The Halcyon Group: A Case of Relationship Marketing and Partnership Building
Sales Promotion/ Retailing
This paper explores critical success factors employed in the process of creating and developing an technology business involved with innovative financial analysis software along with the key role of a business school in both testing then strategizing the marketing of the software into the classroom and academic marketplace respectively. It also discusses the role of relationship marketing in the creation and development process. These factors were essential to business development and success both in regard to the entrepreneurial leadership within the business, the marketing strategy relative to the academic marketplace, the staffing of the business with graduates of the college, economic development issues in the region at that time, and the technological revolution that provided the opportunity for financial analysis software to be both created and nurtured at that time. The philosophical underpinning for these processes is a need to build bridges (or relationships) as opposed to moats with both internal and external partners and stakeholders. As in previous papers, we began with the use of goals as well as current and potential champions or partners and relationships essential to accomplish these goals. We defined champions as those individuals whose individual goals appeared congruent with the goals and processes. Even though the entrepreneurs in this case may not have performed a complete SWOT analysis, they did identify obstacles to the process especially the lack of talent critical for software design and business start-up. They then considered the need to enhance external relationships/partnerships in order to overcome resistance to this new financial analysis software in small business and related economic development constituencies.
Among the critical success factors discussed in this historical focused paper is the importance of identifying then developing relationships needed for successful creation and development of this software related business, and the related threats to a new business model. It is without any doubt that the quality of these relationships was an important determinant of success, used to both remove threats to the concept and to cultivate sources of markets and customers for the software. Several relationship marketing processes are discussed in this paper, including faculty advocates of the software development within a local liberal arts college, small business economic development experts in the region, and potential consumers of these kinds of analytical tools especially those with an interest in small business/entrepreneurship and state economic development.
Copyright Statement / License for Reuse
Digital Commons@Georgia Southern License
Rudd, Howard Frederick Jr.; Brinson, Robert J. Sr.; and Kent, Tom, "The Halcyon Group: A Case of Relationship Marketing and Partnership Building" (2012). Association of Marketing Theory and Practice Proceedings 2012. 56.