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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)
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What is promotion and what is it used for?
It is used to: T R S I
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Above the line promotion
This is _______ for advertising. The three reasons for advertising are to: I P R
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Below the line promotion
This is any form of promotion that does not involve advertising. The main methods are:
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Below the line promotion – sales promotion and PR
Sales promotions – E.g. Public relations –
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Below the line promotion – other methods
Merchandising and packaging – E.g. Direct mailing – Direct selling/personal selling – Exhibitions and trade fairs –
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What affects the choice of promotion?
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What is branding? Branding is the It takes time and effort, but once a brand is established it becomes its own means of promotion.
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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.
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What are the benefits of strong branding?
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How can firms build a brand?
It is a constant process and even well established firms continually invest in their brands.
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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 –
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