Marketing Vs. Advertising
According to the American Marketing Association, Marketing is defined as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.On the other hand Advertising or advertizing is a form of communication used to encourage or persuade an audience (viewers, readers or listeners; sometimes a specific group of people) to continue or take some new action.This info-graphic explains the complicated meaning of marketing, advertisement and other related concepts. In this simple example you can visualize the difference and relationship between Marketing, Public Relations, Advertising and Branding.
Marketing, Public Relations, Advertising and Branding
(Image courtesy of Neutron, LLC – Appeared in The ADS of WORLD)
Most people begin a business knowing very little about how to actually promote their business. They assume that they would get a flood of customers if people just knew about what they were offering.
So, in order to make sure people knew about your product or service, you excitedly create a small ad to put in the local news paper or other local online deals website or social directory. The problem in this type of untrained and unfocussed effort is that you spend lots of time and resources on things which don’t have a direct impact or as they call technically a positive return of investment.
Yes what you tried doing through this attempt was advertising but if you don’t target your advertisement efforts towards the right audience the result will be disappointing and you will feel frustrated on the loss of your resources which lead to little or no results.
But you can’t stop advertisement either, if you are running a business, every advertisement dollar you spend does have a direct or indirect return. In the words of Henry Ford – “A man who stops advertising to save money is like a man who stops a clock to save time.”
In order to be successful and have a positive return of investment, you need to do Marketing. Running ads is only a small part of a whole marketing process.
Marketing can be thought of as a pie. Inside the pie you have many segments. They do overlap but the advertising part won’t work without a proper marketing system customized for your business needs.
To learn more on how your business can benefit from advertising and marketing to have a significant positive return of investment contact us for a free consultation.
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