Marketing and advertising are two terms that are closely related, but have important differences. Marketing refers to the strategies and techniques that are used to promote and sell products or services. The goal of marketing is to identify the needs and desires of consumers and develop strategies to meet them profitably for the company.
Advertising, on the other hand, is one of the tools used within marketing. It is a form of commercial communication that aims to persuade consumers to purchase a product or service. Advertising is done through different media, such as television, radio, written press, digital media, among others.
Other marketing tools that are not advertising include market research, market segmentation, pricing strategy, sales promotion, brand management, among others.
In short, advertising is one of the tools used in marketing to promote and sell products or services, but it is not the only one. Marketing is a broader discipline that includes many other tools and techniques that are used to achieve a company’s business goals.
Identification of needs
The identification of needs is a process that is carried out in the field of marketing and aims to discover the needs and desires of consumers in order to develop products or services that meet those needs in a profitable way for the company.
The identification of needs can be carried out through different methods, such as market research, surveys, focus groups, consumer observation, among others.
Market research is a very useful tool to identify the needs and desires of consumers. It can be carried out through surveys, interviews, data analysis, among other methods. In the market research, different variables are analyzed, such as age, gender, income, geographical location, lifestyle, among others, in order to identify consumption patterns and consumer needs.
Focus groups are another useful method for identifying needs. These groups bring together consumers with similar characteristics to discuss their needs, desires and buying behaviors. Researchers can observe and analyze discussions to identify consumption patterns and common needs.
Direct observation of consumers is also a useful tool for identifying needs. Researchers can observe consumer behavior in different situations, such as in a store or restaurant, to identify consumption patterns and needs.
Identifying needs is a key process in marketing that enables businesses to develop products and services that meet consumer needs cost-effectively. It can be carried out through different methods, such as market research, focus groups and direct observation of consumers.
Consumer desire
Consumer desire is a key element in the purchase process and in consumer decision-making. Desire refers to a psychological need that drives consumers to seek a product or service that meets that need.
Desires can be influenced by different factors, such as culture, lifestyle, previous experiences, advertising, among others. Consumers may have explicit or implicit desires, and these may be conscious or unconscious.
Advertising is a key tool for influencing consumer desires. Advertisements seek to create a need or desire in the consumer, showing how the product or service can satisfy that need or desire. Advertising can also create a positive brand image and create an emotional connection with consumers, which can increase their desire for the product or service.
Consumers may also have implicit desires that they are not aware of. For example, they may have the need to feel part of a social group or to have a certain status. These desires may influence your choice of products and services.
Consumer desire is a key element in the purchase process and is influenced by different factors, such as culture, lifestyle, previous experiences, advertising, among others. Advertising is an important tool for influencing consumer desires, but there can also be implicit desires that are not conscious. Understanding consumer desires is important for developing effective marketing strategies.
Strategy development
The development of marketing strategies is a key process for companies looking to achieve their business objectives and meet the needs and desires of consumers profitably. The strategy development process may include the following steps:
Analysis of the situation: The first step in the development of strategies is to perform an analysis of the situation of the company and the market in which it operates. This may include a SWOT (Strengths, Opportunities, Weaknesses and Threats) analysis, a competitor analysis, a consumer analysis and an environment analysis.
Definition of objectives: The next step is to define the objectives of the company. These can include financial goals, sales targets, market share goals, among others.
Target market selection: Once the situation and objectives of the company have been analyzed, it is important to select the target market. This involves identifying the most attractive and profitable market segments for the company and developing specific strategies to reach them.
Development of the marketing strategy: Once the target market is selected, an effective marketing strategy must be developed. This involves selecting the most appropriate marketing tools, such as advertising, sales promotion, public relations, digital marketing, among others, and developing an action plan to implement them.
Implementation and follow-up: Once the marketing strategy has been developed, it is important to implement it and follow up to evaluate its effectiveness. This can include tracking sales, measuring customer satisfaction, and evaluating profitability.
The development of marketing strategies is a key process for companies looking to achieve their business objectives and meet the needs and desires of consumers profitably. This involves conducting a situation analysis, defining objectives, selecting the target market, developing the marketing strategy and following up to evaluate its effectiveness.
Advertising media
There are different advertising media that companies can use to reach their target audience and promote their products or services. Here are some of the most common advertising media:
Television: Television is a means of mass advertising that allows reaching a wide and diverse audience. TV ads can be very effective in building a brand and increasing product visibility.
Radio: Radio advertising is a very effective means of reaching a local or regional audience. Radio ads can be cheaper than TV ads and allow you to reach an audience that is on the move, such as car drivers.
Print media: Advertising in newspapers and magazines can be very effective in reaching a more specific audience, such as those interested in specific topics. The print media can also be an effective means of reaching local audiences.
Online advertising: Online advertising, such as search engine ads, social media ads, website ads, among others, has become increasingly popular due to its effectiveness and ability to reach specific and personalized audiences.
Outdoor advertising: Outdoor advertising, such as posters and billboards, can be effective in creating a presence in the consumer’s mind and increasing brand visibility.
Direct marketing: Direct marketing, such as direct mail, telemarketing, and email, can be effective in building customer relationships and promoting specific products.
There are different advertising media that companies can use to reach their target audience and promote their products or services. The choice of the right medium will depend on the target audience, budget and objectives of the advertising campaign.
Market research
Market research is an important process that companies use to collect and analyze information about their market and their target audience. It’s may include the following steps:
Problem definition: The first step in market research is to define the problem you want to investigate. This can include identifying consumer needs, evaluating the effectiveness of an advertising campaign, measuring brand awareness, among others.
