners or managers of the tourism businesses at the TDs, and was analysed using the partial least square structural equation model.

Findings

Findings indicate that environmental performance is the highest sustainability management practice adhered to at the TDs. Also, community and visitor orientations predicted SP most, with all its hypotheses supported.

Research limitations/implications

This study focuses on the impact of StMO dimensions on SP within the TDs, thereby limiting generalisation to other sectors.

Practical implications

Tourism marketing managers are given the knowledge that StMO strategy is a precondition for effective implementation and adoption of SP strategy.

Social implications

The results have key social implications, in that a sustainability marketing strategy that will assist in the increase acceptance of sustainability programs within the tourism sector has been noted.

Originality/value

To the best of the authors’ knowledge, this is believed to be the first empirical study to test the relationship between StMO dimensions and three SP dimensions. This study will improve the sustainability management of tourism resources in Ghana. It will further aid in meeting some of the United Nations Sustainable Development Goals.

Article
Publication date: 9 February 2022

Prasad Siba Borah, Wisdom Wise Kwabla Pomegbe and Courage Simon Kofi Dogbe

This study aims to assess the mediating role of green marketing orientation (GMO) dimensions in the relationship between stakeholder risk and new product success among European…

Abstract

Purpose

This study aims to assess the mediating role of green marketing orientation (GMO) dimensions in the relationship between stakeholder risk and new product success among European multinational enterprises (EMNEs) in Ghana.

Design/methodology/approach

The study was based on primary data gathered from 302 EMNEs in Ghana. After various validity and reliability checks, structural equation modeling in Amos (v.23) was performed to estimate the various relationships hypothesized in the study.

Findings

The study finds that stakeholder risk had a significant negative effect on the success of EMNEs’ new products. This negative effect is, however, nullified by the positive mediating effects of strategic green marketing orientation, tactical green marketing orientation and internal green marketing orientation.

Research limitations/implications

GMO is highly regarded as context-specific, with unique characteristics. Implying that the interpretation of results from the GMO framework should be on the backdrop of the social, cultural political and economic environment.

Practical implications

Stakeholder risk posed a significant challenge to the success of EMNEs, whose operations are monitored not just by domestic stakeholders but also international stakeholders. The actions and inactions of these EMNEs affect the overall image of the mother firm and are, therefore, expected to operate within acceptable norms.

Social implications

The adoption of GMOs increases the success of new products, as firms receive a social license for their environmentally friendly operations. GMO also helps in solving societal concerns for environmental protection, which is very paramount in this 21st century.

Originality/value

Past studies have largely focused on stakeholder pressure; however, this study focuses on the risks associated with those pressures and how these risks influence the success of new products.

Details

Society and Business Review, vol. 17 no. 4
Type: Research Article
ISSN: 1746-5680

Keywords

Article
Publication date: 1 September 2005

Isabelle Maignan, O.C. Ferrell and Linda Ferrell

To provide a comprehensive managerial framework to understand and provide a well balanced and integrated stakeholder orientation for implementing corporate social responsibility…

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Abstract

Purpose

To provide a comprehensive managerial framework to understand and provide a well balanced and integrated stakeholder orientation for implementing corporate social responsibility in marketing.

Design/methodology/approach

Many published articles provide significant findings related to narrow dimensions of stakeholder orientation in marketing. This article utilizes existing knowledge on this topic to support a methodology to implement a well‐integrated corporate social responsibility program that encompasses marketing.

Findings

The findings provide a grounded framework based on previous research that provides a step‐by‐step approach for implementing corporate social responsibility from a marketing perspective.

Research limitations/implications

The framework developed in this paper provides an opportunity to examine to what extent the step‐by‐step methodology has been implemented in organizations as well as alternative approaches for implementation.

Practical implications

This is a managerial guide for using a stakeholder model for implementing social responsibility in marketing.

Originality/value

This paper fulfils a need for advancing knowledge on implementing social responsibility in marketing and provides a practical framework for managers who desire to implement social responsibility.

Details

European Journal of Marketing, vol. 39 no. 9/10
Type: Research Article
ISSN: 0309-0566

Keywords

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