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Business study Year 12 > M1 Topic 4 Marketing Strategies Part 2 : Promotion, place > Flashcards

M1 Topic 4 Marketing Strategies Part 2 : Promotion, place Flashcards

1
Q

what is promotion

A

methods used by the business to inform, persuade + remind target market about its products

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2
Q

what are the aims of of promotion (4)

A

Attract new customers
Increase brand loyalty
Inform customer
Encourage customers to buy new and existing products

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3
Q

list types of promotion methods (5)

A

advertising
personal selling
relationship marketing
sales promotion
publicity/public relations

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4
Q

what is advertising

A

paid, non-personal message communicated through mass media

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5
Q

advantages of advertising

A

maximises potential customer exposure

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6
Q

disadvantages of advertising

A

expensive

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7
Q

what is personal selling

A

activities of sales rep directed to customer in attempt to make sale

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8
Q

advantages of personal selling (2)

A

Personalised message
Long-term relationships = customers loyalty = repeat sales

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9
Q

disadvantages of personal selling

A

expensive

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10
Q

what is relationship marketing

A

The development of long-term, cost-effective, relationships with individual customers in order to encourage repeat sales

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11
Q

method of relationship marketing

A

loyalty program

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12
Q

what is a loyalty program

A

Rewards-based program offered to customers to make frequent purchases

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13
Q

what is sales promotion

A

use of activities to entice new customers to buy the product

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14
Q

list methods sales promotion (3)

A

Coupons
Samples
Displays

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15
Q

what is publicity

A

free acknowledgement of a business that boosts awareness

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16
Q

list methods of communication promotion (2)

A

opinion leader
word of mouth

17
Q

what is the opinion leader

A

when respected celebrities endorse a products to influence others

18
Q

what is word of mouth

A

the endorsement of products among social groups through conversation

19
Q

what is place/distribution

A

activities that make products available to customers when and where they want to purchase them

20
Q

what are distribution channels

A

routes taken to get the product from factory to customer

21
Q

list types of distribution (3)

A

Intensive distribution: all/most outlets
Selective distribution: moderate, customer travel
Exclusive distribution: One retail outlet in large geographical area

22
Q

what is Intensive distribution

A

product sold at all or most outlets

23
Q

what is Selective distribution

A

product sold in specific outlets

24
Q

what is Exclusive distribution

A

product sold from only one outlet

25
Q

what are some issues that must be considered with distribution (3)

A

transport
warehousing
Inventory

Business study Year 12 (33 decks)

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