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A to Z Full Forms and Acronyms

What is Sales and Marketing? Difference between Sales and Marketing 

Apr 10, 2022 #sales#marketing, 678 Views
What is Sales and Marketing? Difference between Sales and Marketing 

What is Sales and Marketing? Difference between Sales and Marketing 

Sales refer to the exchange of a product, commodity, or service in exchange for money or in other words sale is a transaction between two or more parties in which the buyer receives tangible or intangible goods or services in exchange for money. Marketing refers to activities that a company or organization undertakes to promote the buying or selling of a product or service.

Difference between sales and marketing?

  • 1. Sale is a transaction between two parties where the buyer receives goods (tangible or intangible), services, and/or assets in exchange for money whereas Marketing is the systematic planning, implementation, and control of business activity to bring buyers and sellers together.
  • 2. Sales refers to the method of selling, whereby the product is offered for sale to the customer at a certain price and at a given period of time whereas Marketing is understanding the need and wants of the customers in such a way that whenever any new product is introduced, it sells itself.
  • 3. Sales process takes an individualistic, customer-centric, one-to-one approach, while marketing is media-driven and targets the entire segment.
  • 4. Marketing focus on moving the products from the company to the market (through product launches awareness campaigns and Advertisement ), while sales focus on moving the product from the market to the customers.
  • 5. Sales focus on the needs of the company, while marketing focuses on the needs of the market.
  • 6. Sales requires convincing skills and conversational skills, while marketing requires analytical skills.
  • 7. Marketing attracts the customers towards the product, while sales push the product to the customers.
  • 8. Sales aims at maximizing profits, while marketing aims at increasing market share and customer satisfaction.
  • 9. Sales begin where marketing ends.

Sales process:

  • Prospecting: Create a list of target customers and perform preliminary research on them.
  • Connecting: Connect with your prospects, often through cold emails or phone calls.
  • Qualifying: Qualify your leads based on their response, need, and readiness to buy a product.
  • Approaching: Schedule an appointment and meet the qualified leads.
  • Product demonstration: Showcase the product and explain its features and benefits.
  • Objection handling: Listen to your prospects' objections, understand their perspective, and address their concern.
  • Closing a sale: Negotiate the price, create a proposal and close a deal.
  • Onboarding: Deliver the product and help the customers get started with it.
  • Following up: Support customers with after-sales service, retain them, and turn them into repeat buyers.

Marketing process:

  • Research: Study the market and your potential customers.
  • Segment: Divide your customers into different segments based on their characteristics.
  • Strategy: Build a marketing strategy for each segment you want to target.
  • Position: Define the distinguishing features of your product and highlight them in your marketing campaigns.
  • Campaign: Create and run marketing campaigns.
  • Performance: Measure the performance of your marketing campaigns.
  • Fine-tune: Modify and fine-tune your marketing campaigns based on their performance.
A to Z Full Forms and Acronyms