In business parlance, sales refer to the exchange of products and services for money whereas marketing is a broad term that involves a chain of activities such as market research, promotion, and sales. Marketing focuses on customer's need, whereas sales stresses on the needs of the company. Marketing is all about ascertaining human needs and satisfying them, by providing the products they require, or say, it is about meeting needs profitably. On the other hand, sales is simply, inducing the … [Read more...]

Micro Economics talks about the actions of an individual unit, i.e. an individual, firm, household, market, industry, etc. On the other hand, the Macro Economics studies the economy as a whole, i.e. it assesses not a single unit but the combination of all i.e. firms, households, nation, industries, market, etc. ‘Economics’ is defined as the study of how humans work together to convert limited resources into goods and services to satisfy their wants (unlimited) and how they distribute the same … [Read more...]