Commerce- Promoting and selling + running a business Flashcards
what are the four main factors that differentiate products;
- Consumer service
- Convenience
- Value for money
- Quality
what is the purpose of promotions
the role of promotion is to inform, persuade and remind consumers about a business’s products with the aim of attracting customers and increasing brand loyalty
what is advertising?
a paid, non-personal message communicated through a mass medium that is flexibility to reach an extremely large audience or a small, specific segment and very high levels of control over the message
what are the types of advertising
mass marketing, direct marketing, telemarketing, e marketing, social media and billboards
what is personal selling
the activities of a sales representative directed to a customer in an attempt to make a sale.
what is an an opinion leader
a person who influences others - These individuals are used as information outlets for new products and to endorse new ones.
- Traditionally consists of actors, singers, models, etc
- Increasingly using “influencers” due to more targeted audience and lower costs
what is publicity
refers to any free news story about a business/product, unlike advertising, the business is not in control of the message.
what does publicity aim to do?
- Enhance the image of a product
- Raise awareness of a product
what are public relations?
Activities aimed at creating and maintaining favourable relations between businesses and customers
what are sales promotions
direct encouragement to customers in an attempt to sell more product.
what is the aim of sales promotions?
- Entice new customers
- Encourage trial purchase of a product
what are the main features of marketing segmentation
age, gender, income, education, location, lifestyle, family structure
what is the aim of market segmentation
to increase sales and profits by understanding customers and responding to needs
primary target market
will generate most revenue for the business. Loyal customers, repeat business
Secondary target market
alternative in case there is a loss of customers from the primary target market
