MARKET ANALYSIS TECHNIQUES AND BUSINESS DEVELOPMENT PRESENTED ON ANIMAL FEED INDUSTRY 04-Nov-2011T & C Samdach Pan By Mr. Ratha Chan, SME Researcher & Consultant Phnom Penh
The Overall Business Environment Suppliers Customers internal factors ex. product, Staff Suppliers capital and financial.. Competitors
Tools for Conducting Market AnalysisPEST Analysis:1- Political : What are the areas of government policy really focus on ? Find out the implication with your business’s activities. ( Opportunity and Threat )2- Economic: World , Regional and Local Economy How’s the economy perform , more importantly local economy and sector analysis where some sectors can be performed well while economy is in the recession ! Agriculture
Tools for Conducting Market AnalysisPEST Analysis:3- Social : Identifying social issues and trends which are posing an opportunity and threat for your business. Organic Products4- Technology: Grabbing an innovation and new technology for improving your business’s operation, reducing cost , improving quality and services and gaining a competitive advantages.
What’s Business Development (BD) do ?BD should perform some works as below:1. Researching new types of business,Products and services2. Attracting new customer Noted:3. Penetrating existing markets Understating about your own4. Negotiation ( up to the close sale) product is the5. Analyzing overall market situation most critical Thing.6. Marketing planning and implementation7. Developing a sale pipelineand strategy
Developing a sale pipeline and strategyProspecting/Initial contactPre-approach- planning the saleApproachNeed assessmentPresentationMeeting objectionsGaining commitmentFollow-up
BD and Sale TechniquesBusiness Intelligence (BI) gathering on customers and competitorsGenerating leads for potential saleAdvising on, drafting and enforcing sales policies and processesFollow-up sales activityFormal proposal and presentation management and writingBusiness model designStrategic analysis on BD and saleAccount planning and performance monitoring systemDeveloping marketing tools which fit to business’s natureFlexible on term and condition (negotiation technique)
Business Development ResponsibilitiesWho are responsible for Business Development ? Everyone in the Business !!! Why ?Because without a contribution from all departmentand level to Business Development and Sale Less Revenue, Low Customer Satisfaction and High Cost of Doing Business !
What are BD and sale want to achieve ?BD and Sale Goals: Quality Maximize Services Turnover