1.3.2 Ways to build a brand

• What are four common types of promotion used by businesses?

  Advertising, sales promotions, public relations, direct marketing
• What is advertising?

  Paid promotion through media channels
• What are sales promotions?

  Short-term incentives like discounts
• What is the purpose of public relations?

  Activities to improve brand image
• What is direct marketing?

  Targeted messages to specific customers
• What is product branding?

  Brand focused on a specific product
• What is corporate branding?

  Branding that represents the company as a whole
• What is added value in branding?

  Strong branding makes products more appealing
• How does strong branding affect pricing?

  Strong brands can charge higher prices
• What does reduced price elasticity of demand mean?

  Consumers are less sensitive to price changes
• What are the characteristics of a good USP?

  Customer-centric, memorable, and distinctive
• What is a Unique Selling Point (USP)?

  A distinctive feature that sets a product apart
• What is the role of advertising in branding?

  Creates awareness and drives sales
• How should advertising be designed?

  Targeted, consistent, and creative
• What is sponsorship in branding?

  Supporting an event or organization financially
• What is the purpose of sponsorship?

  To boost brand visibility and association
• How does social media contribute to branding?

  Creates brand identity and engages consumers
• What types of content do brands use on social media?

  A mix of images, videos, and stories
• What is targeted advertising on social media?

  Ads aimed at specific demographics
• What is real-time feedback in social media?

  Immediate responses through likes and comments
• What are the key benefits of strong branding for a business?

  • Added value to products
  • Ability to charge premium prices
  • Reduced price elasticity of demand
• What is a disadvantage of social media branding?

  Potential for negative feedback to spread quickly
• How do different brands promote their goods and services?

  Through various strategies like advertising and sponsorship