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.
Competitions
Chance to win a prize when a purchase is made.
Money off/discount
% off the original price.
Loyalty schemes/incentives
Reward loyal customers with points which can be used for future purchases or a free gift.
Free samples
Try it before you buy it.
Buy one get one free - BOGOF
Basically a 50% discount as 2 for the price of 1.
Face to face
Listen and watch customer reaction and change approach to make a sale.
Telephone
From a call centre to make a sale. Customer can call to make an enquiry.
Give greater detail about the product/service.
Video or web conferencing
See customer reactions, can demonstrate the product, can send further information via a link.
Press release
An article written about the product/service shared with media for free for it to be published.
Exhibitions
Similar enterprises display their products in the same venue.
Promotional stunts
One time event to catch people and media attention.
Sponsorship
An enterprise pays to have its brand or product displayed at an event or worn by a team or celebrity.
Direct mail
Leaflets, brochures, letters mailed directly to new or existing customers.
Mail order catalogues
Show photos of products and customers can browse through them.
Magazines
To inform customers about the latest developments of their products/services.
Telemarketing
Also known as cold calling – to encourage a customer to make a purchase.
Digital mail
Using email or text to contact customers.
Age
Different age groups need different products.
Gender
Men and women have different tastes/needs.
Income
Higher income – spend more, lower spend less.
Social class
Based on income/occupation of a person.
Ethnicity
Taking account of cultural differences.
Religion
Different religions have different tastes.
Family size
Larger families will buy in bulk.
