branding and promotion

Question 1

what is promotion

Answer 1

promotion is how a business communicates with its customers to ensure they are aware of their products and their position

Question 2

what is the promotional mix

Answer 2

advertising - tv, radio, posters
public relations and sponsorship - good news stories, sponsoring an event
personal selling - speaking to customer
direct marketing - email and fliers
sale promotion - offers, position of product in shops

Question 3

what does the method of promotion depend on

Answer 3

budget
target audience
type of market 
type of product
competition 
rest of marketing mix

Question 4

what are the types of promotion

Answer 4

above the line - paid for communication eg advertising on tv

below the line - promotional activities where business is in direct control

Question 5

what is branding

Answer 5

branding is the process of creating a distinctive identity of a product in the minds of the customer

Question 6

what are the advantages of having a strong brand

Answer 6

charge a higher price
loyal customers 
easier to launch new products 
recognisable
reduce PED 
more repeat purchase
competitive advantage

Question 7

what are the disadvantages of having a strong brand

Answer 7

bad news story/ reputation can affect a business

building a strong brand costs a lot and takes time

Question 8

what are the types of branding

Answer 8

individual - brand only sells one product

umbrella - brand stretches across many products

Question 9

how do you build a brand

Answer 9

sponsorship - increase brand awareness
USP - make product different
advertising - reinforcing information to customers
social media - adverts, celebrity endorsements