1.3.2 Branding and promotion Flashcards
Definition Branding
the process of creating a distinctive and lasting identitiyin the minds of consumers
takes time and marketing effort but once established becomes its own promotion
advantages of branding
increase pricing
lower promotion costs
customre loyalty
reduce price elacticity
add value
competitive pricing
differentiation from competitiors
Types of brand
product brand - brands associated with specific products (Pot Noodle)
service brand - add preceived value to services (Netflix)
Umbrella brand - are assigned to more than one product, diffrent product lines grouping under one brand name (Lindt)
Corporate Brand - promotion of coorporate entity not one product (Nestle)
own lable brand - assign specific coorporate brandong to range of goods (tescos esssentials)
global brand - easiliy recognised and operation world wode (Coca cola)
ways to build a brand
USP
Advertising - keep reinforcing message of superiority, attract new customers
Sponsorship
Viral marketing
benefits social media
targeting very specific
can proide interactivity –> create bond between customers and business
emotional bonding e.g. john lewis
definition branding
process of creating a distinctive and lasting identitiy in the mind s of the consumer
advantages of branding
increse price
lower promotion costs
consumer loyality
reduce price elasticity
add value
competitive advantage
differentiation
types of branding
product brand - associated with specific product (Pot Noodle)
service brand - add perceived value to service (netflix)
umbrella brand - brands assingned to more than 1 product –> grouping (Lindt)
corporate brand –>promoting brand name of coorporate identity (Nestle)
on label brand assign coorporate branding to range of products (tescos essentials)
global brand recognised and operating worldwide (Coca cola)
ways to build brand
USP
Advertising
Sponsorship
VIral marketing
benefits social media
targeting very specific
can proide interactivity –> create bond between customers and business
emotional bonding e.g. john lewis
what is promotion used for
infrom about new product
remind of existing product
reach wide market
reassure about product
show rival products not as good+improv or develop company image
persuade
advertising categories
informative - tell about product and any modifications
persuasive - one producers benefits compared to competitors
reassuring - right thing to purchase product
choosing method of promotion is known as
promotional mix
types of promotion
personal selling
direct marketing
advertisisng
public relations
sales promotions
online advertissing
mobile communications
advergaming
social media
viral strategies
consumer generated content
sponsership
