8 Questions
What is the primary focus of the 'Selling' approach?
Product features
What is the correct sequence in the 'Marketing' approach?
Survey ➔ Wants ➔ Produce ➔ Sell
What is the primary goal of the 'Selling' approach?
Increase sales volume
What is the key difference between 'Selling' and 'Marketing'?
Product-oriented vs. customer-oriented
What is the outcome of the 'Selling' approach?
Possible stock, possible sale
What is the primary objective of the 'Marketing' approach?
Offer products customers want
What is the business perspective in the 'Selling' approach?
Inside-out
What is the time orientation of the 'Marketing' approach?
Long-term
Study Notes
Selling vs Marketing
- Selling involves having customers buy products they may not fully need, with a focus on producing and selling products to generate stock and sales.
- Marketing, on the other hand, involves offering customers products they want, with a focus on understanding customer needs through surveys and producing products that meet those needs, resulting in no stock and no sale.
Key Differences
- Selling starts with the factory, focuses on the product, and has a business-to-business perspective, whereas marketing starts with the customer, focuses on consumer needs, and has a door-to-door sales perspective.
- Selling has an inside-out perspective, with a short-term orientation, focusing on volume and cost price, whereas marketing has an outside-in perspective, with a long-term orientation, focusing on profit and market value.
Marketing Examples
- Business planning, newsletters, search engine optimization, online marketing, trade shows, and placing ads on TV are all examples of marketing strategies.
Upcoming Events
- Online meeting with entrepreneurs on Wednesday, 26.
This quiz covers the key differences between marketing and selling, including the concepts of producing and selling products, and understanding customer needs.
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