Understanding Marketing Vs.
Advertising
Many business owners get confused over two of the most
common terms used, advertising and marketing.
Essentially, the terms can be simplified with
advertising referring to a particular product or service
for a specified period of time and marketing is
establishing the company's name and reputation. Although
completely different in their theories, no businesses
can survive without having a viable plan for both.
Advertising essentially is charged with having a product
or service and creating a need or a perceived desire of
the consumer to buy it. The advertising message is
| designed to create awareness that the
product exists, how it will be of value to the
consumer or make their lives easier because they
have it and explain why they should buy it
immediately. Many of today's advertisers, even
internet advertisers use the four Ps of
advertising of stating how the product benefits
consumers, giving the price that reflects a
great value for their money, informs the
consumer of all the places they can find the
product and promote the product for repeat or
additional sales. |
Web 2.0 Marketers Call This Their Secret Weapon! |
One of the downfalls of internet marketing has been the
approach of marketing based on the company's objectives
while ignoring the needs of the consumer and not taking
profit into account. Many of the online marketers place
their focus on recruitment of new distributors of a
product or service and have no idea whether or not there
is a need for the product. They also tend to take a
shotgun approach to their marketing efforts, hoping at
least one of several hundred shots will hit the target.
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A pure marketing plan will anticipate the needs of
the consumer and make information about the
product available to the consumer before they
realize they need it and want it. Planting this
seed of desire can also help establish a higher
price of the item and consumers are always
willing to pay a premium price for something
they believe they cannot do without. |
While the principal of supply and demand has long been
used to calculate prices on many products or services,
it does not perform as well on internet service-based
businesses. While supply and demand usually work
together in creating market value, supply can influence
demand causing an upward spiral in prices which can
eventually lead to a lower level of demand.
In recent years, many electronic game companies have
rigidly enforced the quantity of their products being
produced or distributed, all the time using advertising
to promote a perceived need for the product. While
controlling the supply and advertising to increase
demand, the price will drift higher in an open market.
To better define the difference, think about a favorite
fast-food restaurant and if the first thing that comes
to mind is one particular food item they sell, then
advertising has done its job. If the first thing that
comes to mind is the company's logo or a physical trait
of their buildings, then marketing has won the battle. |
