Edexcel Business Topic 2.2.3 Flashcards

Page 6

1
Q

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What is Promotion

A

Ways in which a business communicates it’s product and services to customers

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2
Q

List of Promotional Strategy

Give 3

A
  1. Advertising
  2. Sponsorship
  3. Special Offers

etc

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3
Q

What is Advertising?

A

When a business pays to put out an advertisment to communicate a message

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4
Q

2 types of advertising

A
  1. Targeted Advertising
  2. Viral Advertising
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5
Q

What is Targeted Advertising

A

Placing adverts based on demographics

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6
Q

What is Viral Advertising

A

Use existing social networks to promote a product!

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7
Q

What is Sponsorship?

A

When a business supports an event, person or organization

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8
Q

Benefits of Sponsorship

Give 2

A
  1. Enchances a business reputation
  2. Greater Consumer Awareness
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9
Q

What is Special Offers

A

Promotional strategy to boost sales over a short period of time.

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10
Q

Examples of Special Offers

A
  1. Discounts
  2. BOGOF (buy one get one free)
  3. Free gifts

etc

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