1.3.2 branding and promotion Flashcards
advertising (def.)
promotion through paid channels such as TV, radio, magazines and online
advertising adv.
wide coverage
quick
builds brand awareness and loyalty
advertising dis.
expensive
many consumers ignore ads
competitive
personal selling (def.)
promotion on a one-to-one basis, meeting with potential customers to close a sale
personal selling adv.
opportunity to build relationships with consumers
message is customised and personal to consumer
personal selling dis.
expensive - hiring and training sales staff
impact may be limited - difficult to scale to large audiences
sales promotion (def.)
tactical, point of sale material or other incentives designed to stimulate purchases (short-term incentives to increase sales)
examples : coupons, free samples, loyalty cards, free gifts etc.
sales promotion adv.
can quickly boost sales and customer engagement
can help clear out stock/promote new products
encourages impulse purchases
sales promotion dis.
expensive - if heavy discounting is required
attracts deal-seeking customers - may not be loyal to the brand
may reduce sales of full-priced items
public relations PR (def.)
create goodwill towards an individual, firm, cause or product
PR adv.
improves a firms’ reputation and credibility = increased customer loyalty and sales
cost-effective
PR dis.
time-consuming
difficult to measure the direct impact
branding (def.)
the process of creating a unique and identifiable name, design, feature etc. that differentiates a product/service from competitors
corporate branding (def.)
the use of a company name or logo to promote all the products or services offered by the firm
corporate branding adv.
creates strong brand recognition and reputation
can introduce new products easily
achieve economies of scale by promoting multiple products under one brand
