Business Development Depends on Market Planning

Posted on 20. Oct, 2008 by in business development

Marketing and communications are often considered as an afterthought, or a secondary component of business development.

“Build it, and they will come. (And, if they don’t come, then we’ll invest in market planning.)”

But, the success of any business development plan, be it a product launch, a company launch or a financing solicitation, depends on the quality of the market planning. It defines your business in the overall market. And it bases that definition on profitable characteristics, like value, trust, sustainability, total cost of ownership, etc. Without these characteristics, your business is reduced to price, operational efficiency, and investor return. These qualities are important, but the competition is unbeatable. Every company can attain them, from dog food distributors to semiconductor manufacturers.

So, in your business development plan, what do you want to be known for?

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