What are Marketing and Sales and how they are different from each other.
Main Factors of Marketing.
- Seller – Who sells the Product in Exchange of Money.
- Buyer – Who Buys the Product in Exchange of Money.
- Consumer – Who Actually Consumes the Products.
- Customer – Who Decide what to buy and Decides what to Buy.
- Market –Place where Buyer and seller meet and Exchange Products and Money.
Marketing requires :-
How is it different from Sales.
The biggest difference between Sales and Marketing is that, Sales, refers to all activities that lead to the selling of goods and services. Whereas, marketing is the process of getting people interested in the goods and services being sold.
The aim of sales and marketing both is to grow the business of the company. Although the approach differs from each other.
In marketing, a creative approach is adopted for brand building which is done by increasing the business of the company.
In sales, a sales professional directly contact the adult toplist customer to close the deal. Here the customer decision is very much influenced by brand-building exercise of that company. Sales and marketing professional have to co-ordinate with each other. A sales professional should follow the guidelines provided by the marketing professionals.
There should not be gap between sales and marketing as both impact to lead generation and revenue. If there is a gap between the two professionals the brand is about to fail. Both Sales and Marketing professional should aware of the products and services.
Think of running a business like driving a car. When you are driving, you have to check your mirrors, change gears and align all sorts of other different actions so that they are all working together. In similar way, Marketing does not equal sales but the two of them do work together.
Here are some basic concepts of Selling and Marketing
Selling: When we talk about selling and the whole focus is on selling the products only.
Factory-Existing Products-Promotions-Selling-Profit Through Sales
Marketing: Marketing is all about Awareness of product and services so people can consider and decide what to buy.
Market-Customer Need-Conversation Communication-Profit through Customer satisfaction
Importance of Marketing helps in
- Business, in growing sales and Operate Successfully.
- In Understanding Consumer Preference’s and Change it.
- In Developing strategies to counter Competition.
Objectives of Marketing
- Provide satisfaction to consumer ( By giving feedback form)
- Increase in Demand ( 30 Min Delivery or its Free)
- Provide Better Quality Products( live tracking)
- Create goodwill for the Organization ( kitchen)
- Generate profitable sales volume ( offers)
Functions of Marketing
1. Market Research: Primary Research- Survey, Focus Groups, Interviews, Observation, Experiments.
Secondary Research- Data and Information Collection
- Size of Market
- Product availability and Pricing
- What do the consumer wants.
- What gap can we fill
Product planning is the process of creating or importing a product idea based on need of Market and following through on it until the product is introduced to market. Comic – Animated Series – Real Movies
Packaging is the technology of enclosing or protecting products for distribution, storage, sale and use.
Standardization refer to development of standards for production of goods with respect of shape, design, color and other Characteristics.
4.1 Grading: Grading involves seprating products into different classes on the bassis of certain predetermined standard relating to size and quantity.Chips
Branding means giving an identity or attractive name , symbol or identity mark a product different from other so people can recognize the Brand. Food chains
Pricing is the process where a business sets a price at which it well sell its Products.
Promotion refer to raising customer awareness of a product or brand where by customers are made aware of the product, its distintive feature price availabillity etc. Ex- Ads and Discounts
Distribution is the process of making product or service available, for the consumer or business that needs it. Ex- Amazon
The activity of trying to bring a buyer to a point where he exchange Money to sellers for Goods and Services. Ex- Online and offline sales
Retention or Customer retention refer to ability of Company to hold the customer beyond the first sale.