Many different departments are integrated within an organisation. Marketing and sales are both important to making any business run because without them, a product or service will not make it off the shelves and into consumers' lives. All businesses need marketing and sales departments to make the maximum amount of money and continue to survive in today's competitive marketplace.
The majority of all companies have some sort of product or service. The company needs to make a profit by getting customers to buy that product or service. Customers will only buy what is sold to them. That's where an organisation's sales department comes in. However, to make sales, a company has to generate interest in what it's selling. That's where marketing comes in.
Significance of Marketing
Marketers promote their company's products or services in as positive a light as possible. To do this, they gather estimates of the demand for the product or service. They also study competitors, according to the Bureau of Labor Statistics.
Marketers also work to study pricing and how it can be used to gain maximum profit. They are highly interested in finding and satisfying their customers, and they often seek out emerging trends that call for a new product or service to be developed. Many times, marketing departments also handle a company's advertising to further promote the product or service.
Significance of Sales
The sales department's primary to goal is to distribute the product to the public. Salespeople often work in separate sales territories. They set sales goals for themselves--or have them set for them--and they are constantly training and honing their pitch to become successful at getting people to buy the product or service. Often, they look at sales statistics to see what sales methods are working the best and where they can make improvements, according to the Bureau of Labor Statistics. The sales department must also ensure the product gets to the customer in a timely manner.
The sales department directly generates profit for the company. Each sale it makes brings in more money for the organisation. The marketing department might generate more expense because it costs money to do advertising and other promotions like establishing a trade show presence or meeting with community leaders. Market research can also be expensive, but it's all necessary to get and keep the public generally interested in what's selling.
The sales and marketing departments both rely heavily on each other. A sales department won't make many sales if no one promotes the product, and the marketing team won't know what's in demand without the sales department's feedback on what's working.