by admin at Monday, April 14, 2008 in Marketing

“Marketing and Sales- brain and body of business”

In the present epoch, Marketing is not merely about the 5 P’s anymore, infact, it is an innovative and ever-changing rock band of various instruments harmonized to accomplish the strategies and objectives of a business. Sales, however, differs from marketing. To put it in plain language, the process from market research to packaging is the function of Marketing; from packaging to the hands or reach of the customers is Sales. You may call Marketing as the “brain” and Sales as the “body” of business. However, this brain and body of business is only but a little lesser complex than the human body itself.
We don’t say that we differ with the established definition of Marketing, that is, “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives”; we only believe that there is more to this definition once you put it in the practical scenario.

In today’s competitive global market, it involves micro and macro market analysis, focused on strategic intentions where sales is driven more by tactical challenges and customer relations, which various from industry to industry.

Marketing has to be viewed as a science than an art. We have devised this guide to Marketing and Sales as something more than just the 5 P’s to provide our readers with a practical direct. Here is a quick and easy guide!

MARKETING

To a “true” marketer, the marketing role in a company is not just a business function, but a business philosophy. An effective marketer truly believes “dominating” their target market is “owning” their market.

a- Market Research

1. Project management
2. Gathering data before physically entering the market
3. Analyzing market needs
4. Evaluating market trends
5. Software selection, training, maintenance of customer contact information

b- Competitor Analysis

1. Gathering as much competitor information as possible
2. Evaluate it on practical grounds
3. Appraising your business feasibility
4. Pricing Analysis of the competitor
5. Customer pricing Vs your pricing

3- Marketing Communications

1. Establishing product promotions links
2. Deciding advertising
3. Participation in trade shows to get first hand customer feedback
4. Assist in selection and prioritization of all media options: print, broadcast, multimedia
5. Establishment, guidance and coordination of all areas of public Relations
6. All printed / electronic communication: brochures, catalogs, price lists
7. Establishment, guidance and coordination of all areas of public Relations

SALES

To excel in any selling situation, you must have confidence, and confidence comes, first and foremost, from knowledge, which marketing, your brain has already provided you with; now the body has to function.

a- Establish distribution channels

1. Decided the mode of distribution
2. Fix commission if using other’s outlets

b- Product knowledge

1. Know all the technical and other details of your product
2. Have all the product literature
3. Ask yourself as many questions as you can assume as a customer about the product.

c- Competitor Knowledge

1. Know all about your competitors
2. Know the UNPs (Unique selling prepositions) of your products
3. Be convinced yourself first

d- Communication

1. Let the customer take the lead. The customers decide what’s important. Your job is to listen and respond.
2. Get the prospect “into the act.” Let him feel it, weigh it, admire it.
3. You are the company. Remember you are the company and the product for the customer. Sell yourself, instead of the product.
4. Learn to quickly get your prospect interested in, and wanting your product, and then systematically present your sales pitch through to the close, when he signs on the dotted line, and reaches for his checkbook.
5. Review your sales presentation, your sales materials, and your prospecting efforts.
6. Highlihgt the USPs

e- CRM (Customer Relationship Management)

1. In business, 80/20 applies. 80 % of your business comes from the 20 you’re your clients. Identify the 20%
2. Remember that customer is your wage; treat your wages accordingly
3. As HR says, “Treat the customers like kings.”

As most of the businessmen err, don’t just jump and through your idea into the market; do the homework first. No matter how great or original your product or idea may be, you need to know the ground truth about your ideas before you spend countless hours and money taking a new product or service to market.  You may feels we are putting dissuasion on your new business idea creation, but in fact, it is just the opposite: we are encouraging you to find out what your customers want, and what they would like to pay for. Good luck!