BizBites by Ethique Advisory

Let’s take a fresh look at the two functions and their roles in an organization. Marketing: The go-to-market strategy decider. A company creates products or services to fulfill demand(s). The end consumer will know of it only once availability is communicated and how it addresses a specific need – implicit or explicit.  Business Development (BD) is the team that front-ends the Customer. They bring in ideas for new products, competitor intelligence, and needs in the market that the organization may be well equipped to address with new and unique products or services. They are the face of the company.  The two teams need to work in unison to amplify the messaging and for consumers to see the offering in the right light. It is critical for creating the personality of the offering in question- the positioning, needs it addresses, whom it’s meant for and what sets it apart from the rest. The BD team knows the Customer better, and the marketing Team knows the messaging better. The t...

Running a specialized business offers you a niche in the market. The very nature of business requires you to identify your Unique Selling Proposition (USP) and focus all your communication efforts on the USP, giving you high visibility among your target audience. Like all good things, it comes with its share of highs and lows. Some of the challenges rear their head in terms of the need for expansion, product or service diversification, competition, etc. Unlike a business offering a traditional range of products/services, this can pose many constraints and complexities in the case of a specialized product or service company. To consistently achieve long-term growth, offering products/services that evolve with time to stay relevant is the goal for every company. Why should you be different? Without growth, there are no opportunities for staff to grow and develop and less reason for talent to stick around, seriously impacting retention. So, let’s take a minute to understand the possible h...