Mili Tugasan Business Writing

8/6/2019 Mili Tugasan Business Writing

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A market developmentstrategy targets non-buying customers in currently targetedsegments. It also targets new customers in new segments.

A marketing managerhas to think about the following questions before implementinga market development strategy: Is it profitable? Will it require the introduction of new

or modified products? Is the customer and channel well enough researched andunderstood?

The marketing manager uses these four groups to give more focus to the marketsegment decision: existing customers, competitorcustomers, non-buying in currentsegments, new segments.

Responsibilities of a Business Development Manager

Business Development Managers

Always seek clear objectives. Business development includes a number of techniques designed to grow an economic enterprise. Such

techniques include assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating

leads for possible sales, follow-up sales activity, formal proposal writing and business model design. Business development involves evaluating a

business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. These tasks

are carried out by business development managers.

Business development manageris also known as economist or a business planner. A manager should devote his attention to business

development and exploiting the business opportunities that are presented to him and his organization. Business development and making your

organization successful is reliant on good knowledge of best practice and management theories.

Adopt a team approach - work with others in pursuing common goals. For some time, business development managers have been stressing the

urgent need for radical new approaches to the corporation. In this paradigm, the bottom line cedes its pre-eminence to the top: the corporation

concentrates on developing new revenue streams from new products and services, while optimizing income from existing lines through innovative

marketing and rapid exploitation of changing customer needs and tastes. The new kind of corporation is, above all, 'agile'.

Top business development managers fret about the lack of creativity and innovation beneath them, below the supertanker's decks, but their own

decision-making processes and command structures stultify efforts - even ones which they themselves have promoted - to develop the new and

rejuvenate the old.

The business development manager must have considerable sales experience, be an organized and strong negotiator, and be aware of and

responsive to economic trends, government policies and currency fluctuations. A university degree in one of the commerce, accounting,

economics or business administration streams may prove useful (although not necessary) for entry into the position.

The business development manager works to expand a company's product reach and profit revenues. They do this by identifying new markets

and attracting new clients. The business development manager therefore researches new business opportunities, identifies likely sales points,

develops strategic plans and sales strategies, and undertakes presentations to and negotiations with prospective customers.
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In larger organizations the business development manager works with marketing and sales departments, government and industry peak bodies.

Domestic and overseas travel is often a requirement of this position, and report writing is necessary.

In smaller businesses, business development managers answer to owners/executives. However, in larger companies they are answerable to

senior marketing and sales executives.

Responsibility of a Business Development Manager

Investigate the economic conditions surrounding your small business activity such as industry trends and competition.

Conduct extensive market research prior to starting up your business and continue gathering information throughout the life of the

business.

Prepare a detailed business plan so you will not lose sight of your goals and objectives.

Secure sufficient financial resources for future development or expansion.

Contact professional advisors such as an accountant, banker and/or lawyer to provide expert information about your business.

Network with other small businesspeople; establish a support group. Remember, you are not alone.

Attend workshops, trade shows, and seminars to keep up-to-date on changes in the industry.

Adopt a team approach; work with others in pursuing common goals.

Understand the skills and qualities you bring to your business.

Develop a situation analysis of your company including its strengths, weaknesses, opportunities and threats to assist in the

development of a strategic plan for the future of the business.

In general, a business manager is responsible for running the business day-to-day. Whether, a managing director in a medium-sized company or

a business unit director in a large corporate organization, this general management role is crucial to hold the business together, and to lead the

changes which will ensure future success.

Many people have experienced a manager who may not be "up to the job". In most cases they were very effective in their previous role, but then

struggle when they enter the management arena. In sales management, for example, there is an all too familiar pattern of the best sales operative

being promoted to manage the team without adequate thought to the development needs of that person. Coaching could provide the new sales

manager with the business management skills required for success in his role.

Prepare a detailed business plan so you will not lose sight of your goals and objectives. A successful business development manager should

always be seeking clear objectives particularly for those areas of the job where there are outputs you will be required to measure and be

answerable for. Keeping the main objectives constantly in mind is essential even if they evolve or change a bit over time. They should be able to

identify the key actions that the department is going to pursue. This shows clarity.

A business development manager should be able to present the strategy clearly to its customers. The strategy should contain a clear vision

followed by a set of clear time-bound actions in order to achieve consistent success.


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The field ofcommerce, business development comprises a number of techniquesand responsibilities which aim at attracting new customers and at penetratingexisting markets. Techniques used include:

intelligence gathering on customers andcompetitors

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 account planning and performance monitoring proposition development and campaign development

Business development involves evaluating a businessand then realizing its fullpotential, using such tools as:

marketing information management (sometimes conflated with knowledge management) customer service

A sound organization aiming to withstand competitors never stops businessdevelopment says Luis G. Batista, President of LMT Corporation, but engages in itas an ongoing process. However, business development is often related to growthalthough sometimes the optimal marketing strategy and objectives could be aboutdownsizing the activity in an existing market or decreasing the sales volume of aselected line of products or services. Business-development roles may have one oftwo modes:

1. sales-oriented (client-facing); or2. an operational function to support sales.

In a sales role, business development could concentrate on developing strategic-channel relationships or on general sales. This emerges from analysis of the variedjob descriptions found injob-search engines, especially in the UK. In the US, theterm "capture management" appears as an alternative job or role title, typically usedwhen describing business development as an operational function to support theselling function of a company. The Association of Proposal Management

Professionals have produced the "Capture Management Lifecycle" that describes theprocess in three broad stages:

1. pre-bid phase2. bid phase3. post-bid phase

Small to medium-sized companies often do not establish procedures for businessdevelopment, instead relying on their existing contacts. Or people in such companiesmay assume that because they know people in high places that this will solve anybusiness-development problems and that somehow new financial transactions will

come to them. Such thinking can have significant ramifications if one cannot exploit
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those relationships, which very often[citation needed] remain personal or weak. Such asituation may result in no new sales in the pipeline.

[edit] Impact on Global Economy

Business Development professionals frequently have had earlier experience infinancial services, investment banking ormanagement consulting; although manyfind their route to this area by climbing the corporate ladder in functions such asoperations management or sales. Skillsets and experience for business-development specialists usually consist of a mixture of the following (depending onthe business requirements):

marketing legal strategy finance proposal management or capture management sales experience

The "pipeline" refers to flow of potential clients which a company has starteddeveloping. Business-development staff assign to each potential client in the pipelinea percent chance of success, with projected sales-volumes attached. Planners canuse the weighted average of all the potential clients in the pipeline to project staffingto manage the new activity when finalized. Enterprises usually support pipelines withsome kind of CRM (customer relationship management) tool or CRM-database,either web-based (such as the salesforce.com software-as-a-service solution) or anin-house system. Sometimes business development specialists manage and analyzethe data to produce sales management information (MI). Such MI could include:

reasons for wins/losses progress of opportunities in relation to the sales process top performing sales people/sales channels sales of services/products

For larger and well-established companies, especially in technology-relatedindustries, the term "business development" often refers to setting up and managingstrategic relationships and alliances with other, third-party companies. In theseinstances the companies may leverage each others' expertise, technologies or other

intellectual property to expand their capacities for identifying, researching, analyzingand bringing to market new businesses and new products, business-developmentfocuses on implementation of the strategic business plan through equity financing,acquisition/divestiture of technologies, products, and companies, plus theestablishment of strategic partnerships where appropriate.

1. www.miti.gov.my/.../MITI%20Weekly%20Bulletin%20Volume%20137%2...
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Mili Tugasan Business Writing