Module5FactsheetSiemers (2)
.docx
keyboard_arrow_up
School
Saint Cloud State University *
*We aren’t endorsed by this school
Course
MBA 611
Subject
Marketing
Date
Jan 9, 2024
Type
docx
Pages
3
Uploaded by DukeArmadilloPerson848
1.
Brief firm background, relevant actors. Jacob Wobbrock is the ceo of Answerdask and Andrew
Ko is the other cofounder and cto. Answerdash helps people find answers to questions while they
browse websites and partner with companies to help them gain business and revenue by using
questions and prompts to connect customers with customer sales representatives. Extra info:
AnswerDash is a technology startup based in Seattle that offers a software platform that enables
companies to provide on-demand answers to their customers' questions. The company was
founded by Adam Carson and Jake Wobbrock in 2012, and the platform was launched in 2014.
The platform uses natural language processing (NLP) technology to provide instant answers to
customers' questions, which are sourced from a company's knowledge base or from crowdsourced
answers provided by a team of "experts" who are incentivized to provide high-quality
responses.The relevant actors in the case include Adam Carson and Jake Wobbrock, the co-
founders of AnswerDash; Leslie Yuan, the Chief Revenue Officer (CRO); and several potential
customers who are considering using the platform.
2.
Issues/decision alternatives facing a firm. Customer acquisition did not meet expectations and it
took months to have paying customers. The first customer decided to discontinue the service and
ceo and cto as well as other cofounders were questioning if they were targeting the right
businesses or not. Additionally, AnswerDash is facing several issues and decision alternatives,
including how to increase sales and market adoption of the platform, how to differentiate itself
from competitors, and how to optimize its pricing strategy. One major decision facing
AnswerDash is how to target its sales efforts. The company has tried selling to small and
medium-sized businesses (SMBs) and enterprise customers with varying degrees of success.
AnswerDash needs to determine which customer segment represents the best opportunity for
growth and focus its resources accordingly. Another decision facing AnswerDash is how to
differentiate itself from competitors such as ZenDesk, which offers a similar platform but with a
different pricing model. AnswerDash needs to communicate the unique benefits of its platform
and pricing strategy to potential customers and position itself as a superior solution. Finally,
AnswerDash needs to optimize its pricing strategy to maximize revenue while also remaining
competitive. The company has experimented with various pricing models, including a
subscription model and a usage-based model, and needs to determine which model is most
effective.
3.
Events described in the case that you believe are salient and relevant to the situation facing the
firm. Most of the customers the company had were brought upon through their professional
network and were not outsources or organic customers. They were using a shotgun approach
which made them take any customer that was willing to partner with them and give them
business. They need to know how much to charge, who to market to, and how to advance the
product.
One salient event described in the case is AnswerDash's recent pivot from a subscription
model to a usage-based model. This decision was based on customer feedback and the realization
that customers were hesitant to commit to a subscription without first testing the platform's
effectiveness. The usage-based model allows customers to try the platform without making a
long-term commitment, which has increased adoption rates.Another relevant event is the
difficulty that AnswerDash has had in convincing potential customers of the value of its platform.
Many customers are accustomed to using traditional support channels such as email and phone,
and are skeptical of the benefits of AnswerDash's NLP-based platform. AnswerDash needs to
communicate the value of its platform more effectively and demonstrate how it can save
customers time and money.
4.
Competitive environment/issues facing the firm.
Several other companies including Salesforce
Desk.com and Zendesk offer the same services through self service and assisted service question
categories. These questions connected shoppers with customer sales representatives through
email, chart, and phone calls.
Additionally, AnswerDash operates in a highly competitive market
with several established players such as ZenDesk and Salesforce. These companies offer similar
platforms but with different pricing models, which can make it difficult for AnswerDash to
differentiate itself. Another issue facing AnswerDash is the difficulty of convincing customers to
switch from traditional support channels to a new platform. Customers may be hesitant to invest
time and resources in learning a new platform and may prefer the comfort of using familiar
channels.
5.
Current marketing strategy (segments in the market, targeted segments, overall positioning of the
firm); Any future marketing strategy, if indicated, in the case. AnswerDash's current marketing
strategy involves targeting both SMBs and enterprise customers and emphasizing the ease and
efficiency of its platform. The company has also experimented with different pricing models to
find the most effective approach.In the future, AnswerDash may focus its marketing efforts on
specific industries or niches where its platform can offer the greatest value. For example, the
platform may be particularly effective for companies with large and complex knowledge bases or
for companies with high volumes of customer inquiries.
