The private labeled bottled water industry is exciting with tremendous growth opportunities and the ability for suppliers to offer their customers and strategic partners creative, effective advertising solutions. A common problem facing many firms, regardless of where they are in the company lifecycle, is that they get stuck in the trenches of daily operations, at the cost of conducting business development activities. This business strategy is based on the degree of popularity that the business is already enjoying in other areas of the customer base.
India’s largest power company, NTPC was set up in 1975 to accelerate power development in India. People will always do business with a company that offers them quality products and top notch customer service. Business Development (Biz-Dev) is often misunderstood.
Incubators often employ a selective screening process assessing the feasibility and workability of the business plan of incubatee prospects before letting hem join the program. Ensuring sustainability will also require continued effort and development to meet new demands and changes in market trends.
In the case of a business with consumable products, it can become solvent by identifying weaknesses in its customer base and reaching out to new demographics. Each time you pitch your products and services, make sure that you communicate their benefits and competitive advantage to make them more valuable to the eyes of your target market.
You should also give some thought and consideration to your target market and products and services so that you can continually evolve in-line with the market and create other avenues for expanding the business further. If you are running a traditional business, you can use radio, TV, newspaper, and local magazines as your marketing mediums.