Relationship Marketing Strategy Research Based On Stakeholder Theory

Relationship marketing as a new marketing method has attracted many eyeballs in academe recently. The difference between relationship marketing and transaction marketing is that the points of relationship marketing are changing from transaction into relationship. More and more enterprises and scholars have realized that good relationship could bring better achievements for firms. Since it was born, the stakeholder theory has been applied to many fields of management and its effects have been accepted by researchers. Even now, stakeholder theory got little attention from marketing academeActually when we analyze the connotation of theory of stakeholder and relationship marketing, many common points will be found, for example, recognition of long term relationship, ideas of sharing risk and profit. Since it was born, many definitions of relationship marketing have implied some ideas of stakeholder. Although we must know it is just a beginning to apply stakeholder theory to relationship marketing and few results have been achieved till now, this kind of research means a lot in theory and in practice.We find that the most important limitation of relationship marketing manifests in its strategy research. Stakeholder theory expands the relationship marketing theory in its strategy research domain. Therefore, we try to implant some results of stakeholder into relationship marketing strategy to surpass its theory limitation and practice difficult position. Although relationship marketing surpasses the traditional transaction marketing in the strategy model, relationship marketing strategy has its own limitations. The stakeholder theory can expand relationship marketing strategy by putting up a new strategy forming and implementation frame that can incorporate the whole stakeholders'interests and needs, this is the main idea of this thesis. Also we put forward with a few of supporting essential factors and a performance appraisal system for the new strategy frame.This article is divided into nine parts:The first part is introduction. In this part some problems are given from theory and practice to explain why relationship marketing is important for enterprises and limitations of existing relationship marketing. The purpose and method of research of this article are also explained and some creative ideas are provided. Last, ideas and research structure are introduced in this part.The second part is about the remark of relationship marketing. We review the history of relationship marketing in this part. Through the analysis of history we can see that transaction theory paid too much attention to short-term transaction and pattern, which does not adapt the market and the economical development and the phrase from marketing theory to relationship marketing theory. Although the existing relationship marketing theory has overcome the limitations of transaction marketing to a certain extent and starts to focus on relationship between customers and enterprises, the vision of research is narrow. This research hasn't realized the influence from more widespread stakeholders in business environment and how to manage the different stakeholders. Though existing relationship marketing surpassed the limitations by using internal limited combination to deal with exterior infinite change, it lacks a strategic tool to combine internal and exterior elements of enterprises to consider each stakeholder comprehensively.The third part is about relationship marketing theory development—stakeholder theory method. In this part, we analyze the theory and the realistic background which the stakeholder theory forms, reorganize the main points of stakeholder, introduce systematically the stakeholder theory, summarize the application from stakeholder theory to relationship marketing theory, and carry on several aspects which could be used in relationship marketing.The fourth part is about connotation of relationship marketing based on stakeholder. We provide a wider definition of relationship marketing directed by stakeholder based on research of original customer-oriented relationship marketing. And we analyze the construct principles of relationship marketing based on stakeholder and characteristics and surmounting to original relationship marketing.The fifth part is about construct of procedure of relationship marketing strategy based on stakeholder theory. In this part we propose a four-step method to make the relationship marketing strategy incorporate the different stakeholders.The sixth part is about the implementation of the relationship marketing strategy based on stakeholder theory. In this part, we analyze the two dimensional matrix and propose an expanded three dimensional matrix in the foundation of original stakeholder strategy matrix. Thus, a practical method and tool which could classify the stakeholders in relationship marketing is forming for enterprises.The seventh part is the analysis of supporting essential factors. Relationship marketing strategy based on stakeholder is a complex systems engineering. Its smooth movement needs support and the coordination from many departments and elements. Therefore, the enterprise should strengthen ideas based on stakeholder, focusing on stakeholders' benefits, promoting better movement of relationship marketing based on stakeholder theory from organization structure, human resource management, culture and informationization.The eighth part is about the performance appraisal of relationship marketing strategy based on stakeholder theory. In this part we put forward with the requirement and the principle of the constructing the performance appraisal system of relationship marketing strategy based on stakeholder theory. We also try to test the effect of the implementation of the relationship marketing strategy based on stakeholder theory by statistical analysis.The ninth part is the conclusion. In this part it concludes the whole article and makes a conclusion. Furthermore, some statements about limitations and further research are expounded.