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Marketing Marketing is the creation of long-term demand, while sales is the execution of marketing strategies. Marketing is buying the land, choosing what crop to grow, planting the crop, fertilizing it, and them deciding when to harvest. Sales is harvesting the crop. Salespeople in general don’t think strategically about the business Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objective Marketers have to Identify or anticipate a consumer need Develop a product or service that meets that need better than any competing products or services Persuade target customers to try the product or service And in the long term, modify it to satisfy changes in consumer needs or market conditions. Marketers can design particular features, attractive packaging, and effective advertising, that will influence consumers` wants. Marketing thus combines market research, new product development, distribution, advertising, promotion, product improvement, and so on. Necessary marketing vocabulary Distribution channel – all the companies or individuals involved in moving a particular good or service from the producer to the consumer To launch a product – to introduce a new product onto the market Market opportunities – possibilities of filling unsatisfied needs in sectors in which a company can profitable produce goods or service Market research – collecting, analyzing and reporting data relevant to a specific marketing situation Market segmentation – dividing market into distinct groups of buyers who have different requirements or buying habits Packaging – Wrappers and containers in which products are sold Points of sale – places where product is sold Product concept – idea for a new product, which is tested with target consumers before the actual product is developed Product features – attributes or characteristics of a product: quality, price, reliability, etc. Sales representative – someone who contacts existing and potential customers, and tries to persuade them to buy goods or services