Methods of promotion Flashcards
What are the 4 main reasons Firms spend lots of time and money on promoting?
To inform customers about the product.
To persuade customers to buy the product.
To create or change the image of a product.
To create or increase sales.
What is advertising?
Any message that a firm pays for which promotes the firm or its products.
What is good about choosing newspapers to advertise?
Good for reaching a specific geographical area or reaching a wider audience. Also printed often, so its a good way to to promote temporary offers.
What is bad about choosing newspapers to advertise?
The print quality is usually poor and the number of people reading newspapers is declining.
What is good about choosing Posters or Billboards to advertise?
Can be placed near a target audience, stay in place for a long time and be seen daily by lots of people.
What is bad about choosing Posters or Billboards to advertise?
People might not look at them for long, so messages need to be short.
What is good about choosing Television adverts to advertise?
Can be seen by a wide audience and includes sounds and moving images. Can deliver long messages and help emphasises the firm’s image.
What is bad about choosing Television adverts to advertise?
They’re very expensive.
What is good about choosing Magazines to advertise?
Good for targeting specialist markets over a wide area. Better quality than newspaper adverts and people tend to hang on to magazines for longer.
What is bad about choosing Magazines to advertise?
Can be pricier than newspaper adverts.
What is good about choosing Leaflets, Flyers or a Business card to advertise?
Cheap to produce and distribute. Can be targeted at certain areas and people can keep them until they need the information.
What is bad about choosing Leaflets, Flyers or a Business card to advertise?
Many people see them as ‘junk’ and throw them away quickly.
What is good about choosing internet adverts to advertise?
Can be seen at any time by a large, targeted audience, can include sounds and moving images, and customers can visit the firm’s website immediately after viewing the advert.
What is bad about choosing Internet adverts to advertise?
There are so many adverts online, people may stop looking at them properly or choose to block them.
What is Sponsorship?
Firm sometimes give money to organisations and events. In return, their name is displayed by the organisation or at the event.
What benefit does Sponsorship bring to a business?
Can creat a high profile for your business or brand name.
What is a risk of sponsoring for a business?
If the thing you’re sponsoring starts to get bad publicity, your company’s image might suffer too.
What is PR?
Public relations - Involves communicating with the media.
What is a benefit of PR?
Can be a cheap and easy way to get a firm noticed by a wide audience.
What can be bad about PR?
Once the firm has spoken to the media, it has little control over what the public get to see or hear.
What is Sales promotion?
A short-term method used to encourage customers to buy a product or service ultimately leading to boost sales.
What are the six sales promotion methods that firms use?
Competitions
2 for 1 offers
Free samples
Coupons
Point of sale displays
Free gifts
What is an advantage of sales promotion?
Should encourage new customers to try a product.
Will boost sales in the short term but could also increase sales in the long term if customers like the product and continue to buy it once the promotion has ended.
What is a disadvantage of sales promotion?
Customers get used to seeing products on promotion and may be reluctant to by them at other times.
Using regular sales promotions might make a product feel like less of a luxury item, so some customers looking for luxury might be put off buying it.
Why is social media a good way to promote products?
It is quick, cheap and easy to set up.
Can respond quickly to internal or external changes.
Customers can go quickly from social media to the firm’s wbesite.
What is a risk of using social media to promote products?
Any mistakes or negative customer comments can be seen quickly by lots of people, so time and money needs to be spent carefully monitoring the site.
What is a promotinal mix?
When a firm uses a combination of different promotional methods to promote a product.
What are the 5 factors that might influence a firm’s promotional mix?
The finance available
Nature of the product or service
What competitors are doing
Nature of the market
Target market
