AMS Rev (2011) 1:44–65 DOI 10.1007/s13162-011-0002-5
Stakeholder marketing: a definition and conceptual framework
G. Tomas M. Hult & Jeannette A. Mena & O. C. Ferrell & Linda Ferrell
Received: 8 August 2010 / Accepted: 23 November 2010 / Published online: 19 May 2011 # Academy of Marketing Science 2011
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
We appreciate the detailed input received in the review process of this manuscript and, in particular, from Co-Editor Vicky Crittenden. Input from Claes Fornell, Robert Nason, David Closs, and Ahmet Kirca during different stages of the development of this paper are also appreciated. G. T. M. Hult (*) The Eli Broad College of Business, Michigan State University, East Lansing, MI 48824–1122, USA e-mail: firstname.lastname@example.org J. A. Mena College of Business, University of South Florida, 4202 E. Fowler Avenue, Tampa, FL 33620-5500, USA e-mail: Jeannette_Mena@Yahoo.com O. C. Ferrell : L. Ferrell Anderson School of Management, University of New Mexico, Albuquerque, NM 87131, USA O. C. Ferrell e-mail: OCFerrell@mgt.unm.edu L. Ferrell e-mail: LFerrell@mgt.unm.edu
marketing and research questions for examining the linkages among stakeholder exchanges, value creation,...