6.
Consumer behavior, trends. Once companies saw that their bottom line was increasing, they
generated more revenue. In order to do this, the customers used the question assistance in one
way or another to learn about the product to see if it fit their needs or not and when it does, the
customer buys the good or service.
7.
The marketing mix (include both specifics such as product price, retail outlets where product is
available, product details, types of promotion being used as well as overall strategies employed
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Dont use answers from other websites !
Your best friend from high school has just texted you with his great new idea. He is going to begin a yard care business starting this October and he wants to hire you part-time to work for him. Your best friend knows little about running a business and also little about yard work, except what he has learned from doing yard work for his parents. Since you are currently taking a small business class, you know there are some questions your friend needs to consider.
What could be a competitive advantage your friend could bring to his business, taking into consideration there are already many successful yard care businesses in the area?
In order of importance, rank three reasons why your friend may be excited to have his own small business.
In order of importance, rank three challenges your friend will need to overcome in order for his small business to succeed.
arrow_forward
The rapid growth of the Internet and the increasing adoption of technology have revolutionized the business landscape, giving rise to new and innovative business models.
1) Discuss internet business models, analyze the impact of e-commerce on business structures and processes, examine effective web marketing strategies.
2) Evaluate the importance of creating and maintaining brands on the web.
3) Discuss the evolution of payment in e-commerce by providing insight into the foundations of payment systems, the types of payment systems used in e-commerce, and offer mitigation strategies to target the associated threats.
arrow_forward
Source: https://www.bizcommunity.com/Print.aspx?l=196&c=168&ct=1&ci=220219 [Accessed 9February 2023].
please read the above
a.Companies that focus on gaining customer knowledge and developing insight intothis knowledge, can deepen and extend customer relationships. Advise Clicks, forthem to improve their position, on the information that should be stored within theirdatabase
b.To build successful relationships, trust and commitment are required. Advise Clickson how they can improve both trust and commitment between themselves and theircustomers.
c.Clicks may choose to conduct a customer satisfaction survey. Explain the benefitsthat a customer satisfaction survey would provide to the brand.
Please note this is one question and not mutiple thank you
arrow_forward
multiple1- Organizations that seek the most-qualified executive available for a specific position and are generally on assignment from the company needing a specific type of individual are referred to as A- employment agencies B- job fairs. C- progressive search firms. D-executive search firms. 2-Which of the following provides an example of special event recruiting? A- Internships B- Recruiters. C- Employment agencies D- Job fairs. 3- What is perhaps the most common approach to meeting short-term fluctuations in work volume? A. Overtime B- Subcontracting C- Temporary employees D- Employee leasing. 4- The least-expensive recruitment method that provides the broadest coverage is probably through the use of A- newspaper advertising. B- special events C- recruiters. D- employment agencies.
arrow_forward
A new social mobile app you are developing allows users to find friends who are logged in and within a 10-mile radius. This would be categorized as a ________ service.
Group of answer choices
A.) geoinformational
B.) geomapping
C.) geosocial service
D.) geoadvertising
arrow_forward
the Internet is teeming with wiki sites or wikifarms hosting countless wiki communities with millions of pages. Popular platforms are Wikia, Wikispaces, PBworks, and Google Sites. All offer free accounts inviting users to browse or start their own wikis on any imaginable topic of interest. One notable online community is Wikibiz on Wikia, which is currently seeking competent business users to edit over 200 articles. It’s not hard to understand how businesses benefit from wikis for providing documentation, establishing a knowledge base, collaborating on and editing articles, and communicating in forums and chats. But what makes a valuable contributor?
Whether they contribute to a wiki on the Internet or at work, participants should try to abide by the conventions of polite society, yet even commonsense rules are often broken. Valued users show respect and avoid ambiguous language. They don’t attack or harshly criticize other contributors. They aren’t trolls (annoying individuals who…
arrow_forward
I need answer typing clear urjent no chatgptb
A profit-maximizing company uses two gross substitutes - capital and labour - to produci smartphones In the long run, this company faces a lower cost of physical capital what should it do? a. Hire fewer workers. b- Employ less physical capital. c- Hire more workers. d. Decrease the wage
arrow_forward
Employees of a firm are the source of knowledge who enable enterprises to implementthe planned activities.
ii. Explain the challenges and obstacles that are likely to affect a firm’sknowledge management.
arrow_forward
1. Research a selected Internet of Things (IoT) device or devices for your large organization.
2. Explain the strategic use of this IoT device(s) and its diffusion and implementation timeline in your organizational setting.
