Friday 18 December 2009

Sales or Marketing?

No doubt that Execution and Strategy goes hand in gloves to get better results, But which one is more important of both?

A Marketing Guru says “Sales is short term whereas Marketing is long term".
A Senior manager of one of the leading FMCG MNC says" Strategy is sexy but Execution is what matters".

SALES is the Only Driver. Unless you sell and receive $$$, all that you shout about is useless .Sales is what pays for every activity. Every great inventor has to SELL his/her inventions before people started seeing them as requirement. Sales keep the ball rolling.....

Sales is the only function that generates revenue for the organization. If revenues are important to sustain your business then Sales takes precedence as it brings the money to keep you afloat.

Sales is far more impacting and fruitful for organizations. Marketing can only complement by giving a face to the efforts of the sales department but yes I really believe and practice that "Strategy is a commodity and Execution is an art"

Sales was never part of Marketing although I agree that they are closely linked and it is sometimes difficult to decide whether it's operational marketing or straight sales.Let me put it this way, companies can exist without marketing departments (often this is the first thing that goes in a budget cut because the ROI is difficult to prove) but they cannot exist without sales.

MARKETING helps in bringing more money in a short period of time, as the brand sells easier. If you have enough money to invest without the pressure to generate revenues to sustain yourself.... then marketing can take precedence as it helps in building your brand & message.

Sales is section of Marketing. Marketing generates attention + interest. Sales makes it tailor-made and gets the necessary conformation (Closing). The Better Marketing, The easier the sale. When you think "is it easy to make a sale of a BRAND or NO BRAND?"

Sales can be expensive compared to Marketing! Today how many customers can you visit a day and how can you convince them if your product never existed before

When you market the product, you're making people think about how they would feel with that product in their possession.As an example, I want to say that the sale iPods would not be a success today if they weren't advertised. Marketing plays a large role in helping the consumer organizing their needs and wants for their personal level of satisfaction.

Marketing is only king if your delivering a mass retail product like an ipod. Because lets face it most sales advisors are not that greatest and that product needs to be taken to market. However who is going to negotiate the longtime product placement of these fantastic items.”Sales Person”

Marketing is the key to almost every sale when you are new in the market. Unless you market your self/brand, people will not know about it. You will have customers buying your product/services by getting referred to you from previous clients after you have made a good sale but to get those initial clients in the door so you can make the SALE will require some marketing.

Sales & Marketing

Sales people rely on the marketing plan to help their territory strategy, and Marketing should rely on sales to provide honest feedback on the real conditions in the market that "market research" can't provide.

Both are equally difficult and present their own challenges. Though not everyone is cut out to do both, I think the departments should cross-train. A good marketer can't devise a plan without having been in front of customers in a real selling situation, and good sales persons should be able to understand the rationale behind the marketing plan.

The question is sort of like asking 'what came first, the chicken or the egg?' I think there are three things to consider when looking at building one's business: Image, Brand and Reputation. If you look at the recent dealings with Tiger Woods as of late, you can see how almost his personal image, brand overnight and reputation has been tarnished. Can an ad fix that? Can someone sell us the right story to fix that? My answer would be - not likely. Right now someone is using twitter to share their thoughts on the situation, someone is writing it on their face book page; in fact, I'm even bringing it up on Blog.

Fundamentally, advertisers will say marketing is king, and the sales department will say sales is king.

So, what do I think is most important?
Well, here they are: Quality of product, availability of product, ease of doing business with you, friendliness and helpfulness of sales and service people, enjoyment of product and then the continuous improvement in each of the five areas listed above. Without those elements in the product or the service offering then the marketing department simply brings awareness of a low quality product or service. As for the sales side of things, the sales department can't work miracles by getting people to see past the flaws of the product .

As a side note, I firmly believe that word of mouth advertising (both in terms of friends and the impact of other's opinions on the internet) has much more impact then traditional advertising or 'Madmen', although I believe marketing serves a purpose of bringing awareness of something new, but even that has its challenges.
If you ask sales, they will surely say sales and if you ask marketing, they will surely say marketing. Sales and marketing absolutely go hand in hand. It's NOT an and/or situation. It must be AND. Each has a role in generating value and independently each is weaker. Anyone who actually thinks there is an answer to this question simply does not understand what either does.

Both are important... however it is the stage at which you/your organization is decides which one takes precedence.

“In today's customer driven markets, the roles of sales and marketing have changed so much that they are not as separated as they used to be. Marketing used to take the lead in defining a product, sales would take the leads form the product or service launch and find customers for the product.
Sales can never exist without Marketing and Marketing without Sales.

Friday 27 November 2009

A Mind to Be Grateful

Many of us spend this time of year thinking about how thankful we are. I searched to find some of the greatest thoughts and ideas ever shared on gratitude.

Albert Schweitzer teaches us to be grateful for those who inspire us.
At times our own light goes out and is rekindled by a spark from another person. Each of us has cause to think with deep gratitude of those who have lighted the flame within us.


