It is extremely important that ethical behavior be encouraged and established in your marketing group. You must develop a fixed set of guidelines in order to manage the distribution network of your business as well as handle the pricing of products. Ethical marketing may be considered a process via which companies generate customer interest in different services and products, build strong customer relationships and interests, establish value for all stakeholders by incorporating environmental and social considerations in promotions and products. In fact, ethical marketing signifies a chain reaction of ethical principles that holistically flows into various aspects of the marketing processes of a company, from the final sale to the customers to market research. Even though the task is worthwhile, it is not always simple.
Crafting Ethical Guidelines
Crafting ethical guidelines is not simple for the modern business organizations due to the greater emphasis that is placed on both the government and businesses to enact regulations, laws, oversights and protect the stakeholders. In the process of demonstrating the workings of ethical marketing, certain standards must be developed for ethical behavior in the organization. Based on the current scenario, the management of the company’s distribution network is undertaken along with product pricing.
When it comes to the field of marketing, it becomes necessary for all the employees to treat each other with dignity and respect. They should take care of the needs of customers and clients and foster beneficial business alliances with other stakeholders. It is necessary for all the supply chain members and employees to obey the applicable laws and regulations of the company. It is responsibility of the organization to provide a secure and safe work environment for the employees. However, every person must be held accountable for their own personal welfare and begin protecting the environment. All the ethical conduct within the organization must be handled with due process and in honorable fashion. However, any sort of retaliation for raising ethical issues must not be tolerated at all and the consequence must include the immediate termination of employment. All the employees in the organization are expected to avoid any sort of conflicts of interest between their personal affairs and the interests of the company.
Despite having various guidelines in place in an organization, the employees should never think that the ethical guidelines are being forced onto them. While undertaking the whole development of ethical standards, employees need to be a part of the process if they truly wish for an employee buy-in. In fact, the interaction between stakeholders happens to be a significant element in the field of ethical behavior for an organization. Employees must understand the significance of creating good relationships with all the stakeholders in an organization, rather than simply the employees when it comes to the topic of marketing. If ethical discussions and decisions are to take place in marketing organizations, it is the duty of the managers to shape the corporate culture in such a way that it remains hospitable to these sorts of outcomes.
The process of marketing is not really simple and in order to have an effective business, it becomes necessary for you to understand what is involved in promoting the products or services you are offering to the customers. This is exactly the point where a good marketing initiative comes into play and it can essentially be anything that has a clearly defined outline in terms of marketing efforts. It can be specifically anything that is included in your marketing plan.
The marketing initiative often involves a specific theme that will be capable of drawing customers to the product or service. The initiative is to associate the products with a theme that sticks in the mind of the audience. Undertaking a specific method in a relentless manner might also be a great marketing initiative. In many cases, the efforts may be focused solely on a single method of marketing. You should keep a few methods in mind since if you have only a single initiative chalked out. A backup marketing plan always helps in this case.
One of the most significant types of marketing initiative involves a large scale shift in the operations of the business. In case you have opted away from the traditional marketing to focus exclusively on using the Internet, it may open up an entirely new marketing initiative. Be sure to understand that the old initiatives are slowly phased out as the new ones take over.
A marketing initiative may be as simple as a shifting of ideas and you may have a new marketing initiative that simply alters the way you promote your business, especially what sort of products or services you are attempting to promote. Positioning shifts may also occur.
If you are the owner of a small business, chances are that you spend a great deal of time in trying to come up with new methods to gain potential customers for your business. The process of marketing can either or stressful or fun and the most important point is to understand which type of marketing is going to be fruitful for your business. Rather than spending the budget allotted for marketing in various directions without any particular point in mind, you can choose a certain type and remain consistent with it. In time, you are going to notice that your marketing budget pays off great rewards in a short period.
When trying to steer your small business in the right direction, you are bound to experiment with blanket marketing which is a marketing process often used by bigger businesses. This sort of marketing tactic means that you spend a lot of money advertising to everyone. Most people tend to carry out blanket marketing by placing advertisements in newspapers and magazines. You really do not have much control when it comes to determining who will see your advertisement but you will benefit from the potential to reach a large section of people. However, this marketing strategy can often be rather expensive and you might end up wasting money marketing to people who might never become customers of your business. This process of marketing, therefore, works best for small businesses which have a large amount of funds available and who feel that they might be able to benefit from various customers.
This type of marketing involves choosing a specific demographic and marketing only to them. This means that the business needs to advertise in such a way that it impacts a certain area or everyone in a specific age range. One of the best features of targeted marketing is the fact that you have a greater chance of attracting customers since you advertise to the people who have the potential to be interested in your business services. However, on the other hand, targeted marketing requires you to do a bit of research beforehand to determine who the target will be and the right way to approach them.
Social Media Marketing
Social Media Marketing is a relatively young concept in the field of marketing and you can use any one of the popular social media websites to advertise your company. This type of marketing offers a lot of flexibility and freedom and you can even use a daily blog to attract potential customers towards your business. You might have to update your blogs from time to time though or people might stop taking an interest in the content.