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Business DevelopmentDefine and establish strategic business and technology goals and objectives:
For the industry and its subunits
Establish long and short term goals
Specify expected results and provide direction as to what needs to be accomplished in the network of strategies, policies, procedures,
rules, budgets and programs
Being Aware of Opportunities
Being aware of opportunities:• Both external and within the industry• Realistic diagnosis of these environments• Be aware of strengths and weaknesses of the industry
both business wise and technology wise• Being aware of possible future opportunities • Analysis should include details on where the industry is
at present, technological and business challenges facing the industry and the marketplace and where it will be few years down the road i.e. in future which technology will take it there how to overcome industries' technical challenges and forecast the trends and patterns in technology which will lead to the industry’s success
Market OpportunityMarket opportunity:
Size of the market
Prospective inches
Marketing mix required to
succeed
Core competencies
required
Factors that Drive Customer Acquisition
Study of factors that drive customer acquisition:• Technological advancements• Innovations in the industry• Purchasing frequency or volume• Policy changes• Customer service• Enhanced value or features of the
product• Continuous improvement
Tools Used to Create Awareness in Target Markets
To create awareness in target markets, tools typically used are:• Advertising• Internet• Telemarketing• Personal seminar• Technology meets and Conferences• Product launches• Product promotion through personal interaction• Interaction with customers and technology partners,
academia through seminars and workshops to create awareness of new products
Market Intelligence System
Market Intelligence System:
Customer Intelligence Competitor Intelligence
Market Research Process for Business Development
Market research process:• Problem definition• Define research objectives• Working out a research design• Deciding on the source of the data• Planning and deciding on data collection tools
and techniques• Analyzing data• Marketing intelligence system
Process of Marketing Planning
Process of marketing planning:• Participation(Steering committee and representatives from
functional units and divisions)• Scheduling• Review• Monitoring• Market research and evaluation• Lead generation• Events, products and service launches• Promotion• Communication• Advertising• PR
Marketing Strategy for Business Development
Marketing strategy:• Increase in price of SBU• Convert non users to users• Convert competitor’s customer’s into firm’s
customers• Launch new products for different customer groups• Improvements in service strategy• Increase consumption of the SBU in existing
customer’s groups by identifying new use situations or new applications of the existing product
Business Development - Factors involved in industrial buyer’s decision making process:
Tool or service performance in the form of continuous and reliable product
Technology fit
Service
Company’s sales force
Guaranteed delivery and deadlines
Enhancements and upgrades
Flexibility of upgrading
Flexibility in the implementation process
Transfer of technology from one node to another
Minimized cost and time overruns, scope creep
Business Development - Factors involved in industrial buyer’s decision making process (Con’t):
Scalability and performance
Security and manageability
Training, support, reports and manuals
Vendor credibility
Maintenance and support challenges
Process and business challenges
Alignment to other processes
Integrated hardware, software and processes with minimized downtime
Return on investment
Business Development - Factors differentiating Industrial buyer from a Household buyer
•Size of the buyer1.•Risks in purchases2.
• Organizational purchase decisions are joint5.
•Adherence to specifications6.
•Buying motives3.•Concentration of buyers4.
Business Development - Buyer’s Decision Making Process
•Recognition in the marketplace1.•Product specifications2.
•Selecting the vendor5.•Determining the order size and placement of the order6.
• Review and feedback7.
•Laying down qualifications for potential vendors3.•Evaluating the proposals4.
Business Development - Variables influencing Industrial buyer’s Decision (Environmental)
•Level of demand1.•Economic outlook2.
•Political and regulatory developments5.•Competition6.
7.
8.
•Rate of interest3.•Technological Change4.
Business Development - Variables influencing Industrial buyer’s Decision (Interpersonal)
•Authority1.•Status2.•Empathy3.•Persuasiveness4.
Business Development - Variables influencing Industrial buyer’s Decision (Organizational
Variables)
•Objectives and goals1.•Organizational policies2.
•Systems5.• 6.
