Understanding Business Development Flashcards
What is ‘Business Development’?
The ability to generate value that sustains the business or organisation.
The ability to generate value that sustains the business or organisation is known as …….
‘Business Development’
Advancing a business opportunity and moving toward being in a favoured position from a customer’s perspective is a goal of ….
‘Business Development’
What is the key goal of ‘Business Development’?
To advance a business opportunity and move toward being in a favoured position from a customer’s perspective.
Generally, how does one increase the probability of winning a contract?
By positioning products or services early and building strong customer relationships.
Which Business Development phase is the most important?
They are all equally important.
What are the four C’s of Opportunity Planning?
Customer
Competition
Cost
Company and Solution
The ongoing activity that defines and qualifies target markets for pursuing business is known as…..
Market Identification
What is Market Identification?
The ongoing activity that defines and qualifies target markets for pursuing business.
What is a Capture Plan known as?
Opportunity Plan
What is the Price-to-Win formula?
Customer’s perceived value >=
Customer’s budget >=
Your price >=
Your cost.
What is “Price-to-Win”?
The process of analysing the competition and customer to identify and package a winning price offer to the customer.
The process of analysing the competition and customer to identify and package a winning price offer to the customer is known as…
“Price-to-Win”
What does SWOT stand for?
Strengths,
Weaknesses,
Opportunities
Threats
What is the purpose of a SWOT?
Identify you competitive position to help identify the outcomes needed to develop a compelling response the wins the business.
