Towards a Categorization of Stakeholder Groups: An Empirical Verification of a Three‐Level Model

This study focuses on a categorization of different stakeholder groups, specifically on their power in relation to a company. Stakeholder theory argues that the company must be seen throughout numerous interactions with its stakeholders. Within the marketing communications field, the theory draws attention to communication (dialogue) with different stakeholders, not only consumers. An empirical verification of a three‐level stakeholder model is presented in the study. The results, based on a sample of employees in marketing communications and public relations agencies, show that three different levels of exchange and communication – inevitable, necessary and desirous levels – can be expected. Authors argue that such a result has important implications for marketing communications. A company can achieve optimal effects with a rational management of communication resources, according to different stakeholders' importance to the company and their power.