Category: IMC

Advice I would give to someone who is new to the industry about ethical practices would be to be honest, take responsibility, try and be as fair as possible, be respectful, and be transparent. Being honest within the company and those working with the company, meaning, being straightforward and truthful about the products and/or services and situations. Taking responsibility is important, especially, in situations where mistakes have occurred. Owning up to those mistakes, and taking any constructive criticism well. Trying to be as fair as possible by balancing needs and interests to the best of your ability. Respect will go a long way when dealing with people in general, whether within the company with employees, or outside the company with clients. People are more understanding, more willing to accommodate, more willing to work with each other when respect is given and when they feel respected. Transparency can create a spirit of openness which is important when trying to create an ethical business of any kind.

Resources:
Code of Conduct | AMA Statement of Ethics

Tactics are things you will do on a daily basis: replying to emails, tweeting, reaching out to bloggers/vloggers, etc. while strategies are the overall vision of how you will accomplish your goals and objectives.

SMART (specific, measurable, attainable, realistic, and timely) goals are important to any marketing campaign. These goals will help keep a company stay on track while also measure their growth. There are 5 questions you should ask yourself while setting SMART goals; one for each letter of SMART.

Specific — Can the detail in the information sufficiently pinpoint problems and opportunities?Measurable — Can a quantitative or qualitative attribute be applied to create a metric?
Actionable — Can the information be applied to the specific problem faced by the manager?Relevant — Can the information be applied to the specific problem faced by the manager?
Timely — Can the information be viewed through time to identify trends?

In specific to Little Launcher, the new pet toy designed for both dogs and cats at SNHU Pet Supply, one example of a strategy would be getting sales for the Little Launcher, from existing customers. The tactic to this strategy would be to email existing customers who have purchased anything dog or cat related with an announcement of the product, along with an exclusive price for previous customers or a discount code of some sort.

If you use a discount code specific to existing customers for the Little Launcher, the sales can be tracked based on how many times the discount was used.

One key performance indicator (KPI) the company could use is the Marketing Originated Customers metric, especially since the pet store has been using more traditional uses of marketing up until this point. This metric gives the company a view into how much of the customer base is driven by marketing. This could be beneficial and crucial, because if the marketing strategies aren’t working, the company needs to know so they can revamp their plan and strategies. This would also be helpful for the company, since they’re use to traditional marketing over integrated marketing.

Resources:

Marketing Strategy vs. Tactics: Explaining the Difference

Marketing Originated Customers