1.3.2 Branding Promotion Flashcards
Definition of Promotion
The process of generating customer awareness, interest, and desire for a product
7 methods of Promotion
-Personal Selling
-Digital Communications
-Sponsorship
-Public Relations
-Advertising
-Direct Marketing
-Sales Promotion
Definition of Advertising
Promotion occurs through paid channels such as tv, radio, and magazines
2 Advantages of Advertising
-Reach larger audience
-Can be used to create specific design image
3 Disadvantages of Advertising
-Expensive
-Can be too generalised
-Effectiveness can be hard to measure
Definition of Direct Marketing
The process of directly communicating with customers through email, text, or social media
2 Advantages of Direct Marketing
-Can be target specific
-Can be measurable in effectiveness
2 Disadvantages of Direct Marketing
-Can be intrusive
-Can be costly, especially if lack of established customer base
Definition of Sales Promotion
Marketing that uses short term incentives or loyalty schemes to boost sales
4 Advantages of Sales Promotion
-Can boost sales/customer engagement
-Can help clear out stock
-Can encourage impulse buys
-Can be targeted
3 Disadvantages of Sales Promotion
-Can be expensive
-May not attract loyal customers
-May reduce sales of full price items
Definition of Personal Selling
When a salesperson interacts with potential customers one-to-one either in person or digital
2 Advantages of Personal Selling
-Allows relationships to be built
-Adds personal experience and advice
2 Disadvantages of Personal Selling
-Can be expensive to train staff
-Hard to scale up with larger audiences
Definition of Sponsorship
An agreement where a company provides support (financial or other) to an event, team, or organisation for marketing exposure
3 Advantages of Sponsorship
-Help build brand awareness
-Can create emotional connections
-Help reach new customers
3 Disadvantages of Sponsorship
-Expensive
-May not directly improve sales
-Can be subject to negative publicity
Definition of Public Relations
When relationships are built with the public by managing their reputation
3 Advantages of Public Relations
-Can enhance businesses reputation and credibility
-Can increase customer loyalty
-Can be more cost effective
2 Disadvantages of Public Relations
-Time consuming
-Hard to measure impact
Definition of Digital Communications
Any form of marketing that is delivered electronically
2 Advantages of Digital Communications
-Can be targeted
-Can provide fast feedback
3 Disadvantages of Digital Communications
-Can be ignored easily
-May need investment into infrastructure
-May miss certain demographics
Definition of Branding
A name, image or logo that helps a product stand out in a market
4 Advantages of Branding
-Helps build reputation
-Can add value
-Can charge premium
-Helps reduce PED
Definition of Corporate Branding
The use of a company name or logo to promote all products
3 Advantages of Corporate Branding
-Builds brand recognition
-Helps economies of scale
-Help build reputation
2 Disadvantages of Corporate Branding
-If tarnished can damage all products
-May impact sales if strong competition
Definition of Product Branding
Refers to the name, design, or symbol to promote a specific product
3 Advantages of Product Branding
-Helps differentiation
-Allows different profits to be segmented
-Helps build loyalty by its quality
3 Disadvantages of Product Branding
-High cost for each product
-Hard to do for each product
-May have differently levels of quality
Definition of Own Brand Branding
Branding using the retailers name to promote a product
3 Advantages of Own Brand Branding
-Helps differentiation
-Allows a lower price to be set
-Builds loyalty
2 Disadvantages of Own Brand Branding
-May be perceived lower quality
-May be seen as inferior profuct
4 Ways to Build a Brand
-USP
-Advertising
-Sponsorship
-Social Media
How is Viral Marketing used
When businesses use online platforms to promote their products at specific times
How is Social Media used
When businesses use social media platforms to promote the business as well as using influencers
How is Emotional Branding used
When businesses build strong emotional connections with their customers
