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Evaluating a New Service or Product - Essay Example

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William L. Holdings, Jr. is a young real estate agent who has just inherited his father's business. His father has built Lawrence Holdings Associates and has now decided to retire. His son has ambitious plans to build office complexes in Dubai, Shanghai, Kuala Lumpur, Hong Kong and Bangkok…
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Evaluating a New Service or Product
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Download file to see previous pages In this scenario, he also asks his staff to develop the necessary survey questionnaire. His staff provide him with the necessary analysis and feedback. He decides on the content in his website. His education and memberships in prestigious real estate institutions take him to his destination.
Lawrence Holdings Associates (LHA) has been in the business of real estate for the past 40 years. Over the years they have built a reputation of building quality residential buildings in and around the city of Nashville, Tennessee. The present CEO of the company, William L. Holdings Jr., (WLH) has just taken over the control of the company from his father who had run the company for the better part of his able life. Holdings Sr. has decided to retire from active service and wants to spend the rest of his life travelling throughout the world. Holdings Jr., armed with a Harvard MBA, has been with his father for the past 6 years and with the exit of Holdings Sr. he has plans of entering into the lucrative business of building office spaces for huge multinational companies. His market surveys suggest that he build in 4-5 cities in Asia and the Middle East. He has plans to build office complexes in Dubai, Shanghai, Kuala Lumpur, Hong Kong and Bangkok. His father has over the years groomed a group of executives who are very knowledgeable in this field and professional in their approach. He and his team decide that a lot of things have to be changed for an international outlook. This is when his team decides to completely revamp their company's website.
The purpose of this write-up is on how he and his team evaluate the importance of a corporate website and go about setting up one. From now on we will be hypothetically setting up a website for Lawrence Holdings Associates (LHA).
Setting up an effective website
To setup a website for showcasing LHA, WLH considered a lot of things. He ensured that he had the best technical staff and he hired experts who were excellent in communication and could manage the relevant software and hardware. The purpose of setting up this website was very crucial for LHA and the website of a LHA reflected the various facets it was willing to show. The website, it was decided, should reflect the various strategies involved in marketing, branding, information sharing, mobilizing resources, public relations and knowledge sharing. WLH personally ensured that the website of LHA should always be very clear. For, he realized that the website is not just a technical project and hence care was taken in designing the content and the layout.
Research design and methodology
Having decided to setup a website it was more important for WLH laid a lot of emphasis on the focus and scope of the website. Next he wanted to promote the website and then to monitor and evaluate the website. For a company like LHA it is imperative the target audience got the right information and at the right time for the right price. So he devised a methodology whereby he could decide on his future course. He wanted to ask a closed community about the usefulness of his website before he went in for the actual marketing. He began a process of surveying the usefulness of his website identifying people who could be surveyed. Then he had to draft the questionnaire and do the actual survey. Finally he had to analyze and interpret the data collected.
1) Identifying the people to be ...Download file to see next pagesRead More
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