14304478
Description
Flashcards by Rhian Morgan, updated more than 1 year ago
|
Created by Rhian Morgan
over 6 years ago
|
|
| Question | Answer |
| Promotion | An attempt to obtain and retain customers by drawing their attention to a firm or its products |
| Marketing Mix | The elements of a business's marketing that are designed to meet the needs of the customers. Called the 4 P's (Product, Price, Promotion, Place) |
| Specific aims promotion can be used to achieve: | . Telling consumers about a new product . Reminding customers about an existing product . Reach a widely dispersed target audience . Reassure customers about products . Show consumers that rival products are not as good .Improve/develop the image of a business |
| Above the Line Promotion | Placing adverts using the mainstream media . E.g TV, Radio, Newspapers, magazines, Cinema, Posters, Billboards, Internet |
| Types of advertising | . Informative advertising . Persuasive advertising . Reassuring advertising |
| Below the Line Promotion | Any promotion that does not involve using the mainstream media |
| Forms of Below the Line Promotion: | .* Sales promotions . *Public relations . *Merchandising and Packaging . Direct mailing . Direct/personal selling . Exhibitions and trade fairs |
| *Sales promotions | . Methods of promoting products in the short term to boost sales .Free gifts . Coupons . Loyalty cards .BOGOF .Competitions . Money off deals |
| *Public relations | . An organisations attempt to communicate with interested parties . Press released . Press conferences . Sponsorships . Donations |
| *Merchandising and Packaging | .Product Layout . Display material . Stock |
| Choosing methods of promotion | . Cost . Market type . Product type . Stages in product life cycle . Competitors' promotions . Legal factors |
| Types of branding | . Manufacturer brands . Own label brands . Generic brands |
| Benefits of strong branding | . Added Value . Ability to charge premium prices . Reduced price elasticity of demand |
| Ways to build a brand | . Exploiting a Unique Selling Point . Advertising . Sponsorship . Using social media |
| Changes in Branding and promotion to reflect social trends | . Viral Marketing . Social media . Emotional branding |
| Emotional Branding | The practice of using the emotions of a consumer to build a brand |
Want to create your own Flashcards for free with GoConqr? Learn more.