Business - Promotional Methods

Advertising

  • This involves a business paying to have their product or service promoted in a public space

  • It aims to make customers aware of a product and get them to buy the product or service

  • Advertising can happen through various platforms such as newspapers, magazines, television, internet, billboards or social media

  • The platform that a business uses depends on the target market of the product or service

Public Relations

  • This involves maintaining a good public image

  • The aim of PR is to make sure this information is as positive as possible and reaches the largest possible audience

  • Public Relations involves managing the spread of information about the company

  • An example of PR is the use of newspaper editorials, where people in a firm manage the business’ relationships with different newspapers, sending them articles to publish about the firm

  • Businesses do not pay the newspaper for this coverage like they would for advertising

Sales Promotion

  • In sales promotion businesses try to boost sales using a temporary promotion

  • The different types of sales promotion are: value for money offers (buy one get one free), free gifts, point of sale displays, discount coupons, samples and competitions

Sponsorship

  • Sponsorship involves paying athletes, celebrities or other organisations for them to advertise for a business

  • Nike pay lots of sportsmen and women to wear Nike clothing and Nike equipment

  • Consumers that see famous sportsmen/women wearing Nike may be more likely to buy Nike clothing

  • Celebrity endorsements are similar to sponsorship and famous people may use a product or be seen doing something

  • Lenny Henry is a comedian that features in premier Inn’s TV adverts

Social Media

  • Firms can use social media for paid advertisements as well as for creating their own pages through which to share content

  • Social media can also be an effective way of making sure that a business targets the right people

  • Businesses can pay Facebook or Instagram to target a precise group of people in a particular age group

  • Social media adverts can also be updated and changed cheaply ad easily which is another benefit