A SUMMER TRAINING PROJECT REPORT
“ TRAINING IN BUSINESS DEVLOPMENT”
NIVESH GLOBAL Pvt. Ltd.
SUBMITTED IN PARTIAL FULFILLMENT OF REQUIRMENT FOR THE AWARD OF
BACHELOR OF BUSINESS ADMINISTRATION
SESSION – (2018-2021)
SUBMITTED TO: SUBMITTED BY:
Ms. Nishi Sangwan Rahul Kumar
HOD. MANAGEMENT DEPARTMENT ROLL NO.-8085574
ASSISTANT PROFESSOR BBA 5th
SCHOOL OF ENGINEERING & TECHNOLOGY A UNIT OF GANGA TECHNICAL
CAMPUS , SOLDHA AFFILIATED BY MAHARSHI DAYANAND UNIVERSITY, ROHTAK
I RAHUL KUMAR hereby declare that the project report on Comprehensive study in BUSSINES DEVLOPMENT”
in NIVESH GLOBAL Pvt. Ltd. submitted for the BBA (BACHELOR OF BUSINESS ADMINISTRATION) through the
School of Engineering, Ganga Technical Campus, and it has not been submitted to any other university or
institution for the award of any degree or diploma in any other university.
It is said, the most important single word is we and the zero important single word is I. This true even in
today’s modern era. It is absolutely impossible for a single individual to complete the assigned job without
help and assistance fromothers.
It is my greatest pleasure to acknowledge sincere gratitude towards Ms.NISHI SANGWAN who guides me on
every step in my project on Comprehensive study on BUSSINES DEVLOPMENT”in NIVESH GLOBAL PVT. LTD.
for the completion of the project work.
I am thankful to all of my friends and batch mates for their help in completing this project work. Finally, I am
thankful to my entire family members for their great support and encouragement.
It issaid thatwithouttheory,practice isblindandwithoutpractice theoryismeaningless.
Hence practical traininghasbeenmade integral partof the managementeducationinIndia.The summer
trainingprogrammersare designedtogive amanagerthe future of the corporate happeningsandwork
It exposesthe potential of the managerof the future tothe actual tune of the workingenvironmentpresent
Personnel managementisthatpart of managementconcernedwiththe people atworkandwiththeir
Trainingisthe processof increasingthe knowledgeandskill fordoingaparticularjob.Itis an organized
procedure bywhichpeople learnknowledgeandskill foradefinite purpose.The purposeof trainingis
basicallytobridge the gapbetweenjobrequirementsandpresentcompetencyof anemployee.
I am fortunate projectItriedto findoutthe workingmethodsandtechniques,whichisenoughtogetthe
Real Estate in India
The real estate in India has come along a way by becoming one of the fastest growing markets in the world. It
is not only successfully attracting domestic real estate developers, but foreign investors as well. The growth of
the industry is attributed mainly to a large population base rising income level, and rapid urbanization. The
sector comprises of four sub-sectors-housing retail, hospitality, and commercial. While housing contributes to
five-six percent of the country’s gross domestic product (GDP), the remaining three sub-sectors are also
growing at a rapid pace, meeting the increasing infrastructural needs. The real estate sector has transformed
from being unorganized to a dynamic and organized sector over the past decade. Government policies have
been instrumental in providing support after recognizing the need for infrastructure development in order to
ensure better standard of living for its citizens. In addition to this, adequate infrastructure forms a prerequisite
for sustaining the long-term growth momentum of the economy.
Market size/Growth Prospects
The total revenue of the real estate sector was US$ 66.8 billion during 2010-11.By 2020, the sector is expected
to earn a revenue of US$ 180 billion. In fact, the demand is to grow at a compound annual growth rate (CAGR)
of 19 percent between 2010 and 2014, with tier I metropolitan cities projected to account for about 40
percent of this. Growing infrastructure requirements from sectors such education, healthcare and tourism are
providing numerous opportunities in the sector. Further, India is going to produce an estimated two million
new graduates from various Indian universities during this year, creating demand for 100 million square feet
of office and industrial space. In addition, presence of the large number of Fortune 500 and other reputed
companies will attract more companies to initiate their operational bases in India thus; creating more demand
for corporate space.
India’s rank 20th in the list of the world’s top real estate investment with investment volume of US$ 3.4 billion
in 2012, according to the latest report titled ‘International Investment Atlas’ by Cushman & Wakefield. The
sector is set for robust inflows of US$ 4-5 billion from overseas investors in the next couple of years, a global
real estate consultancy giant.
Construction development sector (including township, housing, built-up, infrastructure & construction
development projects) has attached a cumulative foreign direct investment (FDI) worth US$ 22,007.67 million
from April 2000 to February 2013. FDI flows into the construction sector for the period April-February 2012-13
stood at US$ 1,260 million, according to the development of industrial policy and promotion (DIPP).
Bengaluru witnessed the highest number and value of private equity investments at RS. 32.5 billion (US$
585.57 million) in 2012, recording more than double of investment over last year, followed by Mumbai with
RS. 13 billion (US$ 234.17 million) and National Capital Global (NCR) with RS. 7 billion (US$ 126.09 million) of
India needs to invest US$ 1.2 trillion over the next 20 years to modernize urban infrastructure and keep pace
with growing urbanization, as per report released by McKinsey Global Institute (MGI)-India’s urban awakening.
Some of the major investments in India real estate sector are:
In October 2020, Brookfield Asset Management made massive investments in India through a US$ 2
billion real estate deal. Brookfield will buy 12.5 million square feet of commercial real estate from
privately held developer RMZ Corp. The purchase includes rent-yielding office space and commercial co-
In October 2020, Rajasthan-based realty developer, Bhumika group, announced its plans to invest RS.
450 CRORE (US$ 60.81 million) in two residential and one retail project in Udaipur, Alwar and Jaipur,
In October2020, Australia’s REA Group Ltd. Announced its agreement to acquire a controlling interest in
Elara technologies Pte Ltd., the owner of housing.com, proptigher.com and makaan.com.
According to property consultant, Anarock, India is likely to have 100 new malls by 2020.of this number,
69 malls in will be built in the top seven metropolis and the remaining 31 malls will be in the tier 2 & 3
In March 2020, the government approved proposals from TCS and DLF to set up SEZs for IT sectors in
Haryana and Uttar Pradesh.
Blackstone crossed US$ 12 billion investment milestone in India.
In October 2020, the ministry of housing and urban affairs (MoHUA) has launched an affordable rental
housing complex portal
On October 27, 2020, the government announced the application of real estate (regulation &
development) act, 2016 in the union territory of Jammu &Kashmir. This has paved the way for any Indian
citizen to buy non-agricultural land and property, as opposed to the eligibilityof only local residents earlier.
In order to receive around 1,600 stalledhousing projects across top cities in the country, the union cabinet
has approved the setting up of rs. 25,000 crore (US$ 3.58 billion) alternative investment fund (AIF).
Under pradhan mantra AwasYojana (urban) (PMAY(U)), 1.12 crore houses have sanctioned in urban areas,
creating 1.20 crore jobs.
Government has created an affordable housing fund (AHF) in the national housing bank (NHB) with an
initial corpus of rs. 10,000 crore (US$ 1.43 billion) using priority sector lending short fall of banks/financial
institutions of micro financing of the HFCs.
On July 31, 2020, India formally approved 423SEZs, of which 248 were already in operation. Most special
economic zones (SEZs) are in the IT/BPM sector.
The real industry in India is yet in a promising stage. The sector happens to be second largest employer after
agriculture and is expected to grow at the rate of 30 percent over the next decade. A growing migrant
population due increasing job opportunities, together with healthy infrastructure development, is
underpinning demand in the region’s residential real estate market.
The kalpataru spokesperson feels that finance ministry’s motivation through softening of interest rates and
leading more to real estate sector will have a positive impact on both developers and consumers. The real
estate market could start to perform better as the easing of FDI norms will begin to show results during the
second half of the year, according to Lalit Kumar Jain, Chairman &Managing Director, Kumar Urban
Development Ltd and President national – CREDAL. “The economy will also be recovered in 2013 which in turn
will perk up the real estate sector in India. With the government trying to introduce developer and buyer
friendly policies, the outlook for real estate in 2013 does look promising,” said MR. Lalit Kumar Jain.
Nivesh Global private limited is a private incorporated on 22 April 2015. It is classified as non-govtCompany
and is registered at registrar of companies, Delhi. Its authorized share capital is Rs. 100,000. It’s involved in
real estate activities with own leased property. This class buying, selling , renting and operating of self-owned
or leased real estate such as apartment building and dwellings, non-residential buildings, developing and
subdividing real estate into lots etc. also included are development and sale of land and cemetery lots,
operating of apartment hotels and residential mobile home sites.
