Many people confuse marketing with advertising or vice versa. Though both components contribute to the same end objective they are distinct from each other. Understanding the difference between marketing and advertising can put your company on the path to substantial growth.
Marketing is the long-term process of systematic planning and implementation. This process is intended to create a market for the new or existing product and build the brand’s image. It involves understanding who your potential customers are and what they want to get from your product or service. Marketing consists of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Marketing defines your brand and attracts the market share you want.
To market your product or service, you must first research your target audience. Identify their values and needs. If you face a conservative, quality conscious demographic, develop a campaign that showcases your brand as being high end, tried and true. If, on the other hand, you are reaching out to the dynamic risk-takers, use and edgier, more forward-thinking approach to develop the image of your product. Compose and easy-to-remember slogan or mission statement that communicates your brand message, and create promotional materials that reflect the tone and personality of that message.
Advertising is a part of the marketing process which is done with the aim of seeking the attention of the public towards a particular product or service. This is a paid, public, process of making your product and service known to the marketplace. Once your product image is developed and your marketing strategy is in place, present your product or service to your audience through advertising. Print, television, radio, and the internet are all venues that can communicate your brand to potential buyers. Social media is an inexpensive but powerful option: tools such as Twitter, Facebook, LinkedIn, and Google+ can help spread the word about what it is you have to offer. Because your marketing strategy has identified your target audience, you can now focus your advertising dollars on the specific types of media used by that audience to increase your likelihood of successfully acquiring new customers.
Key differences between Marketing and Advertising are:
- Advertising is marketing, but marketing is not advertising.
- The Product, Price, Promotion, Place, People, and Process are the six major aspects of Marketing. Promotion is the major aspect of Advertising.
- Marketing focuses on creating a market for the product and building reputation whereas advertising focuses on seeking public attention.
Similarities of Marketing and Advertising:
- The major objective of both is to increase sales.
- Both promote the product to target customers.
It is critical to understand that advertising is only a single component of the marketing process. It’s the part that involves getting the word out concerning your business, product, or the services you are offering. It involves the process of developing strategies such as ad placement, frequency, etc. Marketing is much larger, it is the entire process that an organization has to facilitate an exchange between company and consumer.
While marketing is the way in which you convince potential buyers that you have the right product for them, advertising is how you communicate to the consumers, the existence of that product.