Mbark Marketing Sales


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Mbark Marketing Sales

  1. 1. %MBArk Read on ................................... Marketing v/s Sales who recognised the need for entertainment whether traveling or working and the resultant product was a Walkman, which -Shivani Chander one can use to listen to music while on the move. PRICE: Under this function, the marketing team needs to finalise the price of the product. PROMOTION: This includes a wide range of activities such as advertising, sales promotions, publicity and personal selling. It also refers to the various methods How many times have you walked into a supermarket and been dazzled by the used to promote the product. attractive banners and flyers, which scream for your attention. Its tough to Advertising includes billboards, ignore the blitzkrieg on your senses, and you end up stuffing your trolley with flyers, radio and television ads, products which attracted you with the one-on-one free offer, discounted value, magazine and newspaper ads etc. beautiful packaging, or simply because the sales personnel would not let you Television commercials are go without a free sample! generally considered to be the most 6 popular media of advertising, hat’s the power of exchange or transfer of products.” reflected through the high rates marketing and sales for In popular usage, the term charged by TV networks for you, the marketing “marketing” refers to the commercial airtime during team grabs your promotion of products and popular TV events or programmes attention with new, services predominantly through such as “Kaun Banega Crorepati”. beautifully packaged, compelling advertising and branding. A recent phenomenon, which is advertising, and attractive However in professional usage, the gaining huge popularity, is displays. After they have piqued term has a broader meaning and advertising through the World your interest levels, the sales team encompasses a wider gamut of Wide Web. moves in to seal the deal. activities, of which sales is a subset. Sales promotions activities These can be divided in four include coupons, purchase points, SO WHAT’S THE DIFFERENCE sections, popularly known as the contests, discounts and sales and BETWEEN MARKETING AND SALES? four P’s: rebates. These activities are The product PRODUCT: Very often the terms undertaken for a pre-determined management aspect of marketing “marketing” and “sales” are used period of time in order to stimulate deals with the specifications of the interchangeably. One must market demand and to have an goods and services and how the remember though that they are not immediate impact on sales. Many appropriate features and quality synonyms for each other. To restaurants have “happy hour” relate to the customer. It also deals understand the difference between prices, which are significantly with a wide range of activities the two, one needs to understand lower than their regular rates. including what products to how they are defined. Publicity and public relations produce and sell, what new Marketing is defined as “The are the different faces of the same products to introduce in the systematic planning, coin. On the one hand, public market, identifying whether any implementation and control of a relations are about handling all existing products need to be mix of business activities intended communication between the discontinued, if any, deciding the to bring together buyers and sellers company and the general public, brand name logo etc. It was Sony, for the mutually advantageous whereas the publicity team
  2. 2. %MBArk Read on ................................... manages the product or brand both the sales and marketing understand each other. The communication between the departments need to work in undisputed fact is that sales and company and the general public. tandem with each other. Knowing marketing are different. At its core, Both are informative activities how to build and nurture inter- the sales team thinks of customers whose primary objective is departmental relationships as individuals. They win accounts promotion of the company’s between sales and marketing is one at a time, by serving each of products. A publicity plan aims at critical for the over all success of their customer’s specific needs. The getting favorable press coverage the organisation. sales department’s concerns are for the company’s products. Successful companies clearly centered on how it can close more PLACE: Also referred to as define their target markets or business deals within the limits of distribution, this addresses how customers and have the dedicated its territory. They focus on meeting the product would reach the joint efforts of the marketing and their sales targets within the customer and where it would be sales teams to satisfy the needs of specified time, instead of focusing available. Distribution ensures that the market. When both on the long-term objective. the company’s product is readily departments work jointly they Marketing, on the other hand, available to the consumer, at a realise the importance of the other. thinks about customer segments store near him. One rarely sees an The Sales team would realise that and the best methods to capture advertisement for a matchstick, yet it is much easier to clinch the deal such segments. When the priorities it is freely available in every corner with the support of the marketing of an individual clash with the of the country: that’s the power of team. Similarly the marketing team priorities of the segment, the whole distribution. discovers the strength of the sales equation can change. If sales and team as they set about realising marketing have a strong RELATIONSHIP BETWEEN SALES their targets. relationship, they can overcome AND MARKETING: It is not always easy for the two such hurdles. If