At Nivesh global, we build ‘Trust’. By dint of sheer hard work and commitment, we have earned this trust in
our journey of last 10 years. We understand the value of collaborative approach, and ensure our solutions are
based around this. At the core, deeply engrained is our value systemthat puts ‘People First’. No wonder, a
profound sense of community drives bulk of our initiatives.
Spending time in understanding your requirements and seeing to it that they are delivered has been our
mantra. We work with a smile on our faces, striving to put a smile on your as face as well. What makes this
possible is our corporate culture driven by integrity, performance, and passion. Success is not achieved by
leaps and bounds; it is earned through those baby-steps, taken with you by our side. Today, at 100 core in
revenue and a 2000 member family – we at Nivesh Global are committed to create a unique combination of
‘Wealth & Value’ for you.
Our Services – Achieving excellence through persistence
Real Estate Research
At Nivesh Global, we provide an in-depth market analysis report to our customers through primary and
secondary research conducted by our best in class professionals. The market analysis is done through
our best driven approach to give you the best possible outcomes. We thrives our best to make our
investors understand this complex asset class mostly characterized by opacity, heterogeneity and
lumpiness. To better understand how real assets performs we put out the data in a most logical way
with all informed risk related factors to create a better understanding of our approach before they
make their investment decisions.
Real Estate Marketing
We have created a niche for ourselves in the market through right kind of marketing mix. Our knack of
exploring new accounts with the help of customized data-led creativity, automated optimization,
performance marketing, and digital transparency has led us to create a ripple in the market. Our
marketing professionals use these customers – centric approach not just to close the sales but to build
a long lasting relationship with our clients.
We are also help clients in managing the entire real estate portfolio with an objective of preserving and
increasing value of their investment professionals through interactive charts and dashboards to
improve your chances for a better return.
Real Estate Consulting
We are not just a team of real estate consultants but we take pride in calling ourselves as a subject
matter expert in real estate who can help you with our sound expertise to turn your critical and
complex real estate issues into opportunities for growth. We offer you the experience, know-how
expertise and the strategies in making the value of your investment.
Real Estate Funding
As an expert in providing real estate fund management, our funding services in Delhi-NCR offers a wide
range of impeccable solutions for investors and borrowers both to capitalize on the opportunity. We
choose our investment prudently and proactively by conducting extensive research to offer easy and
quick access to our investors and borrowers.
Real Estate Legal Framework and Compliance
Our legal advisory team understands this real estate framework and compliance from a microscopic
level and advises our clients from this multifaceted perspective ranging from conveyance,
documentation of all types and registration works, viz., legal opinions title verification, Sale Deeds,
Mortgage Deeds, Partition Deeds, Lease Deeds, Sale Agreements, Memorandums and Agreements for
all Purposes, Bipartite Cum Tripartite Agreements.
Success is an inclusive idea. With humility, we extend our gratitude to society at large, through our foundation
Meghrajrathore is registered with ministry of corporate affairs (MCA).
VISHNU KUMAR RAKIWAR
Vishnu Kumar Rakia is registered with ministry of corporate affairs (MCA).
The company’s ability is to meet the special requirements of the real estate market and clients demand from
its strong foundations of professionalism. The group’s strength lies in its panel of dynamic, young, qualified
and highly experienced management and dedicated marketing professionals that take care of the entire
activities keeping its main trust on customer satisfaction, which is the main motive of the company.
NG also has a dedicated customer care center that comprises of experienced executives. A vast database of
customers is maintained and customers can call them up for inquiries, complaints& feedbacks. Our staff is
always engaged towards meeting the demands of the industry.
WE BELIEVE IN THE POWER OF ACTIVE MANAGEMENT – Expertly delivered for your long-term and short-term
goals, mindful of your risk constraints and committed to your needs, as financial advisors, professional fund
selector and consultants.
We make an effort to keep family happy.
CUTOMER CENTRIC ATTITUDE
Our foundation ensures that operations are complaint free with maximum number of customer’s satisfaction
through resolving issues of customers with the fastest services.
We are an established project development & management company and fund management group that seeks
to add value for our clients through the delivery of out-performance over medium to long term.
INNOVATION THROUGH TECHNOLOGY
1. Primary source
Group discussion and brainstorming session
Interaction with sales staff on NIVESH GLOBAL.
2. Secondary source.
Objective of the study:
→To get an empirical view of NIVESH GLOBAL.
→To study the procedure of customer complaint in NIVESH GLOBAL.
→To get an insight of all the competitors.
→To study the various products offered.
→To study the customer preference and perception regarding NIVESH GLOBAL.
Scope of the study:
The objective of the project was to find out the prospective buyer of NIVESH GLOBAL and also to provide key
information about the buyer’s reception and preference. The study also helps in getting information about the
performance of the company as well as their own investment centre or where people go for NIVESH GLOBAL.
It helps in finding out the problem related to buyers.
Managerial usefulness of study:
The study highlights the problem related to distribution of NIVESH GLOBAL so that the company can improve
the service rendered by them as a distributor. The study gives information about prospective buyers both
individual as well as institutional clients. The study provides the complete information about all close
competitors of NIVESH GLOBAL. It provides the feedback form customers regarding their problem and their
perception about investing in NIVESH GLOBAL so that the company can improve their services.
This report is based on primary as well as secondary data over primary data collection was given more
important since it is overhearing factor in attitude studies. One of the most important user of research
methodology is that it help in identifying the problem, collecting, analyzing the required information data and
provide an alter native solution to the problem. It also helps in collecting the viral information that is required
by the top management to assist themfor the better decision making both day-to-day decision and critical
(A) Primary data
Primary data are those, which were collected a fresh and for the first time and does happen to be original
in character. However, there are many method of collecting the primary data. All have not been used for
the purpose of this project. The ones that have been used are:
• Face to face communication (interviewing).
(B) Secondary data
When an investigator use the data that has been already collected by other is called secondary data. The
secondary data could be collected from the general report and various publications. The advantage of
secondary data can be economical, both in terms of money and time spent. In this report secondary data
was collected through:
• Company balance sheet.
• Report and record.
• Flow chart and tables.
Primary data was collected through questionnaire
Sample : 120
Sample area : New Delhi
Sample method : Random sampling methods
(A) Sampling procedure:
The sample was selected of them who are the customer/visitors of niveshglobal. It was also collected
through personal visit to persons, buy formal and informal talks and through filling up the
questionnaire prepared. The data has been analysed by using mathematical/statistical tool.
(B) Sample size:
The sample size of my project is limited to 20 people only. Out of which only 10 people had invested in
talk. Other 10 people did not have invested in NIVESH GLOBAL.
(C) Sample design:
Data has been presented with the help of bar graph, pie chart, line graph etc. The following are the
questionnaire that was been carried out all the time of survey. The questionnaire also shows the value
of perception of customer to word NIVESH GLOBAL.
1. Satisfied customer of NIVESH GLOBAL
2. Perception about the brand name
3. Buying behaviour of customer to NIVESH GLOBAL
4. Preference of customer to NIVESH GLOBAL
5. Reason to prefer NIVESH GLOBAL
6. Awareness of the brand name in market
1. Suggestion is based on the given information.
2. Due to large number of employee it was not possible to collect all the information from each.
3. The time period is limited to know the entire process. We cannot draw effective conclusion as it is
continuous us process.
4. The area of survey was limited to some particular areas.
Scope of the study:
Extensive survey on customer preference will provide lot of valuable information about the brand awareness
of the product and it will be easy to find out the like and dislike about the product.
For company, it will provide through knowledge about the customer preference in comparison with other
market product and suggest valuable direction of the current market Trend.
It will provide lot of information about the market Trend and customer preference about the product.
It will include valuable suggestion for the company, how the company can strength their on brand?
The study of customer preference will provide me lot of information on:
How customer profiles differ across the user segments?
Dopes the different classes of the customers different their preferences?
My study includes an extensive survey over hundred customers who normally use the services. The companies
Marketing – promotion strategy
Promotion is the method you use to spread the word about the product or services to customers,
stakeholders and the broader public. Once you have identified your target market you will have leave a good
idea of the best way to reach them, but most businesses use a mix of advertising, personal selling, referral,
selling, sales promotion and public relations to promote their product or services.
