The best product and service cannot succeed if it is not hitting the market at the right place and at the right time. And even after a successful launch, further market segment, further distribution channels, further use cases and scenarios need to be developed to ensure continuing success.
Whilst sales and marketing strategies and teams are set up early in every product or company life cycle, business development gets into focus at later, sometimes at a too late point in time. Classically, business development covers the following aspects:
- Business Planning – business case development for new products, services and business units
- Market Entry – introducing your products and services to new markets and applying to new use cases
- Partners & Alliances – identification, negotiation and management of distribution channels and partnerships
Business development is always tightly interacting with sales and marketing departments. Other than these, business development is much less focused on dedicated markets, target groups and segments. It is rather about scanning a much wider horizon for new opportunities and scouting for new ideas. TRADUM is closely working with a cloud of business development professionals around the globe, granting access to relevant companies and markets.