How Does Internal Marketing Affect Internal Stakeholder Satisfaction?
How Does Internal Marketing Affect Internal Stakeholder Satisfaction?
In this essay I will attempt to explain how internal marketing affects the satisfaction of the internal stakeholders; I will do this by defining each of them separately, and then relating them using a real life example.
In order to answer the essay’s question, I will need to begin by explaining the concept of internal marketing. First of all clarifying that marketing is the process or even the art that anticipates and conceives products and services that will satisfy the consumers needs; but it is also the philosophy behind the pricing, placement of the product and the selection of the target market. (American Marketing Association 2004)
I can now explain that internal marketing is applying some of these philosophies to the work environment, in order to create not only a more productive work environment, due to the fact that when employees are motivated and believe in their product, they will be more capable of selling it; but it also helps to promote a bigger cooperation between departments and employees in order to help them put their personal agendas to the side, and promote cooperation in order to help the company succeed. (Davis 2001)
Internal stakeholder is an individual who has something to win or lose through the outcomes of company’s decisions, policies or financial prosperity. This includes the low rank employees like a cleaner, all the way up to the department managers and the owners or shareholders.
In my opinion, internal marketing is the key factor behind stakeholder satisfaction. I claim this due to a theory that states; if an employee is satisfied with his job and believes in what he is selling, this being a service or a product, he will be automatically more confortable and confident when in contact with his fellow staff members or a client. This confidence will translate not only in better productivity in all branches of the company, but it will also attract more buyers
In this essay I will attempt to explain how internal marketing affects the satisfaction of the internal stakeholders; I will do this by defining each of them separately, and then relating them using a real life example.
In order to answer the essay’s question, I will need to begin by explaining the concept of internal marketing. First of all clarifying that marketing is the process or even the art that anticipates and conceives products and services that will satisfy the consumers needs; but it is also the philosophy behind the pricing, placement of the product and the selection of the target market. (American Marketing Association 2004)
I can now explain that internal marketing is applying some of these philosophies to the work environment, in order to create not only a more productive work environment, due to the fact that when employees are motivated and believe in their product, they will be more capable of selling it; but it also helps to promote a bigger cooperation between departments and employees in order to help them put their personal agendas to the side, and promote cooperation in order to help the company succeed. (Davis 2001)
Internal stakeholder is an individual who has something to win or lose through the outcomes of company’s decisions, policies or financial prosperity. This includes the low rank employees like a cleaner, all the way up to the department managers and the owners or shareholders.
In my opinion, internal marketing is the key factor behind stakeholder satisfaction. I claim this due to a theory that states; if an employee is satisfied with his job and believes in what he is selling, this being a service or a product, he will be automatically more confortable and confident when in contact with his fellow staff members or a client. This confidence will translate not only in better productivity in all branches of the company, but it will also attract more buyers
References: * American Marketing Association Board of Directors 2004, Definition of Marketing, media release (accessed 1 of November 2012), http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx * Tim R.V. Davis, (2001),"Integrating internal marketing with participative management", Management Decision, Vol. 39 Iss: 2 pp. 121 – 132. Available through: University of Gloucestershire library website http://insight.glos.ac.uk/departments/lis/Pages/default.aspx (accessed 29 of October 2012). * Ipodwheels, 2007. Inside the Googleplex. (video online) Available at: http://www.youtube.com/watch?v=R90Zs60HXms (accessed 30 of October 2012).