Are you a prospective entrepreneur or you are in the business already? It is very important to know the terms used in the business world. As well as to understand these terms and how they work. In this article, you will learn about the difference between marketing and selling.
In entrepreneurship, most people use both terms: marketing as well as selling. However, there is a distinct difference between these two. The goals of each of these two terms are different, and the skills required are different for both. The only one thing in common – you have to be successful at both to have your business done well. So before we highlight some of the very fundamental differences between these two important words, let us look at their definitions.
What is marketing?
Marketing includes all the activities of an individual or a company related to buying and selling their products or services. These activities include advertising your products, selling them, and delivery of goods and services to people. In plain language, marketing definition can be simplified as the process of creating a market or demand for a particular product or service. It is also can be explained as generating people’s interest and desire for some product or service. Marketing also involves the process of understanding customers’ needs and using that knowledge to create products and services in the direction that meets the customer needs.
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What is selling?
Selling or sale, on the other hand, is a part of the activities of marketing focused mainly on going after your prospective customer and speed up the sale of the product. Selling is more of the transaction aspect between the seller and the potential buyer. This involves money exchange between these two parties for goods or services. Selling focuses more on the sales skills that are needed by the seller to seal a deal with a prospective buyer.
What is the difference between sales and marketing?
There is more than one difference between sales and marketing. We’ll look at each of those differences now.
● The first difference is as highlighted in the definitions above but let’s summarize again. Marketing includes all activities and processes of the product, promoting your products, selling, etc. while sales are the interaction between the seller and buyer leading to a completed transaction.
● Marketing is more concerned about the consumer and focuses on a long-term objective of facilitating loyalty and higher satisfaction of the customer, while selling is only concerned about meeting a short term goal of a target amount of product sales.
● In marketing, the needs of the consumer are the deciding factors, and forces behind all the strategies involved in marketing, while in selling, the seller’s needs are the factors guiding sales activities.
● Marketing places a lot of importance on constantly modifying and improving products to keep up with the dynamics of consumers needs and demands, while selling places less focus on the product improvement.
● Marketing places more emphasis on the use of technology advancement to improve products for consumer satisfaction, while selling finds a way only to improve profit and reduce the cost of production if possible.
● Marketing also involves analysis of the market space like other competing products, pricing, distribution channels and it looks to a wider scope of the market populace, while selling focuses only on one-on-one interaction skills needed to sell goods or services.
Now you can understand the fundamental differences between marketing and selling. Both of them are equally essential. Like it was noted earlier, for you to have a successful business that will keep being relevant and also profitable, you have to master these two things and be successful at them.
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