3. Describe the risks this IoT device poses to future organizational revenue streams, expenses, and security.
4. Conclusions
arrow_forward
O https://berkeleycollege.instructure.com/courses/25572/discussion_topics/690710
Please be sure to read this week's reading assignment (Chapter 4: "Market Research") before starting this week's discussion
Week
board.
You work for a company that manufactures toothbrushes, and you have been asked to conduct research to determine how the
company can increase its toothbrush sales,
uts
Sales will increase if you can get new customers to use your product and/or get your current customers to purchase more
toothbrushes.
For this discussion, please answer the following:
1. What type of primary research would you conduct to determine how the company should proceed? Be specific!
2. Who would participate (new customers/current customers) in this research?
3. What information would you seek to get from this research?
It is required to respond to my post and to a minimurm of 2 of your classmates' posts by 11:59 PM on Saturday. Additionally, please pay
attention to your spelling and grammar!
Finally,…
arrow_forward
TRUE OR FALSE
1. A missing “how to achieve” plan accelerates sales performance.
2. Geographical structures group together sales jobs and activities being performed in the same location or region.
3. Centralized organizations delegate decision making throughout all levels of management, and decentralized organizations concentrate decision making at the top levels of management.
arrow_forward
Allot 45 minutes to watch the complete video. After watching the video write a brief summary. The summary should be a minimum of 250 words and a maximum of 500 words. In the summary, you will briefly describe the three businesses profiled and then select one you believe was the best business. You must support your selection using insights from the readings from your textbook to date.
Use the link below to view the episode (New clip):
https://abc.com/shows/shark-tank/episode-guide/season-14/16-episode-16
arrow_forward
Find a Business Plan for Solar-Powered Business (give the URL). The business plan must have the following component:I. Executive SummaryII. Business DescriptionIII. Product or Service DescriptionIV. Competitive AdvantageV. Marketing PlanVI. Management TeamVII. Operational PlanVIII. Financial ProjectionsIX. Appendices
arrow_forward
2. Provide and describe five examples of how database management systems can help businesses to become more effective?
arrow_forward
Examine the ways in which Binary Search Trees and AVL Trees are comparable to one another, as well as the ways in which they vary. Is it really feasible to have a conversation on how to operate a company more effectively?
arrow_forward
1. Discuss some examples of products or services that require a critical mass of potential buyers be equipped and willing to buy through the Internet.
2. Describe the challenge for businesses surrounding return-on-investment calculations and employee recruitment and retention.
3. Discuss the difficulty of integrating existing databases and transaction-processing software designed for traditional commerce into the software that enables electronic commerce.
4. Discuss some aspects of cultural and legal obstacles to conducting all types of electronic commerce.
arrow_forward
Based upon the reading by Arruda (2014), he noted that “If you’re pursuing a degree so you can launch a fulfilling career, you need to start looking for a job the moment you set foot on campus.” He encouraged using LinkedIn. Which is NOT one of the reasons Arruda provided for looking for a job the moment you step on campus?
Select one:
a.
The job market is uncertain.
b.
Finding a job is a journey, not a destination.
c.
Networking, 80% of the jobs landed are through networking.
d.
Referrals are the top source of external hires.
e.
A large number of jobs are obtained through nepotism (i.e., gaining a job through a relative).
arrow_forward
193) You are a marketing manager for a national movie theatre chain. Give an example of data that your department could use for creating meaningful information. What type of information could that data produce?
194) Define business process. What might be a business process used at a hospital?
195) You are starting a small bike messenger company. Given your type of services (hand-delivering packages within a small geographical area), could your firm be a digital firm? If so, what would make this a digital firm?
196) This chapter discusses how each organization has its own culture and sets of values shared by most of its members. What kind of shared values might you find at a law firm?
197) You work at the business headquarters for a chain of movie theaters. Describe this firm's information value chain.
arrow_forward
NIKEiD allows customers to design their shoes and sports apparel. This example mostly highlights a firm's effort to _______.
A) increase awareness
B) increase attraction
C) optimize curiosity
D) increase commitment
Chase provides interesting content focusing on financial planning. This example mostly highlights a firm's effort to _______.
