Comp 3 LA a Flashcards
Promtional mix
Range of techniques used to communicate with existing and potential customers, to inform/persuade purchases.
Media
Form of mass communication which can be used to reach large amounts of people.
Medium
How an enterprise chooses to communicate with its market.
Message
What the enterprise is communicating.
Advertising
Enterprise pays for space to communicate with the public.
Sales promotion
An incentive for a period of time to make a purchase.
Personal selling
An enterprise contacts potential customers directly.
Public relations
Placing product information in the media – for free.
Direct marketing
Enterprise communicates directly with the customer.
Business to consumer market (B2C)
B2C – a business sells direct to the customer.
Business to business market (B2B)
B2B – a business sells direct to another business.
Market segmentation
Process of analysing the whole market and splitting into different segments according to customer needs/wants.
Demographic segmentation
Segmentation by population characteristics.
Geographic segmentation
Segmentation by location of customers.
Psychographic segmentation
Segmentation by social class, attitude, lifestyle, personality.
Behavioural segmentation
Segmentation by how or why customers relate to the product.
Budgetary constraints
Amount of funds available to the enterprise to spend on the promotional mix.
Target market
Characteristics of existing and potential customers.
Moving images and video
Where? TV, Cinema, Youtube.
What for? Products that have moving parts.
Where? Newspapers, magazines, billboards.
What for? To reach large numbers of people.
Ambient
Where? Public spaces eg: on a bus side.
What for? Catching people’s attention.
Digital
Where? Websites, text, email.
What for? Reach people very quickly.
Audio
Where? Radio, Spotify.
What for? Talk to customers in a low cost way.
Coupons
Offer a discount or free gift with next purchase.
