branding and promotion

Question 1

what is promotion and their purpose?

Answer 1

• Process by which people are encouraged to buy an organisation’s product/service
• Attracts customers
• Offers an ‘incentive’ for customers to buy

Question 2

what is branding and its purpose?

Answer 2

• name or symbol that distinguishes one product from another business
• Includes characteristics and what it stands for

• A strong brand can be achieved through investment in the successful promotion

Question 3

ways to build a brand

Answer 3

• Focus on a unique selling point
• Advertise; frequent and repeat messages
• Sponsorship and endorsement
• Social media
- Direct contact with consumers and targeted contact
- Rapid spread of the message

Question 4

benefits of strong branding

Answer 4

+ Adds value to product
+ Enables premium pricing
+ Reduces price elasticity of demand (more inelastic)
+ Builds trust
+ Makes it a ‘natural’ choice for consumers
+ Recognition
+ Brands can be sold

Question 5

what is above the line advertising?

Answer 5

• Advertising to a mass audience e.g. TV, cinema, newspaper, online etc.

Question 6

advantages of above the line advertising

Answer 6

+ reach large audience quickly

Question 7

disadvantages of above the line advertising

Answer 7

• very expensive

- may target wrong audience and therefore advertisement may be considered unsuccessful and a waste of money

Question 8

what is below the line advertising?

Answer 8

• More personal advertising to smaller/niche markets

* Used to develop attitudes/awareness/communicate information

Question 9

advantages of below the line advertising

Answer 9

+ more personal connection with their customers and this could lead to a loyalty towards the business
+ can target promotion

Question 10

disadvantages of below the line advertising

Answer 10

• targeting different types of culture can be difficult