Sales and Marketing – A Foray Into the Market
The terms, "Sales" and "Marketing" appear to be similar in functionality and have similar objectives, yet they are two separate entities. There is certainly a strong interspersing relationship between Sales and Marketing, since each complements the other to achieve a common objective of achieving higher sales and maximum profits for the business organization. As far as Sales are concerned, it is purely an act of selling a product or services to customers for profit. Marketing improves the impact of selling and therefore plays a very significant role in the sales of a product.
Marketing essentially is to comprehend the prerequisite requirement of the prospective customer in relation to the product that is offered to the customer. The concept of marketing lies in the fact that the gamut of marketing activities should emphasize on the needs of the consumer while focusing on achieving the expected target of profits. Marketing is defined as the overall activities that are conducted in a systematic manner that would provide an impetus to increase sales and so far as the activities relating to product or services fall in line with the prevalent ethical derivatives.
However, the main objective in marketing stresses on maintaining a healthy relationship with the customer and creating a satisfied customer since a satisfied customer is an asset to the company supplying the products. The customer always comes first and the profits follow much later in priorities. In other words, a customer is entitled to total and undivided attention from the vending company and in case he is taken lightly and neglected, it often detrimental results, such as, failure to retain customers and no further repeat orders leading to depleted profits.
One of the facets of marketing is to ensure that the entire marketing activity is required to be well-planned in a systematic manner to attain business objectives. A methodical effort in marketing is necessary to make sure that customers are induced to buy a particular product and services offered by the vending company which holds true for first time customers. A concerted marketing effort helps not only to boost business but also tend to increase sales by bringing in repeat orders. Marketing professionals play a pivotal role in assessing and analyzing the market conditions and trends for placement of the product. The marketing team joins hands with the R & D, Finance and other departments in the company to help in evaluating the requirements of customers to the R & D department, who design and develop a product that is well accepted in the market.
The pricing and the commercial terms are defined in consultation with the Finance Department keeping in view the market trends, the costs involved in the development of the product and the costs of overheads. The delivery schedules are planned to expedite delivery of products in a manner that benefits the customer considering the priorization of deliveries on a first come and first served basis. The Marketing professionals essentially provide the ammunition to the sales force such as promotional literature, advertising, publicity material to enable them to spearhead with an aggression that would thrart competition.