A) increase awareness
B) increase attraction
C) optimize curiosity
D) increase commitment
arrow_forward
1. What are the four levels of activity in the pyramid
representing the business organization? Distinguish
between horizontal and vertical flows of information.
3. What is the relationship among data, information,
and an information system?
3. Distinguish between AIS and MIS.
arrow_forward
Test and apply your knowledge.a. Do you want to venture into e-commerce? Why?b. How do you start business on websites? Discuss the process.c. Identify some of the problems and recommend possible solutions in e-commerce.
arrow_forward
1. _____ nurture young firms and help them to survive and grow during the startup period when they are most vulnerable.
a. Successful graduates
b. Business incubators
c. International trade organizations
d. Conglomerates
2. Which of the following best describes one of the contributions of small businesses?
a. They are sources of new ideas or services that larger businesses may be unable to provide.
b. They provide large capital gains to the owners.
c. Their products and services are sold at prices that are lower than large businesses' prices.
d. They provide economies of scale that large businesses cannot match.
3. Most creative entrepreneurs are very good managers.
a. True
b. False
4. An entrepreneurial venture is characterized by:
a. innovative strategic practices and/or products.
b. independent ownership and operation and no desire for dominance in its field.
c. no scope of growing large, and the owners…
arrow_forward
The COSO Enterprise Risk Management Framework ___
A. stresses that effective risk management is comprised of just three interrelated components: internal environment, risk assessment, and control activities.
B. helps management manage uncertainty, and its associated risk and opportunity, so they can create and maintain value.
C. helps management set risk management policies that, if enforced, guarantee achievement of corporate objectives.
D. stresses that risk management is the sole responsibility of top management.
arrow_forward
1. Choose the name of any one business organization that uses any information system.
2. Describe the company profile.
3. Describe any two type of information systems in the company.
4. Prepare a flow chart of actions performed in any one of these information system.
5. Evaluate the role of information systems in increasing efficiency and effectiveness of internal operations in that business organization.
arrow_forward
12
An e-government platform that solely offers information as part of their business model refers to a hybrid business model.
Select one:
a. True
b. False
arrow_forward
You can assume that you are hired by a local small business company as an ITconsultant. You are given 500-10,000 dollars to improve or setup its information systems.What is your Information System plan for the company?1. Introduce the context: the small business company introduction, its products,markets, and mission.2. Discuss the problems with its current information processing abilities – analyzewhether it is inadequate in satisfying computing requirements, misaligned with firmstrategy, not cost effective etc.103. Develop and justify your proposed IT strategy. What new technologies should beintroduced? What applications would they support, and who would use them to dowhat differently?
arrow_forward
Discuss the impacts information technology is having on the business world.
2. Identify the IT resources businesses have at their disposal and how these resources are used.
3. Describe the role of information systems, the different types of information systems, and how businesses use such systems.
4. Identify the threats and risks information technology poses on businesses.
After Answering the questions above, consider how IT has changed the business of higher education. Identify at least three functions, services, or activities that would not have been available even 10 years ago.
How do you think that colleges and universities will change in the future because of advances in IT?
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Related Questions
- Dont use answers from other websites ! Your best friend from high school has just texted you with his great new idea. He is going to begin a yard care business starting this October and he wants to hire you part-time to work for him. Your best friend knows little about running a business and also little about yard work, except what he has learned from doing yard work for his parents. Since you are currently taking a small business class, you know there are some questions your friend needs to consider. What could be a competitive advantage your friend could bring to his business, taking into consideration there are already many successful yard care businesses in the area? In order of importance, rank three reasons why your friend may be excited to have his own small business. In order of importance, rank three challenges your friend will need to overcome in order for his small business to succeed.arrow_forwardThe rapid growth of the Internet and the increasing adoption of technology have revolutionized the business landscape, giving rise to new and innovative business models. 1) Discuss internet business models, analyze the impact of e-commerce on business structures and processes, examine effective web marketing strategies. 2) Evaluate the importance of creating and maintaining brands on the web. 3) Discuss the evolution of payment in e-commerce by providing insight into the foundations of payment systems, the types of payment systems used in e-commerce, and offer mitigation strategies to target the associated threats.arrow_forwardSource: https://www.bizcommunity.com/Print.aspx?l=196&c=168&ct=1&ci=220219 [Accessed 9February 2023]. please read the above a.Companies that focus on gaining customer knowledge and developing insight intothis knowledge, can deepen and extend customer relationships. Advise Clicks, forthem to improve their position, on the information that should be stored within theirdatabase b.To build successful relationships, trust and commitment are required. Advise Clickson how they can improve both trust and commitment between themselves and theircustomers. c.Clicks may choose to conduct a customer satisfaction survey. Explain the benefitsthat a customer satisfaction survey would provide to the brand. Please note this is one question and not mutiple thank youarrow_forward
