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That's a good question for which I never could find a suitable answer. There is a heavy discussion about where does the business development fit? Is it marketing or sales.
Business development includes tasks that belong to Marketing such as brand placement, market expansion, new user acquisition, and awareness.
But it also includes sales activities, such as qualification and negotiation.
I think it is more a sales-like job as it is mostly creating business through strategic relations including partners and corporate accounts.
Marketing team considers them as their part, Sales Team as their own. Definitely, it is a part of both and difficult to segregate. Many functions overtake these two departments as also the decisions. Let it be a management role representing both the departments with necessary intermediary functions between the two.