Market Cultivation Strategy

Abstract

The market cultivation strategy is at the heart of Business Development. This is because apart from the actual development of new products and services in Business Development, it is all about improving existing products, repositioning them on the market (or in new markets), or optimizing existing business models and new ones Adapt conditions to increase overall product success. There are various parameters that Business Development can work on to boost product sales. An important point is the price model. It must be adapted to the requirements of the customer and at the same time adjusted in such a way that a maximum return can be achieved. On the one hand, the sales concept can be used to optimize the message to customers and, on the other, to address a broader or even an international market through the integration of new sales channels. To support their own sales, partners who also sell their own products can also be brought on board. The products can simply be resold or refined with additional products or services. Here too, Business Development can increase sales with a targeted partner strategy. The marketing strategy is rounded off by targeted marketing, which helps translate the product information into incentives to buy and position the sales messages in a wide range of channels. In addition, Business Development can also support sales enablements. Especially in the beginning, after a product change or after the introduction of a new product, employees from Business Development accompany the sales staff in concrete customer situations. The aim of the market cultivation strategy is to position the product optimally with a market-driven pricing model, in a well-defined market, via well-defined and controlled sales and marketing channels. The individual concepts are presented below.