Thursday, March 16, 2006

1 The Future Research Group Department of Commerce Massey University at Albany Working Paper 03.10

1 The Future Research Group Department of Commerce Massey University at Albany Working Paper 03.10: "Relationship Marketing is evolving from an almost exclusive customer orientation to a stakeholder orientation including employees, suppliers, shareholders, the community, as well as customers. Business philosophy is also evolving from the traditional single business objective of achieving a single bottom line of maximum economic returns to shareholder stakeholders, to the Triple Bottom Line (TBL) philosophy of a tripartite sustainable business objective ofachieving optimum economic, social, and environmental returns to all stakeholders. At the same time there is an increasing requirement that marketing performance be linked to profitability. This paper examines whether a stakeholder and Triple Bottom Line augmentationof relationship marketing enhances profitability. The Stakeholder Business Model is the measurement model used to measure presentstakeholder attitudes as timely, early warning signals of emerging stakeholder behaviour and concomitant emerging business performance in a Stakeholder Performance Appraisal. Appraisal results to date indicate that a stakeholder relationship marketing orientation significantly enhances business profitability beyond that achieved by a customer relationshipmarketing orientation. A further augmentation with TBL philosophy provides a very significant additional enhancement to business profitability.

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