P1 Hw 10- Branding and Promotion

Question 1

Promotion

Answer 1

Involves a variety of methods to communicate with customers and persuade them to buy your product

Question 2

Price inelasticity of demand

Answer 2

How much the demand changes when the price changes

Question 3

USP

Answer 3

How doesn’t your product is from competitors

Question 4

Advertising

Answer 4

Method of promotion in order to become more well known
E.g. social media and TV

Question 5

Sponsorship

Answer 5

Common form of PR where a business will sponsor an individual or event to raise its profile

Question 6

Social media

Answer 6

A way of advertising the business to become more well known

Question 7

Viral marketing

Answer 7

A strategy that encourages people to pass on messages to others about a product or service electronically

Question 8

Emotional branding

Answer 8

The practice of using the emotions of a consumer to build a brand

Question 9

Branding

Answer 9

A characteristic, name or symbol that distinguishes one product from another rival

Question 10

Umbrella brand

Answer 10

Brands that are assigned to more than one product

Question 11

Persuasive advertising

Answer 11

attempt to convince customer to buy product by appealing to wants and needs

Question 12

Corporate brand

Answer 12

promoting the brand name of a corporate entity as opposed to specific products

Question 13

Public relations

Answer 13

how people perceive your business which can lead to a positive or negative reputation