New Business Development (NBD)
New business development is neither selling nor marketing, it is, in fact, a combination of analytical preparation of potential growth opportunities and the support and monitoring of its implementation in order to produce long-term value for an organization from customers, markets, and relationships.
The NBD process starts with the identification of a genuine need for a product or a service in any given market & the extent a business is prepared to address that need based on available resources and its ROI expectations. The NBD consultants transform projects into feasible ventures through constant monitoring of potential growth opportunities & their implementation. In short, the NBD’s are the rainmakers, not the meteorologists.
An idea central to new business development is that different product-market- technology combinations can require different marketing strategies and business models to make them a success (Tidd et al., 2005)
International New Business Development (INDB)
Exchange of goods over great distances otherwise known as global trade dates back to as early as Stone Ages in Europe according to some anthropologists. That being said, international trade has evolved tremendously in recent years as a result of rapid advancements in transportation & communication industries. The vast availability of trade data & statistics has literary eliminated the need for physical presence in order to conduct preliminary EF studies. Same holds true for marketing, prospecting or even establishing B2C sales channels from thousands of miles away thanks to modern e-commerce and the ever-growing courier infrastructure. Development 350 (D350) aims to assist manufacturers to expand their client base globally utilizing simple yet effective INBD solutions as outlined hereunder.
D350 Scope of Operation:
Collecting market data: feasibility studies such as competitors, market price, product/market lifespan, future of the product…
Data Mining/ Data Analysis: INBD is impossible without proper data analysis requiring a special set of skills in seeking and validating the data-pool, sorting, aggregation and mapping it out to get the big picture and finally running projection to see where it is headed to at current rate.
Low-cost smart branding & guerrilla marketing as required in B2B operations via SEO optimization and Professional Social Networking.
Setting up and attending international exhibitions; sometimes a 10 minute face-to-face meeting is worth 6 months of email communication.
Monitoring political and financial fluctuations in target markets from a diverse range of data pools.
Initiating and maintaining transparent relationships with an extensive client/ supplier base and agents.
Preparing offers, presentations, price-lists, and product data to train and educate the customer. Making offers and following up persistently to receive the order.
Salesforce recruitment & training – Canned, Adaptive & Consultative methods