Most of us do not know the difference between marketing and advertising. It seems like it’s two terms used to describe the same thing. The difference can be confusing, indeed. While these two concepts are vital in your business and work interchangeably, they are not the same and their roles are different.
Let’s first look at the definition of these two terms:
Marketing – It is a systematic planning, implementation and control of business activities intended to bring together the seller and the buyer for the mutual exchange or transfer of products.
Advertising – It is a paid, public, non-personal announcement of a persuasive message by an identified sponsor. It is essentially spreading the word about what your company has to offer.
Now, how do we market?
When you market your product or services, you need to have studied your target audience. You need to know what their needs and wants are.
Marketing is based on thinking about the business in terms of customer needs and their satisfaction. It is about meeting the needs and wants of customers.
It is is a business-wide function – not something that operates alone from other business activities. It is about understanding customers and finding ways to provide products or services which customers demand.
And, how do we advertise?
Advertising is a communication of your brand to your target audience. It essentially includes the placement of an advertisement in the media. Print, television, radio and the internet are all venues that can communicate your brand to potential buyers. It requires budget because putting an advertisement in the media need to be paid for.
These two concepts are slices of a bigger pie in your business. They work together towards the bigger goal.