-branding/promotion-

Question 1

What is a brand?

Answer 1

A product that is easily distinguished from other products so that it can be easily communicated and effectively marketed.

Question 2

Adv of effective branding:

Answer 2

Adds significant value from customer perspective.
Business able to change higher prices, demand more inelastic.
Builds customer loyalty and aspiration

Question 3

What are the types of brand?

Answer 3

Product brand
Service brand
Umbrella brand
Corporate and own label brands
Own-label
Global brand

Question 4

Key points of product brand:

Answer 4

Brands associated with specific products, e.g Marmite.

Question 5

Key points of service brand:

Answer 5

Brands that add perceived value to services, delivered face to face or via online/apps, e.g Netflix/Uber

Question 6

Key points of umbrella brand:

Answer 6

Brands that are assigned to more than one product. Makes different product lines easily identifiable to consumer by branding under one name, e.g Dove/Cadbury

Question 7

Key points of corporate brand

Answer 7

Promoting the name of a corporate entity, e.g Nestle/BBC

Question 8

Key points of own-label brand:

Answer 8

An example of corporate branding where retail outlets assign their corporate branding to a range of goods/services, e.g Tesco Finest

Question 9

Key points of global brand:

Answer 9

Easily recognised, operates worldwide and based on familiarity, availability and stability, e.g Ikea/McDonalds

Question 10

What is sales promotion?

Answer 10

Tactical, point of sale material or other incentives designed to stimulate purchases.

Question 11

What is the promotional mix and what are its main elements?

Answer 11

The mix of activities/approaches take to promote a product.

• Advertising.
• Sales promotion and merchandising.
• Personal selling.
• Public relations/publicity/sponsorship.
• Direct marketing

Question 12

What are the key influences on choosing a promotional method:

Answer 12

Stage in the products life cycle
Nature of the product (what info to customers need to know)
Competition
Marketing objectives and budget (how much can firm afford, what is needed)
Target market

Question 13

Adv of advertising:

Answer 13

Wide coverage
Control of message
Repetition means message can be communicated effectively
Effective for building brand awareness and loyalty

Question 14

Disadv of advertising:

Answer 14

Expensive 
Most methods impersonal
One way communication
Lacks flexibility
Limited ability to close a sale

Question 15

Adv of personal selling:

Answer 15

High customer attention
Message customised
Interactive
Persuasive impact
Potential for development of a relationship 
Adaptable
Opportunity to close the sale

Question 16

Disadv of personal selling:

Answer 16

High cost
Labour intensive
Expensive
Can only reach limited number of customers

Question 17

Adv of sales promotion:

Answer 17

Effective at achieving a quick boost to sales

Encourages customers to trial a product/ switch brands

Question 18

What are public relations?

Answer 18

Activities that create goodwill towards an individual, business, cause or product.
Main aims:
To achievable favourable publicity about the business
Build the image/rep of the business and its products
Communicate effectively with customers/stakeholders

Question 19

What is direct marketing?

Answer 19

Sending promotional materials and messages directly to the target audience via mail, email, social media or phone to trigger a response (purchase or enquiry).
Allows a business to generate a specific response from targeted groups of customers.
Allows a business to focus on several marketing objectives at the same time, i.e increasing sales whilst building customer loyalty.