3. Sales promotion
4. Public relations
Sale & Marketing Promotion Strategy of Nivesh global
Creating a sales and marketing promotion strategy requires a through knowledge of your company’s products,
competition and overall mission. Sales and marketing promotions strategists must first be able to identify
which segment of the general public might be interested in purchasing products. For in6, targeting core man
penciling Barbie dolls likely wouldn't yelled positive results. Sales and marketing promotions strategies also
must be creative in promoting their products.
Marketing a product goes beyond just the vision aspect of age group and gender. Strategies have to factor in
life styles, income and location, as well as what is trendy. They conducted research and polls to discover what
the public like about their products, or what the public would do differently. They also need to find out way
people are choosing not to buy their products.
A good sales and marketing promotions strategy involves a sure-fire method to reach its audience. This
involves designing graphics to creative catchy jingles for advertising. Sales and marketing strategies push their
products and services from a different venues, such as broadcast and print advertising, billboards, and email
newsletters. Other from promotions includes offer discounts on product or rewards for purchasing a certain
degree of services.
Sales and marketing promotions strategies focus must focus heavily on what the competition is doing, and
how it goes about promotion its on product. Strategies have to ask if what the competition is doing is
successfully, and if so why. They also need to be aware that they can infect learn a lot from the competition
and if necessary, children competitions ideas and make its their own much like Coke and Pepsi, or burger King
and McDonald’s, all do on a regular basis.
When it come to making a purchase, the first thing a customer typically observed in the cost. It's up to sale
and marketing promotions strategies to figure out how much a customer is willing to pay for a product,
factoring in how much it cost to manufacture the product. There is also the location factor, where prices for
the same product might need to vary by region.
Supply and demand
Along with knowing the many factors of purchasing products and services, sales and marketing promotion
strategies keep track of inventory, making sure that are enough item available to meet by a demand. If
another company is manufacturing the product, they have to make sure order and place and that products
arrive in good condition. Where and how the store or display item may be another consideration.
How to designa sales promotionstrategy
For a sales promotion strategy to be successfully there need to be a plan in place. When you design a sales
promotion strategy, you need it to make sure that the company is getting the best return on investment and
good marketing exposure in exchange for the promotional part of the strategy. If a company is using a buy
one, get one free promotional strategy, then their needs to be sufficient return for the item that will be given
for free to make sales promotion a success.
Researching sales representatives
Determine if you want the sales promotion to be a short-term or long-term promotional. For a product just
being introduced, you will want to use a long-term promotion to help establish the product in the sale
representative minds. A product that is at the end of life would be short term promotion as you are trying to
get old product of shelves.
Create a space based promotion for your product that will entire sale representatives to want to push your
product will stop the space can be done on a per unit basis where every unit sold get a bonus, or you can
create a space based on volume where the bonus is not paid until the certain value of sales is read.
Develop a registration systemthat will require sales representatives to sign up to be part of the sales
promotion. Registration will not only track sales value for each representatives, if it can also be used as a
contact database for future sales promotion involving sales representatives.
Create marketing materials that outline the complete program to sales representatives, gives registration
information and of a sales pitch information that representative scan used when trying to sell out your
Stay in touch with registered sales representative with weekly sales pitch information updates and updates on
how its representative is performing in the promotions. This will helps to talk the competitive fire among the
sale representative and drive revenue.
Promoting to retail customers
Focus your promotion on one product, or one family of products. It you make the promotion to broad then
retail customers may get confused and not participate. If the promotion works for one product, then you can
replace it for other product as well.
Determine which kind of retail sales promotion strategy you want to use full stop some of the popular retail
promotions are buy one get one free as well as free sample, by a product and get a free accessories or a Mail
Create a comprehensive set of rule for the promotion and include those rules on all of the promotional
material. Work with your company legal department to ensure that the rules of your promotion are complete
Develop a website where customer can register to receive promotional reward and find out more information
about the product and company. Ask customer to give their email address for future promotions. Designate a
toll free phone number where customer can call and ask for more information on the promotion.
Create a retail display that gives all the offer detail of the promotion to be placed in all of your retail outlets.
The impact of advertising &sales promotioninrevenue
While the two terms are often used interchangeably advertising and sales promotion designate different parts
of a business marketing strategy. Advertising has to do with bundling brand reorganization and taking
measure to build long-term profitability. Where as sales promotion are short-term strategies that infuses
immediate revenue into a business by directly affecting the price of goods or services will stop while both can
potentially affect revenue, sales promotions have a direct connection to the amount of money for businesses
Advertising can help your business to increase its value and build its reputation. This can happen in two ways
are there for the purchase of advertising space in magazines, newspapers, social media or other outlets, or
throw editorial coverage, editorial coverage is the aim of many small businesses will stop it cost you virtually
nothing and can have long-lasting impact on building your farms reputation is initially this is about generating
public relations. Make contacts with your local newspaper, community organizations and social clubs. Take
part in promoting non-profit events or sponsors a little legal team. All of these are ways to get your business
name out in the public without spending money directly on advertising.
Apart from this more traditional means for increase brand value your business should also be concerned with
its brand reputation. A solid brand reputation will directly affected revenue as customer will feel safe and
secure in purchasing goods and services from your company. Reputation manage it is about understanding
their influence of customer perception on your business revenue prospects. The Idea hair is tremendous
customer expectations to respond quickly to problem or issue and to always conduct your business in an
ethical way. This concern with reputation should extend through all forms of marketing and advertising and
your approach to customer service.
Sales promotions are meant to directly drive revenue. There are many way to go about sales promotion, all of
them to do with communicating and adding value or incentive to your consumers. For example, you can offer
a free trial of a product or services, issue coupons, offer rebates, or hold contest for free goods. All of this
methods aim to get customer in your business to spend money.
Bring it together
As you might have guessed, marketing, advertising and sales promotion to do not exit in isolation businesses
read a good mix of all this method to encourage both short and long-term revenue and growth. The goal is to
keep your business is profitable and to keep a good reputation in the community and among your current and
potential customers will stop by balancing value increasing activities with the direct investment in advertising
and sales promotion for businesses can purpose.
Direct sales Vs. Promotion
Direct sale and sales promotion are two major component of the promotional of marketing. The marketing
mix outline four critical strategy marketing element –product , place ,price and promotion. When marketing a
product, sold through specific distribution channels and at certain price, various strategy such as advertising,
direct sales and promotion are common.
Direct Sales Basics
Direct sales involves person-to-person selling in which a company salesperson communicates the benefits of
product and services to prospective customer. This can happen in business-to business, trade channel or
consumer markets. Direct sales is a more assertive marketing approach in which companies use salesperson to
personally present persuasive message to customer, listen to their feedback and concern, and attempt to
close the deal by responding effectively to those concern.
Pros and Cons
Direct selling is more personalized and engaging than other type of marketing. Salespeople personal interact
with customer face-to-face, whereas with traditional advertising messaging are delivered through media with
the hope of a consumer response, to build effectiveness long-term relationship with key customer. Cost of
employing salespeople and the potential alienation of customer drive away by high pressure selling tactics are
Sales promotion is a form of advertising that focus on short-term sales investment.Sales promotion and
customers with price discount or other price oriented benefits. This separate promotions from band brand
building advertising that focus on the long term question sales promotion centre on the price side of the value
equation which main consumer receive value as a concept comparison of price and product benefits. Sales
promotions suggest a good value because of reduced reduced price point but constant benefits.
Tactics and Goals
Coupon, of price discount, rebates and recent of sales are among common sales promotion technique.
Companies use sales promotion for a variety of reasons. New companies use them to drive instance traffic.
Clearing out excess inventory is an other common intention. Additional e companies use sales promotion to
attract customers in hopes of also selling higher margin products. Generating immediate cash flow to cover
short term depth and expenses obligation in another common and important purpose of sales promotions.
Sales promotion advantages
A sales promotion is a marketing technique that is designed to entice a customer to take a specific action such
as making a purchase or request more information. sales promotion usually occurs for a limited period of time
helps create a sense of urgency. Example of sales promotion and include coupons free trial periods and
discount to name a few. Face promotion of para number of advantage to other owner of a small business.
Luring new customer with price
By offering a reduced price on a popular item you can deliver customer away from competitors. Which may
ultimately help them into shoppers. For example, if you own a small electronic store that’s competitive with
the retailer offer a discount price on a popular cell phone model for a limited time on stock. If you serve the
customer well during the purchase process they may be willing to be come back.
Gaming community favor
Create a good name for a business by standing a promotion that supports a worthy cause. For example, if you
your town need of new fire engine or police car donate a portion of customer purchase at your business to the
cause. You will be your community, which is a Win-Win for everything when male lead to more business for
Encourage repeat purchase
Business like airlines and hotels successfully used reward program to encourage customer loyalty and you can
do the same for your small business. If you’re on a coffee shop for instance give customer a reward card that
you hole- punch it time they may purchase. After the make fue for 10 purchase they can redeem the card for a
cup of coffee.
