1.3.2 Branding And Promotion Flashcards
What are the below-the-line types of promotion
- sales promotions
- personal selling
- direct marketing
- public relations PR
- sponsorship
- merchandising
explain and evaluate personal selling
- Salespeople act on behalf of the organisation
- well-trained people with knowledge about the products
+ allows people to engage with someone ask questions, gain trust for the business
X people may find it intrusive and not engage, this can also negatively affect brand image
X this may make it inefficient as the salespeople do not engage with enough people
What is direct marketing
- highly focused mail based on the customer’s activity
- carefully tailored to re-engage customers
What is above-the-line advertising (give example)
- advertising through mass media that the business pays for
- targets a large audience and general customers
E.g. radio or TV
What is below-the-line advertising (give example)
- Direct marketing for reaching smaller and more targeted customer bases
E.g. leaflets, posters, local radio
What are public relations
- Aims to build a relationship between the business and the public
- unpaid communication about an organisation in mass media
What is sponsorship
Positive association of a product/service with a popular celebrity or sport
Define branding
- A brand is a characteristic name or symbol that distinguishes one product from another supplier
- characteristics that make a business recognisable
Name all the types of branding
- manufacturer/corporate branding
- product branding
- own brand products
- rebranding
What is manufacturer or corporate branding
- aims to build communications and relationships between the business name and the consumer
- business may own several brands e.g. nestle owning Kitkat
- may use images and slogans to establish brand
Pros and cons of corporate branding
Pros
- spreads cost of marketing across all brands
- awareness of the company can be worldwide
Cons
- time consuming to build a solid brand
- unfavourable incidents affect whole brand
- too much advertising causes indifference towards the brand
What is product branding
- Aims to show the customer the feature and benefits of a product to differentiate it
Pros and cons of product branding
Pros
- well branded products can command higher prices = higher profits
- builds customer loyalty
Cons
- branding requires high investment
- branding can take years
- limited flexibility when developing the brand
What are own brand products
products made by a manufacturer on behalf of a supermarket
Pros and cons of own brand products
Pros
- builds customer loyalty for the supermarket
- competes with brands
- fills gaps left by competition (low pricing)
Cons
- some products can be bad
What is rebranding
- Marketing strategy in which a new name, symbol, term, design or combination is developed
- aims to differentiate identity amongst customers, investor and competition
What are the benefits of strong branding
- added value
E.g. the kudos of designer clothes - the ability to charge premium prices
E.g. Vaseline + biro - reduced PED and YED
Consumers are likely to pay for the brand despite price changes - brand loyalty
- aids new product development, consumers more confident to purchase products from trusted recognisable brands
Name the ways to build a brand
- ULTIMATELY built through promotion
- USP’s /differentiation- helps convince customers for one brand over another
- advertising, maintains consumer awareness
- sponsorship
- social media, viral marketing on social media such as TikTok can spread brand awareness at a rapid rate, this can be a low cost technique if successful, however a business may experience a loss of control on social media as negative images spread
What is emotional branding
Branding Triggers an emotional response so people buy the product
E.g. maltesers have created an emphasis on sharing and enjoying time with friends
- this type of branding requires lots of market research
what is merchandising and how is it achieved
- refers to how the product is displayed and laid out to be eye-catching
- posters, leaflets, lighting
- business would also want to keep shelves well stocked to convey a positive image
what is sales promotion and how is it achieved
- incentives encouraging people to buy
- includes coupons, free gifts, loyalty cards etc.
- helps boost sales in the short term
- can be used to gain increased market share
- can also be used to maintain customers
