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BTEC Buisness > The promotional mix- pages 1-9 > Flashcards

The promotional mix- pages 1-9 Flashcards

1
Q

What is Promotion?

A

Promotion is any method of communication that tries to encourage potential and current customers to buy products

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2
Q

Purpose of promotion

A
  • Create a positive image of the enterprise in the minds of current and potential customers
  • Encourage current and potential customers to buy products
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3
Q

Promotional mix definition

A

A combination of promotional methods that can be used to get potential customers to buy products.

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4
Q

What the elements of promotional mix?

A
  • Direct Marketing
  • Advertising
  • Sales promotion
  • Personal Selling
  • Public Relations
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5
Q

Advertising

A

It is based on the message and medium

  • Message is what the communication needs to say
  • Medium is how the message gets across to current and potential customers- the target market
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6
Q

What is the purpose of advertising?

A

To inform and persuade, these purposes are linked as once a customer knows about a product/service, they may be more likely to buy it

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7
Q

Direct Marketing

A

When an enterprise communicates with a customer directly to try to sell them something, either by phone or written communication

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8
Q

Personal Selling

A

When a representative of an enterprise contacts current and potential customers directly- either face to face, by telephone, email or video conferencing

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9
Q

Sales promotion

A

Designed to boost sales by offering an incentive to current and potential customers to buy a product

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10
Q

Purpose of sales promotion

A
  • Maintain customer loyalty
  • To boost sales figures
  • To attract first-time buyers
  • To entice people into a shop
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11
Q

Public Relations

A

Involves building and maintaining an enterprise reputation- it’s image through the media

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12
Q

How do enterprises choose the promotional methods?

A

Depends on their product and how suitable it is for the size of the enterprise

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13
Q

Target Markets

A

Enterprises identify which groups of people are most likely to buy their products which is their target markets

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14
Q

What does ‘the message’ mean in advertising?

A

This is what an enterprise wants to tell current and potential customers about it’s products

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15
Q

Key features of the message in adverting may include…

A
  • Low price
  • Good quality
  • Fashionable
  • Useful
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16
Q

Methods of advertising

A
  • Moving image
  • Print
  • Ambient
  • Digital
  • Audio
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17
Q

Where does advertising appear in ‘Moving image’?

A
  • Television
  • Cinema
  • Video sites
  • Promotional DVDs
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18
Q

Where does advertising appear in ‘Print’?

A
  • Local and national newspapers
  • Magazines
  • Leaflets
  • Billboards
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19
Q

Where does advertising appear in ‘Ambient’?

A

Public places, such as bus stops and shopping centers

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20
Q

Where does advertising appear in ‘Digital’?

A

Company websites and social media, such as Instagram and Pinterest

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21
Q

Where does advertising appear in ‘Audio’?

A

Local and national radio

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22
Q

How does enterprises choose which advertising method to use?

A

This is influenced by different factors which is most suitable to promote their product

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23
Q

Name the factors which influence choice of adverting method

A
  • Type of product
  • Potential sales
  • Cost
  • Characteristics of target market
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24
Q

Why does ‘type of product’ influence advertising choice?

