The continued evolution of technology and the growing influence of digital online marketing sometimes blurs the line between marketing and advertising. While advertising and marketing have many similarities, there are key differences between the two.
What is Marketing?
Marketing helps you identify what customers want now, what they will want, and how to meet those needs. The best marketing strategies pinpoint ways of serving different customer bases while maximizing profits. Business-to-business (B2B) marketing focuses on other businesses, while business-to-consumer (B2C) puts the emphasis on consumers.
The marketing process includes designing different campaigns and coming up with creative tactics to appeal to a potential customer. There’s also a lot of research and parsing of data to align products or services to a target audience. It defines the product and how it solves a specific problem.
Keys to Effective Marketing
Effective marketing involves doing intense research into how audiences respond to distinct elements of a campaign. That includes everything from the colors used in a logo to the images used in a digital ad. You must come up with a language and design that exerts the most influence over an audience.
The 4 Ps of Marketing
The following marketing components, often called the marketing mix, help companies identify key factors about their business.
- Product — Outlines the products or services a business provides to customers that fill an existing demand.
- Price — What customers will pay for a product. Marketers must tie the actual value of the product or service to the perceived value by their audience.
- Place — How companies decide where to sell a product to get the most profit. That includes store displays, placements in movies, or selling through online web outlets.
- Promotion — Defines the efforts put into promoting a product and letting customers know why it’s needed and why the product or services are worth the price.
What is Advertising?
Advertising involves promoting a business’s services and products through different paid channels to a target audience. Companies rely on advertising to establish their brand and increase sales. The most effective advertising campaigns are timely and positioned to meet specific business goals using the following methods:
- Traditional print and broadcast media
- Retail store ads
- Online advertising
- Mobile advertising (ads targeted at mobile users)
- Outdoor advertising (billboards, banners, buildings, vehicles, etc.)
- Pay-Per-Click (PPC) (ads that drive clicks to websites)
Keys to Effective Advertising
The best advertising educates the audience about the benefits of a product or service and why they are superior to a competitor. Good advertising leaves customers feeling they must have the product to solve a problem or handle a specific need. Great advertising campaigns mix different media to generate a lot of excitement around products.
One example of a company who consistently delivers timely, exciting advertising is Twix. Some of their most innovative campaign ideas include pitting various forms of the candy bar against each other, sometimes within the same package (left Twix vs. right Twix, anyone)? They also have active social media channels. Twix recently launched a campaign tying their new Cookies & Crème bars to a pair of stylish sneakers, a way of appealing to a younger demographic.
How Marketing and Advertising Complement Each Other
Advertising is a sub-element of the Promotion part of the marketing mix we highlighted earlier. Marketing focuses on getting products ready for the marketplace. Advertising is the step where companies communicate what the brand stands for based on the research done during the marketing phase.
- Marketing focuses on researching what audiences like and how best to position a brand in the marketplace
- Advertising uses the data from marketing to showcase products and services in a way that appeal to audiences
- Both are essential components to generating revenue and defining the perception of a brand to customers
While advertising and marketing are similar, we hope you can be able to highlight the differences easier after reading through this blog. Both are an integral part of a successful business.
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