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A level business theme 1 > 1.3.2 Branding and Promotion > Flashcards

1.3.2 Branding and Promotion Flashcards

1
Q

What is Promotion and why is designed?

A

Promotion is designed to inform consumers about a product, or persuade them to buy it.

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2
Q

What is promotional mix

A

The combination of promotional activities that a business uses in order to create consumer awareness and generate sales

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3
Q

What are the main element of the promotional mix?

A
  • Advertising
  • Sales promotion
  • Merchandising
  • Personal selling
  • Public relations
  • Direct Marketing
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4
Q

What are some uses of promotion?

A
  • Increase sales
  • Attract new customers
  • Encourage customer loyalty
  • Create awareness
  • Inform
  • Launch a new product
  • Encourage brand switching
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5
Q

What are the two main aims of promotion?

A
  1. Informative Advertising –> To ensure that customers are aware of the existence and positioning of
    products
  2. Persuasive Advertising –> To persuade customers that the product is better than competing
    products and to remind customers about why they may want to buy
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6
Q

What are 7 types of promotion?

A
  1. Sponsorships
  2. Personal selling
  3. Sales promotion
  4. Public Relations
  5. Direct Marketing
  6. Viral Marketing
  7. Branding
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7
Q

What are some uses of promotion?

A
  • Increase sales
  • Attract new customers
  • Encourage customer loyalty
  • Create awareness
  • Inform
  • Launch a new product
  • Encourage brand switching
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8
Q

What key factors influence promotional decisions and strategy?

A
  • Stage in the product’s life cycle
  • Nature of the product
  • Competition
  • Marketing objectives and budget
  • Target Market
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9
Q

What are the advantages of advertising?

A
  1. Wide coverage
  2. Control of message
  3. Repetition means that the message can be communicated effectively
  4. effective for building brand awareness and loyalty
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10
Q

What are the disadvantages of advertising?

A
  1. Often expensive
  2. Impersonal
  3. One way communication
  4. Lacks flexibility
  5. Limited ability to close a sale
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11
Q

What is Personal Selling?

A

Promotion on a person-to-person basis

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12
Q

What are the advantages of personal selling?

A
  1. High customer attention
  2. Message is customised
  3. Persuasive impact
  4. Potential for development of relationship
  5. Adaptable
  6. Opportunity to close the sale
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13
Q

What are the disadvantages of personal selling?

A
  1. High cost
  2. Labour intensive
  3. Expensive
  4. Can only reach a limited number of customers
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14
Q

What are some examples of sales promotion?

A
  • Coupons
  • Money off of product
  • Free samples
  • Loyalty points
  • Free gifts
  • BOGOF
  • Merchandising
  • Trade in offers
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15
Q

What are the advantages of sales promotion?

A
  1. Effective at achieving a quick boost to sales

2. Encourages customers to trial a product or switch brands

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16
Q

What are the disadvantages of sales promotion?

A
  1. Sales effect may only be short-term
  2. Customers may come to expect or anticipate further promotions
  3. May damage brand image
17
Q

What is Public Relations (PR)?

A

Communicating with the media such as newspapers, television and radio in order to get favourable publicity for the organisation.

18
Q

What are typical PR activities?

A
  • Promoting new products
  • Enhancing public awareness
  • Projecting a business image
  • Promote social responsibility
  • Projecting business as a good employer
  • Obtain favourable product reviews / recommendations
19
Q

What is sponsorship?

A

A method of promotion in which a business gives money to an organisation or event. In return, the organisation or event displays the business’s name.

20
Q

What is Direct Marketing?

A

It is promotional material directed through mail, email, social media or phone to individuals or businesses

21
Q

What are the advantages of direct marketing?

A
  1. Focus limited resources on targeted promotion
  2. Can personalise the marketing message
  3. Easy to test different marketing messages
  4. Cost-effective if customer database is well-managed
22
Q

What are the disadvantages of direct marketing?

A
  1. Negative image of junk mail and email spam

2. Databases expensive to maintain and keep accurate

23
Q

What is Viral Marketing?

A

Uses social media and online platforms to try to produce increases in brand awareness or to achieve other marketing objectives

24
Q

What is a Brand?

A

A clear and obvious logo, name or statement that customers can instantly recognise as being related to a certain product or business.

25
Q

What are the benefits of effective/strong branding?

A
  1. Adds value
  2. Able to charge higher prices, and demand is more inelastic
    –> If a product is inelastic, a business can charge a higher price because a price decrease
    will only very slightly reduce demand.
  3. Builds customer loyalty
26
Q

What way are their to build a brand?

A
  1. USP / Differentiation
  2. Advertising
  3. Sponsorship
  4. The use of social media
27
Q

What are the types of branding?

A
  • Product brand
  • Service brand
  • Umbrella (‘family’) brand
  • Corporate brands
  • Own-label brands
  • Global brand
28
Q

What is a Product Brand?

A

Brands associated with specific products.

29
Q

What are the advantages of product branding?

A
  1. Branded products can charge a higher price than non-branded products
    - -> Businesses therefore can expect higher profits from branded cash cows
  2. Good/Effective branding differentiates the product and creates customer loyalty
30
Q

What are the disadvantages of product branding?

A
  1. Product branding may require a high investment

2. Product branding may take many years to build up

31
Q

What is a Service Brand?

A

Brands that add perceived value to services, either delivered face-to-face or via online & apps

32
Q

What is an Umbrella (‘Service’) Brand

A

Brands that are assigned to more than one product. Umbrella branding makes different product lines easily identifiable by the consumer by grouping them under one brand name.

33
Q

What is a Corporate Brand?

A

A corporate brand promotes the brand name of a corporate entity, as opposed to specific products or services.

34
Q

What are Own-Label Brands?

A

Retail outlets assign their corporate branding to a range of goods and services
–> E.G.Essential Waitrose, Tesco finest, Sainsbury’s basics etc

35
Q

What are Global Brands?

A

Brands which are easily recognised and operates worldwide.

36
Q

What is Brand Extension?

A

When a business uses a brand name on a new product that has some of brand’s characteristics

37
Q

What causes changes in branding and promotion to reflect social trends?

A
  1. Viral Marketing
  2. Social Media
  3. Emotional Branding

A level business theme 1 (24 decks)

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