Marketing Mix - Promotion Flashcards
What is promotion designed to do?
To inform customers about a product or service
What do promotional objectives include??
Increase sales and profits
What are adverts used to do?
Promote goods and services
What is a common method of advertising?
Digital advertising
What is viral marketing?
When companies get users to pass on adverts to their friends through social media
What is specialist media used to do?
Target niche markets
What is promotion like at introduction stage of PLC?
Heavy
What is promotion like in the growth stage of PLC?
Depends on objective to maintain or increase market share
What does branding do?
Differentiate products from competition
List 4 ways businesses can promote their products
Social media
Merchandising
PR
Sponsorships
What does PR involve?
Writing press releases and answering press enquiries
What does the promotional mix depend on? 5 things
The product, market, competition, PLC and budget