Entice reluctant consumers
giving away free product for services is a good way to get people to try them for a first time which may lead to
a purchase. if you're on a dial and you have added a new Sandwich to the menu pass out small samples to
each of your consumer as they come in the door. Session to get people to give you a try.
A sales promotion can help you providing information to potential customers that aids them in making a
decision. This can be beneficial for a products or services that are complicated for are and unfamiliar to
consumers. For example, if you are a financial planner and you are attempting to gain clients in the area of
retiring mint Pan link a free seminar allows you can explain what you do and how sum investment product
Objective of sales promotions
Sales promotion is a marketing technique usually design to last for relative short time. Common sales
promotion technique can include special pricing coupon and staging events to gain publicity. Small businesses
can make use of sales promotions to attack achieve a number of specific business objectives.
Keep exciting customers
Sales promotion can be grade 2 word keeping exciting customer specially if a new computer is opening
nearby. For example, a barber shop owner can Mel coupons to all of his existing customers to take attention
away from our competitors grand opening event. Dry cleaners could implement a refer program where he
gives exciting customer discount when they refer new customer to make purchase which can help build
Special promotion can help you clearing inventory to make room for seasonal or new merchandise. If you’re
on a clothing boutique for example you may need a to advertise a reduced price on winter clothing to make
room for spring and summer fashions. The owner of a gift shop can conduct a clearance sales on Halloween
merchandise to make a room of Christmas products.
Reaching new market
A promotion can be a way to reach a new segment of a market. For example, if you operate a bakery and you
are unwilling a new line of pastries you can generate a promotion to get people to come your bakery and try
them. Your promotion can offer a discount price for additional of 1 item such as a coupon of coffee.
New product launch
A sales promotion can help you introduce a new product to a market place. For example, if new operator
bakery and building a new line of fisheries you can generate a promotion to get people to come to your bakery
and try them. A promotion can offer a discount price or additional of free item sets coupon.
Increase brand awareness
Assess promotion can help increase awareness of brand which can ultimately lead to additional sales. For
example, by sponsoring a charity event that are charity because or Rafael you can make people in the
community aware of your company in a positive way which can lead a them increasing your business.
Business development entails tasks and processes to develop and implement growth opportunities within and
between organizations. It is a subset of the fields of business, commerce and organizational theory. Business
development is the creation of long-term value for an organization from customers, markets, and
relationships. Business development can be taken to mean any activity by either a small or large organization,
non-profit or for-profit enterprise which serves the purpose of ‘developing’ the business in some way.
In addition, business development activities can be done internally or externally by a business development
consultant. External business development can be facilitated through Planning Systems, which are put in place
by governments to help small businesses. In addition, reputation building has also proven to help facilitate
In practice, the term business development and its actor, the business developer, have evolved into many
usages and applications. Today, the applications of business development and the business developer or
marketer tasks across industries and countries, cover everything from IT-programmers, specialized engineers,
advanced marketing or key account management activities, and sales and relations development for current
and prospective customers. For this reason, it has been difficult to discern the unique features of the business
development function and whether these activities are a source of profits.
Recent systematic research on the subject has outlined the contours of an emerging business development
function with a unique role in the innovation management process. The business development function seems
to be more matured in high-tech, and especially the pharma and biotech industries.
Business development professionals frequently have had earlier experience in sales, financial services,
investment banking or management consulting, and delivery; although some find their route to this area by
climbing the corporate ladder in functions such as operations management. Skill sets and experience for
business-development specialists usually consist of a mixture of the following (depending on the business
• Mergers and acquisitions
• Strategic management
• Proposal management or capture management
Business development is to be thought of as a marketing tactic. The objectives include branding, expansion in
markets, new user acquisition, and awareness. However, the main function of business development is to
utilize partners in selling to the right customers. Creating opportunities for value to be ongoing in the long
term is important. To be successful in business development the partnership must be built on strong
The "pipeline" refers to the flow of potential clients which a company has started developing. Business
development staff assign to each potential client in the pipeline a percent chance of success, with projected
sales-volumes attached. Planners can use the weighted average of all the potential clients in the pipeline to
project staffing to manage the new activity when finalized. Enterprises usually support pipelines with some
kind of customer relationship management tool or database, either web-based solution or an in-house system.
Sometimes business development specialists manage and analyze the data to produce sales management
information. Such management of information could include:
• Reasons for wins/losses
• Progress of opportunities in relation to the sales process
• Top performing salespeople/sales channels
• Sales of services/products
For larger and well-established companies, especially in technology-related industries, the term "business
development" often refers to setting up and managing strategic relationships and alliances with other, third
party companies. In these instances, the companies may leverage each other's expertise, technologies or
other intellectual property to expand their capacities for identifying, researching, analyzing and bringing to
market new businesses and new products. Business development focuses on the implementation of the
strategic business plan through equity financing, acquisition/divestiture of technologies, products, and
companies, plus the establishment of strategic partnerships where appropriate.
Business Development is affected by external factors. "Planning Systems" are systems set in place in order to
regulate businesses. In many cases, ruling agencies deemthe necessary for business survival. There is a
section of Business that is dedicated to facilitating ethical business development in developing countries. In
the early 2000s, Business Ethics was dedicated to helping the Businesses in need that are in these countries.
However, owing to the strong backlash from critics, they have changed their focus into helping businesses that
are going to help the most people develop. These policies have improved the quality of life of the people.
However, this facilitation changes the norms and, in turn, harms some groups. In order to enforce the new
policies in an ethical manner Business Ethicists have created a cost-benefit analysis, placing an emphasis on
basic necessities. These concerns have become so great that Business Ethicists have created a new
department called Development Ethics. Now, instead of simply helping developing businesses, international
business developers have begun ensuring that the companies keep basic human rights in mind. This especially
applies to countries where the laws are not so strict and allow for abuse to take place. These development
policies now have to follow the criteria that Penz created, consisting of: security, empowerment, rights,
equity, integrity, and cultural freedom. The idea of providing people with human rights in order to facilitate
business development can be seen through the rapid development of China in the last few decades. The
policies that were implemented in the last couple decades coincide with these developments. In the 1980s,
government policies facilitated the rise in literacy rate and education. The following decade, healthcare
coverage increased significantly. This development was not originally seen as monetary capital, but instead, it
was seen as human capital. With more workers able to bring skill and maximum effort to their workplace,
companies were able to develop extremely rapidly.
With companies becoming more and more conscious of ethical practices, closely watching their selves to avoid
scrutiny, a company's reputation has become a great concern. Ethical business practices are closely tied with
reputation which makes it essential to follow ethical guidelines if a company is looking to build their
reputation. In fact, Businesses that develop quickly and successfully have tendencies to show honesty,
impartiality, and service to all of their stakeholders. In order for a company to be considered "ethical", it must
cater to the needs of the customer, keeping their best interest in mind. This will influence customers to make
repeated purchases and lead to more profit. In order for a company to build a strong reputation with their
suppliers, it is crucial for them to focus on impartial business interactions and developing long relationships.
These relationships can lead to mutually-beneficial business deals for both the company and its supplier. With
the employees, they must take their interests into consideration and facilitate teamwork as opposed to
rigorous competition. This ensures that the company will keep their most loyal and dedicated employees for
as long as possible. Funding for further development can rise when a company is able to develop strong
relationship with each stakeholder individually, and ethically. This is based on the concept of reciprocation,
which states how in order for social change to take place between groups of people, trust must be built
between them through mutually beneficial actions. This can be supported through the results of a
questionnaire study that was conducted on technology industries in GTSM and TSE. In addition, in order for a
company to practice business ethics, and ensure strong business development, it is essential to maintain a
positive relationship with the environment. With concerns about the recent decline of the environment
increasing, stakeholders have become more involved in efforts to preserve resources and a negative impact on
the environment brings about risks of damaging stakeholder relationships.
CHARACTERSTICS OF BUSINESS DEVELOPMENT
Business development is distinctly different than sales. Top business development professionals become a
trusted advisor to clients. This is the key to a long-term and strategic relationship that adds more value than
Companies have a higher expectation of business development. More than ever, this workforce isn’t just your
old run-of-the-mill tactical salesperson. Don’t get me wrong, there is a place for both. But, to be a successful
business developer, these individuals must possess additional skills. Clients require these deeper relationships
too. Business consumers have a lot of options. And, it’s easier for them to go to your competitor than to do
business with someone who doesn't quite cut it. Great business development professional are responsible for
the livelihood of the business. For a business to remain competitive, they not only need to bring a client to the
table once, but are tasked with providing enough ongoing value that clients stay for the long haul.
