In a recent marketing lecture, I noticed something that is likely a place of confusion for entrepreneurs in need of professional help with their respective businesses. As the lecturer opened it up for questions, the terms Marketing, Branding, P R, Business Development, and Sales were used almost interchangeably. The Business Development guy that I am, I wanted to chime in, going into detail on the differences between the terms but, it’s just not cool to hijack someone else’s presentation. So, here we are!
This blog post is to serve as a quick reference guide for you; especially those entrepreneurs who can benefit from clarity on exactly what specialized assistance it is that you may need. So, let’s get busy sorting apples from oranges as I do my best Merriam Webster’s impersonation. Following will be the denotation of each term (blue box), then a brief explanation.
MARKETING
The action or business of promoting products and/ or services.
How you make your ideal customer aware of the value and benefit your product represents to them. Example: advertising, SEO, blogs & publications, events, networking, etc.
BRANDING
The promotion of a product or company via distinctive design.
The visuals you use to distinguish yourself in the marketplace. Example: logo, web design, cards, letterhead, etc.
PUBLIC RELATIONS
The professional maintenance of a favorable public image.
Everything you do & say will impact your bottom line. Example: press & media management, talking points, etc.
BUSINESS DEVELOPMENT
The activity of pursuing strategic opportunities for a particular business or organization.
Before a sale can be made, the right relationships for the right opportunity need to be established; especially where Business To Business (B2B) sales is the objective. Example: ideal opportunity targeting, lead identification & qualification, relationship management, etc.
SALES
The offering of a product and/ or service in exchange for money or other compensation.
The ladies & gents who leverage existing or purchased leads to pitch potential customers on why they should purchase your product/ service. Example: account managers, telemarketers, etc.
Fin.
Should you want further explanation on an above term, or just want to make a comment, do so below. Later