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A Level Business Year 12 Until 1.3.5 > 1.3.2 Branding And Promotion > Flashcards

1.3.2 Branding And Promotion Flashcards

1
Q

What is promotion used for

A
  • Tell consumers about a new product
  • Remind customers about an existing product
  • Reach a widely dispersed, target audience
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2
Q

Definition: Promotion

A

• The use of marketing tools to bring a product or service to the attention of potential buyers

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3
Q

Types of promotion

A
  1. Personal selling
  2. Direct marketing
  3. Above-the-line marketing
  4. Below-the-line marketing
  5. Public Relations (PR)
  6. Sponsorship
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4
Q

What is personal selling?

A

• Personal selling is an effective way to manage business to customer relationships
• The sales person acts on behalf of the organisation and is useful to customers as a technical advisor
• Sales people are well trained in the approaches and techniques of personal selling
• However, sales people are very expensive in terms of salary, training, commission

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5
Q

What is direct marketing

A

• Highly focussed targeted mail based on what customers have bought before
• Can be e-mail or by post
• May be special offers to re-engage customers who have stopped buying
• Carefully tailored to items that customers have bought before e.g. holidays, hotels, travel deals

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6
Q

What is above the line advertising?

A

• Above-the-line (ATL) marketing involves mass media methods for targeting larger and more general customers
• Radio
• TV
• Cinema
• Print adverts e.g. in newspapers and major magazines
• Outside adverts e.g. billboards

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7
Q

Above-the-line advantages and disadvantages

A

Advantages:

• ATL is tailored to reach a mass audience
• Advert communication is repeated so the message is clear e.g. “simples” and “go compare”
• Great for building brand awareness

Disadvantages:

• Disadvantages are that this is a very expensive method and it is difficult to measure clear results from campaigns
• Very expensive e.g. A radio ad on a national station can cost about £10,000 for a week

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8
Q

Below the line Advertising

A

• Below-the-line (BTL) marketing is the same as direct marketing for reaching smaller but more targeted audiences
• The main methods include:
• Public relations e.g. Ryanair PR
stunts
• Search engines
• Events e.g. restaurant launch
• Social media marketing

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9
Q

Below-the-line advantages and disadvantages

A

Advantages :

• Easy to measure if the campaign has reached an audience e.g. through number of website visits, conversion rates, click through rates
• Easy and inexpensive to use social media to increase brand awareness
• BTL is more targeted to specific niche segments rather than aiming at the whole mass market

Disadvantages :

• Extensive training on working social media and IT may be needed for marketing staff
• Deeper understanding of customer or buyer behaviour is required e.g. what do they read, what websites do they visit
• Targeting diverse cultures with the same theme is difficult

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10
Q

Public Relations

A

• Public relations is also known as PR
• PR aims to build a relationship between the business and the public, to create a favourable corporate image
• PR is unpaid communication about an organisation which appears in mass media
• PR can include publicity stunts

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11
Q

Public relations long-term

A

• PR is a long-term not a short-term strategy
• PR is very low expenditure –e.g. a business could send its products to the local paper for a “review”
• PR gives the business less control over what is said BUT consumers find it more believable / authentic

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12
Q

Sponsorship

A

• Positive association of the product with a celebrity or a sport
• Can be very expensive e.g. £125m
• Difficult to tell what impact this has on brand loyalty or sales

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13
Q

Different sales types of sales promotions?

A
  1. BOGOFF
  2. Price discounts
  3. Money off coupons
  4. Samples / giveaways
  5. Special events
  6. Point of sale
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14
Q

What is BOGOF?

A

❑ BOGOF stands for buy one get one free
❑ In a BOGOF sales promotion a business offers one item free when another one is bought
❑ Used to encourage customers to go into the shop or buy the item

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15
Q

Advantages of BOGOF?

A

✔ Very popular with shoppers
✔ Encourages trial and use of the product
✔ Good way to encourage shoppers to switch from their normal brand
✔ Boosts sales, therefore sales revenue will increase

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16
Q

Disadvantages of BOGOF?

