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Stakeholder analysis has become more and more popular during last years. The concept originally created for profit organizations has spread out to other sectors as well as non-profit organizations and tertiary education. This article focuses on the application possibilities of the Stakeholder Circle Methodology in the marketing communication of universities. The first step of the marketing communication strategy represents identification of the target audience. This step corresponds with the first and second step of the Stakeholder Circle Methodology – stakeholder identification and prioritization. This article focuses on the determination of the most important stakeholder groups of public and private universities, their prioritization based on the Stakeholder Circle Methodology and determination of the most urgent stakeholder groups based on the calculation of the Urgency. On the basis of the author’s research that was carried out in the market of tertiary education in the Czech Republic the most important and the most urgent stakeholder groups of private and public universities will be identified and compared differences between answers of respondents from public and private universities.