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Thursday, May 13, 2010

MM - Difference between selling and marketing

Difference between Needs, Wants and Demands
  1. Needs - A state of felt deprivation
  2. Wants - Human need as shaped by culture and individual personality.
  3. Demands - Human wants that are backed by buying power.
Difference in Selling and Marketing

Marketing - Marketing is a system of business activities designed to plan, price, promote and distribute want satisfying goods and services to target markets, in order to achieve organizational objectives.

1 Emphasis is on the product.

2 Company first makes the product and then figures out how to sell it.

3 Management is sales volume oriented.

4 Planning is short run oriented, in terms of today’s products and markets.

5 Needs of sellers are stressed.

Sales - When a company makes a product and then tries to persuade customers to buy it, that’s Selling.

1 Emphasis is on customers’ wants.

2 Company first determines customers’ wants and then figures out how to make and delivers a product to satisfy those wants.

3 Management is profit oriented

4 Planning is long run oriented, in terms of new products, tomorrow’s market, and future growth.

5 Wants of buyers are stressed.

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