2.2.3 Promotion Flashcards
Name 4 Ways why Businesses Promotes?
- 1) To Inform Current and Potential Customers.
- 2) To Compete with other business.
- 3) To Present, Change or Improve an image.
- 4) To Encourage Growth through more sales.
Why do Business promote ( 2 Marker)?
To Inform current and Potential Customers about existing and new products (P) Which should in turn lead to persuading consumers to buy a product or service (S)
Name 4 Different Types of Promotion Strategies?
- 1) Advertisement
- 2) Sponsorship
- 3) Special Offers
- 4) Branding
Write a Definition of Advertisement?
- Advertisement is when a business pays to put an Advertisement in order to communicate a potential to customers and potential customers.
Give 5 Examples of Advertisement?
- 1) Television Ads
- 2) Radio
- 3) Digital
- 4) Print
- 5) Billboards
Write a Definition of Sponsorship?
- Sponsorship is when a Business Supports an Events, Activity ,Person or Organism by providing its product and services.
Explain one Reason why business use Sponsorship to Promote ( 3 Marker)?
Sponsorships Will Crete Brand Loyalty for the Business (P) This is because Famous Footballers Are Wearing Sponsored Jerserys (S) This leads to The Business Being able to charger higher prices (S)
Which Type of Business Will sponsor larger teams And what does it Also include?
- Small Business Are likely to sponsor larger sporting teams and events.
- Sponsorship also includes a business Financial supporting an event, activity or person.
Write a Definition of Special offers?
- Special offers is where a business makes the price of 1 of their products half price to get rid of old stock and replace it with new stock.
What are Special Offers also Called?
- Sales Promotions
Name 2 Reason businesses have Special Offers?
- 1) Gain Customers.
- 2) Special Offers are Used as a strategy to clear business stock.
Name 2 Examples of Special Offers?
- 1) Buy one get one free.
- 2) 75% off all products.
Write a Definition of Branding?
- A Brand is a personality or image of a product which is generated through marketing activities.
How Can Developing a Strong Brand help a Business?
- Developing a Strong Brand can help a business to generate customer loyalty and add value to its products.
Name 5 Factors That Influence promotional decisions?
- 1) Stages in the Product Life Cycle.
- 2) Nature of the product.
- 3) Competition.
- 4) Marketing objectives and Budget.
- 5) Target Market.
Write a Definition of Product Trial?
- A Product Trial is Where Potential Customers are given the opportunity to try New products.
Give a Example of a Product Trial?
- Costco handing out free samples for people to try.
Give 1 Benefit of Product Trial ( 3 Marker)?
Product Trials will encourage customers to try a product without actually purchanising it in the first place (P) This is because it encourages customers to buy the product in the future (S) This leads to generating sales and increasing market share (S)
Give 1 Drawback of Product Trial ( 3 Marker)?
A Drawback of product Trail is that it is expensive and will not guarantee in future sales (P) This is because it may only target a small sample of customers (Those who attend the store at any time) (S) Therefore its not cost effective if the cost outweighs the increasing sales revenue (S)
Name 4 Ways a Business can Use technology to promote their good and services?
- 1) Targeted Advertising on Websites.
- 2) Social Media and Viral advertising.
- 3) Apps.
- 4) Emails and e-Newsleeters.
What are Targeted Advertising on Websites and how do they help promote?
- Target Advertising such as Side-Bars adverts and banners is an effective way for a business to get exposure to potential customers.
- These help business because websites are able to track customer searches.
What do most business have and write a definition of viral advertising and how does it help a business promote?
- Most business have a facebook page and a twitter profile that they can use to communicate with customers.
- Viral Advertising is advertising used to help increase sales and boost awareness.
- Viral advertising can help business support a campaign for a good cause.
How can businesses use apps to promote?
businesses can use apps creativity to engage with its customers.
How can businesses use Emails and E- newsletters to promote?
A Business might use emails to send e-newsletters to customers these can be used to communicate large amount of business information to customers.
The use of technology in Promotion: Targeted Advertising? ( 3 Marker)
Website owners can track the online activity of consumers who visit their site by using cookies (P) They can use Cookies to Build a profile of consumers interests (S) They can then serve adverts for products suited to the induvial consumer (S)
