FacilitiesDeveloping new facilities or locations such as an IT company that develops its own data centers. Business capabilities that represent a competitive advantage. For example, a mutual fund company that develops an algorithm that estimates inherent risk to reduce risk to their assets under management.
ProductsDeveloping new products and services. Customer experience such as a budget airline that develops customer lounges as a step towards becoming a full service airline.target markets. For example, a movie theatre that begins renting its facilities for private parties on slow nights. Distribution is your ability to reach customers. For example, developing new regions or channels.business development is heavily associated with sales efforts to identify and develop new sources of opportunities. For example, a software sales team that currently sells to large firms begins to target mid-sized firms. fast moving consumer goods company that sponsors a sports team.brands and brand extensions.culture and management structures that are necessary to support aggressive experimentation and creative processes in areas such as product development.
|Overview: Business Development Strategy|
A plan to grow your business in a new strategic direction.