A

£ Loss of profit because there is an increase in costs, this will not be balanced by the increase in sales
£ Only useful in the short-term

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17
Q

Price discounts

A

Price discounts means that the normal RRP (recommended retail price) of the product or service has been reduced

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18
Q

Advantages of price discounts

A

Great way to clear old or out-of-date stock

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19
Q

Disadvantages of price discounts

A

£ Customers may regard the business as a cheap option
£ Too many discounts and customers become suspicious
e.g. the DFS sale that is always on

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20
Q

Money off coupons

A

❑ Coupons can be used to capture new customers – to add an incentive
❑ Coupons can also be used with existing customers to encourage an impulse spend
❑ Companies like BZZ agent give out coupons in return for reviews

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21
Q

Advantages of Money off coupons?

A

✔ Coupons can help the customer feel they are getting better value for money
✔ Coupons are available from websites, loyalty cards, store magazines and on the back of some packs to encourage repeat purchase

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22
Q

Disadvantages of Money off coupons?

A

£ Reduced profits from the cost of running the promotion
£ Some customers may be waiting for the coupons before
they purchase
£ Customers may have been wanting to make a purchase
anyway

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23
Q

Samples / giveaways

A

❑ This is where a business may send out or give customers free samples in order to persuade them to try the product for the first time
❑ Giveaways may occur on the front of a magazine e.g. matchattax cards on a football magazine

24
Q

Advantages of Samples / giveaways?

A

✔ Ideal for new product launches
✔ Works especially well with some products e.g. shampoo, food etc.
✔ Encourages word-of-mouth promotion

