2.2.3 Promotion 🗃 Flashcards
What are the 4 reasons why businesses advertise?
- To persuade customers to switch
- Raise awareness
- Promote their brand
- Remind how great their business is
What are the 5 places businesses use to advertise ?
- Online ads
- TV ads
- Newspaper
- Billboard
- Radio
What are the positives of using the internet as a form of advertising?
- Large audience
- Ads are interactive
- Target audience
What are the negative of using online ads as advertisement?
- You can skip them- ad fatigue
- Hard to stand out
What are the positives of using print media ?
- Less expensive to place it
- Good for local businesses
What are the negatives of using print media ?
- Shrinking audience - out of date
What are TV advertising advantages?
- Include sight and sound
- Reaches large audience
Negatives of using TV advertising?
1.Cannot skips them but ignore it
2. Difficult to get attention
3. Expensive to change and place
Positives of using the radio as promotion?
- Target to specific national group
- More affordable to make and place
What are the negatives of using radio for promotion?
- Having smaller audience
- Only audio no visual hard ti explain business in 30 seconds
What are the negatives of using billboards for promotion?
1.could get vandalised
- Large billboards are harder to change
What are the positives of using billboards?
- Good for targeting local audience
- Smaller billboards are cheaper to change
What is sponsorship ?
Provided financial support to a business in return for free products or services or through cash
In return they display the product
What are the positives of sponsorships?
- Increased brand exposure
2.can enhance business reputation - Can target sponsorship for a special people
What are the negatives of sponsorship?
- Sponsor could damage the reputation of business
- Can be expensive
- Difficult to measure the impact
What is the main reason why people uses sponsorships?
TO BUILD THE ASSOCIATION!
What are the positives of branding?
- Customers more likely to purchase
- You can add value
- Customers recognise brand=loyalty
What are the negatives of having a brand?
- Takes a long time to establish
2.Could gain a bad reputation
What are promotional offers?
A discount made to encourage purchases
What are the positives of promotional offers ?
- Attracted customers because of low prices
- Good way to leave or enter a competitive market
What are the negative of using promotional methods ?
- Makes less profit per item sold
- Short term option only
What is a product trial?
An temporary offering if a product or service in order to conduct market research
What are the positives of using a product trial?
- Won’t damage rep if product trial fails
- Business can gain feedback
What are the negatives of using product trials?
- Still have to promote and persuade customers and do research and design and produce a product so very high cost
- Only get feedback on limited area
What is targeted advertising?
Targeting specific ads on specific people due to their previous buying history
What is the twist of an online website you are using is free?
Then your preference information is being sold to other businesses (you are the product of promotion)
What are 1st party cookies
They remember your preferences (what you like )
What is 3rd party cookies ?
Cookies that track your profile
What is viral marketing?
Video picture or info circulated rapidly from one interacting user with another
What are the positives of using viral marketing as a promotion strategy?
- Gives business more exposure
- Cheap
- Spreads awareness of business
- Interactive
What are the negatives of viral marketing?
- Difficult to control
- Interest is short lived
- Negative images
