You are a member of multitalented team consisting of majors in psychology, finance, computer science and engineering. Senior management team of one of the local FinTech start up approaches you for advice regarding their strategic position as well as potential technology to use going forward. The FinTech is looking to offer investment solutions to millennials via an online platform and are in the final approval process from ASIC to receive their licensing. What is your advice?
Select one:
a. Improve website and invest in marketing as current young generation is fully mobile and tech savvy, in short, invest your energy and time on being a force online
b. Focus on building you base and keep on current path as there is little need to improve and reshape your services and offerings
c. Look into new algorithmic solutions and ways how to improve your product and services, keep continuation in your current product however move forward on new services
d. Given new entrants in the market, especially zero commission online broker platforms, have to move into new algorithmic solutions as well as brand new business coverage and customer base
Option (a) This option is CORRECT. The firm is planning to offer investment solutions to millennials as service via an online platform. So, it is wise to upgrade the website and market the product more. The target customers are all tech savvy. they would get attracted to a tech savvy company offering hassle free services that can be availed from their mobile phones.
Option(b) INCORRECT. There is always scope for improvement in this tech driven business.
Option (c) INCORRECT.This is true but doesn't offer specific advice to improve
Option(d) INCORRECT. Doesn't help the cause
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