Article 3 Flashcards
Who wrote “Stakeholder marketing: theoretical foundations and required capabilities”?
Hillebrand, B., Driessen, P.H. & Koll, O. Stakeholder marketing: theoretical foundations and required capabilities. J. of the Acad. Mark. Sci. 43, 411–428 (2015). https://doi.org/10.1007/s11747-015-0424-y
What is the multiplicity theory, mentioned in Hillebrand et al.?
A multiplicity is an “assemblage,”
an entity that is constituted by the conjunctive synthesis of a number of simple elements or singularities. There are two types: discrete and continuos multiplicities. Discrete multiplicities are objective, actual, and leave no room for multiple parallel interpretations at the same time. n contrast, considering multiplicities as continuous implies that multiplicities are heterogeneous and not countable. Continuous multiplicities are subjective and allow different interpretations in parallel. In other words, this perspective suggests that the properties of the whole emerge from the interactions between the parts
What are the three required transitions mentioned in Hillebrand et al.?
1) transition from dyadic to complex exchange (systems thinking), 2) transition from implicit to explicit tension (paradoxical thinking), and 3) from centralized to dispersed control (democratic thinking)
What is the shift in value exchange in Hillebrand et al?
Understanding the whole stakeholder value system (complex exchange; systems thinking) vs just understanding how to build & maintain relationships w/ customers (ie. dyadic exchange)
What is the shift in tension in Hillebrand et al?
Shifting from logical/convergent to paradoxical thinking. Going from following formal logic (one perspective) to paradoxical (accepting and learning from tension between stakeholder interests; ie. shift from implicit to explicit tension)
What is the shift in control in Hillebrand et al?
Shifting from responsive thinking to democratic thinking. Going from responding to the needs of stakeholders (mostly customers) while remaining in control of marketing decisions to sharing control over marketing decisions w/ a multitude of stakeholders (ie. dispersed control)
What is the paradox theory in Hillenbrand et al.?
Paradox theory suggests that the interests of various stakeholders and the resulting tension between them should be accepted. Paradox theory even suggests that tension provides an opportunity to learn, as “paradox management entails exploring, rather than suppressing, tensions.” In marketing, this means taking each stakeholder’s interests seriously and exploring key POVs. Some firms actively seek tension to improve decision-making.
What is the performance measure in Hillenbrand et al.?
Stakeholder marketing capabilities are unlikely to have a short-term and direct effect on traditional performance measures, (ie. profits, sales, or market share). Instead, based on the literature on stakeholder relations, we expect their impact to be long-term and indirect. More specifically, stakeholder marketing capabilities are likely to lead to strong stakeholder relationships.
What is “systems thinking” in Hillenbrand et al.?
Understanding the whole stakeholder value system, not just dyadic/relationships w/ customers; a complex value exchange vs a dyadic value exchange
What is “paradoxical thinking” in Hillenbrand et al.?
Accepting and learning from tensions between stakeholder interests; explicit vs implicit tensions
What is “democratic thinking” in Hillenbrand et al.?
Sharing control over marketing
decisions with a multitude of
stakeholders; dispersed vs centralized control over decisions.
what is a stakeholder, in Hillenbrand et al.?
any group or individual who is affected by or can affect the achievement of an organization’s objectives
what is stakeholder marketing, in Hillenbrand et al.?
activities within a system of social institutions and processes for facilitating and maintaining value through exchange relationships with multiple stakeholders
Key takeaways from Hillenbrand et al
1) Stakeholder marketing requires a fundamentally different way of thinking, 2) Managing stakeholder relationships is part of marketing, 3) Customer primacy in marketing theory is challenged!
What are the four steps to closing the stakeholder marketing capabilities gap in Hillenbrand et al?
1) diagnose the gap, 2) prioritize capabilities (which is most critical?), 3) build capabilities (choose activities), 4) implement and learn (monitor performance)
