Knowing The Differences Between Marketing And Advertising

Marketing and advertising are equally important components, but they are also very different. Knowing the differences between the two can put your company on the fast track to success.

Let’s start off by reviewing the formal definitions of each:

Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.

Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.

After reading both of the definitions, it is easy to understand how the differences can be confusing to the point that most people think of them as one and the same. So, lets clear up the confusion.

Advertising is but a single component of the marketing process.

Advertising entails publicizing your business, product, or services you are offering. It involves the process of developing strategies such as ad placement, frequency, etc. Advertising includes the placement of an ad in such mediums as newspapers, yellow pages, television, radio, and of course the Internet. Advertising is the single largest expenditure of most marketing campaigns.

The best way to distinguish between advertising and marketing is the pie chart. Mentally visualize breaking the pie chart down into several slices that include advertising, product pricing, distribution, customer service, sales strategy, etc.

Using this method, you can see, advertising only equals one slice of the pie in the marketing strategy. All of these components must not only work independently, but they also must work in unison towards the ultimate goal of publicizing your business and obtaining customers.

Marketing, on the other hand, is simply a process that an organization goes through to facilitate an exchange between buyer and seller.

The main function of marketing and advertising is to promote a product or service to potential customers.

Understanding Home Based Business Marketing

Working from home means that your business is not immediately visible to the outside world. You don’t have a storefront, a warehouse or a prominent office for people to notice. You need to campaign hard to get attention. You’ll have limited facilities and a limited amount of storage capacity for advertising materials. What can you do? Marketing will always play a major role in the success of your home based business hence it will be wise that you use this tool in the most efficient way possible.

Just because your business is based at home doesn’t mean it can’t be connected to the wider trading community. If the product or service you are offering is aimed at the national or international marketplace, you first port of call should be the Internet. For this, you’ll need a company website. If you have good html skills, you may choose to build your own. There’s lots of free advice available online to help with this. Alternatively, you can look up professional web designers and find somebody to build your page for you. Prices for such services vary considerably and the more expensive ones are not always the best, so look at examples of their previous work and make sure you’re getting your money’s worth. Your company website is extremely important. It will be the first part of your business most customers see. It is therefore worth the effort to get it right.

After building your website, you need to make sure that people will see it. You’ll need to register it with search engines and with specialist pages based on subjects related to what your business does. You may also be able to exchange links with companies which work in related areas but are not directly competing with you. Your website may be used just for marketing or it may be used to sell your product or service directly. If this is the case, you may also wish to consider doing business via auction sites. Every individual promotion based on goods or services available through your website, and linking to it, can attract more customers for you.

If your business is locally based, a website can still help to make you look professional, but it is not as much of a priority. In this case, you need to concentrate your advertising campaign in your home area. If you are tragetting other businesses, this may mean making phone calls and paying visits to their premises to talk about what you do. Print up some information leaflets you can hand out. It’s worth using good quality paper for these, even if they’re black and white – paper makes the biggest difference to how people respond to them. You’ll also need business cards, which are more difficult to make at home. Fortunately, there are a number of web based companies from which you can obtain these at a low price.

If you want to advertise your product or service directly to the public, you may consider printing some flyers.These are a cheap and easy marketing solution. There’s no doubt that marketing is a necessary expense and not some luxury which only large businesses afford, but businesses with limited funds should be careful when budgeting their marketing campaigns.