unit 2 promotion Flashcards
promotion
communication used to inform people about a product
importances of promotion
persuade costumers to buy it explains features introduce new product tells them where it is sold favourable image of business
types of promotion
advertisement
point of sale promotion
price reduction
shops do this in january and july to rid of old stocks
remove old prototypes of products
customers would not buy it if it was not on sales
may not boost profit + short term
loss leader
business will sell a product with no profit in hopes that this will entice people to buy other products which will pay for the lost
some people will only buy the one product
free samples
cosmetics persuades them to try it as they will be reluctant to spend money on a product that they do not know of if they do like it they start buying the product
competition
boost sales consumers are enter into monthly competition with high priced products e.g holiday
social media
cheap and popular
businesses will ask people to join their facebook for a prize
large audience
if it is for the OAP it is not ideal as they do not use the internet
websites
advertise via videos to inform and impress buyers
can be expensive but can be cheaper for small businesses
can be a successful method
radio
cheaper used by small businesses are radios are often local
portable
anywhere at anytime
not for tangible items as we cannot see them
television
large businesses reach wide audience customers targeted via TV programmes expensive sort of forgettable
printed - leaflets
locals shops can post leaflets door to door to the locala area bigger companies may leave in in shopping centres
can target audience easily and is cheap
printed - magazines
can target demographic easily
published on a monthly basis so it may be a issue fora business that wants their product to be advertised regularly
