Success of an organization is attributed to marketing and advertising. Production and distribution of a product largely depends on both sales strategies.
It is highly recommended to spend 7 to 8 percentage of the gross revenue on the sales front. Marketing and Advertising foundation include the 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.
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 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. Marketing relates the product with the needs of the customer.
|Parameter of Comparison||Marketing||Advertising|
|Definition – Meaning||Researching and understanding the needs of the customer which 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 it is done only for a 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 trend for the new or the 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 requirement. 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. The data mining involves a whole lot in the process and probable solutions are mapped according to the place and price.
Marketing is indeed a long-term business process which tends to understand the market all the time. In fact it is not only about promotion; it is all about identify and supply the required product to the customers.
Marketing involves 6 P’s, they are Price, Promotion, Place, People, Product and Process. Marketing closely focusses on improving sales numbers.
The major aspect of marketing is building reputation among the customers. Effective brand management happens through identifying the right needs to be supplied with the right product with the right price.
Marketing strategies decide the price of a product and the ways to distribute the product too. This offers a great role in building a relationship with the people and the company.
What is Advertising?
Advertising is a marketing strategy to create awareness among the people about a product or a service. It is an out and out promotional tactic involved to make the 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 an information passed to the people in a creative way about the brand and the product.
Advertising is a one-way communication which intend to inform the customers about a certain 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 in Televisions, Radios and News papers are Non personal, whereas promotions through social media platform which involves cookies’ support is considered personal.
Based on the advertising media, advertising is categorized as Print advertising; Magazines, Newspaper, brochure etc, Broadcast advertising; Television and Radio, Outdoor advertising; Banners, Flags, Digital advertising; Over 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 additionally helps build brand and also change customer’s attitude towards buying a product.
Main Differences Between Marketing and Advertising
- Marketing is a systematic process 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, 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.
Advertising is a prime part of marketing. Marketing strategies involves efforts to build relationships. One tool among the strategies is advertising. The creation of interest on the product solely among the target audience lies on advertising.
However, marketing is the one which identifies the target audience. Building brand is the need of the hour for the organizations. Marketing is an umbrella of several activities which is primarily aimed at learning the customers to improve sales.
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The following is a collection of the most used terms in this article on Marketing and Advertising. This should help in recalling related terms as used in this article at a later stage for you.