Promotion Flashcards
Types of promotion
Sales promotion
Advertisement
Advertisement vs sales promotion
Advertisement (above the line promotions) - Promoting your product, service long term eg: newspaper television adverts
Sales promotion (below the line promotions) - short term promotions to reinforce the long term promotions this usually includes special offers and deals eg: coupons free gifts or product placement
BOGOF
Meaning
Advantages and disadvantages
Buy one get one free
Offers customers extra value
Encourages them to buy more
Loss of profit
increases cost and time
Competitions
When you buy a product and get entered into a competition
More likely for customers to buy a product
Customers may view your competitions not special anymore
Product placement
Putting branded products in a movie
Easy to read a wider audience
A larger market
Can reach your target market
Expensive
Competitive brands cancel each other out
Leaflets
A printed sheet apparently containing infomation
Easy to produce
Cheap, great when starting out
Discarded after its read, bad for the environment
Easily dismissed by consumers
Online advertising
Adverts pop up when scrolling or watching
Easy to target market
Reaches a large market
Easy to produce
Expensive
Sponsorships/ celebrities endorsement
Business donating money to an event/ team or in ideal to return of displaying or talking about your product
Reaches many people and target market
Expensive af
Marketing budget
The amount of money made available by a business for its marketing activities during a particular period of time
What is promotion
Where the marketing activities aim to raise customers awareness of a product or a brand to generate more potential customers and sales
Target audience
Refers the people who are more potentially to buy your product or service