Meister Eckhart puts gratitude in perspective with two simple words.
If the only prayer you said in your whole life was, “thank you,” that would suffice.

David Steindl-Rast reminds us to enjoy our current achievements.

Gratefulness is the key to a happy life that we hold in our hands, because if we are not grateful, then no matter how much we have we will not be happy — because we will always want to have something else or something more.

G. K. Chesterton encourages us to be grateful in all things.
You say grace before meals. All right. But I say grace before the concert and the opera, and grace before the play and pantomime, and grace before I open a book, and grace before sketching, painting, swimming, fencing, boxing, walking, playing, dancing and grace before I dip the pen in the ink.

President Kennedy compels us to live a life of action.
As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.

Melodie Beattie empowers us with the idea of being grateful for our past, our present, and our future.
Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos into order, confusion into clarity. It turns problems into gifts, failures into success, the unexpected into perfect timing, and mistakes into important events. Gratitude makes sense of our past, brings peace for today and creates a vision for tomorrow.


Wednesday 28 October 2009

For all MBA Aspirants

Best MBA business schools?

All of us would like to do MBA from a good business school. So, how do one find which ones are good business school?

Rule 1 - Do not follow rankings blindly, they can deceive you in the wrong direction.

For me, any school that has AMBA, AACSB and EQUIS accreditation are quality schools. Visit below links to find about more about why these MBA accreditations matter and whether the school you are applying for has the following certification.

IELTS/TOEFL 

If you do NOT have your bachelor's degree from the UK, Canada, USA, Australia, New Zealand and you are planning to study in one of these countries; It does not matter how good you speak, read or write English you would have to bow down and take IELTS or TOEFL. 

I have taken both tests and found IELTS easier and less stressful then TOEFL ibt.

GMAT

GMAT is a must if you are planning to study in a Tier 1 B-school anywhere in the world.  If you are thinking to do it in North America, GMAT is Mandatory and if you are looking at Europe or Australia, GMAT is not required in most of the good schools. Also, some schools may have their own tests as a substitute for GMAT. 

GPA/Grades/Percentage

If your grades are not good and you are looking at top schools, the only rescue would be good GMAT score and strong work experience.

Work Experience

If you want to study in a top school, they are looking for students with a minimum of 3-year work experience. I would not any recommend any fresher to take up MBA; my reason being, once you start working, you will understand your primary goal - what your interests are and whether MBA can help you to achieve these aims.

If you are an impatient brat, have less work experience and looking for a good B-school, well then try to show part-time employment that you might have done while studying. It may help your application.


CV/Resume

One of the important part of your application. Please make sure you have clearly mentioned your job responsibilities in complete details and well supported with your achievements/awards and duration of your work at each organization, etc. 

SOP(Statement of Purpose) /Essays. 

Again, this is a very important part of your application. Your essay should include topics like your background, culture, who you are, what you do, why you want to do MBA, how MBA can benefit you, how B-School can get benefited from you and where you see your self in 5 years.

LOR(Letter of recommendations)

Your LOR’s need to be all praise for you and obviously make sure you take them only from people who can boost big time about you .

If you do not have good work experience, grades and have not taken Gmat. Focus highly on making a strong CV, SOP, LOR. Every application is judged on the whole and not entirely on grades or gmat.

Passport/Visa 

Your passport should have a validity of more than three months before the date of traveling. Visa can take up to a month’s time, so make sure you have received offer letter well in advance with all the VISA formalities from the school. Your IELTS/TOEFL score also supports your VISA application. 

COUNTRY

Confused between Europe, America and Australia? 

My first choice for MBA was one of the top schools from Canada but as I stand today, I understand if I study in North America:

  • I am going to spend nothing less than $60000 for only fee's, Irrespective it being a Tier 1 school or any good top school.
  • Scholarship is not guaranteed, so chances are 1% out of 100. As I compete with entire class and business school, I do not have high hopes on scholarships.
  • MBA is a 2 years programme in North America, which means my living expense can go as high as $30000$ for two years.
  • Part time jobs -  For a fact MBA is an intense programme, and you will be stressed and doing all-nighters to submit your assignments in time. 
  • ROI - I am spending nothing less than $100000 for the full course. By when and what will be my ROI, well you are the best person to judge it for your self.
Further "West is coming to East", I hope you know east is Asia.

On the flip side, if I study in the UK and not think like a true American dreamer. I do not have to worry about my Visa. I can receive it in 10 working days which is not the case with North America or rest of the Europe.

Fee's - UK and Europe as a whole have few good top schools, where total fee is between 15,000 - 25,000 pounds.

MBA course is also for only one year in UK and Europe which also is a big plus for working executives.

Living expense depends on the city and for a city like London you would to shell out up to 800 pounds per month, but then only one year MBA, so expenses only for a year!