- multiple1- Organizations that seek the most-qualified executive available for a specific position and are generally on assignment from the company needing a specific type of individual are referred to as A- employment agencies B- job fairs. C- progressive search firms. D-executive search firms. 2-Which of the following provides an example of special event recruiting? A- Internships B- Recruiters. C- Employment agencies D- Job fairs. 3- What is perhaps the most common approach to meeting short-term fluctuations in work volume? A. Overtime B- Subcontracting C- Temporary employees D- Employee leasing. 4- The least-expensive recruitment method that provides the broadest coverage is probably through the use of A- newspaper advertising. B- special events C- recruiters. D- employment agencies.arrow_forwardA new social mobile app you are developing allows users to find friends who are logged in and within a 10-mile radius. This would be categorized as a ________ service. Group of answer choices A.) geoinformational B.) geomapping C.) geosocial service D.) geoadvertisingarrow_forwardthe Internet is teeming with wiki sites or wikifarms hosting countless wiki communities with millions of pages. Popular platforms are Wikia, Wikispaces, PBworks, and Google Sites. All offer free accounts inviting users to browse or start their own wikis on any imaginable topic of interest. One notable online community is Wikibiz on Wikia, which is currently seeking competent business users to edit over 200 articles. It’s not hard to understand how businesses benefit from wikis for providing documentation, establishing a knowledge base, collaborating on and editing articles, and communicating in forums and chats. But what makes a valuable contributor? Whether they contribute to a wiki on the Internet or at work, participants should try to abide by the conventions of polite society, yet even commonsense rules are often broken. Valued users show respect and avoid ambiguous language. They don’t attack or harshly criticize other contributors. They aren’t trolls (annoying individuals who…arrow_forward
- I need answer typing clear urjent no chatgptb A profit-maximizing company uses two gross substitutes - capital and labour - to produci smartphones In the long run, this company faces a lower cost of physical capital what should it do? a. Hire fewer workers. b- Employ less physical capital. c- Hire more workers. d. Decrease the wagearrow_forwardEmployees of a firm are the source of knowledge who enable enterprises to implementthe planned activities. ii. Explain the challenges and obstacles that are likely to affect a firm’sknowledge management.arrow_forward1. Research a selected Internet of Things (IoT) device or devices for your large organization. 2. Explain the strategic use of this IoT device(s) and its diffusion and implementation timeline in your organizational setting. 3. Describe the risks this IoT device poses to future organizational revenue streams, expenses, and security. 4. Conclusionsarrow_forward
- O https://berkeleycollege.instructure.com/courses/25572/discussion_topics/690710 Please be sure to read this week's reading assignment (Chapter 4: "Market Research") before starting this week's discussion Week board. You work for a company that manufactures toothbrushes, and you have been asked to conduct research to determine how the company can increase its toothbrush sales, uts Sales will increase if you can get new customers to use your product and/or get your current customers to purchase more toothbrushes. For this discussion, please answer the following: 1. What type of primary research would you conduct to determine how the company should proceed? Be specific! 2. Who would participate (new customers/current customers) in this research? 3. What information would you seek to get from this research? It is required to respond to my post and to a minimurm of 2 of your classmates' posts by 11:59 PM on Saturday. Additionally, please pay attention to your spelling and grammar! Finally,…arrow_forwardTRUE OR FALSE 1. A missing “how to achieve” plan accelerates sales performance. 2. Geographical structures group together sales jobs and activities being performed in the same location or region. 3. Centralized organizations delegate decision making throughout all levels of management, and decentralized organizations concentrate decision making at the top levels of management.arrow_forwardAllot 45 minutes to watch the complete video. After watching the video write a brief summary. The summary should be a minimum of 250 words and a maximum of 500 words. In the summary, you will briefly describe the three businesses profiled and then select one you believe was the best business. You must support your selection using insights from the readings from your textbook to date. Use the link below to view the episode (New clip): https://abc.com/shows/shark-tank/episode-guide/season-14/16-episode-16arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios