Do some independent research. Find an article or editorial which identifies the stakeholder model and advances its thesis. Do you think the author makes a compelling case for this model?
Stakeholder model for implementing social responsibility in marketing
I did some independent research and was able to identify a Stakeholder model by Maignan, Ferrell & Ferrell, (2005). This is a comprehensive model that discusses the different stakeholders involved in the marketing practices and the social responsibilities of businesses when engaging in these marketing practices. The model has described different stakeholders and discusses the issues related to these stakeholders. In the following discussion I would like to discuss these stakeholders and the social responsibilities of the marketers when dealing with these stakeholders.
Employees: Employees of the businesses are important stakeholders. When marketing firms are utilizing the services of their employees, they must also be aware of the needs of these employees. There is a need to realize the ethical responsibilities by the businesses when dealing with their employees. For example there should be a compensation system for the employees. These employees should be provided with opportunities to have proper training to be able to perform their duties effectively.
Customers: Customers are targeted with marketing campaigns. Marketers should not just focus on maximizing their sales by presenting false and exaggerated information in their advertisement. They should be able to identify their ethical responsibilities. For example advertisement to children is a really sensitive issue. Marketers should be able to recognize their boundaries and limitations when advertising to children.
Investors: Marketers must be aware that they have investors behind the businesses that they are marketing for different products and services. There should be a transparent mechanism in place that makes and effective communication with the investor possible.
Community: Marketers should be aware of the community health and safety protection issues. Marketers should communicate with the local communities and try to run marketing campaigns that benefits the business and somehow benefits the local communities.