Four P's: Promotion

Question 1

An art of making the public aware of the goods and services for sale

Answer 1

Advertising

Question 2

What is the promotional mix?

Answer 2

-Personal communication
-Special forms of communication
-Non professional communication
-Combined methods of communication

Question 3

What are the effects of advertising?

Answer 3

-Product promotion
-Familiarity with brand/ operation (brand loyalty)
-Public display of values

Question 4

What are the common mediums of advertising?

Answer 4

-Tv
-Radio
-Print
-Web based
-Social media
-Word of mouth

Question 5

What are the approaches to determine promotional budget?

Answer 5

-Fixed percentage of sales per year
-Use what is left over after expenses are covered
-Spend at the same level as the competitors
-Determine how much is needed to achieve objectives

Question 6

Metrics to analyze return on investment, web traffic analysis, sales analysis, incentive for responding to an add

Answer 6

Evaluating advertising

Question 7

Makes the market aware of a specific product or service and creates a desire for it

Answer 7

Product advertising

Question 8

Makes the market aware of information about the firm; designed to enhance the firm’s image to make it’s product advertising more credible and effective

Answer 8

Institutional advertising

Question 9

Applying verbal and/ or symbolic means to identify a product and/ or service

Answer 9

Branding