It is easy and also very common for the average person to interchange the terms marketing, advertising, and branding in a way that isn’t technically correct. However, when a young entrepreneur, inventor, or businessman makes the mistake it is a glaring technicality that often causes professionals to question the person’s credibility. Mixing up the terms marketing and advertising or even branding can make investors hesitant and give partners a reason to question your strategies.
Let’s take a closer look at marketing, advertising, and branding so that they are better defined and used in the proper places at the proper times.
Marketing is the message that your business conveys to others. Kind of like what you choose to wear when you go to the grocery store. Pajamas usually mean you’re a slob. Marketing is the way that you control how others perceive your company. You control your marketing by ensuring good first impressions and a solid strategy in the way that you convey what values your company represents. Marketing is the first interaction people will have with your company so it is important that your marketing strategy is developed appropriately so that people are left with a stellar first impression. When you explain your company to consumers, stakeholders, business partners you are describing the best qualities of your business and this is called marketing. How you choose to handle marketing is key to explaining your company efficiently and getting people to believe in your business.
Advertising is the message that consumers receive again and again but it is more static and less informative then marketing. Once you launch an advertising campaign it is hard to change it right away so you have to hit the nail on the head immediately with your advertising strategies. The wrong advertising campaign can be detrimental to your company and people will not be as responsive as you would wish them to be. Of course, you can alter your advertising strategies but remember that a bad advertising campaign will sequentially undermine your marketing strategy so it is the best game plan to get your advertisements dead on.
Branding is essentially the feedback you receive from others that shapes the way people view your company. You can guide your branding by using effective advertising and marketing strategies but it is still going to be created by the people that interact with your business and give their opinion. Branding comes from good reviews, a consumer’s willingness to pay a premium for your product, and the general goodwill that is associated with your company’s values and services. All of these things become incorporated into your business’s brand. I recommend that you take the time to study the important differences between marketing, advertising, and branding and make sure that you understand them completely so that you can sound more professional in important settings and receive professional results.