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Business GCES EDEXCEL

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  1. 1-1-Enterprise-And-Entrepreneurship edexcel
    3 主题
  2. 1-2-Spotting-A-Business-Opportunity edexcel
    4 主题
  3. 1-3-Putting-A-Business-Idea-Into-Practice edexcel
    6 主题
  4. 1-4-Making-The-Business-Effective edexcel
    4 主题
  5. 1-5-Understanding-External-Influences-On-Business edexcel
    5 主题
  6. 2-1-Growing-The-Business edexcel
    9 主题
  7. 2-2-Making-Marketing-Decisions edexcel
    5 主题
  8. 2-3-Making-Operational-Decisions edexcel
    4 主题
  9. 2-4-Making-Financial-Decisions edexcel
    2 主题
  10. 2-5-Making-Human-Resource-Decisions edexcel
    4 主题
  11. 3-1-The-Exam-Papers edexcel
  12. 3-2-Business-Exam-Skills edexcel
  13. 3-3-Structuring-Your-Responses edexcel
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Exam code:1BS0

Types of promotion

  • Promotion is an important element of the marketing mix as it plays a crucial role in generating customer awareness, interest and desire for a product/service

    • A business can communicate its value proposition to potential customers and differentiate itself from competitors

    • Promotion helps to build brand awareness and loyalty which can lead to repeat purchases and referrals

  • The promotion element of the marketing mix includes a variety of promotional methods

Diagram with "Types of Promotion" in the centre, connected to "Branding", "Advertising", "Product Trials", "Sponsorship", and "Special Offers".
The different types of promotional methods available to a business to communicate with their target market

  • Each method has advantages and disadvantages associated with their use

  • Businesses must select the most appropriate methods for their product/service, target audience and budget

An explanation of promotional methods

Method

Explanation

Advantages

Disadvantages

Advertising

  • Promotion occurs through paid channels such as television, radio, print media (magazines), and online advertising

  • It can reach large audiences and increase brand awareness 

  • Can also be used to create a specific brand image or message e.g. the advertising campaign run by Compare the Market (Meerkat)

  • Can be expensive 

  • The effectiveness of advertising can be difficult to measure 

  • Many customers tune out or ignore ads

Branding

  • Branding is the process of creating a unique and identifiable name, design, symbol, or other feature that differentiates a product/service or company from its competitors

  • Branding establishes recognition and identity 

  • Branding builds trust and credibility 

  • Branding differentiates a business from its competitors

  • Branding is expensive 

  • Developing a strong brand takes time

Special offers

  • These are temporary incentives or discounts such as free samples, buy one get one free (bogof), discount coupons, loyalty cards, and rebates (customers have to mail in to receive money back)

  • Can quickly boost sales or customer engagement 

  • Can help to clear out stock or promote a new product 

  • Can encourage impulse purchases

  • Can be targeted to specific segments of customers

  • Can be expensive especially if the promotion requires heavy discounting 

  • Can attract deal-seeking customers who may not be loyal to the brand 

  • May reduce the sales of full-priced products

Sponsorship

  • This is an agreement in which a company provides financial or other support to an event, team, or organization in exchange for marketing exposure 

  • Can take many forms, such as logo placement or naming rights (Arsenal Emirates Stadium)

  • Can help to build brand awareness and credibility

  • Can create emotional connections with target audiences 

  • Can support specific business objectives, such as entering new markets or reaching new customers

  • Can be expensive, especially for high-profile events or properties 

  • May not directly drive sales 

  • May be subject to negative publicity if the sponsored entity experiences a scandal or controversy e.g. In 2022 Kanye West was dropped by Adidas after his anti Semitic outbursts

Product trials

  • Product trials involve testing the market by first selling the product in a confined area such as South West London, to gauge demand and collect feedback on the product

  • The customer reaction may generate information on how the product or marketing mix can be improved

  • Product trials may not be suitable for all types of products 

  • It takes time and money to run effective product trials

The use of technology in promotion

  • Businesses which respond quickly to changing technological trends are able to better meet the needs of their customers

  • Three current technological trends businesses are adapting to include viral marketing, the use of social media, and e-newsletters

Viral Marketing

  • Is a strategy where businesses use online platforms to promote their products by creating content at specific times, which can easily be shared and commented on

    • E.g. During the COVID-19 pandemic, Coca-Cola and McDonald’s ran campaigns that emphasised community which aligned with the public’s need for social support 

Social Media

  • As social media platforms evolve, businesses must also adapt their social media strategies to keep up with the latest trends

    • E.g. Instagram has been a popular platform for businesses to promote their products through influencer partnerships

    • More recently many businesses have shifted their focus to promoting their brands through short-form video content on platforms like TikTok 

E-newsletters

  • Businesses build a mailing list which they then use to promote their products/services to

  • The business may need to offer an incentive for potential customers to give up their email address e.g. name entered into a monthly draw to receive £150 Amazon voucher

  • Once the business has a list they can use it to to repeatedly to promote products and to build a deeper connection with potential customers

    • However, the business must be careful of sending too many emails which may annoy the potential customers

Responses

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