1.3.2 branding and promotion

promotion

activities designed to communicate with the market, increasing visibility and sales of a product

what elements are in the promotion mix?

advertising, pr, branding, direct selling, sales promotion, merchandising

what is promotion designed to create?

awareness, interest, desire, action (AIDA)

promotional decisions are affected by what?

market segmentation/positioning, internal constraints, external influences

examples of internal constraints

promotional budget, ethics

examples of external constraints

tech, competitors, social trends

promotional methods

pr, merchandising, sales promotions, advertising

what is pr?

communicating with the media to get favourable publicity

what is merchandising?

the way in which a firm promotes its product at point of sales (POS)

what are sales promotions?

short term offers used to increase sales

what is advertising?

paid promotion of a product through mainstream media

types of branding

corporate, personal, geographical

what is corporate branding?

attaching a perception and promise to goods/service associated with that brand

what is personal branding?

when a person brands themselves (sports personality, popstar)

what is geographical branding?

when a place creates a brand that epitomises the lifestyle/culture of a place

benefits of a strong brand

brand loyalty, added value, can charge premium prices, reduced PED

ways to build a brand

USP, advertising, sponsorship

use of social media to build a brand

use of targeted newsfeeds, viral marketing/social trends, emotional branding