Quantum Ventures Studio

You may wonder why marketing, business development, and sales are so late in the course and not much earlier in the process.

The reason is simple, you now have a much clearer idea of what you are marketing, what business relationship you need, and what you're selling.

If you do this step too early as people typically do, you just need to do it over right now. As you mature your thinking.

People tend to confuse marketing and advertising. Although advertising can be part of marketing, you need to think of marketing as all of the activities that range from researching and identifying where in the world the people are who will buy your product or service. Right through to all of the planning and execution of all activities designed to approach and grab the attention of potential customers in the market.

Sales then uses the marketing successes to secure money from the buyers and bring the money back to the company.

The importance of sales and marketing working together is critical.

If someone in sales speaks to a person who has not been prepared by marketing, then that salesperson needs to persuade using the marketing, so that they can then get to the point of selling and closing the deal and bringing the money back to the company's bank account.

If marketing excites potential buyers, but they don't know how or where to buy the product the customer will become very frustrated.

Business development sometimes called “biz dev” is occasionally a marketing role. Sometimes the sales role, and sometimes is treated independently of both sales and marketing.

Whether it has a sales objective or a marketing function what biz dev should always have is a strategic requirement.

Biz dev should be responsible for the relationships that will make the company's objectives achievable, for example.

If the company needs validation from doctors that the product does what it says it does then the business development will secure an agreement with a qualified source to validate the product.