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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?

A

The USE of MARKETING TOOLS to BRING a product or service to the ATTENTION of POTENTIAL BUYERS

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2
Q

What are 6 Types of Promotion?

A
  • Personal Selling
  • Direct Marketing
  • Above the line advertising
  • Below the line advertising
  • Public Relations
  • Sponsorship
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3
Q

What does Above the Line advertising involve?

2 Examples

A

Involves MASS MEDIA METHODS for TARGETING LARGER and more general CUSTOMERS

  • radio
  • tv
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4
Q

What are 2 Advantages and 1 Disadvantage of Above the Line Advertising?

A

+ TAILORED to reach a MASS AUDIENCE
+ great for building brand awareness
- VERY EXPENSIVE , difficult to measure clear results

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5
Q

What is Below the Line advertising?

3 main methods

A

the same as direct marketing for REACHING SMALLER but MORE TARGETED

  • social media marketing
  • events
  • search engines
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6
Q

What are 2 Advantages and Disadvantages of Below the line advertising?

A

+ 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
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7
Q

What is Direct Marketing?

A

Highly focused TARGETED MAIL BASED on what CUSTOMERS have BOUGHT BEFORE
Can be email or by post

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8
Q

What are 6 Types of Sales Promotions?

A

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

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9
Q

What are 6 types of Digital Communications used to promote products and services?

A

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

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10
Q

What is a Brand?

A

A product with UNIQUE CHARACTER, for instance in design or image. It is consistent and well recognised.

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11
Q

What are 4 Types of Branding?

A

1) Manufacturer / Corporate Branding
2) Product Branding
3) Own Brand Products
4) Rebranding

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12
Q

What is Manufacturer / corporate branding?

A

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

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13
Q

What are 2 Benefits of Manufacturer/Corporate branding?

A
  • SPREADS COST of MARKETING across all the individual brands
  • AWARENESS WORLDWISE of the company can be worldwide e.g. Coca Cola
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14
Q

What are 2 Drawbacks of Manufacturer / Corporate Branding

A
  • takes a LONG TIME to BUILD a SOCIAL BRAND IMAGE
  • any unfavourable incidents and the whole brand suffers
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15
Q

What does Product Branding aim to show?

A

AIMS to SHOW the CUSTOMERS the FEATURES and BENEFITS OF a PRODUCT which will differentiate it from other similar products in the market

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16
Q

What are 3 Benefits of Product Branding?

A
  • 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
17
Q

What are 2 Drawbacks of Product Branding?

A
  • may require a HIGH INVESTMENT
  • may take many YEARS to BUILD UP
18
Q

What are Own Brand products?

A

Made by a manufacturer on behalf of a supermarket

19
Q

What are 2 benefits of Own Brand Products?

A
  • boosts CUSTOMER LOYALTY to the SUPERMARKET
  • competes with manufacturer brands
20
Q

What is Rebranding?

A

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

21
Q

What are 3 Benefits of Strong Branding

A
  • 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
22
Q

What are 4 Ways to Build a Brand?

A
  • USP’S / Differentiation
  • Advertising
  • Sponsorship
  • Social Media
23
Q

What are 3 Changes in branding and promotion to reflect social trends?

A

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

A LEVEL BUSINESS THEME 1 (23 decks)

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