Successful businesses in every industry engage in marketing and advertising to sell products and services. When it comes to generating profits, a business must offer quality goods and services that are readily available for purchase. Marketing and advertising are vital methods for specifically targeting consumers. Although these two methods both lead to sales, they are different.
What Is Marketing?
Consumers shop in a variety of places. Several factors influence where consumers shop and which items they purchase, so businesses must know which consumers to target and how to reach them. This is where marketing comes in.
“Marketing,” as defined by the American Marketing Association, “is 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.” Whether a company has its own marketing department or uses a separate marketing firm, it needs to be successful in reaching the right consumers.
Types of Marketing
Different types of businesses benefit from different types of marketing methods. The products or services offered by a business, along with its targeted consumer demographic, determine which types of marketing will be most profitable. Here are two popular types of marketing.
Outbound marketing refers to the process of sending out information about a product or service. The goal is to capture the consumer’s attention. Examples of outbound marketing include email blasts, trade show displays and advertising. Outbound marketing can be directed toward other businesses (B2B marketing) or consumers (B2C marketing).
Rather than sending out information, inbound marketing attracts consumers by drawing them in through the means of their own personal interests. Examples of inbound marketing include utilizing search engine optimization (SEO) to discover what consumers are searching for online and how a business’s products and services can be more easily discovered. Other examples are social media and blogs. Inbound marketing is beneficial for businesses requiring both B2B and B2C marketing.
What Is Advertising?
Today, businesses advertise everywhere. There are billboards, television commercials, radio ads and more. It’s nearly impossible to ignore advertising.
According to Inc., advertising creates the exposure needed to sell a company’s products or services. The goal for advertising is to capture the attention of audiences in a way that leads to purchases.
Types of Advertising
While there are several ways to advertise, it is important that businesses identify and utilize the right methods to attract the appropriate consumers. Investing in the production of advertisements is only beneficial if the right audience sees or hears the ads. The following are a few of the most common types of advertising.
Due to the increasing amount of time adults spend online every day, online advertising can target nearly every consumer. Promotional videos, informative images and direct links to business websites are all used as part of these advertisements. Market research shows which consumers are more likely to visit certain websites and social media platforms, allowing businesses to easily determine which sites will draw more success for their advertisements.
Print advertising consists of visual images displaying information regarding a product or service. These are typically published in magazines and newspapers. Billboards are also print advertisements. Businesses find more success with this method when advertising in publications that offer content related to the advertised products and services. For example, a clothing company is likely to benefit more from advertising its products in a fashion magazine rather than a cooking magazine.
Broadcast advertising can be in a visual or audio format for TV or radio. Like other methods of advertising, businesses use market research to determine which television and radio stations attract their targeted consumer audience.
Marketing vs. Advertising
It’s clear that marketing and advertising are two different business tools made to be utilized together. Marketing is a strategy used to introduce products and services to consumers, and advertising is part of the strategy.
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