The Difference Between Marketing And Selling!

What is Selling? “SELLING is a process of transferring a product or service to a buyer at a price
regardless of his or her need.

What is Marketing? “MARKETING is a process of transferring a product or service to a buyer at a competitive price in order tosatisfy his or her need.

Selling vs. Marketing

SELLING
“Sells what the producer has and need not necessary be a product or service that the Buyer wants”SELLING “Sells what the producer has and need not necessary be a product or service that the Buyer wants”

MARKETING
“Markets a product or service that meets the needs of the Buyer and is not what the producer has to sell"

SELLING
“Focus on the needs of the Producer” –example, selling all the funds of a fund house because they
are available.

MARKETING
“Focus on the needs of the Buyer –example, a growth fund for child education or income fund for a retirement plan”

SELLING
Selling makes use of short-term tactics to get sales –examples are free gifts, discounts, rebates, bribes, etc.

MARKETING
Marketing makes use of long-term strategies to get sales – examples, value-added service, customer education, meeting objectives.

Source: Mike Lee, CFP,RFP Chartered Marketer, Dip. M, MCIM