Strategic Marketing and Management Guide
Classified in Training and Employment Advise
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Stakeholder Management
Understanding Stakeholders:
- Identify stakeholders and assess their relative importance, power, and interests.
- Develop strategies for building and managing relationships with key stakeholders.
- Identify potential risks associated with stakeholder relationships.
Benefits of Effective Stakeholder Management:
- Improved decision-making by considering stakeholder perspectives.
- Greater acceptance of organizational actions by stakeholders.
Challenges and Considerations:
- Stakeholder analysis can be subjective.
- It may not be possible to meet all stakeholder interests simultaneously. Prioritize the most important stakeholders and strive to balance and reconcile interests based on importance and urgency.
The 4 Ps of Marketing
Product/Service
- Customer