Define marketing and advertising

Marketing

Marketing is the process of identifying, anticipating and satisfying customer needs profitably through product development, pricing, promotion and distribution. As Philip Kotler puts it, it is a social and managerial process by which individuals and groups obtain what they need and want by creating and exchanging value with others. Example: A telecom company studies customers' data needs and launches new data packs with suitable prices and channels.

Advertising

Advertising is a paid, non-personal form of communication about a product, service or idea through mass media such as television, radio, newspapers, hoardings and the internet, by an identified sponsor, with the aim of informing and persuading the audience to buy. Example: Nepal Telecom's Facebook and TV adverts for new service packs, or Wai Wai noodle advertisements.

Key differences: marketing is broad and covers all activities of satisfying the customer, while advertising is only one tool within the promotion part of marketing.