Questions Business and Entrepreneurship

What is the difference between business development and marketing?

Airtract

Cecilia H. Phelp

Failure is not fatal

Most people have this notion that all these terms are similar. However, all these terms are unique and have their importance and play different roles in the success of the business.

Let us now discuss the difference between business development in details.

  • Business development: 
    Business development comprises of all the different kinds of activities aimed at increasing the profit drive of the company and help the company to expand its business and services farther into the market.  

    As rightfully mentioned that “ Business Development is the creation of a long term value for an organization from customers, markets and relationships. All these factors mentioned collectively contribute to the business growth and how they interact is generally a part of the business development plans.  Now let us discuss the different elements of business development in details:
  1. Long Term value: 
    Long term value can refer to a wide array of things such as money, fame, access or anything which the company requires for its growth. Business Development focuses on creating opportunities which are on a long term basis rather than just short terms profits. 

  2. Customers: 
    The ones who are responsible for making or breaking a company. They are the ones who possess the control over the business as they are the ones who pay for the services and products offered by the company.

  3. Markets: 
    To target the audience, the company needs to focus on the market requirements as customers are found in specific markets.

  4. Relationships: 
    The secret to long term profit for any business is the strong bond of faith and reliability between the company and the audience.

  • Marketing:  
    Marketing, on the other hand, can be described as the combination of all the processes aimed at creating awareness among the audience about the services offered by the company. Marketing is a way of establishing a strong bond between your company and the audience. Marketing helps a business to grow by contributing to achieving the proper sales target. Marketing focuses on interaction with the audience to generate leads for the business.  There is a vast number of marketing techniques such as:

  1. Advertisements.

  2. Cold calling.

  3. Free Sample distribution.

  4. Online Marketing using various social media platforms.

  5. Public relations.

    Read more:  What is strategic business development?

    Business and Entrepreneurship Courses

    Airtract FLASH SALE

    Do Your Own Accounts

    Lisa Newton

    0 (0) New Course

    How to do your own manual bookkeeping using excel spreadsheets.

    1 hrs 30.27 mins 0 Students Enrolled 11 Lectures

    $19

    51.28 % off $39

    $19

    Buy Now
    Airtract FLASH SALE

    Start Your Own Business

    Lisa Newton

    0 (0) New Course

    There are some downloadable items for you to fill in for your own reference - a business plan and a marketing plan. The course will take about 7 hours to complete. If you are thinking of starting y...

    2 hrs 4.32 mins 0 Students Enrolled 16 Lectures

    $19

    57.78 % off $45

    $19

    Buy Now
    Airtract FLASH SALE

    How to be a Great Executive Researcher & Recruiter...

    Gary Wilson

    0 (0) New Course

    This course is designed to train the student in the role of an executive search consultant. It is designed to be a basis upon which any bright individual with the right (Do It Now) attitude can be...

    3 hrs 49.10 mins 0 Students Enrolled 16 Lectures

    $19

    90.0 % off $190

    $19

    Buy Now

    Build Strong Foundation to Become an Entrepreneur ...

    Mayur Pangrekar Verified

    0 (0) New Course

    Welcome! Learn directly from International life coach and trainer Mayur Pangrekar. Mayur Pangrekar has taught more than 3000 people in training programs and more than 5000 people through video c...

    1 hrs 26.11 mins 2 Students Enrolled 15 Lectures

    $ 0.00

    Free Enroll Now
    View All
    Item added successfully. Go to cart for checkout.
    Accept Reject