When you are a small business or a brand new department in a larger company, you might start as one person who is responsible for winning government contracts. Often, participants in seed accelerator programs are experienced startup professionals who are accustomed to the assets provided by the seed accelerator come in the form of mentoring, funding and a strong network effect, but there are few or no internal resources, such as back office support functions, internal marketing or legal advisory experts or legal.
Marketing involves all activities such as planning and strategy, marketing research, pricing, advertising, branding, communication, customer service and other important functions, that finally make selling possible. The strongest objection to the separation of a sales force into hunters (new business development) and farmers (Account Management) is that it makes for an awkward transition for the customer after they have signed on the dotted line.
A bottom up approach is where the employees make suggestions and the best are passed up the management while the top down approach is where top managers create the business development strategies and implement them down the chain of command. Strategic budgeting process and financial plans for firm’s product development.
A Complete Business Development CRM System should be one which covers and track all activities of Marketing & Brand Building team, Sales team, Efforts of sales team members, Expenses of Sales personnel and derive Employee Profitability Index and above all, it must have a very deep drill down visualization of the data layer in the form of high-end Analytical Dashboards, for quick and correct decisions that is Business Intelligence.
The diversification strategy of a company can include several plans, ranging from the development of a new product to licensing of new technologies, or a combination of these plans. Momentum will come from continued efforts in the areas of marketing and sales but to ensure that its sustainable the business must be able to to fulfil demand.