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Developing a Business Website

Powerful Essays
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...

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...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