Marketing and advertising are two similar words and are often used interchangeably. They are definitely related, and one is instrumental to the success of the other. However, they are not one and the same and there is a substantial difference between the two.
As a business owner, it is vital that one should know how these concepts are different as these can significantly affect the long-term success of any company.
In the words of Philip Kotler, “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”.
In simple layman terms, marketing refers to the means of communication between a company and its target audience. At its core, marketing is making the product or service interesting to potential buyers, which is a very involved process. Marketing includes techniques such as market segmentation, target group identification, and market analysis to adopt the right strategy for customer engagement and product promotion.
Four primary elements that form the crux of marketing include Product, Price, Place, and Promotion. They are known as the four P’s of the marketing mix.
Product: A product or service that addresses target or potential consumer needs
Price: The amount that customers pay in exchange for a product or service. The price also determines whether a company will be profitable
Place: How customers access your products or services, e.g., direct selling, franchising, through wholesalers or resellers, exclusive distribution, selective distribution, etc.
Promotion: Communication techniques used by a company to provide information about their products or services, e.g., advertising, public relations, or sales promotion, to its target and potential customer base.
Service-oriented businesses use three additional P’s to complete what is called the seven Ps:
People: The people providing the service
Process: The process standard or blueprint followed by service personnel
Physical evidence: The physical space surrounding a customer when they consume your service, e.g., the interior design of your restaurant or hotel room, the smell of your salon or spa, etc.
According to Philip Kotler, “Advertising is any paid form of non-personal presentation and promotion of goods, services, or ideas by an identified sponsor.”
Advertising can be defined as a form of marketing communication used by companies or business organizations to promote or sell products and services. In essence, advertising is one of the components or subsets of marketing. In simple words, if you think of marketing as an apple pie, then advertising will be an important slice of that same pie.
The primary goal of advertising is to influence buying behavior by promoting the product or service. To achieve this goal, advertising focuses on the creative positioning of their product or services on print, audiovisual, or digital media. In doing so, advertising spreads brand awareness about what the company has to offer.
As mentioned above, marketing presents the overall picture of how a company or business organization promotes, distributes, and prices its products or services. Advertising is a component of that overall picture.
Apart from advertising, a marketing plan of any business organization includes many other components such as public relations, sales, and distribution strategies. All these elements are expected to work both independently and interdependently. All must work together to overall support the same marketing goal.
It is also worth mentioning that creating a marketing plan is generally more time-consuming than creating an advertising campaign. Since marketing involves various disciplines such as market analysis, marketing research, positioning, and segmentation, it includes more strategizing than does advertising.
In today's digital age with the advancement of technology, the thin line that exists between marketing and advertising is getting increasingly blurred day by day. With search engine marketing (SEM) and display advertising, digital marketers are now working in the online ad space. And social networking is turning out to be the most preferred channel for most of these marketers who are pairing advertising with marketing to achieve the best results with the help of various online social media platforms.
BitQuest is a digital marketing agency in Malaysia, with presence in 3 more countries- India, U.S and Australia. With well-qualified and well-coordinated team members BitQuest helps you to find an effective digital marketing solution for your business organization. Visit our official website- www.bitquest.net for more information.