What is the Meaning of Sales & Marketing and Their Advantages?

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Is having a great product the only requirement to run a successful business? For most companies, the answer is no. Why? Because generating sales requires potential customers to understand that a product exists, what it does, and why it's better than a competitor's offering.

The responsibility to communicate that information rests on the shoulders of the marketing and sales teams. Typically, marketing has a predominant role at the beginning of a potential sale. For example, a marketing team may develop a new radio campaign to help spread awareness about a product launch. A sales team works to finalize a deal by communicating directly with leads and addressing their concerns.

Another advantage sales and marketing teams exploit, is collaboration. Rather than operating as independent units, strong information and idea sharing between the teams can help improve results and create a seamless experience for prospective buyers.

Here's a comprehensive overview of the meaning, responsibilities, and techniques of each segment.