What do these terms mean?
In a recent MBA course I taught at Neumont University on marketing I had to define these terms. While there are myriads of technical definitions; here's what we came up with to capture the main point.
Marketing: the alignment of a need with a solution to everyone's benefit.
Advertising: publicizing the fact
Thus, marketing must understand who has a problem to be solved and then figure out how to make the exchange of benefits profitable to both parties.
On a side note, Neumont is interesting in that it focuses on two-year Bachelor's degree in Computer Science -- that's it. Students attend college full time, work on industry-sponsored projects, and graduate with 100% placement and above average salary. The founders (and venture capitalist backers) designed the program for what enterprises need in software developers.
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