Selling a New Old Idea: Virginia Business Ventures

Abstract

Elizabeth Franks, CEO of Virginia Business Ventures Inc. (VBV), has a week until her July 2010 board meeting. VBV just completed a six-month marketing and advertising campaign for a new product line and strategic rebranding, and early responses from the board indicated mixed feelings.Franks knows that the board is looking to her for keen analysis and a way forward. What should she recommend? Excerpt UVA-ENT-0193 Rev. Apr. 29, 2019 Selling a New Old Idea: Virginia Business Ventures Introduction Elizabeth Franks, CEO of Virginia Business Ventures Inc. (VBV), looked at the blinking cursor on her computer screen and then back at the clock. She had a week until her July 2010 board meeting—an important one. The company had just completed a six-month marketing and advertising campaign for a new product line and strategic rebranding, and early responses from the board had indicated mixed feelings: some members seemed happy with the results, while others indicated concerns regarding the effort's effectiveness. She knew that the board members were looking to her for analysis of their efforts to date. One year into her job as CEO, she also knew they would be paying particular attention to her marketing and advertising plans. She had to present a strong recommendation about how to allocate marketing dollars and specific steps for the next campaign. Franks also knew she needed to get the meeting materials, including her recommendations, sent off to the board by the end of the day. . . .