1.3 Design Branding Promoion

Question 1

What will designers take into account when creating a new product

Answer 1

Shape and appearance
Whether it fits the intend need
How easily and cost effectively it can be made
Materials to be used
Image of the final product
What it says about the business

Question 2

What does the design mix contain i

Answer 2

Aesthetics, function and economics manufacture

Question 3

Business Ethics

Answer 3

Honesty
Avoid conflicts
Compliance
Relevant information
Law abiding
Fulfilling commitments

Question 4

How a business might promote their ideas

Answer 4

Telling customers about a new product
Reminding customers about an existing product
Reaching a new target audience
Reassuring customers about a product
Showing customers that rival products are not as good
Improving or developing the image of the business

Question 5

Types of advertising

Answer 5

Above the line and below the line

Question 6

Definition of Above the line promotion

Answer 6

Advertising products in the media

Question 7

Definition of Informative (above the line promotion)

Answer 7

Increasing awareness

Question 8

Definition of Persuasive (above the line promotion)

Answer 8

Pressure to buy a product

Question 9

Definition of Reassuring (above the line promotion)

Answer 9

Aimed at existing customers to suggest the brought the right product

Question 10

Definition of Below the line promotion

Answer 10

Any type of promotions which does not involve advertising
E.g. public relations, merchandising and packaging, direct mailing, direct selling and exhibitions and trade fairs

Question 11

Definition of manufacturers brands

Answer 11

Brands created by the producer of he good or service

Question 12

Definition of own label brands

Answer 12

Manufactured for retailers but have the retailers name on it

Question 13

Definition of Generic brands

Answer 13

Products which only have the name of the product on it

Question 14

Benefits of a strong brand

Answer 14

Added value
Premium prices
Reduced PED

Question 15

Definition of Price

Answer 15

The amount that customer has to pay in order to have access to or acquire a good or service

Question 16

Different types of pricing strategies

Answer 16

Penetration pricing
Competitor pricing
Predatory pricing
Psychological pricing
Price skimming
Loss leader
Cost plus pricing
Discrimination pricing

Question 17

Definition of Penetration pricing

Answer 17

Price is set lower in order to gain market share

Question 18

Definition of Competitor pricing

Answer 18

Price matching to your nearest competitor

Question 19

Definition of Predatory pricing

Answer 19

Sustaining low price to drive competitors out of the market

Question 20

Definition of Psychological pricing

Answer 20

Pricing an item to make it appear better value
E.g. 99p instead of £1

Question 21

Definition of Price skimming

Answer 21

Price is set gig usually at launch to maximise profits

Question 22

Definition of Loss leader

Answer 22

Price is set below the cost as a way of attracting customers

Question 23

Definition of Cost plus pricing

Answer 23

A percentage mark up is added to unit cost of production of an item

Question 24

Definition of Discrimination pricing

Answer 24

Charging different price to different customers for the same item

Question 25

Factors affecting pricing decisions

Answer 25

Differentiation and USP PED Competition Branding Stage of the product life cycle

Question 26

Definition of Distribution

Answer 26

The way in which something is shared between a group of people

Question 27

Different marketing channels

Answer 27

Direct Retail Wholesale Agent

Question 28

Direct channel

Answer 28

Producer -> consumer

Question 29

Retail channel

Answer 29

Producer -> Retailer -> consumers

Question 30

Wholesale channel

Answer 30

Producer -> Wholesaler -> Retailer -> Consumers

Question 31

Agent channel

Answer 31

Producer -> agent/broker -> wholesaler -> retailer -> consumer

Question 32

Definition of Product Lifecycle

Answer 32

A process a product goes through in terms of being created, advertised, sold and then removed from the market

Question 33

What are the stages of the product life cycle

Answer 33

R&D, introduction, growth, maturity, extension strategies and decline

Question 34

Definition of Launch

Answer 34

Product is put on sale for the first time

Question 35

Definition of Saturation

Answer 35

Product may now start to face challenges from competitors

Question 36

Definition of Maturity

Answer 36

Sales have hit a peak and the business may start looking at new ways of developing the product

Question 37

Definition of Development

Answer 37

Product is not on sale, product is being tested and refined, production process is being designed

Question 38

Definition of Growth

Answer 38

Sales begin to expand as word of mouth creates customer awareness

Question 39

Definition of Decline

Answer 39

Sales fall sharply as competitors provide better rival products

Question 40

Definition of Extension Strategies

Answer 40

Lengthening the life of a product in the market

Question 41

Examples of extension strategies

Answer 41

More simple: Lowering prices Increasing advertising More complex: Changing the name Changing the logo Creating a new promotional campaign Modifying the look Introducing new varieties

Question 42

What is the aim of extension strategies

Answer 42

To simulate interest again or make the product appeal to a different market segment

Question 43

Definition of Differentiation

Answer 43

Products that stand out/different/better than competition

Question 44

Methods of Differentiation

Answer 44

Unique functions Unique style or design Create and use a distinctive brand name Provide consistently excellent customer service Ensure the product is made to a high quality

Question 45

Definition of Product Portfolio

Answer 45

Every product that a business has/owns

Question 46

Definition of Product range

Answer 46

Every type of product a business owns in one section of their portfolio

Question 47

Boston Matrix

Answer 47

Star - higher market growth, high racket share Question mark/problem child - high market growth, high market share Cash cow - low market growth, high market share Dog - low market growth, low market share

Question 48

What are the 4Ps of the marketing mix

Answer 48

Price, product, place and promotion

Question 49

Definition of Marketing strategies

Answer 49

A set of plans to meet a marketing objective

Question 50

What does B2B stand for

Answer 50

Business to business Businesses sell to other businesses

Question 51

What does B2C stand for

Answer 51

Business to Consumer Businesses sell directly to consumers

Question 52

Definition of Outbound Marketing

Answer 52

directly marketing at potential customers whether they are expecting it or not E.g. emails, telemarketing, target adverts etc Often more expensive then inbound

Question 53

Definition of Inbound Leads

Answer 53

Attracting potential customers to the websites when they are looking for suppliers or a solution to a problem E.g. Blogging, social media marketing, search engine optimisation, free e-books, video marketing, target email marketing