upGrad Business Development Executive Interview Questions and Answers

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Sales is the process of selling products or services, while marketing is the process of creating demand for those products or services.

• Sales focuses on closing deals and generating revenue, while marketing focuses on building brand awareness and creating a customer base.

• Sales is a short-term process, while marketing is a long-term process.

• Sales involves direct interaction with customers, while marketing involves indire...read more

Identify target audience, network, cold call, attend events, use social media, offer incentives.

• Identify target audience and create a database

• Network with potential clients and industry professionals

• Cold call and email potential clients

• Attend industry events and conferences

• Use social media to reach out to potential clients

• Offer incentives to attract new clients

Types of sales include direct sales, indirect sales, inside sales, outside sales, and online sales.

• Direct sales involve face-to-face interaction with customers, such as door-to-door sales.

• Indirect sales involve selling through intermediaries, such as wholesalers or retailers.

• Inside sales involve selling over the phone or through email.

• Outside sales involve traveling to meet with customers, such as sales representatives...read more

Adam Smith is considered the father of economics.

• Adam Smith is a Scottish economist and philosopher.

• He wrote the book 'The Wealth of Nations' in 1776.

• He is known for his ideas on free market economy and division of labor.

• His theories have had a significant impact on modern economics.

Intangible assets are non-physical assets that have no intrinsic value but can generate revenue for a company.

• Examples include patents, trademarks, copyrights, brand recognition, and goodwill.

• They cannot be touched or seen but are valuable assets for a company.

• Intangible assets are often difficult to value and can be subjective.

• They can also be easily duplicated or imitated by competitors.

• Investing in intangible assets...read more

The 4 P's of marketing are Product, Price, Place, and Promotion.

• Product: the item or service being sold

• Price: the cost of the product or service

• Place: the location where the product or service is sold

• Promotion: the marketing and advertising of the product or service

• Example: A company selling a new smartphone would consider the features of the phone (product), the price point (price), where the phone will be sold (place...read more