ABSTRACT
Marketing' and 'sales' are often interchangeable synonyms within the middle market. Moreover, when the two are communicated as separate functions, the relationship between marketing and sales is typically backwards. For example, a business card might brandish 'vice-president of sales and marketing'. The correct relationship between marketing and sales is similar to that between strategic thinking and strategic planning. Marketing strategy is developed and executed in existing and potential markets. According to Richard L. Daft, there are four stages of global market development. The first is domestic, which is germane to the home country. The second is international, often commenced by simple exporting before considering joint ventures, acquisitions. The third is multinational, whereby duplicative efforts pepper the globe. The fourth is global, in which a boundary less, integrated company defers to the core competencies of the business model units based on economics irrespective of geography. Value-based marketing requires a keen understanding of the product's value proposition from customer's perspective.