This is the modern conundrum of business development today. In 20 years serving the market research and
consulting communities, I have learned that to be successful I must continually expand my skills. I have found
that success in business development can be traced to eight attributes and behaviors:
1. Customer Obsession
You understand your client's business and products and services. Taking that a step further, you must
know their internal strategic initiatives and plans. Until you understand this, and can tailor your solution to
map to support them in these, you will never build a strategic, long-term relationship. No longer are the
days of having your product be one to many. If you do this, your offering will be one of many tactical
products that they could take or leave.
2. Emotionally Intelligent
To build a long-term relationship with key client executives, you must possess a high level of emotional
intelligence. What this means is understand cues outside of what is written and spoken that are big
indicators of creating a successful business relationship. Understand what motivates your client, about
people's egos and their underlying expectations as well as how these provide big clues into to how your
client will buy. When you can piece this together and apply this to the overall business landscape, you can
build a relationship that will keep a client for life.
3. Digitally relevant
So much of business today is done digitally. Your personal and company's online business presence, social
profiles and networks are crucial in business success. Research is conducted, due diligence is collected;
your company’s reputation is compared to your competition's. Potential clients aren't just looking at the
company that you represent; they count on you being digitally savvy. They need to have communication
about your products and services easily delivered to them digitally and in real time. They can reach you
when it's convenient for them through this open channel.
4. Domain Expertise
A true business development professional builds deep knowledge of the industry that they serve. This
industry and solution expertise allows you to be part of the solution, not just a purveyor of it. This unique
and inherit knowledge makes you valuable to the client.
Maintain honesty and integrity with the client no matter what the circumstances. Make sure they
understand that they know that they can count on you to be honest. You are your client's advocate, inside
your company and out. Don't ever give your client a reason to doubt anything that you say or do.
Believing in the company and solution, you represent. And, no matter what, you always have the best
interests of your client at hand. You don't give up, and you fight for them when needed. The overall
commitment in the relationship builds customers for life.
You have a positive outlook about business and life in general. Nobody likes to do business with someone
who is negative and a bummer to be around.
When the chips are down, you stick with the relationship. Everyone can push forward in good times and
when all is going perfectly as planned. But when it doesn’t go perfectly, you're ready to attack problems
head on. Business isn't always easy, but you're known for being there through thick and thin.
THE IMPORTANCE OF BUSINESS DEVELOPMENT
When it comes to organizational growth, business development acts as the thread that ties together all of a
company's functions or departments, helping a business expand and improve its sales, revenues, product
offerings, talent, customer service and brand awareness.
There are a number of key areas in which someone tasked with business development can help effect change
and promote growth across departments. Here are four reasons why business development is important.
It builds important relationships.
Whether cultivating new talent, networking with prospective partners or courting potential customers,
relationship-building is an integral piece of the business development process. A savvy business developer can
hone in on the relationships that demand the most attention. Connecting with clients, colleagues and other
members of one's network can be fundamental to identifying new business opportunities, generating leads
and making critical hires. And, strengthening existing relationships will help deliver repeat customers, or
provide an opportunity to hone and enhance talent from within.
It's a key strategy for boosting revenue and lowering costs. Growth is the end game of business
development, and one of the most common metrics for measuring that growth is the bottom line. Key to the
business development process is devising strategies to help increase the amount of money that's coming into
an organization, while making sure less money is going out. Focusing on business development can help an
organization identify which markets and products have the most profit potential, and which deals to chase
first. Business development also entails making decisions that help keep costs down as well as identify areas of
growth and the funding needed to facilitate such expansion.
It can help improve the company's overall image. Marketing is vital to a business' growth, and a business
developer can help an organization build a better brand. A business developer can work closely with the
marketing team to develop campaigns that solidify the company's target audience and reach new customers
and markets. A significant aspect of business development understands the inner workings of a company's
products and services, as well as its customers. Business development leaders can use these insights to help
inform new marketing campaigns that guide potential customers to products and services that could benefit
It may open up expansion into new markets. Tapping into new areas of opportunity could be a lucrative
growth strategy, and business development involves staying on top of market trends and opportunities. By
analyzing demographics and customer data, a business developer can find ways to enter these markets and
access new segments of customers.
BUSINESS OBJECTIVES OF A BUSINESS DEVELOPMENT
Five most important objectives of business may be classified are as follows:
1. ECONOMIC OBJECTIVES,
2. SOCIAL OBJECTIVES,
3. HUMAN OBJECTIVES,
4. NATIONAL OBJECTIVES,
5. GLOBAL OBJECTIVES.
Objectives represent the purpose for which an organization has been started. Objectives guide and govern the
actions and behavior of businessmen. According to William F. Glueck, “Objectives are those ends which the
organization seeks to achieve through its existence and operations.” Another term for objectives is goals.
Logically, objectives ought to specify ends or results sought that are derived from and congruent with the
mission the organization has set itself Attempts to set objectives should always be guided by references to the
mission they are meant to fulfill. Business objectives are something which a business organization wants to
achieve or accomplish over a specified period of time. These may be to earn profit for its growth and
development, to provide quality goods to its customers, to protect the environment, etc.
CLASSIFICATION OF OBJECTIVES OF BUSINESS
It is generally believed that a business has a single objective. That is, to make profit. But it cannot be the only
objective of business. While pursuing the objective of earning profit, business units do keep the interest of their
owners in view. However, any business unit cannot ignore the interests of its employees, customers, the
community, as well as the interests of society as a whole. For instance, no business can prosper in the long run
unless fair wages are paid to the employees and customer satisfactionis givendue importance. Again a business
unit can prosper only if it enjoys the support and goodwill of people in general. Business objectives also need to
be aimed at contributing to national goals and aspirations as well as towards international well-being. Thus, the
objectives of business may be classified as;
1. Economic Objectives:
Economic objectives of business refer to the objective of earning profit and also other objectives that are
necessary to be pursued to achieve the profit objective, which includes creation of customers, regular
innovations and best possible use of available resources.
(i). Profit Earning:
Profit is the lifeblood of business, without which no business can survive in a competitive market. In fact profit
making is the primary objective for which a business unit is brought into existence. Profits must be earned to
ensure the survival of business, its growth and expansion over time. Profits help businessmen not only to earn
their living but also to expand their business activities by reinvesting a part of the profits. In order to achieve
this primary objective, certain other objectives are also necessary to be pursued by business, which are as
(a)Creation of customers:
A business unit cannot survive unless there are customers to buy the products and services.Againabusinessman
can earn profits only when he/she provides quality goods and services at a reasonable price. For this it needs to
attract more customers for its existing as well as new products. This is achieved with the help of various
(b) Regular innovations:
Innovation means changes,which bring about improvement in products, process of production and distribution
of goods. Business units, through innovation, are able to reduce cost by adopting better methods of production
and also increase their sales by attracting more customers because of improved products. Reduction in cost and
increase in sales gives more profit to the businessmen. Use of power looms in place of handlooms, use of
tractors in place of hand implements in farms etc. are all the results of innovation.
(c) Best possible use of resources:
As we all know, to run any business we must have sufficient capital or funds. The amount of capital may be used
to buy machinery, raw materials, employ men and have cash to meet day-to-day expenses. Thus, business
activities require various resources like men, materials,money and machines. The availabilityof these resources
is usually limited. Thus, every business should try to make the best possible use of these resources. Employing
efficient workers, Making full use of machines and minimizing wastage of raw materials, can achieve this
B. Social Objectives:
Social objective are those objectives of business, which are desired to be achieved for the benefit of the society.
Since business operates in a society by utilizing its scarce resources, the society expects something in return for
its welfare. No activity of the business should be aimed at giving any kind of trouble to the society. If business
activities lead to socially harmful effects, there is bound to be public reaction against the business sooner or
later. Social objectives of business include production and supply of quality goods and services, adoption of fair
trade practices and contribution to the general welfare of society and provision of welfare amenities.
(i) Production and Supply of Quality Goods and Services:
Since the business utilizes the various resources of the society, the society expects to get quality goods and
services from the business he objective of business should be to produce better quality goods and supply them
at the right time and at a right price It is not desirable on the part of the businessman to supply adulterated or
inferior goods which cause injuries to the customers. They should charge the price according to the quality of e
goods and services provided to the society. Again, the customers also expect timely supply of all their
requirements. So it is important for every business to supply those goods and services on a regular basis.
