Tag Archives: business development

The basics of product management

Product management is one of the most specialized areas in any business development plan. Product managers are highly skilled and knowledgeable, and oversee the development of the product in every stage of its cycle, from conception to launch. The required technical proficiency and expertise in this profession are encompassing. This field demands professional well-roundedness and familiarity with all the aspects of the creation, marketing, and sale of the product.

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This type of management essentially works with various strategies ensuring the product’s success. The business equation always includes the consumer, and the product manager also takes note of that reality in the development of specific products. The decisions made within product management can affect everything and everyone, from the consumer to every employee in the production line.

Complex market cycles influence product development in many ways. The manager has to understand completely the driving components shaping the future of any product introduced to the market. He or she must also have a clear grasp of the whole business environment, including both existing and nascent competitors. A thorough insight into the psychology of consumers and the movement of market forces can aid in the implementation of effective marketing plans and value propositions.

Product management involves many intersecting fields and concerns. The technology that guarantees the success of a line can only work if the people behind the management of the product have accounted for all the variables. In the end, the product does not exist inside a vacuum. Its inception is occasioned by a multitude of factors.

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Steven Rindner is a results-oriented executive with a strong background in business development and growth strategy across a number of industries including media, technology, real estate services, and healthcare. To learn more about his professional work, visit this page.

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What Are The Elements Of Business Development?

The definition of business development seems to be as elusive to the definition as a catfish in a fast-moving stream. Business development, like many other things, has a lot of different aspects; it’s just that some people take these elements and call each of them “biz dev.” It can have something to do with sales, building relationships, establishing new markets, and streamlining existing processes. It’s just a question of what needs to be done in the present even if that means doing two or more at the same time.

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A new business, for example, needs to take stock of where it wants to go and what it wants to achieve. It needs to concentrate on the nitty-gritty of growing a successful business succeed and allowing it to continue to expand and exceed its triumphs.

This means focusing on some basics: cost savings, capacity building, sales, networking and making strategic partnerships. It also calls for managing crucial elements: product development, supply chains, customer care, and even dealing with vendors.

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All of these should focus on being able to sustain long-term value for a company. This means being able to stay in chosen markets, reaching the right customers, delivering the expected and agreed upon product or service, making sure that necessary support systems and infrastructure are always ready, and, most importantly, ensuring that any opportunity taken advantage of will create even more opportunities over the long-term.

These are the things that Steven Rindner deals with on a daily basis. He’s worked with media, technology, real estate, and health care to make sure these businesses succeed. For more business insights, click here .

Online reviews: Their essential role in business development

Nowadays, business development strategies lean toward digital media as online channels have raised buyer engagement. Digital tools that have been overlooked by some businesses are online reviews and ratings.

An industry that has embraced online reviews is the tourism industry. According to studies, more than 90 percent of travelers base their decisions on reviews and other user-created contents.

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Other businesses can also benefit from utilizing online reviews.

For one, these reviews often offer constructive criticisms and suggestions. Comments made by customers provide either a validation of the quality of products and services or information on how the business can improve operations and business practices. During decision making processes, online reviews, whether positive or negative, offer great insights.

Online reviews can also be a free marketing tool as they can create brand awareness and expose the products and services to an even wider audience. There are even instances when online reviews are a more optimal advertisement option than traditional marketing channels.

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Online reviews also influence search engine results, with some experts even claiming that these are strong off-page SEO elements.

By managing online reviews effectively, any organization can create ideas and initiatives with long-term values, while establishing healthy relationships with customers, partners, and the market.

Steven Rindner is a business and corporate development executive, whose range of expertise includes media, technology, real estate services, and healthcare. For more insights about business development, visit this blog.