HuStream Business Analysis

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High School ・Business ・APA ・3 Sources

Decision-making process needs a deep analysis of the case facts for the purpose of making decisions based on informed opinions (Dubois, Prade, Pirlot, & Bouyysou, 2013). Not forgetting that there can be many alternatives, the decision-making process ensures to recommend the best and most legit decision with the lowest possibility of failure. Since decision-making is centered on taking a risk, this paper addresses the limitations in decision-making when referring to the HuStream Business in order to find out the key leadership decision that the business’s management has to make and the particular corrections necessary to execute the decision. In addition, the paper does not only aim at identifying the business mark and also how it is reached but also focuses on suggesting the new market, propose some of the marketing strategies that the business can employ upon deciding to pursue the new market.

The Key Managerial Decision That Hustream Faces

Analysis of the case study reveals that HuStream as a business with only seven employees is able to offer customizable as well as interactive video production services to the customers. This is realized through employing a service based model. On the other hand, the business plans to diversify its resources into productization through incorporating a product-based model. In this view, the key managerial decision faced by HuStream is how to integrate product based model with services based model.

In order to effectively execute productization, HuStream needs to make some inside adjustment. For example, the entire operations of the HuStream business are run by a workforce of only seven employees. This means that if integration of productization is to be a success, the business will have to employee more employees to counter the increased workload which will stem from the new business line. Further adjustments that the business will have to consider are improving the infrastructure to accommodate information technology requirements and considering partnering with other software development businesses.

Hustream’s Current Target Market and How the Market Is Reached

The current market that is of interest to Hustream business is the education industry, information technology industry. For example, Hustream business delivers services to colleges and universities. The clients are able to use the customized services such as buttons on the respective school websites to enable students to access tailored experiences. The tailored experiences are based on the ability to associate those students with a shorter attention span to gain more from the contents of the website within the shortest periods approximated to be forty-five seconds and less.

HuStream reaches the target through an online marketing basis. For example, HuStream is able to operate its business globally whereby the operations are conducted on the internet through a cloud-based platform. The platform provides the clients with the opportunity to access the HuStream contents such as the interactive videos that were developed for the founding customers to serve as the key success factor. The customers are able to interact with the new feature and various forms of functionality that enable the clients to enjoy a unique experience by being able to put their individual stamps.

Hustream’s New Target Market and Proposed Marketing Strategies

HuStream new target market is massive owing to the opportunities that the new line of business is yet to offer to the potential clients. For example, HuStream new target market includes the entertainment industry, the automobile industry, the hospitality industry, tourism sector, advertisement and sports and landscaping. Moreover, the opportunities created by productization as a complementary business to the service-based model of business can attract new markets in the energy industry , programs the facilitate employees trainings, social affairs such as weddings, computer software developers, online dating and casinos not limited to generic marketing and training activities such as online tutorials and video blogging.

In order to ensure that HuStream Business remains in operation, realizes growth, and develops after incorporating the new business line, there is a great need in making increased profits without affecting the quality and value of the service and products. Hence, effective and evidence-based marketing strategies must be employed to reach and inform the new target audience of the new products that the HuStream would be offering. As such, the new marketing strategies that the business can employ include using the big data to target the new customers. The big data can be used to inform the business of the customer’s purchasing power and trends (Ferrell, & Hartline, 2011). This kind of approach is key in initiating efforts that reach the customers and inform them of the products the business is offering before they begin to search for the products by themselves. Remembering the existing customers and not forgetting that they have sustained the business’s operations is very fundamental (Dobkin, 2008). The existing customers are the very important medium of advertisement is the business can sure of their loyalty hence counts on them to refer others and inform them of the new products. Above all, involve the employees since they understand the customers in the field owing to the fact that they interact with them both virtually and physically.

Conclusion

The case study is very important in understanding the predicaments that managers face when involved in decision-making processes. The decision-making process should be based on facts that assure the decision maker that there are certainly no opportunities for failures once the alternative is adopted and implemented.

References

Dobkin, J. (2008). Direct marketing strategies. Merion Station, PA: Danielle Adams Pub.

Dubois, D., Prade, H., Pirlot, M., & Bouyysou. (2013). Decision Making Process: Concepts and Methods. New York, NY: John Wiley & Sons.

Ferrell, O. C., & Hartline, M. D. (2011). Marketing strategy. Australia: South-Western Cengage Learning.

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