Entrepreneurship Development

ENTREPRENEURSHIP DEVELOPMENT FOR RURAL FAMILIES 4(1+3)

Lesson 15 : Marketing Management

Marketing Vs Selling

The basic difference between marketing and selling lies in the attitude towards business. The selling concept takes an inside-out perspective. It starts with the factory, focuses on the company’s existing products, and calls for heavy selling and promoting to produce profitable sales. The marketing concept takes an outside-in perspective2. It starts with a well-defined market, focuses on customer needs, coordinates all the activities that will affect customers and produces profits through creating customer satisfaction.

Starting point	Focus	Means	Ends
Selling Concept Factory	Products

Marketing vs. Selling
Focuses on Customer’s needs	Focuses on seller’s needs
Customer enjoys supreme importance	Product enjoys supreme importance
Converting customer’s needs into Product	Converting product into cash
Profits through customer satisfaction	Profits through sales volume
Emphasis is given on product planning and development to match products with the market	Emphasis is placed on sale of Products already produced
Integrated approach to marketing is practiced	Fragmented approach to selling is practiced
The principle of caveat vendor (let the seller beware) is followed.	The principle of caveat emptor (let the buyer beware) is followed.