WHAT ARE THE SIMILARITIES BETWEEN MARKETING AND ADVERTISEMENT?
Marketing and Advertisement are often used interchangeably. People argue that they are the same thing. There are numerous similarities between them. Though there are differences as well, this article focuses mainly on what makes them so similar to each other.
WHAT IS MARKETING?
Marketing simply means letting others know about your business or brand. Creating awareness about your product or service for the main purpose of boosting sales. It enhances potential customers to boost sales.
It involves;
Thorough research
Consumer analysis and Market survey
Strategy implementation
Product development
Strategy planning
Implementation
Service review
Brands create ways to perform thorough research on the consumers and exactly what product or service is needed in the market. Most of them locate a problem and begin to formula the perfect ways to address it.
Consumer analysis and Market survey includes the careful study of customers and their response to such goods or services. Not only do they address these problems with likely solutions, they go ahead to understand how people will best accept and rely on them.
When they have arrived at a perfect mix, they then polish and brandish their strategy. They further enhance their strategy to make it work better. They implement such strategy to achieve results.
After that, they produce the best product that not only suits the needs of people but can also be easily accepted and consumed by them. This part might be the hardest because a lot trial and error come in place.
Strategy planning occurs when such strategy is being tested on the public, how the public reacts to it helps these brands understand where and when to upgrade and to whom to sell their products or services to.
When they are finally done, they then implement all strategy and every result gotten into the business. After this, they present their product for consumption.
A good brand ownership encourages the need for review from clients or the public at large to enable them understand better how individuals think concerning their product. By doing this, they stay ahead of the game, can change formula or packaging depending on the reaction of people and change in time and trends.
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