•Procedures3.•Organizational Structures4.
Business Development - Variables influencing Industrial buyer’s Decision (Individual Variables)
•Age1.•Education2.
•Personality5.•Job position 6.
•Income3.•Attitude towards risk taking4.
Business Development – Benefits of Superior Quality
•Stronger customer loyalty1.•More repeat purchase2.
•Improved market share5.•Price without affecting its market share6.
• Less vulnerability to price wars3.
• Lower marketing costs4.
Business Development – New Product Development Process
•Idea generation1.•Defining target market2.
•Product development5.•Competition Test marketing6.•Commercialization7.
8.
•Concept development and testing3.•Feasibility analysis4.
Common Sources of New Product Ideas
•Research and Development1.•Competitors2.
•Laboratories5.•Foreign markets and media6.•Visionaries7.•Management8.•Leaders9.•Changing Customer’s needs10.
•Employees and team work3.•Trade Channels4.
Common Sources of New Product Ideas
•Transfer of technologies and ideas from one industry to another1.•Socio-political and cultural environment2.
•Customer’s needs and expectations5.•Industry’s changing demands 6.•Accidental discoveries7.•Technological advances 8.• 9.• 10.
•Population demographics3.•Globalization4.
Strategic Marketing for Business Development
•Understanding markets1.•Finding market niches2.
•Understanding market size and demand for the company’s products5.•Understanding market volatility6.•Threats to competition7.•Customization strategies that needs to be adopted8.•How can brand equity be enhanced9.•Understanding of the positioning of the competitor’s products10.
•Managing for results3.•Distribution4.
Strategic Marketing for Business Development
•Understanding and evaluation of new and emerging technologies1.•Understanding structural changes in brand positioning to distribution2.
5.• 6.• 7.• 8.• 9.• 10.
•Effective strategic analysis and positioning3.•Distribution4.
Effective strategizing for Business Development
•Defining goals and objectives1.•Thorough understanding of the problem2.
•Setting a time frame5.•Effective risk assessment and management6.•Effectively collecting relevant data7.•Effective data analysis and pattern recognition8.•Analyzing correlating patterns9.•Understanding the orientation and structure of the market 10.
•Strong and committed leadership3.•Conceptualizing4.
Effective strategizing for Business Development
•Designing and formulating solutions1.•Anticipating unpredictable factors and planning for predictable ones2.
•Translate plans into actions through effective execution and implementation5.•Anticipate emergent strategies that are dictated by market forces6.•Convert tactic into long term strategies and solutions7.•Ploy and positioning in the marketplace8.•Formulating effective policies through effective planning9.• 10.
•Planning and coordination3.•Effective maneuvering action plan to gain an edge over competition4.
Studying and Mapping of Industry Dynamics
•Establish strategic business and technology goals and objectives1.•Analysis of the internal and external environment of the industry2.
•Developing alternative courses and action5.•Evaluating alternative courses6.•Selecting a course i.e., adopting a plan7.•Formulating derivative plans8.•Proper budgeting9.•Coordination of short and long term plans10.
•Being aware of opportunities3.•Developing premises4.
Studying and Mapping of Industry Dynamics (Con’t)
•Define industry and its sub units and its functions1.•Identify business and technology strategies in place2.
•Comparison to industry standards5.•Create clear linkages to business strategies along with creating a strategic roadmap6.•Asses industry and marketplace’s readiness to technology and changes7.•Scope major business process that needs to e transformed8.•Identify changes in the business structure and its impact on business 9.•Redefine industry and its subunits goals and objectives10.
•Business analysis and forecasting3.•Technology analysis and forecasting4.
Long Term Value Creation
•Business process study1.•Project scope management2.
•Project resource allocation5.•Project risk assessment and management6.•Project execution and implementation7.•Project training8.•Project report9.•Project sign off10.
•Organizational planning3.•Project plan management4.
