The CEO has called the VP of Marketing and the CIO into his office to discuss im

Question

The CEO has called the VP of Marketing and the CIO into his office to discuss improvements to the website. The CEO informs them that an additional budget of $50,000.00 is available to make the improvements. The CEO tells them to present their cases to him so that a final decision can be made as to where the money should be allotted.

You are the VP of Marketing. State your argument as to how the money would be used in your department to improve the site and why your ideas would be the most beneficial for growth going forward. Be creative in your arguments. You can also be as specific or generic as you feel is necessary.

Explanation / Answer

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Answer-

The argument can be framed by the VP marketing stating what is the present condition and how they will start improving the present clicks on the website and the way forward. Therefore the below can be vital pints-

Reduce Marketing cost- Website has a global market and the products offered by the company are synonymous across the markets except for the changes in the design. And in this case the company can create one standard add campaign, by picking up one international athlete/personality and market it across the globe with change in website tagging and overall look and feel. There would be least of expenses here except for the celebrity hiring cost.

Creates new market opportunities- By selling globally the website will makes loads of popularity and income as, visiting this website will be turned the one stop shop for the customers across globe and it becomes imperative upon them to buy good products from this website and hence the company automatically creates a bigger and new market.

Level uneven income streams- If the income from one market is uneven or is decreasing the company can clearly increase the income from other small or new markets by following aggressive strategies.

Local buyer needs- By identifying new markets globally Website can categorize and identify needs of several buyers based on the region, age country etc. By doing so the company will be able to service to local buyers needs and also offer variety of products as the offering will increase with the market and the categorization.

The VP can frame his argument also on the cost of advertisement and market reaching activities done by the company in the recent year and the income generated from the same activities in terms of increased sales and revenues.

The importance of the same can be highlighted from the fact that global e-commerce websites are investing heavily on marketing and hype generation and hence creating revenues for themselves.

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