Promotion Flashcards
Television advertising
Costly
Better for larger businesses
Larger audience
Visual elements are engaging
Can be used to target certain customers based on programmed being watched
Disadvantages to television advertising
Less people are watching Tv and more are streaming on platforms that have no ads
Those that do have the feature to skip ads
Costly
Social media
Accounts are cheap to set up (not free)
Customers are more likely to notice the advertisements as they have demonstrated an interest by following the business
Large numbers of people use social media
Social media pages are quicker to update than other methods
Radio advertising
Cheaper than TV as there are no visuals involved
Portable and so can reach customers anywhere
Radio disadvantages
Product cannot be seen
Listeners may skip adverts by changing radio stations
Websites
Most businesses have them
Used to send a particular message to buyers in an attempt to persuade customers to buy from that business
Videos can be used to show the product in more detail
Disadvantages to websites
Setting up and maintaining a complex and well designed website can be time consuming and costly which is not good for smaller businesses
Printed media
Local newspapers for low cost advertising reaching target audience in the local area
National newspaper advertising is expensive and is useful to businesses that are of interest to people across the country
Magazines are an idea way for a business to target its market (e.g interests)
Leaflets are cost effective
Points of sales promotion
Price reductions
Competitions
Free samples
Loss leaders
Loss leaders
A product priced below cost price in order to attract customers into a shop or online store. The purpose of making a product a loss leader is to encourage customers to make further purchases of profitable goods while they are in the shop
Price reductions benefit
Businesses can sell of old stock as to not waste it
Can liquidise stock to invest in new stock
Competitions benefits
Entering the competition will give the company your personal details that they can then use to contact you
E.g email or phone number
Free samples benefits
Customers can try a sample and if they like it, leading them to potentially buy the full size
