Enterprise And Marketing Flashcards
What is an enterprise?
A business that sells products or services in order to make a profit
What is marketing?
Developing, promoting and distributing products to satisfy a customers needs.
What is brand identity?
The message the consumer receives from the product (often done through logo, slogans, overall looks, designers linked to it – think about high-street shops linking with famous people/ designers).
What does MESS stand for?
Moral, environmental, social and sustainability
What are the top ways companies use to advertise their products?
- Websites
- Shop windows and in-store displays
- Special events such as sales, catwalk shows and launch parties
- Packaging
- Branded items with visible logos
- Blogs, vlogs and product reviews
- Social media
- Online, TV, radio and paper adverts
- Billboards
What do you need to know about your target market to make your product relevant and successful?
• Gender
• Age
• Measurements
• Location
• Occupation
• Income
• Interests and hobbies
• Ethnic, cultural and religious background
• Needs and desires
What is the significance of labelling and packaging?
Helps with marketing, depends on the identity of the brand. Logos can appear to attract attention.
What is the importance of packaging?
Offers protection between factories and points of sale.
• Branded packaging helps with advertising, can be seen as luxurious.
• Can increase the perceived value of a product, e.g. use of tissue paper, ribbons or decorated boxes.
• The choice of packaging can be controversial because of current waste and pollution related issues.
• Some companies will favour eco packaging to suit their target market’s values and help build a positive brand image.
What is corporate identity?
It is the visual image of the business seen in their logos, trademarks, signage, outlet design, uniforms, stationary and packaging.
How is corporate identity expressed?
Often expressed using logos, font styles, images and colour.
• A strong corporate identity means that consumers will recognise the brand which in turn can help brand loyalty.
• Sets businesses apart from their competitors.
What is global marketing?
When products are made internationally, exported and sold worldwide.
What are some examples of global marketing?
Trade agreements between countries (where taxes on import-export are lower or non-existent), encourage trade and business growth. An example is the EU.
• Individual governments may also encourage high taxation on imports to protect employment and manufacturing in their own countries.
Social media sites are also used for marketing textiles products.
What are the advantages of using social media to promote textiles?
- The promotion and advertisement of products on social media is less expensive and can reach a global audience instantly.
- Potential customers can be targeted more efficiently.
- The impact on sales and trends of ‘influencers’ can nowadays be stronger than those of so-called traditional celebrities (actors , athletes or singers).
- Social media are very interactive and can feel very empowering for potential customers who can ‘like’, ‘follow’, write reviews, communicate with the influences, be given access to an exclusive event, watch and post videos.
- Links between social media sites and actual business sites make it very easy and quick for customers to buy products.
- Viral marketing is when promotional messages are shared very quickly across the internet through social media . They can take the form of a humoristic, fashion video, image, email, tweet, etc…
What are the disadvantages of using social media to promote textiles?
- Lack of filters, targeting wrong people and having a negative impact.
- Such a wide target market, may not reach.
- Costs money to advertise.
What is an entrepreneur?
• They look for opportunities to set up small businesses (start-ups).
• They use new, creative ideas and innovative products.
• They favour networking and collaborations.
• They often win awards.
• They are often linked to charities or educational organisations.
• They often innovate in the way they run the business itself.
• An example is Toni Ko.
