1.3.2 - Branding and Promotion Flashcards
Promotion definition
The way in a business makes its products known to the customers, both current and potential
What is above the line promotion?
Advertising
What is below the line promtion?
Any promotion that is not advertising
Advertising definition and advantages/disadvantages
Promotion which occurs though paid channels such as television, radio and magazines
ADV
- Reach large audiences
- Can be specific to promote brand image
- Expansion of market/target market
DIS
- Expensive
- Many ignore adverts
- Can be difficult to assess effectiveness
Direct Marketing definition and advantages/disadvantages
Involves communicating directly with customers though email, text message, social media etc
ADV
- Can reach specific target audiences
- Measurable through results and can therefore adjust
DIS
- Can be intrusive
- Can be costly
- May not have specific/established customer base
Sales Promotions definition and advantages/disadvantages
Marketing technique which encourages purchases by offering incentives such as free samples, buy one get one free, loyalty cards etc
ADV
- Can boost sales and engagement
- Can help clear stock to introduce new products
- Encourages impulse purchases
- Targeted to specific audiences
DIS
- Can be expensive
- May not lead to loyal consumers
- May reduce other sales
Personal Selling definition and advantages/disadvantages
Occurs when a salesperson interacts with potential customers one-on-one through in person or digital
ADV
- Builds relationships for specific needs
- Personalised guidance and advice
DIS
- Can be expensive to hire staff for it
- May be difficult to scale
Sponsorship definition and advantages/disadvantages
Agreement where a company provides financial or other support in exchange for marketing exposure
ADV
- Can help build brand awareness
- Emotional connections
- Reaches new customers
DIS
- Can be expensive
- May be subject to negative publicity
Public relations definition and advantages/disadvantages
Where the business seeks to build relations with the public and manage their reputation
ADV
- Enhances businesses reputation and credibility
- Increased customer loyalty and sales
- Cost effective in comparison
DIS
- Can be time consuming
Digital Communications definition and advantages/disadvantages
Refers to any form of marketing or communication delivered electronically
ADV
- Targeted to specific consumers
- Real time feedback and engagement
DIS
- Can be ignored
- Significant investment in technology
- Data privacy regulations
- May not be effective for older consumers etc
Branding definition
A product, service or concept that is publicly distinguished from other products, services or concepts so that it can be easily communicated and usually marketed.
Reasons for branding
- Establishes recognition
- Builds trust and recognition
- Differentiates from competitors
- Can support marketing and advertising
Corporate branding definition and adv/dis
Refers to use of a company name/logo to promote all products and services
ADV
- Creates strong brand reputation and recognition
- Allows easier introduction of new products
- Reduces marketing costs
DIS
- If negative publicity can affect all products
- Intense competition may also affect all products
Product branding definition and adv/dis
Refers to use of unique name/design to promote
ADV
- Can differentiate from competitors
- Allows to meet different market segments
- Can build loyalty by associating products with specific quality
DIS
- Cost for promoting each new product
- Build new brands for each product
- Different levels of quality are harder to gain loyalty
Own brand product definition and adv/dis
Refers to use of retailers name to promote specific products (mainly supermarkets)
ADV
- Help to differentiate themselves
- Low cost to increase sales
- Loyalty
DIS
- Lower perceived quality
