1.3.2 Branding and promotion Flashcards
What is promotion?
1
- Methods to persuade consumers to purchase a product
What are the long term types of promotion?
2
- Persuasive advertising
- Public relations (PR)
What is public relations?
1
- Attempts by a firm to create publicity that is reported as news (staging)
What are the short term types of promotion?
2
- Buy one get one free (BOGOF)
- Seasonal price
What are the different types of branding?
3
- Individual brand
- Brand family
- Corporate brand
What is an individual brand and what may be the company’s aim from this?
2
- Single product brands (marmite)
- Make little attempt to push their company name, focus on single brand
What is a brand family and an example?
1
- Brand name that’s used across range of related products (Cadbury)
What are the benefits of a strong brand family?
2
- Umbrella brand name ^sales of each product in family, through association
- ^Retailer distribution
What is a corporate brand?
1
- Using company name as a brand (Nestle)
What is a brand?
1
- Recognisable name/logo that helps differentiate a product/business
What are the ways to build a brand?
4
- Advertising
- USP
- Sponsorship
- Social media
How can advertising build a brand?
1
- Reinforces msgs company wants to send about brand
Why may a brand stay differentiated even if their USP is copied?
1
- Already well established
How can sponsorship build a brand and why?
2
- Association
- Sponsoring event/sports team = attachments in consumers minds that build brand personality
Why has viral marketing become more significant in recent years?
1
- Social media offers a faster and wider way to spread recommendations of a product
