Exploring Stakeholder Value Through Mindful Marketing: The Case Of Health And Wellness Sector

The study investigates how mindful marketing strategies in Vietnam’s health and wellness sector, particularly among yoga studios, generate value for key stakeholders, including customers, employees, and the community. Through a qualitative case study involving semi-structured interviews with 28 participants, the research demonstrates that mindful marketing practices significantly enhance stakeholder well-being; fostering personal growth, community connection, and loyalty among practitioners; instructors benefit from improved job satisfaction and engagement; while the community values the inclusivity and social responsibility of these yoga studios. Theoretically, the study contributes to the fields of mindful marketing, stakeholder theory, and relationship marketing, particularly within the context of developing countries like Vietnam. Practical implications suggest that adopting mindful marketing strategies can lead to sustainable business growth by promoting authenticity, ethical engagement, and community involvement. The study concludes that mindful marketing is a holistic approach that aligns well with the wellness sector’s focus on mental and physical well-being, offering a pathway to sustainable development in emerging markets like Vietnam. Research purpose: This study aims to investigate stakeholder value in the health and wellness sector, with a focus on Yoga studios that apply mindfulness in marketing. Research motivation: Stakeholder value plays a significant role in safeguarding sustainable business practices, fostering long-term growth, and building strong association with all parties involved. Mindful marketing is a customer-centric approach that aims to create win-win solutions for the planet, people, and profit, leading to sustainable development so it is effective in creating stakeholder value. While previous literature highlights the benefits of mindful marketing in merely customer or business, the stakeholder value through mindful marketing of companies in the health and wellness sector remains underexplored. Research design, approach, and method: This study utilizes stakeholder theory and a comprehensive overview of mindful marketing. It takes on a case study analysis approach. Data was collected through semi-structured interviews conducted in some yoga studios have established a strong reputation and longevity in the Vietnam’s health and wellness sector, which applied mindfulness in marketing. Main findings: The research revealed that mindful marketing generates significant value for primary stakeholder groups in yoga studios. Well-being is the essential value derived by the three stakeholder groups. Some key benefits such as: yoga practitioners reported heightened personal growth, satisfaction and loyalty, balanced lifestyle, increased community connection. Instructors and staffs experienced enhanced engagement with customers and studio, productivity and creativity, improved professional performance. The local community appreciated the social connection, inclusivity and responsibility of studio’s commitment. By optimizing stakeholder value through mindful marketing, the company has opportunity to achieved sustainable long- tearm business development. Practical/managerial implications: The study suggests that yoga studios in Vietnam can achieve sustainable growth by adopting mindful marketing strategies. Studios can focus on authenticity and ethical engagement by offering personalized wellness programs that address both mental and physical health. Additionally, fostering a workplace culture grounded in mindfulness can improve employee retention, while participating in community and environmental initiatives enhances brand reputation and demonstrates a commitment to societal values.