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Business Development

Overall we define and scope business area, elicit requirements, analyse and document requirements, communicate requirements, identify solution, verify solution and meet the requirements.

business development comprises a number of techniques and responsibilities which aim at:

Tally Academy Glow IPS-Delhi
  1. Researching new types of business/products/services with an emphasis on identifying gaps (existing and/or expected) in the mitigation of needs of potential clients (existing and/or new ones).
  2. Attracting new customers
  3. Penetrating existing markets.

Techniques used include:

  • intelligence gathering on customers and competitors
  • generating leads for possible sales
  • advising on, drafting and enforcing sales policies and processes
  • follow-up sales activity
  • formal proposal and presentation management and writing
  • pitch and presentation rehearsals
  • business model design
  • strategic analysis
  • account planning and performance monitoring system
  • proposition development and campaign development

Business development is often related to growth although sometimes the optimal marketing strategy and objectives could be about downsizing the activity in an existing market or decreasing the sales volume of a selected line of products or services. Business-development roles may have one of two modes:

  1. Sales-oriented (client-facing); or
  2. An operational function to support sales.
         
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