The success of an organization is attributed to marketing and advertising. Production and distribution of a product largely depend on both sales strategies.
Spending 7 to 8 per cent of the gross revenue on the sales front is highly recommended. Marketing and Advertising foundation include brand management.
Most people think marketing and advertising are the same. This is totally incorrect; Advertising is considered a straight practice, whereas Marketing is research and practice.
Key Takeaways
- Marketing is a broad business process encompassing the research, planning, and execution of strategies to promote, sell, and distribute products or services to a target audience.
- Advertising is a specific subset of marketing that focuses on creating and disseminating promotional messages through various channels, such as print, broadcast, or digital media.
- While advertising is a critical marketing component, marketing encompasses a wider range of activities, including market research, product development, pricing, and distribution.
Marketing vs Advertising
The difference between Marketing and Advertising is the main component of marketing is advertising. Marketing is to make the product for the marketplace, whereas advertising is the proclamation of a product and service to the marketplace.
Advertising is an awareness creation process about the product and service to the people. Marketing is a strategic process of aligning the product with the needs of the audience.
Advertising circulates the name of the brand and product. The marketing relates the product to the needs of the customer.
Comparison Table
| Parameter of Comparison | Marketing | Advertising |
|---|---|---|
| Definition – Meaning | Researching and understanding the needs of the customer leads to the creation of the product for that particular requirement. | It is an attention-seeking process to create awareness about a particular product. |
| Business Aspect | Production, Distribution, Price Plan, Promotion and Place of Distribution | Solely Promotional |
| Timeline in the Business | Marketing must be carried out for a long term to keep identifying the customers’ changing needs | This starts after the product is released and is done only for the short term. |
| Scope in Business | Market Research, Customer Reaction, Customer Satisfaction, Promotion, Sales, Public Relations | All mass media like Television, Radio, News Paper, Social media and Posters too |
| Primary Focus | Creating trends for the new or already existing product among the target audience | Sheer attention-seeking methods |
What is Marketing?
It is a business process to identify the ever-changing needs of the customers to produce and line up products for their requirements. This involves extensive research from the available data to design and create a suitable product for the available audience.
Marketing is also a process of identifying customer problems. The customer problems are well addressed with a comprehensive product.
It is also a way to better the competitors in the market. Data mining involves a whole lot in the process, and probable solutions are mapped according to the place and price.
Marketing is a long-term business process that tends to understand the market all the time. In fact, it is not only about promotion; it is all about identifying and supplying the required product to the customers.
Marketing involves the 6 P’s: Price, Promotion, Place, People, Product and Process. Marketing closely focuses on improving sales numbers.
A significant aspect of marketing is building a reputation among customers. Effective brand management happens through identifying the right needs to be supplied with the right product at the right price.
Marketing strategies decide the price of a product and the ways to distribute the product too. This offers a significant role in building a relationship with the people and the company.
What is Advertising?
Advertising is a marketing strategy to create awareness among people about a product or a service. It is an out-and-out promotional tactic involved in making people buy the product or the service.
It is a paid influential strategy utilized by the organization to make people buy the product. Advertising is the information passed to people in a creative way about the brand and the product.
Advertising is a one-way communication which intends to inform the customers about a particular product. Advertising is a short-term business process which forms a part of business marketing.
Advertising can be categorized as Personal and Non-personal; Advertisements on Televisions, Radios and Newspapers are Non-personal, whereas promotions through social media platform which involves cookies support are considered personal.
Based on the advertising media, advertising is categorized as Print advertising; Magazines, Newspapers, brochures etc., Broadcast advertising; Television and Radio, Outdoor advertising; Banners, Flags; digital advertising; Over the internet and digital devices.
Advertising objectives are three-fold; Inform, Influence and Remind. Primarily focusing on passing the information, the prominent objective of any advertisement is to influence people and finally, repeated advertisements help people get reminded of the product or the service.
Advertising helps improve sales for an organization. It also helps build a brand and change customers’ attitudes towards buying a product.
Main Differences Between Marketing and Advertising
- Marketing is a systematic process that involves various activities to bridge the gap between the buyer and the seller. Advertising has just one activity in a place called promotion.
- Marketing is learning the market, location, preference, buying capacity, and customer problems, but advertising is implementing the learning of placing the advertisements in the right places at the right time.
- Marketing plays a vital role in understanding the need for the product, whereas Advertising establishes the awareness of the product to the audience once manufactured.
- Marketing is the knowledge bank about the market and the customers, whereas advertising helps in presenting the product to create interest among the customers.
- Marketing requires long hours of research in data mining and finalization, whereas advertising requires long hours in making the promotion creative and quickly reachable.
- https://books.google.com/books?hl=en&lr=&id=kjB5AgAAQBAJ&oi=fnd&pg=PP1&dq=Marketing+and+Advertising&ots=XHLa_iads6&sig=_KNDftjSqMhcVmgN3VGzCGaSqHo
- https://www.ingentaconnect.com/content/westburn/tmr/2015/00000015/00000003/art00003
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