When I consider total amount I have spent on my course fee + living expenses + travel + extra’s, I am spending nothing more than INR 25 Lakhs + I won't be doing part time jobs. If I compare it same with North America, I am spending nothing less than 50 lakhs, as dollar is INR 50 at the moment. :)

Now that I have narrowed down my country to UK and Europe, I would choose UK from Europe because in case I come back to India, I feel studied and worked in UK would sound better than rest of Europe.

Additionally, UK is an English speaking country. There will be no language problem’s compared to Spanish in Spain or French in France.

The UK also gives me two years full time work permit after MBA.  Rest of Europe comes in EU(European union), if you want to work post your MBA, your employee has to prove that you can work better than someone  from their country, making it hard for work permits.

I thought of Australia too, with current scenario, I don’t need to say anything i guess....”)

Hope this helps!



Tuesday 1 September 2009

How Easy, but then, how Difficult!

Easy is to judge the mistakes of others; 
Difficult is to recognise our own mistakes.

Easy is to talk without thinking; 
Difficult is to refrain the tongue.

Easy is to hurt someone who loves us; 
Difficult is to heal the wound.

Easy is to forgive others;
Difficult is to ask for forgiveness.

Easy is to set rules;
Difficult is to follow them.

Easy is to dream every night;
Difficult is to fight for a dream.

Easy is to show victory;
Difficult is to assume defeat with dignity.

Easy is to enjoy life every day;
Difficult is to give its real value.

Easy is to promise something to someone;
Difficult is to fulfil that promise.

Easy is to say we love;
Difficult is to show it every day.

Easy is to criticise others;
Difficult is to improve oneself.

Easy is to make mistakes;
Difficult is to learn from them.

Easy is to weep for a lost love;
Difficult is to take care of it so not to lose it.

Easy is to think about improving;
Difficult is to stop thinking it and put it into action.

Easy is to think bad of others;
Difficult is to give them the benefit of the doubt.

Easy is to receive;
Difficult is to give.

Easy is to keep the friendship with words;
Difficult is to keep it with meanings.

Easy is to read this; Difficult is to follow!




Friday 28 August 2009

I Wonder Why!

Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?

Why doesn’t Tarzan have a beard?

Why does Superman duck when the villain throws the empty gun at him, especially after standing straight and taking the bullets on his chest?

Why do we press harder on a remote control when we know the batteries are flat?

Who was the first person to look at a cow and say, “I think I’ll squeeze these pink dangly things here, and drink whatever comes out?”

Why do toasters always have a setting so high that could burn the toast to a horrible crisp, which no decent human being would eat?

Why is it that people say they “slept like a baby” when babies wake up every two hours?

Why do people point to their wrist when asking for the time, but don’t point to their bum when they ask where the bathroom is?

If corn oil is made from corn, and vegetable oil is made from vegetables, then what is baby oil made from?

If electricity comes from electrons, does morality come from morons?

Why do the Alphabet song and Twinkle, Twinkle Little Star have the same tune?

Stop singing and read on, Yes, it caught me too!

Does pushing the elevator button more than once make it arrive faster?



Friday 14 August 2009

Never Give Up - Abraham Lincoln

    • Lost his job.
    • Got defeated for the legislature.
    • Started business and failed.
    • Wife died of a fatal disease.
    • Experienced nervous breakdown.
    • Contested in an election for speaker in the legislature and lost.
    • Tried for nomination in a Political Party and lost.
    • Applied for the post of a Land Officer and did not get it.
    • Contested for Senate and Lost.
    • Contested for Vice President and Lost.
    • Fought again for Senate and Lost.
    And two years later, got elected as the President of America.



    Wednesday 22 July 2009

    Do's and Dont's on a date

    Do's

    • Show up for sure(don't ditch)
    • Wear a nice perfume, but not too strong, as I may get a headache
    • Show only as much skin as you're comfortable showing
    • Please eat, no use starving and wasting my money on the food ordered
    • You might not mean it, but at least, pretend to offer to pay the bill, reach for the purse maybe, just do something
    • I would love if you buy me something like a PlayStation
    • I love it when you can decide on something sometimes; it saves time
    • Even if something goes wrong or the date isn't a fairy tale perfect, don't hesitate to laugh over it
    • I'd love it if you respected my privacy. Do not follow me to restroom
    • Be yourself and don't go out of your way to please me

    Do's and Dont's on a date
    Don'ts


    • Don't get violent while using your cutlery, or when you are eating and talking. You might kill me
    • Don't wear a show that makes you topple over; Be comfortable!
    • I cannot keep waiting, so be on time or I'll just and leave
    • I'd like it if you concentrate on me and not talk about your Ex
    • Don't show up like walking-talking makeup shop. I'd like to see a bit of your real facial skin
    • Focus on me, I am your date. Don't check out other men around
    • You don't need to dab powder every now and then. If you're with me, you are perfect
    • Don't take a bite of my dessert, have your own. I'm paying aren't I?
    • Don't be constantly on the phone with someone else when you are with me
    • If the dinner didn't suit you, please keep the rude sounds in check till we get to a more discreet place
    • Don't be too inquisitive about me. It's just a date, knowing my first name is enough