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Outline two benefits for a business of sponsorship as a method of Public Relations (PR) - Leaving Cert Business - Question A - 2019
Question A
Outline two benefits for a business of sponsorship as a method of Public Relations (PR). B) Discuss three sales promotions techniques that retailers such as Lidl an... show full transcript
Worked Solution & Example Answer:Outline two benefits for a business of sponsorship as a method of Public Relations (PR) - Leaving Cert Business - Question A - 2019
Step 1
Outline two benefits for a business of sponsorship as a method of Public Relations (PR)
Answer
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Enhanced Image and Reputation: Sponsorship plays a significant role in creating a favorable public perception of the business. By associating with well-regarded events or teams, companies can enhance their corporate image and build trust with consumers.
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Increased Sales: Through effective sponsorship, a company can increase brand visibility, leading to a rise in sales. For instance, being regularly featured in a high-profile event like the GAA Hurling All-Ireland Senior Championship can keep the brand in the consumer’s mind and encourage purchases.
Step 2
Discuss three sales promotions techniques that retailers such as Lidl and Centra use to increase sales
Answer
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Price Reductions/Discounts: Retailers often attract customers by providing significant discounts. For example, a promotion that offers 20% off during specific days of the week encourages shoppers to buy more products.
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Money-Off Coupons: These are vouchers that provide price reductions on future purchases. Customers are incentivized to return to the store by receiving coupons, which can effectively increase loyalty and repeat sales.
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Competitions: Retailers can run engaging competitions that offer prizes like tickets to a popular event. This not only drives traffic to the store but also engages customers, creating a buzz around the brand.
Step 3
Lidl and Centra advertise using various media.
Answer
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Outline two functions of advertising:
- To inform consumers about products and services, helping them make informed purchasing decisions.
- To persuade consumers to buy a product by emphasizing its benefits and features, enhancing their willingness to purchase.
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List two advertising media that could be used by retailers and outline reasons for your choice in each case:
- Social Media: This platform allows retailers to reach a broad audience effectively and engage with them through interactive content, such as posts or contests.
- Television Advertising: With its wide reach, television can put retailers directly in front of potential customers during prime viewing hours, thus maximizing exposure and impact.