As the technologies are evolving daily and increasing their importance in our daily lives, the business houses are trying their best to employ diverse marketing and advertising strategies to reach their potential customers. We can see Marketing and advertising everywhere. Traditional media to digital media, including social media platforms, advertising, and marketing, expand their horizon to reach the targeted audience. You must agree that with the help of effective marketing and advertising strategies,
businesses are growing at a successful rate.
Sometimes these two terms (advertising and marketing) are considered synonyms and used interchangeably, but they are quite different. In simple language, we refer to marketing to identify customer needs and work hard to fulfill those needs. At the same time, advertising is an exercise for promoting its product through the best advertising platform.
Marketing
Marketing is a practice done by business houses that involve predicting, identifying and meeting customer needs. An effective marketing strategy can help the business to serve its client base and maximize revenue. In B2C (business to consumer) marketing, you should direct your efforts towards your consumer base. In contrast, in the case of B2B (business to business), you should direct all your efforts towards other companies.
Throughout the 20th century, traditional marketing is entirely dependent on four different channels, as print media, telegrams, television, telephones. Top business houses engage with any of them to deliver the corporate message and enhance brand efforts.
However, in the 21st-century, marketing strategy evolved to account for the rise of e-commerce. With the transition of life and commerce online, digital marketing transformed business communication with their clients.
The following type of marketing is working out in the present scenario.
Digital marketing
Digital marketing refers to applying marketing techniques to electronic communication devices such as phones, computers, and laptops. Digital marketing strategy often leverages search engines, emails, blogs, websites, etc. to reach customers.
Product-based marketing
Product–based marketing strategies mainly focus on a company’s product rather than any particular consumer base. Companies like Staples & Sears, for instance, primarily use a mass marketing strategy, assuming that a large number of customers are looking for specific products or product categories.
Social media marketing
This marketing strategy uses social platforms to reach potential clients. Social media marketing allows companies to take benefit of earned media from individuals outside of their business organization.
Global marketing
Global marketing enables business houses to employ a uniform strategy to reach their potential customer base at national, international, regional, and local levels at the same time.
Relationship marketing
Relationship marketing avoids using invasive strategies such as commercial ads and other marketing techniques and relies on customer happiness. Relying on relationship marketing strategies can help retain and satisfy customers; relationship marketing strives to establish a long-time and loyal client base.
Brand-based marketing
Brand-based marketing promotes your products or services in such a way that it highlights your overall brand. The main objective of brand marketing is to communicate your business to your potential customer base. Brand marketing is not only confined to placing your logo and business name in as many places as possible and expecting an increase in sales revenue. Sometimes, the importance of brand marketing gets overlooked, as it takes time. Many marketing departments focus on short-term goals rather than nurturing long-term goals that impact the entire business, like building a brand.
Advertising
It is the business practice in which the company pays to place its message or promote their brands. Businesses advertise to promote their products or services to boost their sales and establish a well corporate culture. It is a one-way channel of communication where business organizations broadcast a non-personal message to the general public.
Here are some of the common advantages of advertisement.
Educate the customers on the nature of products or services
Improve customer perception of brand or culture
Exhibit new applications for products or services
Attract new customers to buy products or services offered by your business.
Generate customer need or want for your product or service.
Publicize products or services to potential customers
Retain the existing customer base
Convince customers that products or services are better.
As marketing, advertising also has evolved significantly at the same time. The digital era has opened new advertising avenues for companies to benefit from social media to search engines and websites of all shapes and sizes. In this new reality, businesses can achieve advertising goals and reach potential customers just about anywhere, particularly smartphone prevalence. There are different advertising methods which are followed by different business houses. The following are some methods of advertising used by the companies in the current scenario.
Traditional advertising: It refers to ad placement in some print or broadcast media. The typical example of print or broadcast media is newspaper ads, T.V, etc.
Retail advertising: In retail marketing company uses to put their ads within the retail store to increase their sales. Some of the common examples of retail marketing are ads on shopping carts, placement of the product within the store, and featured product display.
Online advertising: It means to promote the product through the internet, i.e., via social media or other websites. Some common examples of online advertising are contextual ads on the search engine, banners on the sites, videos, etc.
Outdoor advertising: The term outdoor advertising refers to promoting the product in a heavily trafficked area so that the advertisement gets the most of the attention—for example, billboards, banners outside the building, etc.
Pay per click (PPC) advertising: In the PPC ad campaign, the ads are placed on the company’s website or landing pages to attract maximum clicks and conversion numbers.
If you people are confused about Marketing Vs. Advertising, you are not alone. People use both platforms to reach the targeted audience, but they are very different from each other. If you know the difference between these two and do your market research accordingly, it may help you succeed. You should agree that advertising is only a component of the overall marketing process. It is the part of marketing practice that involves directly getting the word out about the business, product, or service to the audience you want to reach most. While marketing is said to be systematic planning, implementation, and controlling the various activities performed to bring the sellers and buyers together to exchange goods or services with money.
You can think of marketing as a cake. In that case, you can divide the whole marketing cake into advertising, market research, public relations, community relations, media planning, customer support, sales strategy, SEO strategy.
All marketing elements should work independently, but they must work together towards a uniform marketing campaign with a standard message for the audience. Marketing is a long time process, including the number of market research hours to perfect marketing strategy; you can consider marketing as everything that a business does to optimize its revenue and establish a good consumer base. Before advertising your product in any format, you should do proper market research to determine your audience. You should use social media platforms to reach your targeted audience. Once you have completed the market research segment, you can start developing marketing strategies and enjoy your business growth.
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