Business Development is a sales activity that is expected to deliver results in the medium to long term, for example developing a channel or partner strategy. This is different from a pure Sales activity which is more short term and normally involves selling directly to end customers and/or through ready, existing channels.
Marketing is a function which supports both sales and business development allowing them to target specific market verticals/channels/customers by developing material, market knowledge and sales propositions that are based on relevant 4P strategies: price, promotion, product and place.
Sales and BD go and sell what marketing (normally along with product management) have put together to describe, price and position the products.
In a nutshell, Marketing is getting the word out - whereas business development is to ensure that we get business from buzz!
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