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Every industry has existing stereotypes and misconceptions conjured by the majority of people. It’s primarily due to traditional perceptions about different fields that have become “common knowledge” over time. As the world continuously progresses, we transcend beyond these stereotypes, and still, we work to debunk these myths.
The marketing field is not foreign to stereotypes as there are countless about this particular industry. We will highlight 5 of the most common marketing myths and take them down with facts. Find out if you’ve heard of them and were right not to fall for it!
ADVERTISING AND MARKETING ARE THE SAME THINGS
Advertising and Marketing have been used interchangeably sometimes as most people refer to them as both the promotion of products and services. Both fields work side by side, and that’s probably how most people confuse Marketing and Advertising for one another. But the truth is: they are two different things!
According to the American Marketing Association, Marketing is the process of understanding how to meet the customer needs effectively and is focused on establishing a market for the product or service. On the other hand, Advertising promotes businesses and their products and services through paid media and works mainly on how to best garner attention for the product or service. Hence, advertising is not the same as marketing but rather a part of it.
MARKETING HAS NOTHING TO DO WITH CREATIVITY
Marketing is a combination of art and science. It’s all about being creative and strategic at the same time. Marketing is about creating messages that resonate with the intended audience and make you money.
With the right message at the right time, customers will buy your product or service without even knowing you have a product or service. In other words, marketing can create demand for its products and services! That’s what companies like Apple do. They create demand for their products in ways that don’t involve selling them directly to consumers!
SALES TALK IS THE ESSENCE OF MARKETING
The first thing that comes to people’s minds when they hear of Marketing is that it’s all about sales talking–it is not. People often define marketing as persuading customers into buying products and customers, but that is the Sales talking.
Sales and Marketing are two distinct areas of business. Marketing focuses on increasing brand recognition, whereas Sales converts that awareness into revenue by converting potential customers into actual customers. They are different business functions that work closely together to achieve the business’ goals to increase both customers and profit.
MARKETING IS SIMPLE AND EASY TO DO
Marketing newbies think that marketing is an easy task and process. Some people believe that all you have to do is create publication material and post updates on your social media is enough for a marketing strategy. Research and planning? Who is she?.
In reality, it is nowhere near easy.
If you want to see your marketing efforts pay off, you’ll need to invest a lot of money, work, and perseverance. And, no matter how much you try to prevent it, it will cost you money. It’s tempting to use less expensive marketing strategies to expand your business, but success is never free.
Excellent content marketing necessitates a degree of dedication that only a few individuals are prepared to make. The game-changer in this equation is the outcome. Quality is more important than quantity, and creative marketing regularly produces results. You may save money and effort by not marketing, but your audience will suffer, and you will eventually pay for your savings through reduced sales.
QUALITY PRODUCTS AND SERVICES WILL SELL THEMSELVES SO SMALL BUSINESSES SHOULDN’T WASTE RESOURCES ON MARKETING
Wrapping Up
Actually, they don’t. Small businesses don’t have nearly as much time, or as big of a marketing budget, as large companies do. This does not mean that marketing is a waste of time or money. Marketing for small businesses must be rolled out wisely and requires more thought and planning to use your marketing budget better.
According to the Philippine Statistics Authority, a total of 957,620 businesses are operating in the whole country, and 99.51% of them are medium, small, and micro-enterprises while only 0.49% are large enterprises. That confirms that there is far more competition occurring within the country. For your business to grow and stand out in the market, one of the top things you should be investing and paying attention to is your marketing.
Suppose you still think advertising is a waste and great products and services sell themselves independently, then why do huge corporations like Apple and Disney still market themselves excessively?
Want to know how you can further upgrade your Marketing knowledge and strategies? Connect with us at Verafede Inc. to learn more!
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Heads Up, Start-Ups! Marketing Tips for Start-Up Businesses in 2021
Patricia Jonson
Patricia Jonson is a 4th year De La Salle University-Dasmariñas student taking up a Bachelor of Science in Business Administration Major in Marketing Management. She is a marketing intern at Verafede Inc., working alongside the marketing team and social media team. Her interests lie greatly in the creative aspects of marketing and how visuals and other strategic executions highly impact the dynamics of advertising.