Branding and Promotion (1.3.2) Flashcards
(21 cards)
What is the use for Branding and Promotion?
Ways of convincing consumers to buy your products. Its all about communicating your brand to consumers which will encourage them to make a purchase.
What is promotion?
An important element of the marketing mix as it plays a crucial role in generating customer awareness, interest and desire for a product/service
What are some different Methods of Promotion?
TV Adverts, Social Media, Sponsorships, Billboards, Radio, Websites, Samples etc…
What are the Different ways that Large and Small businesses should promote their business?
Large Businesses-Promote TV Adverts/Sponsorship
Small Businesses-Promote with Social Media/Websites
What is Viral Marketing?
Promotion of Products and Services using digital Technology and telecommunications. Involves using all types of Online mediums and networking tools to communicate with consumers. This could include Blogs, Newsletters, Mail Marketing etc…
Brands can use social Media to promote their Products by making adverts, posts or even sending emails to entice them.
What is advertising and how is it good and bad as a promotional strategy?
Advertising is promotion through paid channels such as television, radio, print and online advertising.
Advantages: Reaches large audiences, Creates brand image, Increases brand awareness
Disadvantages: Expensive, effectiveness of campaign difficult to measure, lots of customers tune out/ignore ads
What is direct marketing and how is it a good and bad promotion method?
Direct marketing is communicating directly with customers through email, text message, social media or post.
Advantages: Target specific audiences, personalise message to individuals
Disadvantages: Can be intrusive, may be perceived as spam, Costly
What is Branding?
More than just a logo and a slogan. Its how you can portray your values, actions and ethics which consumers and employees buy into. Features to differentiate a product or company from its competitors.
How is branding important to a business?
-Establishes recognition and identity
-Builds trust and credibility
-Differentiates business from competitors
-Creates and emotional connection with customers= repeat purchasing
What are the Three Types of Branding?
Manufacture Branding, Own-Label Branding and Product Branding
What is Manufacturer/ Corporate branding?
Refers to the use of a company name or logo to promote all the products or services offered by the company.
What are the advantages and disadvantages of Corporate branding?
Advantages:
-Creates strong brand recognition and reputation= Increased customer loyalty and trust
- Helps to introduce new products more easily
-Helps build economies of scale by promoting multiple products under one brand
Disadvantages:
-If company’s rep damaged by a product it can have a negative impact on all products
-If intense competition in one market it may affect the sales of all the products offered across other markets
What is Product Branding?
Refers to the use of a unique name, design or symbol to promote a specific product
What are the advantages and disadvantages of product branding?
Advantages:
-Creates distinct identity for product which can help differentiate from competitors
-Allows company to market different products to different segments of market
-Can help build customer loyalty
Disadvantages:
-Cost of creating new brand for each product can be expensive
-Products may have different levels of quality which can affect customer satisfaction
What is own brand or private label branding?
Refers to the use of a retailer’s name to promote a specific product or service. Own branding is often used by supermarkets
What are the advantages and disadvantages of own branding?
Advantages:
-Helps retailers differentiate themselves from competitors by offering unique products
-Allows retailers to offer products at lower cost
-Helps build customer loyalty by offering exclusive products not available elsewhere
Disadvantages:
-May have lower perceived quality than branded products which can affect customer loyalty and trust
What are the Strengths of Strong Branding? (6 Factors)
-Makes Advertising easier and more consistent
-Can help create USP’s
-Can make sponsorship more effective
-Creates differentiation from competitors
-Consumers will be attracted to your business
-It will drive Revenue and Profit
If you do bad Branding what will this mean?
-Can be expensive to repair damaged brand image
What is Emotional Branding?
Branding Strategy that appeals to consumers emotions, needs and aspirations. Process of farming a relationship between consumer and product by creating content that targets a specific emotional Level. Helps to create deep connections with customers so they care about your brand.
What are some examples of brand building?
-USP’s (helps stand out)
-Advertising (compelling ads)
-Sponsorship (brand gains exposure + builds reputation)
-Social media (create community)
Is being quicker to respond to changing social trends good?
Businesses which respond quickly to changing social trends can better meet the needs of their customers and are able to quickly adapt their branding and promotion strategies to develop brand loyalty and increase profits
