Presentation on theme: "Trust based on line advisers A soft ware technology to customers select products on the web. Let users have make choices without being pushed to buy. Created."— Presentation transcript:
Trust based on line advisers A soft ware technology to customers select products on the web. Let users have make choices without being pushed to buy. Created by Glen Urban and John Little Introduction
Company overviewThree cofounders Glen Urban-Professor at MIT leading expert of marketing. John Little- Professors at MIT worked on many marketing projects with Glen Urban. Jeffery Stamen- President of Management Decision System, company started by Glen Urban and John Little.
History of Insite Cofounder s self funded the start up company. Invested 450,000 of their own money Hired a MIT alumni, Stefania Nappi 1 st Step to hire a strong knowledgeable team that is small and high quality people Use a limited amount of funds to build prototype Use the prototype to sell the idea and gain additional funding. 2 nd Step was to develop a software that will be user friendly like paying a video game.
Strategy Target Markets Any Sales situation of a product with multiple decision options and desire for individualization of service. Target companies electronics – Dell Computers Financial service- Fidelity Gift goods - iQVC Wholesale computing – CompUSA
Issues Internet new to the consumer Ecommerce in its infancy stages B2C was not as defined as it is today. Buying through the internet was a challenge Information was not as defined as its today Internet was not friendly for the non computer savvy Because of Insite the internet became user friendly
Strengths Strengths Opportunity Marketing experts Understanding the needs of internet consumer B2C Top software engineers Understand the usefulness of the internet for the merchants The opportunity to refined web site browsing Software would offer an unbiased product information to the consumer avoiding brand favortism Brings products to the shopper, rather than the shopper trying to find and distinguish the product themselves.
Weakness Threats Weakness <> Threats PC computer only starting to become common in homes Internet at the time was only a couple of years old Computer savvy people were usually young people and educated. Most business was brick & mortar type. CRM was still working out the bugs of how it was going to service their costumer
Insite was bought by Silknet and Nappi remained as CEO of the subsidiary. Many of the marketing technology behind the Trusted Advisor trickled into other forms of software to help consumer decide for themselves what products or service they want. Walmart, LL Bean, Car Quoting sites, Etrader… Did the idea go away totally