Stakeholder Marketing 2.0
Abstract
As more companies pursue “open innovation” and adopt social networking and Web 2.0 tools, there is an emerging opportunity for them to connect with a diverse body of stakeholders and incorporate their interests and ideas. However, this also introduces many new challenges. The author identifies key properties that such networking mechanisms must satisfy if they are to succeed. He introduces a simple framework based on two dimensions of choices for designing such mechanisms: how the stakeholders are motivated to participate and how the company uses their inputs and makes decisions. For any choice, there are trade-offs to be considered. The author concludes by identifying the design that is most likely to succeed in fundamentally advancing the state-of-the-art of stakeholder marketing. Examples of many pioneering companies, such as Starbucks, Dell, Staples, Muji, and several others, are included in the discussion to illustrate the key propositions presented.
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In general, a greater and more diverse set of stakeholders has gained control over a variety of marketing decisions.
“In general, a greater and more diverse set of stakeholders has gained control over a variety of marketing decisions (Chakravorti 2010;Day 2011).”
From Stakeholder marketing: theoretical foundations and required capabilities (2015) · cites this paper as Chakravorti 2010
Dispersion of control can be observed across a variety of marketing decisions, such as branding, product specifications, distribution, and advertising.
“Dispersion of control can be observed across a variety of marketing decisions, such as branding, product specifications, distribution, and advertising.”
From Stakeholder marketing: theoretical foundations and required capabilities (2015) · cites this paper as Chakravorti 2010
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Stakeholder marketing: theoretical foundations and required capabilities
Hillebrand, B., Driessen, P. H., & Koll, O. (2015) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-015-0424-y · Cited by 257 · see citing works
- Authors
- Chakravorti, B.
- Affiliations
- Harvard University (US)
- Corresponding author
- Chakravorti, Bhaskar
- Venue
- Journal of Public Policy & Marketing
- Publisher
- SAGE Publications
- Published
- 2010-04
- Volume
- 29
- Issue
- 1
- Pages
- 97-102
- ISSN
- 0743-9156 (ISSN-L)
- 1547-7207
- OpenAlex
- W2087823901
- Cited by
- 54
- References
- 30
- Citations by year
- 2026: 1 · 2025: 3 · 2024: 1 · 2023: 2 · 2021: 2 · 2020: 1 · 2019: 4 · 2018: 1 · 2017: 3 · 2016: 3 · 2015: 7 · 2014: 7 · 2013: 6 · 2012: 9
- FWCI
- 19.75
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Public Policy & Marketing (publishedVersion)
- Funders
- Goldcorp
- Topics
- Social Sciences › Sociology and Political Science › Digital Marketing and Social Media
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Corporate Social Responsibility and Sustainability
- Social Sciences › Communication › Public Relations and Crisis Communication
- Keywords
- stakeholder marketing, open innovation, social networking, Web 2.0, stakeholder engagement, stakeholder motivation, corporate decision-making, corporate social media strategy
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