Multi-stakeholder marketing in practice: actionable advice for responsible marketers

Purpose This study bridges the gap between the theory and the practice of multi-stakeholder marketing (MSM) by accomplishing three main goals. First, it provides examples of how MSM is operationalized into the 7Ps of the marketing mix and offers actionable insights to marketing managers. Second, it outlines the practical drivers leading to MSM. Third, it identifies firms’ clusters of MSM implementation stages. Design/methodology/approach We collected data through semi-structured interviews in a podcast format, designed and conducted by the authors of this study. The interviews involved 45 managers and entrepreneurs operating in Italy from multinational companies (MNCs) and small and medium-sizedenterprises (SMEs) in various industries. Thematic and content analyses were applied. Findings We discuss a new interpretation of the 7Ps of the marketing mix according to MSM, revealing that having a purpose-driven mindset, establishing an active dialogue with stakeholders, developing an innovation-oriented leadership and enacting a cross-functional approach within organizations can lead to adequate MSM. Research limitations/implications The study employs a qualitative analysis of 45 interviews conducted in Italy, with most firms operating in international markets, primarily with managers of MNCs and SMEs. While rich in insights, the sample limits generalizability to other contexts, opening the way for further cross-country and sector-specific qualitative and quantitative studies. Practical implications We provide actionable insights into MSM to marketing managers that derive from real-life examples and considerations developed around each of the 7Ps of the marketing mix, demonstrating how MSM can be incorporated into marketing strategies and tactics, from product development to promotion and pricing, showing successful cases from the Podcast. Originality/value This study builds a bridge between theoretical conceptualizations of MSM and its practical implementation, which is timely and relevant not only theoretically but especially for marketing professionals. Using interviews from the podcast as a data source provides an innovative, narrative and sincere methodology that enriches the discourse on stakeholder-oriented and more responsible marketing practices.