Advertising is defined as 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. Whereas, advertising is defined as 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.
To further break it down, advertising is a single component of the marketing process. It’s the part that involves getting the word out concerning your business, product, or the 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, direct mail, billboards, television, radio, and of course the Internet.
The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective.
One of the most effective methods of marketing in the auction industry is placing advertisements. Blackbird Asset Services uses a mix of media to advertise our auctions. Depending on the sale we will likely use a combination of more traditional outlets like newspaper ads (local to national), trade journals, brochures or postcards. We then add the modern components of search engine optimization, banner ads, email marketing and social media. Each component would be defined as advertising, but put together and executed it’s a well-rounded marketing plan. These are all examples of advertising, which is a component of the overall marketing plan.