Marketing’s role in multi-stakeholder engagement

Aksoy, L and Banda, S and Harmeling, C and Keiningham, T L and Pansari, A (2021) Marketing’s role in multi-stakeholder engagement. International Journal of Research in Marketing, 39 (2). pp. 445-461. ISSN 0167-8116

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In 2019 the CEOs of more than 180 of the largest U.S. firms signed a statement of corporate purpose indicating that corporations are responsible for providing economic benefits to all stakeholders, not just shareholders. Although stakeholder theory states that there are several stakeholders (internal and external) whose continuing participation affects a firm’s sustainability and long-term profitability, the marketing literature has focused primarily on customer engagement. This research argues for a broadened focus by marketing scholars and introduces a stakeholder engagement framework based on a triangulation approach including a systematic review of marketing research from a stakeholder perspective, the results of a survey of 254 editorial review board members from top marketing journals, and business case examples. The framework identifies three dimensions of firms’ stakeholder engagement strategies (stakeholder recognition, support, and dialogue) linked to stakeholder responses (stakeholder contribution to the firm or retaliation) that ultimately influence firm performance (financial, reputation, and risk). Two core propositions of multi-stakeholder engagement provide a foundation for a detailed future research agenda for marketing.

Item Type: Article
Subjects: Marketing
Date Deposited: 27 Dec 2021 07:48
Last Modified: 12 Jul 2023 20:21

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