Promotion: Business: Pearson (Edexcel): GCSE (9:1)

Promotion

How a product is advertised and any special deals or discounts that make it attractive to customers

Advertising

Any paid-for way of promoting the goods and services of a business to the customer

Advertising media

Different methods of advertising i.e. T.V. Radio, Internet, Newspapers & Magazines, Posters, Leaflets, Mail, and Cinema advertising

Advantages of advertising

More public awareness, increased sales, better image

Disadvantages of advertising

Expensive, opportunity cost

Public Relations (P.R.)

Managing information about a business to show it in a positive light

BOGOF

Buy-One-Get-One-Free

Sponsorship

When a business funds an individual or team in exchange for media exposure

Product placement

Having high profile use of a product i.e. in a popular film or TV show

Influencer

A person who uses their popularity (often online) to promote a product

Unique selling point (U.S.P.)

What makes a product different and sets it apart from competitors

Direct mailing

Posting letters and leaflets to potential customers homes and workplaces, sometimes called 'junk mail'

Discount

An amount taken off the normal price

Sale

When a business promotes discounted prices for a limited time