Balancing Stakeholder Choices
Main Themes
- The brand is not a single asset. The brand and the business are two sides of the same system.
- There is a choice chain for each of a brand’s stakeholders. Stakeholders are free agents acting under their own volition. Their choice of your brand does not materialize automatically and cannot be taken for granted. Even so, stakeholders represent important resources in the business system.
- As with customer choice, a company has to compete continuously for stakeholders’ choices of its brand. Just as it manages customers, so it must manage each stakeholder choice chain to earn continuing choice.
- Stakeholders contribute to a company’s business in exchange for the value that it delivers to them. So ...
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