Marketting is an art or process of building an infrastructure to make your product to reach ultimate buyer or consumer. Where as selling is actual transfer of your product to ultimate buyer or consumer.
In other words Marketting is demand generation for a product where selling is the execution of demand requirement..
If you want to sell your home, I'm going to share with you some practical advice that will help you do it more quickly and more profitably. It may require you to think about the process a little differently than you have before.
Home Owner as CEO When you decide to sell your home, you become the CEO of your own small business. You have just one product to sell, the home itself. The core of my advice is to act like a CEO. Surround yourself with people that will make you successful. One function of your company will be marketing. If you think that what you need is a salesperson, you might want to reconsider and look for a marketing director instead.
The Four P’s of Marketing If you hire a competent marketing director you will get assistance in four areas. In any basic marketing course the first thing you learn are the four “P”s of marketing, Place, Product, Price, and Promotion.
A good marketing director will develop a plan that integrates the four P’s into a consistent marketing strategy. Where the emphasis is placed by your marketing director will determine how quickly and profitably your home will sell. Many homes sit on the market for a long time and eventually sell at a deep discount because the owners got poor advice about how to position their home vis-à-vis the four P’s.
The First “P” Place – The Distribution Systems for Home Sales The first P, “Place” in marketing terms originally meant just that, where something was sold. As technology evolved the more precise definition became the distribution method or “channel.” There are really only two channels for selling a “resale” home. The first is “For Sale by Owner,” the so-called FSBO (fizz-bo) method. However, most homes are sold after being listed by a licensed real estate broker on the Multiple Listing Service or MLS. MLS is the core of what is the dominant distribution system for resale residential real estate. In the last few years MLS data has been made available on the internet to anybody with a computer. This evolution of the distribution channel has dramatically changed the way real estate is sold. Even FSBOs can have access to this distribution channel. The system has become so convenient and so pervasive that there is virtually no significant advantage to be gained by focusing on the channel in selling your home.
Selling begins when a product or service becomes available for consumption or use. This function covers retailers’ awareness and confidence on the product and cultivating customer advocacy for the maker of the product or service.
Marketing, on the other hand, is much broader in scope and starts long before the selling process takes place. It covers everything about the market, the consumer, and the brand.
