promotion- marketing

Question 1

what is promotion

Answer 1

attempt through the media to draw attention to a product and gain/ retain customers

communicate to the publuc in attempt to encourage them to purchase products

allows people to find out about producys and customers provided with up to fate info about produt

allows us to make educated choices about products

• although can encourage waste of resoucres, higher prices, greed and envy when wants are not satisfied

Question 2

what are the objectives of promotion

Answer 2

provide customers with info about products so they know the benefits and where to access

to increase sales and market share - targetting new and existing customers

establish brand identity and give [roduvts an image

• keep products in consumrts minds- remind why they bought it/ why should continue using it
• enable business planning- allowing life cycle to be continued/ prolongued- plan for prehaps increase in sales, and if doesnt work know need to imprive product prehaps through ectension stratgies as product is coming to end of life cycle

Question 3

what is above the line promotion

Answer 3

also known as advertising, advertising priduct to mass audience e.g. social media- increasing importance, magazines, TV adverts

Question 4

factors effecting choice of media

Answer 4

• depends on …
  type of product
  target market
  cost / funding avaliable
  objective- informative/ persuasive- e.g. if info i sneeded for the person to understand use of product

Question 5

pursuasive vs informative advertising

Answer 5

persuasive advertising is used when product is not neccisarily needed, not essential but to make customer want poroduct think they need it, remidn them of it. - sells itsefl throyugh image, style, aspirations of buyer, dont need to understand product

informative is when the product requires customers to understand use of procuct and how it will benefit them before they purchase it - communicates features, benefits, valure allow customers make informed decisions

• often a combination although diff products sometimes lend them selves to a certain type

Question 6

what is below line promotion

Answer 6

this is used to support above the line promotion targetting consumers directly

• personal selling - face to face, e.g. recommendations
• direct mailing - email
• packaging - attracts certain customers
• sales promotions - e.g. targetted deals to diff individuals
• PR - creating public relations - used to create + brand image

these are only usrd in short term, e.g. promotional offers only last short time

althouh… it does depend on the industry as in financial services- personal selling is a long term strategy in establishing relationship with customer

used at diff stages life cycle

Question 7

factors impacting promotional strategy

Answer 7

product differentiation- businesses want product to stand out in competitive market place so promotional activity must differentiate product, focus on the USP of the product, features and benefits not offered by competitiors

target market- young= social media

stage in product life cycle- if in growth/ intro, tryin g to gain customrts - provide info abour product, allow customers to be aware of product- informative approach

maturity- keep customers loyal, remind customers of product - persuasive- encourage repurchases and brand loysalty

cultural seneitivty- when entwring new markets may need to chnage appraoch to promotion depending on cultural norms, religeons etc

budget- lower budget may use social media

competition- if competitiors are launching a project campagin may need to follow