(ii) Adoption of Fair Trade Practices:
In every society, activities such as hoarding, black- marketing and over-charging are considered undesirable.
Besides, misleading advertisements often give a false impression about the quality of products. Such
advertisements deceive the customers and the businessmen use them for the sake of making large profits. This
is an unfair trade practice. The business unit must not create artificial scarcity of essential goods or raise prices
for the sake of earning more profits. All these activities earn a bad name and sometimes make the businessmen
liablefor penalty and even imprisonment under the law. Therefore, the objective of business should be to adopt
fair trade practices for the welfare of the consumers as well as the society.
(iii) Contribution to the General Welfare of the Society:
Business units should work for the generalwelfare and upliftment of the society.This is possiblethrough running
of schools and colleges better education opening of vocational training centers to train the people to earn their
livelihood, establishing hospitals for medical facilities and providing recreational facilities for the general public
like parks, sports complexes etc.
С. Human Objectives:
Human objectives refer to the objectives aimed at the well-being as well as fulfillment of expectations of
employees as also of people who are disabled, handicapped and deprived of proper education and training. The
human objectives of business may thus include economic well-being of the employees, social and psychological
satisfaction of employees and development of human resources.
(i) Economic Well-being of the Employees:
In business employees must be provided with tan remuneration and incentive for performance benefits of
provident fund, pension and other amenities like medical facilities, housing facilities etc. By this they feel more
satisfied at work and contribute more for the business.
(ii) Social and Psychological Satisfaction of Employees:
It is the duty of business units to provide socialand psychologicalsatisfactionto their employees. This is possible
by making the job interesting and challenging, putting the right person in the right job and reducing
themonotony of work Opportunities for promotion and advancement in career should also be provided to the
employees. Further, grievances of employees should be given prompt attention and their suggestions should be
considered seriously when decisions are made. If employees are happy and satisfied they can put then best
efforts in work.
(iii) Development of Human Resources:
Employees as human beings always want to grow. Their growth requires proper training as well as development.
Business can prosper if the people employed can improve their skills and develop their abilities and
competencies in course of time. Thus, it is important that business should arrange training and development
programs for its employees.
(iv) Well-being of Socially and Economically Backward People:
Business units being inseparable parts of society should help backward classes and also people those are
physically and mentally challenged. This can be done in many ways. For instance, vocational training programs
may be arranged to improve the earning capacity of backward people in the community. While recruiting its
staff, business should give preference to physically and mentally challenged persons. Business units can also
help and encourage meritorious students by awarding scholarships for higher studies.
D. National Objectives:
Being an important part of the country, every business must have the objective of fulfilling national goals and
aspirations. The goal of the country may be to provide employment opportunity to its citizen, earn revenue for
its exchequer, become self-sufficient in production of goods and services, promote social justice, etc. Business
activities should be conducted keeping these goals of the country in mind, which may be called national
objectives of business. The following are the national objectives of business.
(i) Creation of Employment:
One of the important national objectives of business is to create opportunities for gainful employment of
people. This can be achieved by establishing new business units, expanding markets, widening distribution
(ii) Promotion of Social Justice:
As a responsible citizen, a businessman is expected to provide equal opportunities to all persons with whom
he/she deals.He/ She is alsoexpected to provide equal opportunities to allthe employees to work and progress.
Towards this objectives special attention must be paid to weaker and backward sections of the society.
(iii) Production According to National Priority:
Business units should produce and supply goods in accordance with the priorities laid down in the plans and
policies of the government. One of the national objectives of business in our country should be to increase the
production and supply of essential goods at reasonable prices.
(iv) Contribution to the Revenue of the Country:
The business owners should pay their taxes and dues honestly and regularly. This will increase the revenue of
the government, which can be used for the development of the nation.
(v) Self-sufficiency and Export Promotion:
To help the country to become self-reliant, business units have the added responsibility of restricting import of
goods. Besides, every business units should aim at increasing exports and adding to the foreign exchange
reserves of the country.
E. Global Objectives:
Previously India had very restricted business relationship with other nations. There was a very rigid policy for
import and export of goods and services. But, now-a-days due to liberal economic and export-import policy,
restrictions on foreign investments have been largely abolished and duties on imported goods have been
substantially reduced. This change has brought about increase in competition in the market. Today due of
globalization the entire world has become a big market. Goods produced in one country are readily available in
other countries. So, to face the competition in the global market every business has certain objectives in mind,
which may be called the global objectives. Let us learn about them.
(i) Raise General Standard of Living:
Growth of business activities across national borders makes quality goods available at reasonable prices all over
the world. The people of one country get to use similar types of goods that people in other countries are using.
This improves the standard of living of people.
(ii) Reduce Disparities among Nations:
Business should help to reduce disparities among the rich and poor nations of the world by expanding its
operation. By way of capital investment in developing as well as underdeveloped countries it can foster their
industrial and economic growth.
(iii) Make Available Globally Competitive Goods and Services:
Business should produce goods and services which are globally competitive and have huge demand in foreign
markets. This will improve the image of the exporting country and also earn more foreign exchange for the
WHAT IS A BUSINESS DEVELOPMENT PLAN?
A business development plan is just like the business plan you created when you started your business but with
a focus on growth and how to achieve it. It’s a long-term plan that outlines strategies for steady and sustainable
business growth over the coming years.
OPPORTUNITIES FOR GROWTH
Study your target market, your competitors, and your previous progress. From there, identify opportunities
for growth-whether it’s in creating new products, adding more services, breaking into new markets, a
combination of these, or other opportunities. Consider your options and work out what’s best for your
Determine that how you will fund your business growth. How much capital do you already have? How much
do you need more? How will you get it?
Do profit, revenue, and cost projections, then use them as basis for setting your short-term and long-term
Sales and marketing activities
Figure out what sales and marketing efforts will effectively promote growth and how these efforts will change
as you get bigger and better. Make sure your sales and marketing plan is study enough to support your growth
Evaluate your existing team and think about how you can improve their capabilities to meet your growth
objectives. Consider hiring new employees and what skills they need to have.
HOW TO CREATE YOUR STRATEGIC BUSINESS DEVELOPMENT PLAN
A business development plan that outlines, how you implement your business development strategy. It can be
a plan for an individual, a practice or the firm as a whole. Its scopes both the marketing and sales functions, as
they are so inter-wined in most professional services firms.
1. Define your target audience:
Who are you trying to attract as new clients? Focus on your best-fit clients, not all possible prospects. It is
most effective to focus on narrow that you can’t achieve your business goals.
2. Research their issues, buying behavior and your competitors:
The more you know about your target audience the better equipped you will be to attract their attention and
communicate how you can help them. What are their key business issues? Is your expertise relevant to those
issues? Where do they look for advice and inspiration? What is the competitive environment? How do you
3. Identify your competitive advantage:
What makes you different? Why is that better for your target client? Are you the most cost-effective
alternative, or the industry’s leading expert? This “positioning” as it is often called, needs to be true provable
and relevant to the prospect at the time they are choosing which firm to work with. Be sure to document this
positioning, as you will use it over and over again as you develop your messages and marketing tools.
4. Choose your overall business development strategy:
Pick the broad strategy or strategies to reach to reach, engage and convert your prospects. You can start with
the list of top strategies provided above. Which strategy fits with the needs and preferences of your target
audiences? Which ones best convey your competitive advantage? For example, if you are competing because
you have superior industry expertise, a thought leadership/content marketing strategy will likely serve you
5. Choose your business development tactics:
A great place to start is the list of the most effective tactics we provided above. Make sure that each
technique you select fits your target audience and strategy. Remember, it’s not about your personal
preferences or familiarity with a tactic. It’s about works with the audience.
Also, you will need to balance your choices in two important ways: First, you will need tactics that address
each stage of the business development pipelines. Some techniques work great for term nurturing. You need
to cover the full funnel.
Second, you need a good balance between digital and traditional techniques.
6. Specify how you will monitor implementation and impact:
Often overlooked, these important considerations often spell the difference between success and failure.
Unimplemented strategies don’t work. Keep track of what you do, and when. This will both motivate action
and provide a great starting place as you troubleshoot your strategy. Also monitor and record the impacts you
see. The most obvious affect will be how much new business you closed. But you should also monitor new
leads or new contracts, at the bare minimum. Finally, don’t neglect important process outcomes such as
referrals, new names added to your list, downloads of content that expose prospects and referral sources to
If you follow these steps you will end up with a documented business development strategy and a concrete
plan to implement and optimize it.
