Know the Business Development Profession and Its Responsibilities

Do you often find job vacancies for Business Development (BD) positions? But still unfamiliar with the meaning and work responsibilities? Come on, this time we will discuss what Business Development is and what is the role of a BD in a company.

Business Development is the process of creating long-term corporate value that connects customers, markets, and relationships. BD plays a role in creating opportunities for the company to continue to grow by optimizing three factors: customers, markets and relationships.

The value built can be in the form of revenue, company image, logo awareness or whatever is the goal of a company. The challenge is that a BD must be able to identify opportunities and make breakthroughs that will benefit the company in the long term.
There are three factors that BD holds in making strategy
Customer

Without customers, no business will thrive. A BD must be able to read what problems are being experienced by customers, what they need, what value they are looking for.

It could be that customers are very considerate of packaging when buying, or are more concerned with the quality of the goods. This must be identified by a BD so that it can then answer the changing needs of customers.

Market

A product must have its own market goals, but these targets are dynamic. A BD has a duty to find new target markets and adjust their products to be accepted in that market.

Consumer behavior can be formed based on geographic location, demographics and psychographics. For example, the Javanese people, especially Yogyakarta and Solo, like sweet-tasting food because of the large supply of sugar in Java during the colonial period. This can be seen by BD as an opportunity to develop sweet-tasting food products to target customers in Central Java, Yogyakarta and East Java.

Relation

Companies must be able to build good relationships between customers, clients, business associates, and investors. Without a relationship a business will not be able to develop and tend not to last long.

BD is here to help build trust, image and mutually beneficial relationships. The goal is that the company's relationships can run in the long term and sustainable.
Duties of a Business Development

How? Are you familiar with Business Development? Now it's time to discuss the duties a BD performs in a company.

Monitor market developments

A BD is in charge of monitoring developments and existing market competition. So that he can see prospects for developing new product development strategies, customers and partnerships.
Research to determine target market

BD is also responsible for clearly defining the new target market before adapting it to the product to be developed. This is so that the products made can be right on target and become a solution to customer problems.

Understanding the company's products

BD is also required to understand the entire product/product knowledge of the company, complete with its advantages, features, raw materials and processes.
Coordinate with other divisions to develop products

Of course a BD also needs other divisions to support its performance. Starting from Sales, Marketing to Account Manager.

Develop and present business development strategies

BD is also in charge of designing various strategies related to business development. Such as strategies to increase customer loyalty, find new customers, partnership strategies, sales to monitor performance indicators. Therefore, BD must have the ability to present, sell, and make agreements regarding the strategies that have been prepared.

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