25
Disadvantages of Samples / giveaways?
£ Can be complicated to send in the post – needs a database of customers £ Can be expensive as giving away some of the product for free
26
Special events
❑ Special events are activities that the business does to encourage consumers to try the product ❑ Events can be; shows, fetes, fairs, or an events at the business e.g. a special tasting evening at a restaurant
27
Advantages of special events?
✔ Encourages customers to attend ✔ Rewards loyal customers with a special event ✔ Ideal for small businesses
28
Disadvantages of special events?
£ Can be expensive £ Hard to measure how valuable this marketing is
29
Point of sale
❑ Point of sale display is usually a cardboard display stand located close to the till within a shop ❑ This is to draw customer attention and trigger an “impulse” purchase
30
Advantages of point of sales?
✔ Ideal way to promote new products ✔ Works best with products that have an event or holiday tie in e.g. crème eggs for Easter ✔ Manufacturers can add extra punch to the promotion by giving a discount
31
Disadvantages of point of sales?
£ Only successful if the product meets the needs of the customer £ Needs to be designed and out to stores in time for the event / holiday £ Displays may be put in poor locations by shops e.g. next to a broken till or one that is rarely opened
32
Different types of digital communications?
1. Online adverts 2. Mobile communications 3. “Advergaming” 4. Social media 5. Consumer generated content 6. Viral strategies
33
Advantages and disadvantages of online adverts?
✔ Powerful ad management tools can deliver accurate data and statistics about effectiveness of the adverts ✔ Potential to reach large markets of customers shopping online £ Customers may ignore the ads £ Ads may get lost amongst all the content and other ads £ Click through ads can be expensive
34
Advantages and disadvantages of mobile communications?
✔ Mobile marketing can be used to extend the online reach so that customers can interact with the brand whilst on the move ✔ Doing m-commerce transactions do not require the users to plug in a computer or wait for the laptop to load • Small screen the message may be lost or distorted • Security issues of conducting transactions online • Websites now need to be adapted to be mobile friendly which can be an expensive process
35
What is advergaming ?
❑ An advergame is a video game which contains an advert for a product, service or business ❑ It may also be a corporate website that contains a game which is designed to attract customers ❑ For example in a car racing game the cars may pass billboards which are genuine adverts
36
Advantages and disadvantages of Advergaming?
✔ Customers will be concentrating on the game so are more likely to concentrate on the brand message ✔ Many games are multi-player reaching huge audiences ✔ Many consumers except that there will be adverts in games £ If the game and the brand don’t make sense together the message is lost – wrongly targeting a game with car adverts for example £ Many games are played by consumers too young to make a purchase decision
37
Advantages and disadvantages of social media?
✔ Customers can be kept informed of new products ✔ Increases customer engagement with the brand ✔ Can show customer service with a quick response • Blogs, twitter, Facebook pages all need to be updated on a regular basis which means hiring committed staff – which is an additional cost
38
What is consumer generated content?
❑ This means any form of content such as video, blogs, discussion form posts, digital images, audio files, and other forms of media that was created by consumers
39
Advantages and disadvantages of Consumer generated content?
✔ Opportunities for consumers to read reviews before they make the purchase e.g. Trip Advisor ✔ Positive responses to complaints can be very valuable marketing and reputation enhancement for the business • Consumers have lots of ways of publicly complaining about a product or service • Not just about brands anymore, now about online reputation, which could be expensive to manage (hire staff)
40
What are viral strategies?
❑ Viral marketing describes any strategy that encourages customers to pass on a marketing message to others, creating the potential for exponential growth in the message’s exposure and influence. ❑ Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions
41
Advantages and disadvantages of viral strategies?
✔ Consumers spread the message amongst themselves which reduces costs and also increase authenticity of the brand message as it is endorsed by a friend £ Can be so complex that the original message is lost £ Still new idea so hard to get funding for this kind of campaign from some of the more traditional companies
42
Definition: Branding
A brand is a characteristic name or symbol that distinguishes one product from another supplier
43
Advantages and disadvantages of Manufacturer / corporate branding
Advantages: - Spreads the cost of marketing across all the individual brands - Awareness of the company can be worldwide e.g. Coca Cola Disadvantages: -Takes a long time to build a solid brand image - Any unfavourable incidents e.g. a product recall and the whole brand suffers - Too much advertising exposure can cause indifference towards the brand
44
Advantages and disadvantages of product branding?
Advantages: -Branded products can command higher prices that non-branded - Businesses therefore can expect higher profits from branded cash cows - Good branding differentiates the product and creates customer loyalty Disadvantages: - Product branding may require a high investment - Product branding may take many years to build up - Limited flexibility when the product tries to develop new lines in the range beyond what they are known for
45
Advantages and disadvantages of Own brand products
Advantages: - Boosts customer loyalty to the supermarket - Competes with manufacturers brands - Fills gaps left by the competition Disadvantages: - Store brands are a mixed bag and can be made by numerous companies under the supermarket’s name, so ketchup might be great but cornflakes might taste like carpet tiles
46
What is rebranding?
Rebranding is a marketing strategy in which a new: • Name • Symbol • Term • Design • Or combination of the above
47
The benefits of strong branding
- added value - Ability to charge premium prices - Reduced PED : A well known brand will make the product more price inelastic- in other words it will reduce the PED
48
Ways to build a brand
- USP’s / Differentiation - Advertising - Sponsorship - Social media
49
What is a USP?
• USP stands for unique selling point – these are the small details that makes one product or business different from another • These USPs can be exploited to build the brand
50
Emotional branding
The practice of using the emotions of a consumer to build a brand
51
Generic brands
Products that only contain the name of the product category rather than the company or product name
52
Manufacturer bands
Brands created by the producers of goods or services
53
Marketing mix
The elements of a business marketing that are designed to meet the needs of customers. The four elements are often called the four ps, product , price, promotion and place.
54
Merchandising
A promotion, specifically at the point of sale of a product
55
Own-label,private brands
Products that are manufactured for wholesalers or retailers by other businesses
56
Viral marketing
Any strategy that encourages people to pass on messages to others about a product or a business electronically

A Level Business Year 12 Until 1.3.5 (10 decks)

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