1.3.2 Branding and promotion

Question 1

What is promotion?

Answer 1

Promotion is an important element of the marketing mix as it plays a crucial role in generating customer awareness, interest and desire for a product/service.

Question 2

7 Types of promotion?

Answer 2

/Digital communications
/Sponsorship
/Public relations
/Advertising
/Direct marketing
/Sales promotion
/Personal selling

Question 3

Explain advertising and give one advantage and disadvantage?

Answer 3

Advertising is when promotion occurs through paid channels such as TV. A positive of this is it can reach large audiences while a negative is it can be expensive.

Question 4

Explain direct marketing and give one advantage and disadvantage?

Answer 4

Direct marketing involves directly communicating with customers through emails/texts etc. A positive of this is it can target specific audiences while a negative is it can be seen as intrusive as many customers will see it as spam.

Question 5

Explain sales promotion and give one advantage and disadvantage?

Answer 5

Sales promotion involves offering temporary incentives or discounts such as free samples. A positive of this is that it can encourage impulse purchases however it may reduce sales of full-price product due to marginal utility.

Question 6

Explain personal selling and give one advantage and disadvantage?

Answer 6

Personal selling occurs when a salesperson interacts with a customer one-on-one such as in a car dealership. A positive of this is that it allows businesses to build relations with customers however can be expensive to train and employ staff.

Question 7

Explain sponsorship and give one advantage and disadvantage?

Answer 7

This is an agreement in which a company provides financial or other support to an event, team, or organization in exchange for marketing exposure. A positive of this is that it can build brand awareness however can be expensive especially for high profile events.

Question 8

Explain public relations (PR) and give one advantage and disadvantage?

Answer 8

The business seeks to build relationships with the public and manage their reputation. A positive of this is that it can enhance a businesses reputation however PR can be time consuming and difficult to measure.

Question 9

Explain digital communications and give one advantage and disadvantage?

Answer 9

Refer to any form of marketing or communication that is delivered electronically. A positive of this is that it can be highly specified to certain customer segments however may not be effective for reaching older or less digitally-savvy customer segments.

Question 10

What are the 3 types of branding?

Answer 10

/Product branding
/Own brand product
/Manufacturer and corporate branding

Question 11

Explain manufacturer and corporate branding and give one advantage and disadvantage?

Answer 11

This refers to the use of a company name or logo to promote all the products or services offered by the company. A positive of this is that it creates strong brand recognition and reputation however if a companies reputation is damaged then it can have a negative impact on all the companies products.

Question 12

Explain product branding and give one advantage and disadvantage?

Answer 12

This refers to the use of a company name or logo to promote all the products or services offered by the company. A positive of this is that it can differentiate the company from its competitors however the cost of creating and promoting a new brand for each product can be quite high.

Question 13

Explain own brand product and give one advantage and disadvantage?

Answer 13

Own brand or private label branding refers to the use of a retailer’s name to promote a specific product or service and is often used by supermarkets. A positive of this it can help retailers to differentiate themselves from their competitors however it can give lower perceived quality.

Question 14

Benefits of branding?

Answer 14

/Adding value
/Ability to charge premium prices
/Reduced price elasticity of demand

Question 15

Explain adding value?

Answer 15

Strong branding can add value to a product by creating a perception of quality, reliability, and trust.

Question 16

Explain ability to charge premium prices?

Answer 16

Customers may be willing to pay more for a product that is associated with a well-established brand as they perceive products with strong branding to be of higher quality and therefore worth the extra cost.

Question 17

Explain reduced price elasticity of demand?

Answer 17

Strong branding can also reduce the price elasticity of demand for a product. This is because customers who are loyal to a brand are more likely to continue purchasing the product even if the price increases.

Question 18

Ways to build a brand?

Answer 18

/USP
/Advertising
/Sponsorship
/Use of social media

Question 19

Explain USP’s?

Answer 19

USPs are the features that make a product/service stand out from its competitors.

Question 20

Explain advertising?

Answer 20

Brands can create compelling ads that resonate with their target audience, raise brand awareness, and communicate their value proposition.

Question 21

Explain sponsorship?

Answer 21

Partnering with events, organisations, or individuals can help brands gain exposure and build their reputation by aligning themselves with positive associations or values.

Question 22

Explain use of social media?

Answer 22

Partnering with events, organisations, or individuals can help brands gain exposure and build their reputation by aligning themselves with positive associations or values.

Question 23

What three social trends are businesses currently aware of?

Answer 23

/Viral marketing
/Social media
/Emotional branding

Question 24

Explain viral marketing?

Answer 24

Partnering with events, organisations, or individuals can help brands gain exposure and build their reputation by aligning themselves with positive associations or values.

Question 25

Explain social media?

Answer 25

As social media platforms evolve, businesses must also adapt their social media strategies to keep up with the latest trends.

Question 26

Explain emotional branding?

Answer 26

Emotional branding is a strategy where companies build strong emotional connections with their customers by appealing to their values, beliefs, and emotions.