Effect of Advertisement on Nigeria Economy
Countless people muddle advertising with marketing and the other way around. Actually, both the strategies are uniformly important but have differences too. To put a firm on the fast track of success, one must be well-familiar with the differences between advertising and marketing. The term advertising is a mode to describe or present a product or a service in front of general public, to induce them to buy, acquire or support that product.
Basically, advertising involves three basic elements: a target audience, a message, and a medium through which to send that message. On the other hand, marketing is the strategy to make a product or service available at the marketplace. In other words, it is a movement to bring buyers and sellers together for the jointly profitable exchange or transmit of products. It is an attempt that an organization carries out to accomplish their goals. Those objectives could be selling of products, branding and attracting shareholders to towards the company.
The above two paragraphs make it easy to understand how the differences can be mystifying that some people consider both of them as same. In fact, advertising is a part of marketing process or is only a single component of the marketing process. Advertising facilitates the manufacturers in exposing their product or services to the general public and marketplaces. Advertising includes the process of making strategies like, ad placement in newspapers, yellow pages, television, radio, billboards, and of course the internet, etc.
Advertising is the largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind. One of the most effective way of distinguishing advertising with marketing is to imagine marketing as a pie which consist of numerous slices like, advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy and community involvement. And advertising is only one piece of that pie.
Without any of these slices marketing strategy can work but not effectively. To achieve bigger goals, all the steps must be used in point of fact of publicizing your business and obtaining customers. So, it is quite clear that knowing the differences between advertising and marketing and conducting marketing research can clear the difference between an effective advertising campaign and a campaign that causes a loss. To achieve best results, the manufacturers must gain knowledge of the differences between advertising and marketing.