Stealth marketing has gained increasing attention as a strategy during the past few years. We begin by providing a brief historical review to provide some perspective on how this strategy has been practiced in a myriad of ways in various parts of the world, and how it has consequently evolved in the emerging new marketplace. A more inclusive definition of stealth marketing is then proposed to conceptually understand its use in various contexts. Specifically, we propose a new typology of stealth marketing strategies based on whether businesses or competitors are aware of them, and whether they are visible to the targeted customers. We further provide suggestions of how firms can counter the stealth marketing strategies used by their competitors. Contrary to conventional wisdom, evidence is also provided about how such strategies can be used for “doing good” for society. Finally, the assessment of efficiency and effectiveness of stealth marketing strategies, and their related ethical implications, are discussed.