1.3.2 Branding and Promotion Flashcards
What is Promotion?
The USE of MARKETING TOOLS to BRING a product or service to the ATTENTION of POTENTIAL BUYERS
What are 6 Types of Promotion?
- Personal Selling
- Direct Marketing
- Above the line advertising
- Below the line advertising
- Public Relations
- Sponsorship
What does Above the Line advertising involve?
2 Examples
Involves MASS MEDIA METHODS for TARGETING LARGER and more general CUSTOMERS
- radio
- tv
What are 2 Advantages and 1 Disadvantage of Above the Line Advertising?
+ TAILORED to reach a MASS AUDIENCE
+ great for building brand awareness
- VERY EXPENSIVE , difficult to measure clear results
What is Below the Line advertising?
3 main methods
the same as direct marketing for REACHING SMALLER but MORE TARGETED
- social media marketing
- events
- search engines
What are 2 Advantages and Disadvantages of Below the line advertising?
+ EASY and INEXPENSIVE to use SOCIAL MEDIA to increase brand awareness
+ more targeted to specific NICHE segments
- extensive training on working social media
- DEEPER UNDERSTADNING of CUSTOMER or buyer BEHAVIOUR REQUIRED
What is Direct Marketing?
Highly focused TARGETED MAIL BASED on what CUSTOMERS have BOUGHT BEFORE
Can be email or by post
What are 6 Types of Sales Promotions?
1) BUY ONE GET ONE FREE - to encourage customers to go into shop and buy
2) PRICE DISCOUNTS
3) MONEY OFF COUPONS- used to capture new customers to add an incentive
4) SAMPLES/GIVEAWAYS - free sample to persuade customers to try product
5) SPECIAL EVENTS - encourages customers to try the product
6) POINT OF SALE - cardboard display stand located close to the till within a shop
What are 6 types of Digital Communications used to promote products and services?
1) Online adverts
2) Mobile communications
3) Advergaming - a video game that contains an advert for a product/service/business
4) Social media
5) Consumer generated content - any form of content, e.g. video,blogs
6) Viral strategies
What is a Brand?
A product with UNIQUE CHARACTER, for instance in design or image. It is consistent and well recognised.
What are 4 Types of Branding?
1) Manufacturer / Corporate Branding
2) Product Branding
3) Own Brand Products
4) Rebranding
What is Manufacturer / corporate branding?
Aims to BUILD COMMUNICATIONS and relationships BETWEEN the MAIN BUSINESS NAME and the CUSTOMERS
The Business may own a range of brands E.g. Nestle and Kitkat
What are 2 Benefits of Manufacturer/Corporate branding?
- SPREADS COST of MARKETING across all the individual brands
- AWARENESS WORLDWISE of the company can be worldwide e.g. Coca Cola
What are 2 Drawbacks of Manufacturer / Corporate Branding
- takes a LONG TIME to BUILD a SOCIAL BRAND IMAGE
- any unfavourable incidents and the whole brand suffers
What does Product Branding aim to show?
AIMS to SHOW the CUSTOMERS the FEATURES and BENEFITS OF a PRODUCT which will differentiate it from other similar products in the market
What are 3 Benefits of Product Branding?
- branded products can COMMAND HIGHER PRICES than non-branded
- businesses therefore can EXPECT HIGHER PROFITS from branded cash cows
- good branding differentiates the product and creates CUSTOMER LOYALTY
What are 2 Drawbacks of Product Branding?
- may require a HIGH INVESTMENT
- may take many YEARS to BUILD UP
What are Own Brand products?
Made by a manufacturer on behalf of a supermarket
What are 2 benefits of Own Brand Products?
- boosts CUSTOMER LOYALTY to the SUPERMARKET
- competes with manufacturer brands
What is Rebranding?
A marketing strategy in which a new : name,symbol,term,design
- will be developed for an established brand with the intention of developing a new differentiated identity
What are 3 Benefits of Strong Branding
- ADDED VALUE strong brand can add value to a product for the consumer and the business
- ABILITY TO CHARGE PREMIUM PRICES - household names can charge premium price, consumers associate these Brandnomers with consistent quality and therefore will pay a higher price for them than a non branded item
- REDUCED PED - well known brand will make product more price inelastic, less sensitive to change in demand, unlikely to settle for an inferior brand
What are 4 Ways to Build a Brand?
- USP’S / Differentiation
- Advertising
- Sponsorship
- Social Media
What are 3 Changes in branding and promotion to reflect social trends?
Viral Marketing - Consumers are encouraged to share information about a company’s goods or services via the internet
Social Media - can be used to build a brand and promote products
Emotional branding - seeks to create a bond between the co Sumer and the prodigy by provoking and emotional response to the advertising