Long term Value CreationThrough technical seminars and workshops at customer’s site to meet customer’s specific needs
Coordination and facilitation of technical discussion and selection
of products and services
Providing technology solutions through root cause failure analysis
Through study and analysis of all the steps of the processes and not just the key processes to deliver total package technology solutions
Facilitate product demonstration and qualification along with pilot studies where applicable to
promote next generation products and to create long term value creation with the customers.
Understanding the life cycle and demographics of the customer to provide long term value creation
Prospect
First time buyer
Repeat buyer
Core buyer
Defector
32
Major Events Which Pull an Organization Off Target
1. • Change
2. • Complexity
3. • Mistakes
4. • Delegation
Purchase Decision for Business DevelopmentPurchase Decision
Problem/Need recognition
Evaluation of Alternatives
Decision
34
Bases for Selecting from among Alternative Courses of Action – Decision Making Process
How to select among alternatives
Reliance on the Past Choice Made
Research and Analysis
Experimentation
35
Flow Diagram of the Rational Decision Making Process
-Recognizing Problems-Deciding priorities
Diagnosing the
problems
Developing
alternating solutions
Measuring and
comparing consequen
ces
Decision implementation and follow up
Product Market Selection
•For whom is the product most important1.•What should the product offer2.
•Research and development5.•Manufacturing process6.•Marketing7.•Capacity8.•Location9.•Personnel10.
•What form should the product take3.•What markets should be served4.
Global Impact – Rationale for Globalization
1 •Political changes
2 •Economic changes
3 •Social changes
4 •Technological changes
Implications of Globalization
•Demand 1.•Supply2.
•Global distribution of competitors and its impact5.•Size and distribution of the market6.•Technology7.•Quality8.•Specifications and standards of the products9.•The way industry and the market is served10.
•Competition3.•Global distribution of the companies and its impact4.
Implications of Globalization
•Core competencies 1.•Threat from substitutes and competing technologies2.
•Political and social and trade implications5.•Economies of scale in production and marketing6.•Intellectual property rights7.•Trade laws and regulations8.•Dominance in the marketplace9.•Supply chain logistics and management and its implications10.
•Supplier’s bargaining power3.•Buyer’s bargaining power4.
40
Process of Organizing for SMEs1.
• Setting up and coordination of objectives and goals
2. • Creating different departments
3.• Identifying which departments will be key
players4. • Grouping activities into departments
5.• Determining levels at which various types of
decisions are to be made6. • Determining span of management
7.• Determining and assigning lines and levels of
accountability8. • Setting up a coordination mechanism
9. • Addressing problems and contingencies
10. • Realization of objectives and goals
41
Charismatic Leadership
1. • Self Confident
2. • Having strong convictions
3. • Articulating a vision
4. • Are able to initiate changes
5. • Communicating high expectations
6. • Having a need to influence followers and supporting them
7. • Demonstrating enthusiasm and excitement
8. • Are in touch with reality
9. • External factors such as environmental situations affecting leadership
10. • Internal factors such as the characteristics of the followers
42
Essential Skill Sets of a Manager
BEING A VISIONARY LEADING CONCEPT
UALIZING
ORGANIZING
EXECUTING
DESIGNING SOL’N
PLANNING
BLUEPRINTING (NAVIGATIONA
L SKILLS)STAFFING
CONTROLLING
RESOLVING HUMAN & TECHNOLOGY
PROBLEMS
IMPLEMENTING
BEING A VISIONARY LEADING CONCEPT
UALIZING
ORGANIZING
IMPLEMENTING
DESIGNING SOL’N
PLANNING
BLUEPRINTING (NAVIGATIONA
L SKILLS)STAFFING
CONTROLLING
RESOLVING HUMAN & TECHNOLOGY
PROBLEMS
EXECUTING
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Path goal approach to leadership effectiveness
Characteristics of subordinates
Leader behavior
Functions of the leader
Work environment
Motivated subordinates
Effectiveorganization
44
Process Of Management or Management Functions
Planning
Organizing
DirectingControlling
Executing
Implementing
Conclusion
THANK YOU
