Business Development
Please complete the following assignment.
You are the Business Development Manager for a microchip product manufactured by ABC Components Corporation. Please describe how your business development process and approach will change with each stage of the product life cycle. A five sentence paragraph should be sufficient to discuss your efforts in each of the stages: development, introduction, growth stage, maturity stage, decline stage (five paragraphs).
To get you started, think about the following…..in the development stage, who do you need to learn about, what kinds of information do you need marketing to generate, etc? Elaborate on this and provide more. This is relevant for the development stage. Each stage will be different, meaning, don’t just answer these questions for each stage. Think about each stage independently. There will be different approaches and considerations for each stage. Your responses should be based on concepts from the coursework, particularly the current chapter.
Solution Preview
The business development process will undergo five stages which will change with the product life cycle. The first stage is the development which is the initial step before the business comes into official existence. In this stage, I will seek to gather information, ideas and opinions from as many sources as possible regarding the potential of the business idea and the microchip product in the market among the considerations that I will make in this stage include whether the product will satisfy a certain need in the market,
(550 words)