Introduction
Sales and marketing are the life blood of an organization. It is only through the marketing activities the product of an organization reaches the ultimate customer or the end user. Sales and marketing have their origin from the time immemorial from the barter system. Effective and efficient sales and marketing divisions are precious assets to any organization.
Concept of sales and marketing
Sales are the exchange of goods and services for money. It is a seller oriented process and it may not provide any value to the customers. The sale consists of creating awareness of the product, its specific features and the advantages to the customer and closing the deal by selling off the product. This does not concentrate on the particular level of the customer or the need of the customer. Sales is the “total dollar amount collected for goods and services provided.” (Sales: Definition, n.d., para.1).
Marketing is the promotion of goods and services to the customers by creating the need for the product and analyzing the needs and wants of the customer. Marketing is buyer oriented and it considers the customer values. “The Chartered Institute of Marketing defines marketing as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably’.” (What is marketing?. n.d., para.2). “Philip Kotler defines marketing as ‘satisfying needs and wants through an exchange process’.” (What is marketing?. n.d., para.5).
Marketing depends on the four P’s.They are product, place, promotion and price.
Riordan manufacturing company
Riordan manufacturing company is a plastic manufacturing company which was established in the year 1976. Its parent company Riordan is a fortune 1000 enterprise. It has nearly 550 employees with glorious growth in the past 25 years. It has its headquarter in San Jos. The main products of the company are beverage bottles, fans, automobile parts, appliances.They have different systems for planning and forecasting of budget related activities. The company’s main aim is production at a higher rate with reduced cost and improved customer service.
Marketing mix of the company
Marketing mix starts with product development. The company uses the help of past data and previously recorded information as the base for the design. It develops the prototype for sample testing. It has a separate wing for off shore contracts and reviews are done in such a manner that customer satisfaction is given priority. The second opinion on the product design is given a special consideration. Promotional activities of the company are very effectively performed with the experience in the industry. Channel partners or the distribution partners play a major role in the sales promotion activities. The company’s sales are through distributors, retailers and wholesalers. The focus of promotion is on discounts and industry visibility. The retailers are given a discount as promotion tactic; they are given a price break i.e. reduction in price while purchasing. Industry visibility is the gift to the channel partners as the token of motivation. Publicity is given through the channels, mail catalog and chain stores. Press release also contribute to product awareness and promotion.
Place is very important as far as sales is concerned. The company has its presence in multiple nations where awareness and utility of the product is very high. They have presence in almost all the major cities of the US and China.
Pricing of the company has much reduced effect. Pricing is a crucial part for the manufacturers. Price fixing is to be done with due consideration for profit, feasibility, availability and production efficiency. The company concentrates much on reduced cost by the analysis of the potential market and the purchasing power of the people.
Business System of the company
The distribution channels: There are different channels in the distribution sector. The use of different methods and techniques contribute much to the company.
The Web policy: The online marketing has a major role in product promotion and it provides ease in buying the product online by the customers. The company keeps separate software for maintenance of data and the different kinds of transfer of products to the customers. It also keeps the data of the customers hidden to protect the privacy among the company and its customers.
Finance department: The finance department of the company has different functions. Its EDI system is helpful in accounting different kinds of transactions through the software as it finds the manual system of reporting obsolete and errors occur in the accounting process.
The marketing Services: The marketing department does continuous research on the target market, size of the potential market and the sales market. This department indulges in the development of internet market strategy. The main support provided by this department is on public relations.
Conclusion
The discussion on the sales and the marketing activities of the company gives the vivid idea of the essentiality of them in the company. The achievements of these activities result in the profitability and the success of the company.
Reference List
Sales: Definition. Investor Words.com. Web.
What is marketing? Learn Marketing.net. Web.