Promotion (Edexcel GCSE Business): Flashcards
📚Flashcards
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Practise the cards
14 cards from this deck
What promotion does for businesses
What promotion does for businesses
Creates awareness & generates interest in products/services
Five main types of promotion methods
Five main types of promotion methods
Advertising, sponsorship, product trials, special offers, PR
Examples of advertising
Examples of advertising
TV ads, radio, magazines, posters, websites, leaflets
Main advantage of advertising
Main advantage of advertising
Can reach huge numbers of potential customers
Main disadvantage of advertising
Main disadvantage of advertising
Very costly & difficult to measure sales impact
Main advantage of sponsorship
Main advantage of sponsorship
Exposure while linking brand with positive causes
Main disadvantage of sponsorship
Main disadvantage of sponsorship
Limited space to explain product features/benefits
Main advantage of product trials
Main advantage of product trials
Customers experience product directly
Main disadvantage of product trials
Main disadvantage of product trials
Reduces immediate profits, expensive to distribute
Main advantage of special offers
Main advantage of special offers
Quickly increase short-term sales & clear excess stock
Main disadvantage of special offers
Main disadvantage of special offers
Reduces profit margin, not sustainable long-term
What public relations involves
What public relations involves
Using consistent logos for brand recognition & memory
What determines promotion method choice
What determines promotion method choice
Characteristics of the target market
How promotion leads to increased sales
How promotion leads to increased sales
Builds brand recognition → trust → higher sales revenue