James, who has just graduated from university, had the idea for the business when a friend complained that he couldn't meet women through existing dating apps and online services."Marco couldn't work out why people weren't responding so we decided to help him out," he explains.Marketing: 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.After reading both of the definitions it is easy to understand how the difference can be confusing to the point that people think of them as one-in-the-same. Advertising is a single component of the marketing process.
"We create a new Facebook page for each user, and have a specific methodology to target the ads from that page, so that you're not wasting leads on your relatives." The potential for Lovebook is vast, claims James.
"It's not for everyone, but we think it's a really efficient way of finding dates online," he says.
The Big Short, the film adaptation of Michael Lewis' book of the same name about the causes of the financial crisis, opens in UK cinemas this weekend.
Knowing the difference and doing your market research can put your company on the path to substantial growth.
Let's start off by reviewing the formal definitions of each and then go into a deeper explanation of how marketing and advertising differ from one another: Advertising: 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.