Application development in the asset management startup : customization vs building a core product

Abstract

A substantial number of customers are now requesting that companies produce more versatile products in order to meet their needs. Depending on the development stage, companies tend to choose the most suitable way of operation: startup companies usually offer more customized solutions, whereas more established companies try to build a core product that would satisfy the majority of needs. At the same time, companies are aiming to gain and retain customers.

The research is based on a case study. The purpose of this research is to determine which strategy is preferable for the company in question: customization or building a core product. In addition, it is explored what is the optimal strategy to gain and retain customers for the startup in asset management and for a SaaS company operating in the field of asset management. The outcome of this thesis work is the proposition of the most feasible operating strategy for the company in question. Moreover, the author suggests the most optimal way to gain and retain customers for a startup asset management company and for a SaaS company operating in property asset management.