A

It is how best to promote a product’s features

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25
Why does 'cost' influence advertising choice?
Methods like television adverts can be very expensive and only suitable for large enterprises. However other methods like leaflets may be better value of small enterprises
26
Why does 'potential sales' influence advertising choice?
An enterprise will want to get a financial return from it's investment in advertising
27
Why does 'characteristics of target market' influence advertising choice?
Factors like income, gender and age will influence the method used to attract customers
28
Name an advantage of 'moving image' as advertising
Enables products with moving parts or practical use to be seen in action for how they can be used
29
Name an advantage of 'print' as advertising
Likely to be seen by a large number or people, in a specific location through local newspapers and billboards or a wide area with the use of national newspapers and magazines
30
Name an advantage of 'Ambient' as advertising
Outdoor adverting aims to catch the attention of passers-by
31
Name an advantage of 'Digital' as advertising
Enables a large and small business to connect with large numbers of people instantly
32
Name an advantage of 'Audio' as advertising
Allows businesses to speak directly to their target market
33
Main methods of sales promotion
- Coupons - Free samples - Competitions - Money off/discounts - Loyalty incentive - BOGOF
34
Advantage of coupons
May encourage customer to buy the product rather than a rival product
35
Disadvantages of coupons
Impacts on profit if money-off price doesn't cover costs of product
36
Advantages of free samples
Having tried the product, customers may decide to buy which increases profit
37
Disadvantages of free samples
Impacts on profit if less sales are generated
38
Advantages of competitions
Appeals to people sense of thrill to winning therefore to build interest in the product
39
Disadvantages of competitions
Impacts on profits
40
Advantages of money off/discounts
Encourages customers to buy more products
41
Disadvantages of money off/discounts
Impacts on profit if less sales are generated
42
Advantages of Loyalty incentives
Establishes a long-term relationship with customers; customers may choose the enterprise's products over another
43
Disadvantages of loyalty incentives
Impacts on profit if less sales are generated
44
Advantages of BOGOF
May encourage customers to buy additional products as they have saved money else where
45
Disadvantages of BOGOF
Impact on profit if less sales are generated
46
What in face-to-face method in personal selling?
The salesperson is in direct personal contact with the customer
47
What is telephone method in personal selling?
The salesperson makes phone calls to the customer (usually from a call center)
48
What is email method in personal selling?
The salesperson communicates electronically with the customer
49
What is video or web conferencing method in personal selling?
The salesperson communicates with the customer through a webcam
50
Ad of face-to-face personal selling
Can answer customer's questions instantly
51
Dis of face-to-face personal selling
Can be time-consuming therefore expensive
52
Ad of telephone personal selling
Able to contact customers anywhere at a time that is convenient
53
Dis of telephone personal selling
Lots of customers may not answer the call making it a less efficient method
54
Ad of email personal selling
Can send customer web links and additional information and sales brochures in email attachments
55
Dis of email personal selling
No guarantee that initial email will be read by customer
56
Ad of video or web conferencing
Able to watch customer's facial expressions/ body language and respond instantly
57
Dis of video or web conferencing
Requires access to webcam facilities
58
Purpose of public relations
- Encourage positive views of the enterprise among the general public and other organisations - Protect and enhance the brand image
59
Brand image definition
A set of beliefs and opinions associated with a product/service in the minds of consumers
60
Name the three types of public relations methods
- Exhibitions - Sponsorship - Press release
61
What is a press release?
A word article produced by an enterprise and sent to news agencies highlighting something newsworthy about a new or existing product/service. This covers the five W's (who,what,when,why) and maybe photos
62
What is a exhibition?
These are commercial events where many enterprises exhibit their products or explain the services they offer. Newsworthy stories may be published by local and national news.
63
What is a sponsorship?
Enterprises pay to have their name and brand displayed at major events. Can also use celebrity endorsements to show off goods and services.
64
What is a promotional stunt?
Some enterprises use one-off publicity stunts to catch the attention of the media and general public.
65
Advantages of all public relation methods
- Improve brand image - Reaches a wide audience - Free positive publicity from a neutral source such as a newspaper
66
Disadvantages of all public relation methods
- News story may not be picked up by the media - Difficult to measure impact of reputation - Enterprises have no control over how journalists may write up the story- if negative can effect brand image
67
Purpose of Direct Marketing
- Enables enterprise to set up an individual relationship with the customer. - Able to tailor the message being sent to customers to meet their needs
68
Benefit of direct marketing
May introduce new customers to products
69
Limitations of direct marketing
- Uninvited phone calls may be unwelcome | - Customers may ignore written communication
70
Methods of direct marketing
- Magazines - Email marketing and text messaging - Telemarketing - Direct mail - Catalogues
71
What is direct mail in direct marketing?
This is leaflets. letters and brochures about new products, suitable for small enterprises
72
What is catalogues in direct marketing?
Include photos and description of products and information on how to order
73
What is magazines in direct marketing?
Enterprises use their own magazine including features and news of its latest products
74
What is email marketing and text messaging in direct marketing?
Both could include links to the enterprises website, mainly used by enterprises with a online presence
75
What is telemarketing in direct marketing?
Sales representatives make phone calls to inform customers of offers or new products

BTEC Buisness (23 decks)

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