Understanding the fundamentals of advertising and marketing
People often get advertising and marketing confused.
The fact is that there is a huge difference between the two terms.
Marketing is the process by which products and services are introduced to the marketplace. Whereas, advertising is the description or presentation of a product, idea, or organization, in order to induce individuals to buy, support, or approve of it. Marketing is the sum of all activities that you perform to get the word out about your business and attract the customers you want. Advertising is essentially spreading the word about what your company has to offer. Advertising is a component, or subset, of marketing.
Marketing takes time. It involves understanding who your potential customers are and what they want to get from your product or service. Think of marketing as everything that an organization does to facilitate an exchange between company and consumer. An effective marketing strategy involves use of color, logos, and how your products and services are sold. A marketing strategy creates the perception that you want people to have of your business. Is your company forward thinking, a fun company or a large stable business? It’s marketing that defines your brand and attracts the market share you want.
Advertising is getting the word out about your business, your products and services. It can involve several strategies including newspaper, radio and television ads. On the internet it can include banner ads, posting classifieds, etc.
To market your product or service, fundamentally you must:
– Study your target audience
– Identify their values and needs
If you’re trying to appeal to a quality-conscious demographic, you’d probably want to develop a campaign that showcases your brand as being high end. If you’re reaching out to a younger or more forward-demographic, develop an edgier approach to present the image of your product.
Once 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. Print, television, radio and the Internet are common venues that can communicate your brand to potential customers. Social media is also a powerful component of marketing, branding, as well as advertising efforts; proper use of Twitter, Facebook and Google+ (and others) can help spread the word about what it is you have to offer.
In the end, marketing and advertising campaigns are most effective when they are fully integrated.