your 1st custom essay order

15discount is your discount code
Order now

Correct implementation of marketing and sales strategies is crucial in maximization of business profits. Marketing and sales are interdependent aspects in generation of revenue from a product. Effective marketing sets a stage for launching sales and procurement of revenue for a business. Despite this interdependence, differences exist between marketing and sale strategies. Marketing strategies involve activities meant to create awareness about a business among potential customers. These activities seek to clarify the benefits customers accrue by using services of a particular business as opposed to services of competitors (Mehta, 2008). Communication venues employed in marketing are less individual-oriented. On the other hand, sale strategies focus on promoting customer orders in order to generate revenue for a business. These strategies are individual-oriented due to the need to obtain agreement on a product of concern. A combination of various sale strategies causes customers to decide to purchase a service or product. Scenarios of one-on-one meetings are common in execution of sale strategies.

Development of a new product requires consideration of some guidelines that will promote business advantages derived from the product. First, it is important to conduct a comprehensive market research in order to obtain an overview of target population. Secondly, an analysis of market competition guides the development of a product that is distinct from those offered by other market players. Thirdly, testing of different marketing approaches helps in selection of the most effective marketing strategy for a product. Fourthly, establishment of a public relations program provides a platform upon which potential customers can review a product (McDonald, 2002). This promotes the enhancement of product quality. Before launching a new product, consideration for overall timing is crucial as it determines readiness of a product. Other aspects of readiness include a timeline for and preparedness of employees in marketing a product. 

Need more Economics Essay Examples?

Related essays

  1. Accounting Basis
  2. Economic Statistics Analysis
  3. Economic Statistics
  4. The Influence of Economic Growth