Developing a Business Website
Developing a Business Website Simulation Analysis
Developing a business website is a much more complex task than simply
buying some servers and hosting a site. There are a variety of issues
that arise that must be addressed in order to ensure that your website
is not only functional but is actually of use to your customer to
differentiate yourself from the competition. In the world of online
trading the vendor must consider how the features of the site are
generated, offering free or “pay for” services, and determining the
functionalities that the customer will require. In working with the
company budget, Primus Securities will need to make specific decisions
about the site’s features and services to direct new and existing
customers to the website.
The success of this venture will center on the brand and the consumer
perception of the brand. The features that will be implemented must
extend the brand at each phase of improvement and make the customers
experience a safe, reliable trading source that sets to differentiate
itself from the competition. All feature selections and site
enhancements must be done with the purpose of improving customer
interaction and the perception of the Primus brand to it current and
future customers.
Site Features
To offer the consumer the level of features they require, Primus must
determine whether to hire a set of dedicated professionals or
outsourcing these functions. There are pro’s and con’s to each
scenario but ultimately a decision must be made to set the framework
for the site. If the company chooses to hire a supporting staff
dedicated to installing and maintaining these features, they will
incur the added fixed expense of salary, benefits, equipment, etc.
Although there an added expense of hiring the staff, they will able to
serve in multiple support roles such as installing the stock banner
and the portfolio ticker. This is not simply a monetary decision
where the company should consider which option offers the lowest cost
since this investment will determine how quickly the turnaround for
enhancements and improvement will be made. The company must also
consider that there will be future upgrades and changes and it may be
in its interests to have an internal staff to be held accountable and
that can be focused on the priority tasks as det...
... middle of paper ...
...xtremely beneficial. Not only should these ads be placed in industry
specific sites like CBS Marketwatch.com, but Primus could also seek
out popular investment message boards and forums and sponsor the
site. By sponsoring the site, Primus could have banner ad placement
and develop an appreciation from the potential customers that are
benefiting from the investment. This may help to generate goodwill
and generate some discussion on the site.
Conclusion
Any new business venture can expect a slow start and may not turn a
profit for some time. The key to establishing a successful new
eBusiness venture is to create a good and unique website, adequately
marketing that site to potential consumers, and consistently reviewing
and enhancing the site to meet customer needs and new trends in the
marketplace. Primus was able to turn its venture profitable in a
relatively short period of time by created a site that centered around
the customer, working within its budget to enhance features that added
value, and effectively utilizing resources (i.e. Staff, Financial) to
generate the website.
References:
Rayport-Jawprski. (2003). Introduction to e-Commerce. McGraw-Hill
Developing a Business Website Simulation Analysis
Developing a business website is a much more complex task than simply
buying some servers and hosting a site. There are a variety of issues
that arise that must be addressed in order to ensure that your website
is not only functional but is actually of use to your customer to
differentiate yourself from the competition. In the world of online
trading the vendor must consider how the features of the site are
generated, offering free or “pay for” services, and determining the
functionalities that the customer will require. In working with the
company budget, Primus Securities will need to make specific decisions
about the site’s features and services to direct new and existing
customers to the website.
The success of this venture will center on the brand and the consumer
perception of the brand. The features that will be implemented must
extend the brand at each phase of improvement and make the customers
experience a safe, reliable trading source that sets to differentiate
itself from the competition. All feature selections and site
enhancements must be done with the purpose of improving customer
interaction and the perception of the Primus brand to it current and
future customers.
Site Features
To offer the consumer the level of features they require, Primus must
determine whether to hire a set of dedicated professionals or
outsourcing these functions. There are pro’s and con’s to each
scenario but ultimately a decision must be made to set the framework
for the site. If the company chooses to hire a supporting staff
dedicated to installing and maintaining these features, they will
incur the added fixed expense of salary, benefits, equipment, etc.
Although there an added expense of hiring the staff, they will able to
serve in multiple support roles such as installing the stock banner
and the portfolio ticker. This is not simply a monetary decision
where the company should consider which option offers the lowest cost
since this investment will determine how quickly the turnaround for
enhancements and improvement will be made. The company must also
consider that there will be future upgrades and changes and it may be
in its interests to have an internal staff to be held accountable and
that can be focused on the priority tasks as det...
... middle of paper ...
...xtremely beneficial. Not only should these ads be placed in industry
specific sites like CBS Marketwatch.com, but Primus could also seek
out popular investment message boards and forums and sponsor the
site. By sponsoring the site, Primus could have banner ad placement
and develop an appreciation from the potential customers that are
benefiting from the investment. This may help to generate goodwill
and generate some discussion on the site.
Conclusion
Any new business venture can expect a slow start and may not turn a
profit for some time. The key to establishing a successful new
eBusiness venture is to create a good and unique website, adequately
marketing that site to potential consumers, and consistently reviewing
and enhancing the site to meet customer needs and new trends in the
marketplace. Primus was able to turn its venture profitable in a
relatively short period of time by created a site that centered around
the customer, working within its budget to enhance features that added
value, and effectively utilizing resources (i.e. Staff, Financial) to
generate the website.
References:
Rayport-Jawprski. (2003). Introduction to e-Commerce. McGraw-Hill