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Marketing, Business development and Sales


All three functions Marketing, Business development and Sales has one thing in common that they try to push organisation products and services to their target markets. These are integral and complimentary to each other with certain overlap also.
All three function will directly contribute to help grow your business!!

Marketing

This function will focus on various activities so that their target market should receive appropriate message about their company’s products and services. They play a key role in market segmentation and product position however these two activities (market segmentation and product position) should have done with consultation of business development function.
Marketing also decide on the various strategies to reach out to target audience, by focusing on brand or product positioning based on organisation or products key differentiators.

There are various marketing strategies companies are adopting such as website content, digital marketing, email campaigns, exhibitions, event promotions, road shows, product seminars etc.

Business Development

Marketing and sales always been the buzz words in business domain. Previously, activities related to business development function were handled by Marketing and Sales department however now we see that most of the organisations have their dedicated business development force.
Key result area for business development function is to create a greater business pipeline with qualified leads. It is about researching your target market, making connections to prospects, qualifying prospects to leads.
Business development function actually try to build upon the brand value which has been created by marketing efforts about your organisation product and services.

Sales

Sales will take the lead to close the business transaction. For this, sales function will lead qualified customer through following steps…

Presentation       
Objection handling      
Negotiation       
Close

Every process step is important however “closing” can be considered as most important step where customer is ready to sign the contract. This is most important because, starting from marketing activities to business development efforts to sales process, organisation goal is close the deal in their favour and it is absolute essential for organisation survival.

After “closing” sales function should try to get referrals from customer. Customer referrals are most powerful selling and marketing tool available and most of the times it is quickest way to come to “closing” step for any new opportunity.

Best way to sell something: don’t sell anything. Earn the awareness, respect and trust of those who might buy. – Rand Fishkin, Founder SERmoz




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