TOP BUSINESS DEVELOPMENTSTRATEGIES
Networking: networking is probably the most universally used business development strategy. It’s built on
theory that professional services buying decisions are rooted in relationships, and the best way to develop
new relationships is through face-to-face networking.It certainly is true that many relationships do develop in
that way. And if you are networking with your target audience, you can develop new business. But there are
limitations. Today’s buyers are very time pressured, and networking is time consuming. It can be very
expensive, if you consider travel and time away from the office.Newer digital networking techniques can help
on the cost and time front. But even social media requires an investment of time and attention.
Referrals: The close relative of networking and referrals are often seen as the mechanism that turns
networking and client satisfaction into new business. You satisfied clients do the same.Clearly, referrals do
happen, and many firms get most or all of their business from them. But referrals are passive. They rely on
your clients and contacts to identify good prospects for your services and make a referral at the right time. The
problem is referral sources often do not know the full range of how you can help a client. So many referrals
are poorly matched to your capabilities. Other well-matched referrals go unmade because your referral source
fails to recognize a great prospect when they see one. Finally, many prospects that might be good clients rule
out your firm before even talking with you. One recent study puts the number at over 50%.
Sponsorships and advertising: this can develop new business directly by sponsoring events and advertising? It
would solve a lot of problems if it works. No more trying to get time from fully utilized billable
professionals.Unfortunately, the results on this front are not very encouraging. Studies have shown that
traditional advertising is actually associated with slower growth. Only when advertising is combined with other
techniques, such as speaking at an event, do these techniques bear fruit.The most promising advertising
strategy seems to be well-targeted digital advertising. This allows firms to get their messages and offers in
front of the right people at a lower cost.
Outbound telephone and mail: professional services firms have been using phone calls and mail to directly
target potential clients for decades. Target the right firms and roles with a relevant message and you would
except to find new opportunities that can be developed into clients.There are a couple of key challenges with
these strategies. First they are relatively expensive, so they need to be just right to be effective. Second, if you
don’t catch the prospect at the right time, your offer may have no appeal relevance — and consequently, no
impact on business development.The key is to have a very appealing offer delivered to a very qualified and
responsive list. It’s not easy to get this combination right.
Thought leadership and content marketing:the strategy is to make your expertise visible to potential buyers
and referral sources. That is accomplished through writing, speaking or publishing content that demonstrate
your expertise and how it can be applied to solve client problems.Here, the strategy is to make your expertise
visible to potential buyers and referral sources. This is accomplished through writing, speaking or publishing
content that demonstrates your expertise and how it can be applied to solve client problems.
Books, articles and speaking engagements have long been staples of professional services business
development strategy. Many high visibility experts have built their practices and firms upon this strategy. It
often takes a good part of a career to execute this approach.
But changing times and technology have reshaped this strategy. With the onset of digital communication it is
now easier and much faster to establish your expertise with a target market. Search engines have leveled the
playing field so that relatively unknown individuals and firms can become known even outside their physical
region. Webinars have democratized public speaking, and blogs and websites give every firm a 24/7 presence.
Add in video and social media and the budding expert can access a vastly expanded marketplace.
But these developments also open firms to much greater competition as well. You may find yourself
competing with specialists whom you were never aware of. The impact is to raise the stakes on your business
Combined strategies: it is common to combine different business development strategies. For example,
networking and referrals are frequently used together. And on one level, a combined strategy makes perfect
But there is a hidden danger. For a strategy to perform at its peak, it must be fully implemented. There is a
danger that by attempting to execute too many different strategies you will never completely implement any
Good intentions, no matter how ambitious, are of little real business development value. Under-investment,
lack of follow through and inconsistent effort are the bane of effective business development.
It is far more effective to fully implement a simple strategy than to dabble in a complex one. Fewer elements,
competently implemented, produce better results.
Next, we turn our attention to the tactics used to implement a high-level strategy. But first there is a bit of
confusion to clear up.
Business Development vs. Marketing
Marketing is the process of determining which products and services you will offer to which target audiences,
at what price. It also addresses how you will position and promote your firm and it’s offerings in the
competitive marketplace. The result of all this activity should be an increasing awareness of your firm among
your target audience — and a stronger flow of qualified leads and opportunities.
Historically, business development has been a subset of the marketing function that was focused on acquiring
new marketing or distribution relationships and channels. While this role still exists in many companies, the
business development title has become interchangeable with many marketing and sales functions.
Business Development vs. Sales
Sale is the task of converting leads or opportunities into new clients. Business development is a broader term
that encompasses many activities beyond the sales function. And while there is some overlap, most traditional
BD roles are only lightly involved in closing new clients.
Business development is often confused with sales. This is not too surprising because many people who are
clearly in sales have taken to using the title of Business Developer. Presumably this is done because the
organization believes that the BD designation avoids some possible stigma associated with sales.
Nowhere is this practice more prevalent than in professional services. Accountants, lawyers and strategy
consultants do not want to be seen as “pushy sales people.” This titular bias is firmly rooted despite the fact
that developing new business is an important role of most senior members of professional services firms.Since
so many clients want to meet and get to know the professionals they will be working with, the Seller-doer role
is well established in many firms. The preference for Seller-doers also tends to discourage firms from fielding a
full-time sales force.
As an alternative approach to leveraging fee-earners’ time, some firms have one or more Business Developers
on staff. In the professional services context, these folks are often involved in lead generation and
qualification, as well as supporting the Seller-doers in their efforts to close new clients. In other organizational
contexts, this role might be thought of as a sales support role.
The result of this confusing picture is that many professional services firms call sales “business development”
and make it part of every senior professional’s role. They may also include some marketing functions, such as
lead generation and lead nurturing, into the professional’s BD responsibilities.It is this expanded role, where
business development encompasses the full range of lead generation, nurturing and sales tasks, which we will
concentrate on in this post.
Strategic Business Development
Not all business development is of equal impact. In fact a lot of the activities of many professionals are very
opportunistic and tactical in nature.This is especially true with many seller-doers. Caught between the
pressures of client work and an urgent need for new business they cast about for something quick and easy
that will produce short term results. Of course this is no real strategy at all.
Strategic business development is the alignment of business development processes and procedures with your
firm’s strategic business goals. The role of strategic business development is to acquire ideal clients for your
highest priority services using brand promises that you can deliver upon.
Deciding which targets to pursue and strategies to employ to develop new business is actually a high stakes
decision. A good strategy, well implemented, can drive high levels of growth and profitability. A faulty strategy
can stymie growth and frustrate valuable talent.
Yet many firms falter at this critical step. They rely on habit, anecdotes and fads — or worse still, “this is how
we have always done it.” In a later section we’ll cover how to develop your strategic business development
plan. But first we’ll cover some of the strategies that may go into that plan.
Business Development Strategy vs. Tactics
The line between strategy and tactics is not always clear. For example, you can think of networking as an
overall business development strategy or as a tactic to enhance the impact of a thought leadership strategy,
Confusing to be sure.
From our perspective, the distinction is around focus and intent. If networking is your business development
strategy all your focus should be on making the networking more effective and efficient. You will select tactics
that are aimed at making networking more powerful or easier. You may try out another marketing technique
and drop it if it does not help you implement your networking strategy.
On the other hand, if networking is simply one of many tactics, your decision to use it will depend on whether
it supports your larger strategy. Tactics and techniques can be tested and easily changed. Strategy, on the
other hand, is a considered choice and does not change from day to day or week to week.
10 Most Effective Business Development Tactics
Which business development tactics are most effective? To find out, we recently conducted a study that
looked at over 1000 professional services firms. The research identified those firms that were growing at
greater than a 20% compound annual growth rate over a three-year period.
These High Growth firms were compared to firms in the same industry that did not grow over the same time
period. We then examined which business development tactics were employed by each group and which
provided the most impact.The result is a list of the ten most impactful tactics employed by the High Growth
1. Networking at targeted conferences, trade shows and events
2. Providing assessments and/or consultations
3. Demos (in-person or digital)
4. Using a proposal toolkit
5. Speaking at targeted conferences or events
6. Video blogging
7. Creating downloadable, gated content
8. Nurturing prospects through phone calls
9. Publishing written blog posts on your website
10. Digital ads(pay-per-click, banner ads, etc.)
1. Does Nivesh Gloabal has enough resources to sell their product?
(a) Strongly agree (c) Disagree
(b)Agree (d) strongly disagree
The survey, that 30% of the people who were surveyed strongly agree to the option that NIVESH
GLOBAL possess relevant recourse to sell out their product that is construction of housing societies and
complexes to the relevant customers. Whereas 34% and 26% respectively, came to a conclusion of
agree and disagree the fact and fixtures. Where 10% strongly disagreed with the point and thought
that the company has to improvise in the certain area so that the selling of the product may increase as
per the yearly targets.
