1.3.2 Branding and promotion - syllabus Candidates should be able to: List types of promotion and branding Analyse the benefits of strong branding (added value, ability to charge premium prices; reduced price elasticity of demand) Explain ways to build a brand (unique selling point/differentiation; advertising; sponsorship; the use of social media) Discuss changes in branding and promotion to reflect social trends (viral marketing, social media and emotional branding)

What is promotion and what is it used for? It is used to: T R S I

Above the line promotion This is _______ for advertising. The three reasons for advertising are to: I P R

Below the line promotion This is any form of promotion that does not involve advertising. The main methods are:

Below the line promotion – sales promotion and PR Sales promotions – E.g. Public relations –

Below the line promotion – other methods Merchandising and packaging – E.g. Direct mailing – Direct selling/personal selling – Exhibitions and trade fairs –

What affects the choice of promotion?

What is branding? Branding is the It takes time and effort, but once a brand is established it becomes its own means of promotion.

Generic brands – products without a brand name e.g. Types of branding Individual brands – name is so strong that manufacturer is irrelevant e.g. Manufacturer brands / brand family – manufacturer creates goods and their name appears e.g. Own-label brands – manufacturer created goods for another and the retailer’s name appears e.g. Generic brands – products without a brand name e.g.

What are the benefits of strong branding?

How can firms build a brand? It is a constant process and even well established firms continually invest in their brands.

Changes in branding and promotion to reflect social trends Businesses must keep up-to-date with trends and new technology. Recent developments in promoting brands are: Viral marketing – Social media – Emotional branding –