1.3.2

Question 1

What is Promotion?

Answer 1

Promotions generate customer awareness and interest for a product or service.

Question 2

What are 6 types of Promotion?

Answer 2

Advertising
Sales Promotion
Direct Marketing
Personal Selling
Sponsorships
Public Relations

Question 3

What is Advertising as a promotion method?

Answer 3

Advertising is using paid channels to promote products or services.

Question 4

1 ADV of Advertising promotion method?

Answer 4

Reach large audience.

Question 5

2 DISADV of Advertising as a promotion method?

Answer 5

Expensive
Not as targeted

Question 6

What is Sales Promotion as a promotional method?

Answer 6

Offering temporary incentives to encourage purchases.

Question 7

2 ADV of Sales Promotion?

Answer 7

Helps clear out unwanted stock
Can quickly boost sales.

Question 8

2 DISADV of Sales Promotion?

Answer 8

Attracts non loyal customers looking for deals
Expensive if requires large discount

Question 9

What is Direct Marketing?

Answer 9

Communicating directly with customers through email, text or social media.

Question 10

1 ADV of Direct Mail?

Answer 10

Target a specific audience.

Question 11

1 DISADV of Direct mail?

Answer 11

Costly if firms do not have a pre existing customer base.

Question 12

What is Personal Selling?

Answer 12

Occurs when sales people interact with customers one to one.

Question 13

1 ADV of Personal selling.

Answer 13

Targets specific audience.

Question 14

2 DISADV of Personal Selling.

Answer 14

Expensive to hire new employees
Customers may find it intrusive

Question 15

What is a Sponsorship?

Answer 15

Occurs when a firm provides financial support in return for marketing exposure from another organisation.

Question 16

3 ADV of Sp onsorships>?

Answer 16

Can create emotional connections
Brand awareness
Reach target audience

Question 17

2 DISADV of sponsorships?

Answer 17

Expensive for high profile organisations
Could be subject to negative publicity

Question 18

What are Public Relations?

Answer 18

Building relations with the public and managing their reputation.

Question 19

2 ADV of Public Relations?

Answer 19

Can enhance business reliability
Increase customer loyalty

Question 20

What is Branding?

Answer 20

Branding is when a firm has differentiated itself from others and become recognisable.

Question 21

Why is Branding important to have? 7 reasons

Answer 21

Firm becomes recognisable
Firm begins to have trust and reliability
Ability to charge premium prices
Helps repeat Purchases
Add value (perceived as higher quality and trust)
Develop barriers of entry
Reduce the price elasticity

Question 22

What are 3 types of Branding?

Answer 22

Product branding
Manufacture/corporate branding
Own brand Branding

Question 23

What is Product Branding?

Answer 23

Refers to using a unique name or design to remote specific products.

Question 24

What are 1 ADV of product branding?

Answer 24

Allows the firm to make products for different market segments

Question 25

What are 2 DISADV of product branding?

Answer 25

Cost of creature bag a new brand for each product can be expensive Introducing new products under different brands is time consuming.

Question 26

What is Manufacturer/Corporate Branding?

Answer 26

Refers to the use of a company name or logo to promote a product.

Question 27

What are 2 ADV of Corporate branding?

Answer 27

Economies of scale by promoting multitalented products under one brand Strong brand recognition increases trust

Question 28

2 DISADV of Corporate Branding?

Answer 28

If companies reputation is damaged it may affect all products negatively. If company faces intense competition in one market it may impact other products offered.

Question 29

What is Own Brand Branding?

Answer 29

Refers to the use of retailers name to promote specific products.

Question 30

2 ADV of Own branding?

Answer 30

Build customer loyalty if products aren’t sold elsewhere Promote products cheaper which can pass on lower prices to customers.

Question 31

1 DISADV of Own Brand Branding?

Answer 31

Quality can be perceived as poor.

Question 32

What are 3 ways to build a brand?

Answer 32

USP Advertising Sponsorships

Question 33

How could USP build a brand?

Answer 33

USP are features that make a product stand out over rivals Emphasising USP in their marketing efforts

Question 34

How could advertising be used to build a brand?

Answer 34

This way firms can build emotional connections and inspire brand loyalty.

Question 35

How can sponsorships build brands?

Answer 35

Firms can gain exposure by showing what values align with them and create a community.

Question 36

Changes in Branding and promotion to reflect social trends?

Answer 36

Businesses which respond quickly to social trends can better meet customer needs Quickly adapting branding, will help gain customers and develop connections.

Question 37

What is Viral Marketing?

Answer 37

A strategy where business create content and post it on social media at specific times, in order to promote products.

Question 38

What is social media?

Answer 38

As social media evolves, business must adapt their strategies to keep up with latest trends.

Question 39

What is Emotional Branding?

Answer 39

Emotional branding is a strategy where companies build strong connections with their customers to appeal to their values.