they don’t, these For the success of the company, teams to work together and differences could create a rift between the two departments, Sales is just one activity of the entire marketing process. It is the art of adversely affecting the company’s influencing or persuading a prospective customer to buy your products or performance. services. Marketing activities support sales and are responsible for stimulating It’s not surprising that some of the prospective interests so that they show an interest in buying the product. the best marketing people have Marketing attracts the prospective customer before the sales team meets spent time in sales and vice versa. face-to-face. It is necessary that both Forms of selling includes: departments know how the other Direct sales: Where the company gets in touch with the customers directly functions. Thorough with out any middle men or sales agents. understanding of what drives the The various forms of direct sales are other makes it easier to for the Door to door sales necessary compromises required Telesales to build a successful relationship. Mail order sales Successful companies start by Sale through internet ( B2c) electronic media ( home shopping network) clearly defining their target Indirect sales: Where the company doesn't get in touch with the potential customers first and then buyer but this responsibility is given to the Sales agents/ retail stores /reseller developing an integrated sales, etc. product, and communications plan The various forms of indirect sales are: to attack and win the customers. If Retail sales and marketing are not Wholesale focused on the same target, or if Multilevel Sales they have different views of what is required to win deals, there will With the advancement in technology there are various new sales channels inevitably be friction. This which are part of direct as well as indirect sales. For eg: Web based sales : manifests itself in commonly here sales function could be direct as B2C or indirect as B2B voiced criticisms: “Marketing isn’t
  3. 3. %MBArk Read on ................................... the industry. promotion schemes to marketing Understand Explore opportunities for sales consumer behavior, growth within his region through consumption pattern additional reach outlets, new and percentage of customers, new variants product in the depending on the demand in his consumer’s region consumption basket Marketing and sales functions in for the region. various industries and sectors Know about the coincide, the primary objective socio – economic being identification of target factors, customs tradition of the customers, understanding their giving us what we need,” or “Sales region. needs and wants and how to best is going after the wrong Understand macro level serve them. Having said that, the customers.” economics and the individual focus and approach change with Examples of difference in income level of potential each sector, as customers and their marketing v/s sales in various customers. needs change. Earlier we saw how sectors Explore opportunity for new marketing and sales teams would products /variants – E.g. function in an FMCG, whereas FMCG Temptations when we look at the Marketing – A marketing Explore other avenues for pharmaceutical sector, the end person (across levels) in a FMCG revenue – new customers – new result is the same but the approach company such as HLL or Colgate locations. changes; here the marketing team / Cadbury’s is responsible for Gather Market Intelligence for would be targeting a well-defined making his brand and product monitoring competitive activities segment of doctors where both visible to the customers through Analyse prices, including those marketing and sales efforts would various forms of communication of competitive brands be directed towards them. like advertising, posters, Analyse the reach of the current If a new drug is to be introduced hoardings, packaging etc. He is product range and explore ways to in the market, the company would also responsible for monitoring increase reach through more first and foremost introduce it to usage trends among consumers in outlets the doctors by way of seminars and a particular category, say Undertake advertising conferences, one would not see chocolates. Marketing people also campaigns for own brands and these drugs being advertised on help sales efforts by analyse own communication with TV, hoardings or newspaper and communicating sales promotion respect to competition magazines. Such drugs are schemes such as “buy one, get one In comparison, a sales person featured in advertisements free”. A marketing person is also would appearing in magazines specific to one of the main sources of Collect orders from distributors the pharmaceutical sector. information for the entire product in his region Sales professionals targeting the category across a wider market, for Tour his areas, right down to pharmaceutical sector, better the entire national market. the small shops to check on the known as medical representatives, E.g. A marketing person in displays and sales of his products approach doctors personally, Cadbury’s would: Provide feedback on dealer informing them about the drugs, Have information on the margins, customer responses to a providing them with samples etc. potential amount of chocolate that new product/variant, display at While marketing and sales are can be sold in India shops, and competitive activities in inherently different, it is possible Be aware of constraints to his area to the marketing to make this relationship work. It achieving that potential figure department. is not easy, but the benefits are Know the duties, tax structures, Report sales data something that both sides will packaging guidelines pertaining to Recommend festive sales readily agree on—faster growth and higher profits.