Research design: Once the problem is defined, the research must be designed. This involves determining the type of research to be carried out (qualitative or quantitative), the sample that will be used, the method of data collection (surveys, interviews, focus groups, among others), among others.
Data collection: Once the research is designed, the necessary data must be collected. This may involve conducting surveys, interviews, focus groups, or secondary data analysis.
Data analysis: Once the data is collected, it must be analyzed to obtain relevant information. This may include the use of statistics, qualitative analysis techniques, among others.
Elaboration of conclusions and recommendations: Finally, conclusions and recommendations should be drawn based on the research carried out. Conclusions and recommendations may include adjustments in marketing strategy, improvements in the product or service, among others.
Market research is important for businesses because it allows them to get to know their customers and their market better, which can help them make better marketing decisions and improve the effectiveness of their advertising campaigns. In short, market research is an important process that companies use to collect and analyze information about their market and target audience, and it can help them make better marketing decisions.
Market segmentation
Market segmentation is the process of dividing a broad market into smaller, homogeneous groups of consumers who have similar needs and characteristics. This allows companies to develop more effective and personalized marketing strategies for each group.
Market segmentation can be based on different criteria such as demographics, behavior, psychographics, and geography. Here are some examples of each criterion:
Demographic: Demographic segmentation is based on characteristics such as age, gender, education, income, occupation, and marital status. For example, a company can segment the market by age and design different marketing strategies for youth and adults.
Behavior: Behavioral targeting is based on consumer behavior, such as purchase frequency, brand loyalty, product usage, and price sensitivity. For example, a company may segment the market by purchase frequency and offer special promotions for frequent customers.
Psychographic: Psychographic segmentation is based on characteristics such as consumers’ personality, values, interests, and lifestyle. For example, a company can segment the market by values and offer products and services that align with the values of its consumers.
Geographic: Geo-targeting is based on consumers’ geographic location, such as city, state, or country. For example, a company can segment the market by region and offer products and services that are relevant to each region.
Market segmentation can help companies better understand their target audience and design more effective and personalized marketing strategies for each group. This can help improve the effectiveness of advertising campaigns, increase sales and build customer loyalty.
Pricing strategy
The pricing strategy is a key part of the marketing mix that involves selecting the right price for a product or service. An effective pricing strategy can help companies achieve their sales, profit, and market share goals. Below are some common pricing strategies:
Penetration pricing: The penetration pricing strategy involves setting a low price for a new product or service with the goal of attracting a large number of customers and gaining market share quickly.
Premium pricing: The premium pricing strategy involves setting a high price for a product or service of high quality or prestige. This strategy is common in luxury products and in industries such as fashion and technology.
Discount pricing: The discount pricing strategy involves offering a temporarily reduced price for a product or service with the goal of attracting customers looking for an offer.
Competition-based pricing: The competition-based pricing strategy involves setting the price of a product or service based on competitors’ prices.
Psychological: The psychological pricing strategy involves setting prices that are perceived as more attractive to consumers. For example, set a price at $9.99 instead of $10.00.
Dynamic Pricing: The dynamic pricing strategy involves adjusting prices according to demand and supply. For example, a travel company may increase prices during the high season and reduce them during the off-season.
It is important that companies choose a pricing strategy that is consistent with their market positioning and business objectives. In addition, it is important that prices are profitable and in line with the quality and perceived value of the product or service.
Sales promotion
Sales promotion is a tool in the communication mix that uses temporary incentives to stimulate the purchase of a product or service. It’s can include a variety of tactics, such as discounts, coupons, contests, free samples, cashback offers, and package promotions. Below are some of the most common sales promotion tactics:
Discounts: Discounts are reductions in the price of a product or service. Discounts can be cash or percentage.
Coupons: Coupons are documents that offer discounts on the price of a product or service. Coupons can be delivered to stores, included in product packages or mailed.
Contests: Contests offer the opportunity to win prizes to consumers who participate. Contests may require consumers to submit a creative response or perform a task.
Free samples: Free samples are a way for consumers to try a product or service before buying it. Samples can be delivered to stores or by mail.
Cashback offers: Refund offers offer partial or full refunds for the purchase of a product or service. Refund offers may require consumers to complete and submit a request form.
Package promotions: Package promotions offer several products or services together at a reduced price.
It’s can be an effective way to increase sales in the short term and foster customer loyalty. However, it is important for companies to carefully evaluate the costs and benefits of each promotion tactic and ensure that promotion is aligned with their overall marketing strategy.
Brand Management
Brand management is an ongoing process that involves the development and protection of a brand. A trademark is a name, term, design, symbol or any other characteristic that is used to identify and distinguish a company’s products or services from those of its competitors. Brand management involves a number of activities that help establish and maintain brand image and reputation. Below are some of the key activities of brand management:
Brand positioning: Brand positioning is the place that the brand occupies in the minds of consumers. The goal of brand positioning is to establish a clear and distinctive image of the brand in the mind of the consumer.
Brand development: Branding involves the creation of a distinctive and coherent brand identity. This includes selecting a brand name, logo design, color palette, and communication style.
Brand maintenance: Brand maintenance involves ensuring that the brand remains consistent in all marketing activities of the company. This includes consistent use of branding in advertising, packaging, website, social media and other marketing activities.
Brand protection: Brand protection involves taking steps to protect the brand from infringement and unauthorized use. This may include registering the trademark with the appropriate intellectual property offices and taking legal action against infringers.
Brand extension: Brand extension involves the use of the trademark in new categories of goods or services. This can help leverage the positive image and reputation of the existing brand to drive growth in new areas.
Brand management is essential to establishing and maintaining a competitive advantage in the market. By developing an effective brand management strategy, companies can improve customer loyalty and engagement, increase sales and market share, and protect the brand from competition.
