Promotiok Flashcards
1
Q
Influences on promotional mix
A
1) budget
2) target market
3) what promotion says about product
4) positioning
5) competitive environment
6) technology available
2
Q
What is branding
A
A promise to deliver certain benefits and services
Identified by symbol or logo In order to create a brand
3
Q
Importance of branding
A
1) demand is more price inelastic- can charge a higher price
2) harder for competitors to enter market- decreasing competition
3) easier to launch other products under brand name, diverse product portfolio
4) customers become brand ambassador- social media
