From the course: Business Development Foundations
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How business development is unique from other functions
From the course: Business Development Foundations
How business development is unique from other functions
- Lots of people use business development interchangeably with sales, alliances, and strategic planning. Most often, sales is the one that's confused with business development. This is more frequent when selling is consultative, meaning that the salesperson has to spend a lot of time customizing the pitch and maybe even the product bundle. After all, business development is about undefined and new growth opportunities. And isn't every meeting with a new customer actually about an undefined opportunity? Here's the difference between sales and business development. Even if there is some consultation, the scope of the salesperson's role stays constant. The products, customization, and services they can offer are fixed, and the compensation plan is predefined. For example, Adobe Acrobat, a leading PDF solution, work deals with most, if not all, of the major PC manufacturers to provide an option to purchase Acrobat when…
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