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Column 17 · Stakeholders and Sustainability · Era 1, Foundations (to 1969)
Broadened Marketing
Environment and context · Landmark · Cluster VI, Context
Description
Kotler and Levy argued that marketing is a pervasive societal activity that applies to nonbusiness organizations, causes, and ideas, broadening the concept beyond commercial exchange.
Managerial Implications
Marketing principles apply to any exchange, including with employees, investors, regulators, and communities. Managers should treat each stakeholder group as a market: understand what they value, what they give in return, and how they judge the organization. Internal marketing of strategy to employees and credible communication with regulators follow the same logic as customer marketing, and are often the weaker links.