Money Market Quotation Service

Firm:
The company was a NYSE-listed $1 billion vendor of real-time financial information with a monopoly position providing domestic money market quotations via a worldwide electronic communications network. AT&T’s divestiture and deregulation of financial markets threatened to erode the 50% pretax profit margins the firm had enjoyed since 1978. The company embarked on a crash program of new product development, including an OEM arrangement with the manufacturer of a wireless device operating on FM sub-carrier.

Project:
Launch a wireless money market quotation service in the firm's largest market, Manhattan, on a expedited basis. The OEM manufacturing contract was valued at $2.4 million and included onerous time and volume targets to preserve exclusive marketing rights.

Results:
Launched the first wireless money market quotation service, managing a 20 person in-house team. Working with chief engineer, stretched contract terms to incorporate all measurements for effective beta testing, allowing accelerated launch schedule. Identified target segment, structured pricing, sales commission, lease terms, security codes, distribution, maintenance and customer service programs. Selected and registered trade name, defined required user and internal documentation, developed promotional materials, conducted sales training, organized and managed introductory events.