Political exchanges of value and the stakeholder concept: Implications for public affairs

Abstract

The political marketing exchange is triadic in structure, as promises given by political actors in the context of an election campaign can only be reciprocated if 1. the political actor is selected, 2. has influence over legislation negotiations, and 3. is in a position to deliver on these promises. In each of these three ‘interaction marketplaces’, political actors are indirectly influenced by stakeholders. These ‘indirect stakeholders’ are often public affairs practitioners engaged in lobbying activities in the political sphere. This paper integrates the triadic interaction model of political marketing exchange with the political marketing stakeholder concept and highlights how public affairs practitioners can target their efforts for maximum benefit. This aim is motivated by a need to increase our understanding of how political marketing theory can help political actors and their stakeholders to optimise the resources that are used on marketing activities across the electoral cycle.