Primus Securities Business Plan Essay
The budget is projected over three quarters as indicated below. Additional monetary resources will budgeted in accordance with long-term phased implementation plan.
Quarter Projected Budget Projected Profit/Loss Projected Website Rank
1 $90,000 ($22,000) 39
2 $50,000 $210,000 22
3 $65,000 $407,000 13
Primus Securities will hire technology professionals. The technology team will initially include a system administrator, webmaster, and a maintenance programmer, and it should be expanded as necessary in the future. As new features are being implemented, the team would grow to potentially include more programmers, a system architect, a graphics designer, a database administrator, etc. A major benefit of in house …show more content…
The company will use focus groups to help determine what type of features customers would like on a brokerage firm website or questionnaires and surveys. Focus groups will also give the company an insight into why customers have certain views. To increase the response rate of questionnaires and surveys they should be kept short and be user friendly. Incentives can also be given to potential customer completing the surveys such as a one month free trial period to the member-only area of the website once it goes live.
In addition, the company evaluate the number of hits on certain will website pages as well as look at the number of returning customers. The most frequently used pages will be analyzed to see what information the customers found attractive. The pages that are not visited as often also will be reevaluated to find ways to make them, or the information contained on them, more attractive.
Competitors¡¦ data will also be closely looked at as well. If the competitors have already implemented the features similar to the ones the company has in the pipeline, the research must be conducted to figure out how their customers react to the new features, as well as how the implementation of those new features affected the overall performance of the competitors, their revenue, and profit.
Customer behaviors are constantly changing, so there is a risk if a marketing strategy is not implemented. These