Sales And Marketing Flashcards, test questions and answers

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What is Sales And Marketing?

Sales and marketing are two different but interrelated aspects of running a business. Sales involve the process of selling products or services to customers while marketing is the process of developing strategies to create awareness among potential customers about what your business offers. Although sales and marketing often work together, there are some key differences between them. Sales involves convincing customers that the product or service being offered meets their needs and providing customer service after the sale has been completed. It involves building relationships with clients to ensure repeat purchases occur in order for businesses to grow and remain profitable. Salespeople also use techniques such as discounting, upselling, cross-selling, etc., to increase revenue from each customer purchase. The main objective of sales is to make a profit by making sure customers keep coming back for more products or services from your business. Marketing focuses on identifying customer needs, creating value propositions that can meet those needs, promoting these value propositions through advertising campaigns and other forms of persuasive communication, and delivering experiences that exceed customer expectations so they become loyal advocates for your brand. Marketing efforts may include market research, branding campaigns (such as logo design), pricing strategies (like discounts) and loyalty programs (such as rewards points). The overall aim of marketing is to build relationships with potential buyers before they ever walk into a store or visit a website so they’re likely to buy when they get there as well as buying again in the future if given an incentive such as discounts or rewards points earned through loyalty programs. Both sales and marketing departments contribute significantly towards achieving organizational goals like increasing profits, expanding into new markets/locations/regions etc.