M1 Topic 4 Marketing Strategies Part 2 : Promotion, place Flashcards
what is promotion
methods used by the business to inform, persuade + remind target market about its products
what are the aims of of promotion (4)
Attract new customers
Increase brand loyalty
Inform customer
Encourage customers to buy new and existing products
list types of promotion methods (5)
advertising
personal selling
relationship marketing
sales promotion
publicity/public relations
what is advertising
paid, non-personal message communicated through mass media
advantages of advertising
maximises potential customer exposure
disadvantages of advertising
expensive
what is personal selling
activities of sales rep directed to customer in attempt to make sale
advantages of personal selling (2)
Personalised message
Long-term relationships = customers loyalty = repeat sales
disadvantages of personal selling
expensive
what is relationship marketing
The development of long-term, cost-effective, relationships with individual customers in order to encourage repeat sales
method of relationship marketing
loyalty program
what is a loyalty program
Rewards-based program offered to customers to make frequent purchases
what is sales promotion
use of activities to entice new customers to buy the product
list methods sales promotion (3)
Coupons
Samples
Displays
what is publicity
free acknowledgement of a business that boosts awareness
list methods of communication promotion (2)
opinion leader
word of mouth
what is the opinion leader
when respected celebrities endorse a products to influence others
what is word of mouth
the endorsement of products among social groups through conversation
what is place/distribution
activities that make products available to customers when and where they want to purchase them
what are distribution channels
routes taken to get the product from factory to customer
list types of distribution (3)
Intensive distribution: all/most outlets
Selective distribution: moderate, customer travel
Exclusive distribution: One retail outlet in large geographical area
what is Intensive distribution
product sold at all or most outlets
what is Selective distribution
product sold in specific outlets
what is Exclusive distribution
product sold from only one outlet
what are some issues that must be considered with distribution (3)
transport
warehousing
Inventory
