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I N PAIRS Identify a top brand in each of the following markets: Ice cream Teenage fashion Sportswear Frozen food Technology Explain how the brand communicates with the target market, what is the brand message? T HEME 1: M ARKETING Edexcel Business AND PEOPLE 1.3 MARKETING MIX AND STRATEGY 1.3.2 B RANDING AND PROMOTION 1.3.2 B RANDING AND PROMOTION In this topic you will learn about Types of promotion Types of branding The benefits of strong branding: added value ability to charge premium prices reduced price elasticity of demand Ways to build a brand unique selling points (USPs)/differentiation advertising sponsorship the use of social media Changes in branding and promotion to reflect social trends: viral marketing social media emotional branding THE MARKETING MIX - P ROMOTION Promotion is the activities designed to communicate with the market thereby increasing visibility and sales of a product Why will businesses use a range of promotional techniques? E LEMENTS OF THE P ROMOTIONAL M IX Create a grid of advantages and disadvantages of each type of promotion mentioned. E LEMENTS OF THE P ROMOTIONAL M IX Explain one advantage of using posters as an advertising media. Assess to what extent this advert is meant to be persuasive. P ROMOTIONAL Promotional decisions are influenced by a number of factors including: Firm’s have to be careful not to offend existing customers or society! DECISIONS Market segmentation and positioning Will the message appeal to the target market? Does the promotion support the rest of the marketing mix and correctly position the product relative to competitors Internal constraints e.g. the size of the promotional budget or the firm’s ethical objectives External influences Technology Competitors’ actions Social trends 1.3.2 B RANDING AND PROMOTION In this topic you have learnt about Types of promotion Types of branding The benefits of strong branding: added value ability to charge premium prices reduced price elasticity of demand Ways to build a brand unique selling points (USPs)/differentiation advertising sponsorship the use of social media Changes in branding and promotion to reflect social trends: viral marketing social media emotional branding R ESEARCH TASK Choose a business and put together a poster of how it promotes itself and why these particular methods are used. You should also discuss their brand and how this promotion suits/ reflects their branding.