busi·ness de·vel·op·ment
[biz-nis]  [dih-vel-uhp-muhnt] 

1. Business Development comprises a number of techniques which aim at attracting new customers and at penetrating existing markets using methods including market research, customer profiling, multi-touch marketing and appointment setting.

2. Business Development involves evaluating a business and then realizing its full potential, using such tools as strategic planning, idea incubation, staff optimization and systemization.

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