1.3.2 Branding and promotion Flashcards
What is promotion?
use of marketing to bring products and services to the attention of potential buyers
What are the 4 types of promotion?
Personal selling (face to face interaction)
Advertising
Publicity
Sales promotion
What is personal selling?
A marketing technique that involved direct, face to face interaction with potential customers from a skilled sales person
Give an advantage to personal selling
builds trust and improves customer satisfaction which can increase revenue through personalization
(Tailoring prod to accommodate specific individual)
What is a drawback to personal selling?
Can be expensive to invest in training and salary
What is advertising?
(Inc examples)
Reaching a large audience to increase brand awareness and create specific brand images
Eg- leaflets, radio, tv, print
What is an advantage of advertising as a method of promotion?
can reach a large audience to create brand identity fast which will increase sales
What’s a drawback of advertising?
Expensive so money may become tied up and cannot spend elsewhere to grow business
What is publicity?
(Personal relations and sponsorships)
Public relations- aims to build relationships between the business and public to create a positive corporate image
Sponsorships- positive association of a product/service with a celeb/sport
What is an advantage of using publicity?
Can increase brand awareness and reputation so customers more likely to buy from a with business with positive reputation
What is a drawback of publicity?
Lack of control =there’s no guarantee the public or reporters will give the business a favourable review
What is sales promotion?
Encourages purchase of a product/service by offering temporary incentives or discounts
(Inc, samples, giveaways, discounts)
What is an advantage of using sales promotion?
attract new customers because prices lower than comp which will increase market share
What’s is a drawback of sales promotion?
Value erosion and Can be expensive when heavily discounting
What is above the line advertising?
Inc examples
A mass media method for targeting larger, more general consumers
(Radio, Tv, Billboards)
What are 2 advantages and 2 drawbacks of above the line?
A- Reach mass audience so get max exposure to potential consumers
A- Build brand awareness
D- Expensive
D-May not appeal to right demographic
What is below the line advertising?
Inc examples
Directed to reach a small, targeted audience
EG- flyers, social media
What are 2 advantages and disadvantages of below the line?
A- easy, cheap
A- more targeted at segments, focused
D-Limited reach
-Need deeper understanding over buyer behaviour- more market research
What is branding?
A characteristic, name or symbol that distinguishes one product from another suppliers
(How a customer perceives a product)
What are 4 benefits of having a strong brand ?
Adds value
Makes the product recognisable
Charge premium price
Builds trust
Why is it a benefit to add value?
Because its more appealing than competitions so customers willing to pay more so increases profit
Why is it a benefit to build trust?
Because this will lead to repeat purchase and consumers will maintain which inc erases rev
What is manufacturer branding?
Using a company’s name and logo to promote their products/services which are sold in retailers
What is an advantage and a drawback of manufacturer branding?
A- strong brand recognition so customers are likely to try other products in company’s range
D- If one product is a ,scandal, can demolish trust of company range
