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
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
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 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
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