Developing a Business Website Essay -- Business Management Studies Ess

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 â€Å"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... ...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