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Business 📈 > 2.2.3 Promotion 🗃 > Flashcards

2.2.3 Promotion 🗃 Flashcards

1
Q

What are the 4 reasons why businesses advertise?

A
  1. To persuade customers to switch
  2. Raise awareness
  3. Promote their brand
  4. Remind how great their business is
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2
Q

What are the 5 places businesses use to advertise ?

A
  1. Online ads
  2. TV ads
  3. Newspaper
  4. Billboard
  5. Radio
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3
Q

What are the positives of using the internet as a form of advertising?

A
  1. Large audience
  2. Ads are interactive
  3. Target audience
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4
Q

What are the negative of using online ads as advertisement?

A
  1. You can skip them- ad fatigue
  2. Hard to stand out
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5
Q

What are the positives of using print media ?

A
  1. Less expensive to place it
  2. Good for local businesses
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6
Q

What are the negatives of using print media ?

A
  1. Shrinking audience - out of date
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7
Q

What are TV advertising advantages?

A
  1. Include sight and sound
  2. Reaches large audience
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8
Q

Negatives of using TV advertising?

A

1.Cannot skips them but ignore it
2. Difficult to get attention
3. Expensive to change and place

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9
Q

Positives of using the radio as promotion?

A
  1. Target to specific national group
  2. More affordable to make and place
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10
Q

What are the negatives of using radio for promotion?

A
  1. Having smaller audience
  2. Only audio no visual hard ti explain business in 30 seconds
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11
Q

What are the negatives of using billboards for promotion?

A

1.could get vandalised

  1. Large billboards are harder to change
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12
Q

What are the positives of using billboards?

A
  1. Good for targeting local audience
  2. Smaller billboards are cheaper to change
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13
Q

What is sponsorship ?

A

Provided financial support to a business in return for free products or services or through cash

In return they display the product

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14
Q

What are the positives of sponsorships?

A
  1. Increased brand exposure
    2.can enhance business reputation
  2. Can target sponsorship for a special people
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15
Q

What are the negatives of sponsorship?

A
  1. Sponsor could damage the reputation of business
  2. Can be expensive
  3. Difficult to measure the impact
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16
Q

What is the main reason why people uses sponsorships?

A

TO BUILD THE ASSOCIATION!

17
Q

What are the positives of branding?

A
  1. Customers more likely to purchase
  2. You can add value
  3. Customers recognise brand=loyalty
18
Q

What are the negatives of having a brand?

A
  1. Takes a long time to establish

2.Could gain a bad reputation

19
Q

What are promotional offers?

A

A discount made to encourage purchases

20
Q

What are the positives of promotional offers ?

A
  1. Attracted customers because of low prices
  2. Good way to leave or enter a competitive market
21
Q

What are the negative of using promotional methods ?

A
  1. Makes less profit per item sold
  2. Short term option only
22
Q

What is a product trial?

A

An temporary offering if a product or service in order to conduct market research

23
Q

What are the positives of using a product trial?

A
  1. Won’t damage rep if product trial fails
  2. Business can gain feedback
24
Q

What are the negatives of using product trials?

A
  1. Still have to promote and persuade customers and do research and design and produce a product so very high cost
  2. Only get feedback on limited area
25
Q

What is targeted advertising?

A

Targeting specific ads on specific people due to their previous buying history

26
Q

What is the twist of an online website you are using is free?

A

Then your preference information is being sold to other businesses (you are the product of promotion)

27
Q

What are 1st party cookies

A

They remember your preferences (what you like )

28
Q

What is 3rd party cookies ?

A

Cookies that track your profile

29
Q

What is viral marketing?

A

Video picture or info circulated rapidly from one interacting user with another

30
Q

What are the positives of using viral marketing as a promotion strategy?

A
  1. Gives business more exposure
  2. Cheap
  3. Spreads awareness of business
  4. Interactive
31
Q

What are the negatives of viral marketing?

A
  1. Difficult to control
  2. Interest is short lived
  3. Negative images

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