1.3.2. Branding + Promotion Flashcards
1
Q
What is branding?
A
Creating an identity for your product which customers see as different from other products
2
Q
What to include when building a brand:
A
- Slogan
-Colour - Product shape/size
- Packaging
- Celebrity Endorsement
- Advertising
- Good quality
- Values/morals
3
Q
Sponsorship
A
Business can gain publicity by financially supporting an event or person
4
Q
Advantages of a strong brand:
A
- can charge premium prices
- increase customer loyalty
- USP/. Stands out
- Reduced price elasticity of products