2. What according to you is the product’s best selling point?
(a) Cheap (c) Easy availability
(b) Quality (d) Others
NIVESH GLOBAL being a relatively new company in the market and laving high competition. The
respondents agreed to a certain level that easy availability and quality of the conduction is the main
and leading beat selling point. A cumulative of 62%(30% and 32%) respectively agreed to the same ,
agreed to the same , where as a healthy percentage of 3% came to the decision that the price and
various other factors were the selling point of the product.
BEST SELLING POINT
3. What is the target audience for NIVESH GLOBAL?
(a) High income group (c) lower income group
(b) Middle income group (d) all
In the questionnaire the main question was the target audience of NIVESH GLOBAL Being a real estate firm it is
very important for the company to set their preferences in regard to target audience. The respondents agreed
to the point that the company should focus more on the middle income group because the segment of the
housing societies that the company deals in cam is easily sold to middle income group. Nearly 40% of the
respondents agreed to that point. 28% respondents also agreed to the lower income group can also be
targeted as know they have power of housing loan schemes from various bank. 14% favored the high income
group people to be the target audience keeping in mind the business of the company of building complexes.
Middle income group
lower income group
4. Where NIVESH GLOBAL does sells their products?
(a) In business premise (c) Online
(b) Through agents (d) through business sources
According to the respondents the main place of selling for NIVESH GLOBAL is within business. 30%
agreed to the point that the main business is generated within their business this is because the
purchases visit the company so as to vies the flats and complexes and main collaborations
regarding the construction of various sites for road in done within the company . The company also
sells the product though the agents on the comic basis. This helps them to obtain good volume of
sales because more offer the customers goes to agent and property dealers to buy property. Which
in turn have link with company.45% selling in dose though these dealers? With the growing use of
internet for various purchases the company had also started online procedures for sale through
Place of sellings
In a business premise
through business sources
5. What does the marketing plan of NIVESH GLOBAL covers?
(a) Internet (c) Sales promotion
(b) Advertising (d) direct marketing
(e) Public relations
The main aims of the marketing plan that NIVESH GLOBAL has is to advertise this product in the market
and to do direct marketing at the same time. 38% and 29% of the respondents agreed to the same
point. Then main focus is on sales promotion of the product. Later comes the use of internet to
advertise and market the product so as to grow public relations with more and more customers which
in turn will be a great help increasing the turnover of the company.
6. How can marketing help increase help increase in sale for NIVESH GLOBAL?
(a) Increase in profit (c) Building a brand name
(b) Increase customer knowledge (d) no use
Marketing has a core aim of increasing the sale of the company. According to a large number of
residents (38%) marketing will help the company to increase sale which will result in increasing the
profit of the company which can be further used for expansion of the business. More over NIVESH
GLOBAL being a new brand in the market has to also understand the important of building a potential
and sustainable brand name in the market. Marketing will contribute in the cause according to 31% of
the respondents. Marketing and proper advertisement will also make the customer aware of the
upcoming projects and will provide them with the knowledge.
Marketing helps in
increse in profit
incresing customers knowlage
Building a brand
7. What is the best medium for the advertisement according toyourof view?
(a) Local newspapers (c) Radio
(b) Hoarding (d) Campaigns
NIVESH GLOBAL according to the respondent’s should advertise the product through local newspaper.
34% agreed to it. The reason being easy penetration of newspapers amongst the people in the society,
a very large % of people read newspaper on daily basis and this can be a core means of advertising the
product. Radio in the present day has become very popular amongst the people, with easy access in
every house and cars it has grown as a very strong medium of advertisement. 23% of the respondent
also shares the same view. 18% each agreed to the point that hoarding and campaigns can also be
used as effective means of advertisement.
Medium of advertisement
8. What according to you can be other modes of marketing that can be used by NIVESH GLOBAL?
(a) Direct mail (c) Social media marketing
(b) Brand marketing (d) Mobile web marketing
Ways of marketing is another import segment of marketing. The various modes can be direct mail,
Brand marketing, Social-media marketing and mobile web marketing. 39% of the respondents agreed
to the point that social media marketing can br5 a perfect way of marketing. Where’s 33% approved
that brand marketing can be used as the mode. Which state that the company should use its brand
name for marketing the products. A cumulative of 28% agreed that direct mail and mobile web
marketing that is marketing through SMS and cold calling can also turn as an effective way of
MODE OF MARKETING
Social media marketing
Mobile web marketing
9. How much according to you NIVESH GLOBAL is willing and realistically able tospend on
(a) 0 to 10% of revenue (c) 20% to 30% of revenue
(b) 10% to 20% of revenue (d) 30% to 40% of revenue
Every company has to decide a budget for marketing. A proper budget helps in effective ness of the
marketing schedule. 48% of the respondents agreed to the point that EARTH INFRATUCTURE should
invest 20% to 30% of their revenue in marketing because being a new company they need to build a
brand name and to do that it takes a lot of funds and resources. While 25% of people have a view that
a little less amount can also be the needful.
0 to 10% of revenue
10% to 20% of revenue
20% to 30% of revenue
30% to 40% of revenue
10. What according to you is the impression of the advertisement by NIVESH GLOBAL?
(a) Funny (c) Informative
(b) Interesting (d) Boring
When the respondents were questioned the effectiveness of the current advertisement, 42% of them
said that advertisement is informative and provide knowledge about the product. 33% agreed that the
advertisement was inserted enough to pay attention on the advertisement. On the other hand 18%
and 7% respondents respectively replied the advertisement was funny and boarding.
Effectiveness of the Advertisement
The survey showed that 30% of the people who were surveyed strongly agree to the option that Nivesh
Global possess relevant resources to sell out their products that is construction of housing societies
and complexes to the relevant customers
Relatively new company in the market and having high competition, the respondents agreed to certain
level that the easy availability and quality of the construction is the main and leading beat selling point.
Being real estate firm it is very important for the company to set their preferences in regard to target
The main focus is on sales promotion of the products, later comes the use of internet to advertise and
market the product so as to grow public relations with more and more customers which in turn will be
great help increasing the turnover of the company.
Marketing and proper advertisement will also make the customers aware of the upcoming projects and
will provide them with knowledge.
Nivesh global is entering the market and therefore has to necessarilypreparing the entire costing with
an intention to provide the best goodwill.
I have seen the attitude and style of the working of this company’s people is very good and target
oriented. They are full of zeal to work for the organization which is a good sign for the development of
Even in this recession period when most of the companies are struggling to survive this company is one
of those strong companies which is not only stable but making huge profits.
The investment objective of the portfolio is to generate long term capital appreciation from portfolio of equity
linked instruments. The investment portfolio for equity and equity linked instruments is primarily drawn from
the banks in the BSE 30- INDEX. As observed the portfolio is undiversified as the NIVESH GLOBAL included are
from a single sector viz... banking. Thus the risk cannot be diversified to a large extent. Moreover it is also
observed that returns from the portfolio are on the tracks.
Initially for some period the portfolio did not give as good returns as the Index i.e. BSE 30 but after sometime
the returns generated by the fund out-performed the Index Returns. After that a very heavy fall in the return
of index as well as portfolio was seen.
1. do the NIVESH GLOBAL has enough resources to sell their products?
a. Strongly agree
d. Strongly disagree
2. What according to you is the product’s best selling point?
b. Easy availability
3. What is the target audience for NIVESH GLOBAL?
a. High income group
b. Lower income group
c. Middle income group
5. Where does ‘NIVESH GLOBAL’ sells their products?
a. In a business premise
c. Through agents
d. Through business sources
6. What does the marketing plan of NIVESH GLOBAL covers
b. Sales promotion
d. Direct marketing
e. Public relations
7. How can marketing help increase in sale for NIVESH GLOBAL?
a. Increase in profit
b. Building a brand name
c. Increasing customer knowledge
d. No use
8. What is the best medium for the advertisement according to your point of view?
a. Local newspapers
9. What according to you can be other modes of marketing that can be used by NIVESH GLOBAL?
a. Direct mail
b. Social media marketing
c. Brand marketing
d. Mobile web marketing
10. How much according to you NIVESH GLOBAL are willing and realistically able to spend on advertisement?
a. 0 to 10% of revenue
b. 20 to 30% of revenue
c. 10 to 20% of revenue
d. 30 to 40% of revenue
11. What according to you is the impression of the advertisement by NIVESH GLOBAL?