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Business Development Manager
The job title of 'business development' can mean various things. In some companies, the terms 'Account Manager' and 'Business Development Manager' (BDM for short) are interchangeable. However the main differential is that Account Managers service existing clients and work to maintain these relationships with less direct selling, and BDMs are responsible for winning new business with new clients.
The business development job responsibilities and remit depends on a number of factors including whom the person reports to and, the scale of and complexity of the 'business' to be developed, in terms of markets, products or services, geographical territory and so on.
Below is an example of typical responsibilities of a senior business development role:
- Researching the market and building understanding of your competitors
- Formulating a sales strategy
- Analysing and developing distribution channels
- Developing and planning new products
- Technology transfer, licensing, partnerships assessment and development
- Marketing, advertising and promotion planning
- Sales organisation planning and development
- Import/export development
- If the role has direct-reporting staff then the above duties would tend to be conducted by others, and the role would include people-management, recruitment, motivation, training and development staffing responsibilities
- Administration, budgeting, monitoring, reporting, communication and liaison.