2.2.3 promotion Flashcards
Whatis a promotion strategy?
When a business carefully identifies how to get the right message at the right time in the right way to its market segment
What promotion strategies are used?
advertising
sponsorship
product trials
special offers
branding
What are the promotion strategies for advertising?
advertise on tv. radio, magazines and newspapers, billboards, websites, emails, through apps and many other
Advertisement can target a large number of people all at the same time
TV advertising more effective for the older generation
Social media advertisements more effective for younger generation
What are the sponsorship strategies for advertising?
Business financially supporting or giving goods or services to an event or programme in return for advertising their brand
Use relevant events or programmes to reach their market segment and develop their brand
What are the product trial strategies for advertising?
Used to get customers to try a product for the first time, usually before a business decides to launch it fully to the market
What are the special offers strategies for advertising?
can take the form of a discount on the sales price
Business targeted at a specific segment of the market might offer a free product if a friend is recommended
A business that sells products with a mass appeal
What are the branding strategies for advertising?
Business can differentiate itself from other similar products using an image or identity that creates a unique brand
(Customers can grow loyal to a business and trust it
Branded businesses charge higher prices as customers are willing to pay more)
How does targeted advertising online work?
Allows direct promotion to their customers through email offers, pop-ups and banner adverts
How can the success of an online advertising campaign b measured?
Click-through rate
What does viral advertising rely on?
Consumers passing on a promotion or advert which means it must grab the consumers attention
What are E-newsletters?
Newsletters that are sent to customers via email and they can be interactive and captivating. Web-links allow customers to respond easily
