Often people get confused when asked to differentiate between Sales and Marketing. While we would endeavor to have clarity by defining both the terms, but marketing in nut-shell is providing end-to-end solution to the consumers.
Sales is the activity related to selling or the amount of goods or services sold in a given period of time. In other words, seller is interested in generating voluminous sales irrespective of consumer-centric approach.
Whereas Marketing is a broader aspect with customer-centric approach right from understanding consumer needs, designing product/service according to consumer needs, segment the market, targeting mass or specific segment, positioning the product to the targeted segment, thereafter, execute the sales followed by after sales service to ensure consumer derives satisfaction out of the product/service purchase decision. This process ensures consumer loyalty to the brand/product and likely to generate an instinct in consumer mind for repeat purchases.
Marketing Research is the activity carried out for the target segment of the product by selecting a random sample population, to understand what consumer wants. It is the process that links the manufacturers, distributors/retailers, consumers or end users to the marketer through information generated to identify marketing opportunities and comprehend issues, in an effort to deliver consumer satisfaction for the product.
Although there are numerous definitions of Marketing by different marketing experts but we would reproduce, in verbatim, the one given by prominent marketing guru Dr Philip Kotler - "the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
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