Myth 1:- I have a logo; therefore, I have a brand
Fact: Logos are one component of a company brand identity, but your brand image is far more complex. The brand is the perception the world has for you. It communicates your personality and the promises which you do to deliver the value to your customers. The logo is a sign of trust, commitment, and identity of your firm. Make sure the logo should be is consistent across all of your social media sites and marketing activities.
Myth 2:- Marketing is Advertising
Fact:- This is the most common myth among people; in particular in the marketing department is supposed to advertise and promote the product all the time. In my view, marketing is educating your target customer about your product or service, create differentiation, and positioned them in such a way that demand would increase eventually. Advertising is just a part of all this ecosystem; nevertheless, it is one of the essential elements.
There are so many examples of this goof-up where companies did only advertising on the name of marketing and lost the game. Askmebazar.com is an example where they invest millions in running advertising products without strengthening the product and its distribution.
Myth 3:- Lower prices encourage more people to buy
Fact: If that were always true, no one would buy BMW verses a Maruti. Buyers have their idea of what is valuable to them, and many believe that “you get what you pay for.” That is why it is so important to target your product or service correctly so that you can provide the maximum value at the right price. Decreasing the cost of any product without planning can even kill that product and its importance to the customer.
The Conclusion:-
Marketing is about creating visibility for your business by educating your prospects, customers, products, and services, and provide the solution with a cost. Everything you do to accomplish this for your company is a marketing activity. Marketing is truly an investment in time, creativity, resources, and energy. The more you can invest, the higher the business success you will have.
I remember studying marketing when college days, your article summerise integrated marketing in one place, and infographics are impressive.
Amazing insight about the Myth ..which have clear the clutter from my mind Thanks