Topic Services Marketing, Case Monster.com Essay

Topic Services Marketing, Case Monster.com - Essay Example In the mid 90s, during the post-recession period in the U.S, big companies started to work on the booming economy by expanding their businesses. Such a move, requisitioned more professionals to be recruited. There was pressure on the recruitment agencies to supply the necessary work force within a short period of time. The recruitment companies were forced to react quickly to cater this huge requirement and started to look at new strategies to sustain this critical stage. There were many types of media existing at that time like the newspapers, Radio, Television, and the Internet. Media, other than internet, had a good reach. Monster.com tried to access the new medium of Internet as an effective channel for recruitment services. The company had to address multitude of problems related to: Customers: On one hand Monster.com had to entice companies to provide them with job vacancies. The initial companies which had provided Monster.com with job postings were the companies for which Monster.com had developed the advertisement designs. However, for Monster.com to attract new clients meant that the company had to prove to its potential clients, the validity of internet as a medium for offering recruitment services. ... Monster.com had chosen Internet as medium owing to the strengths such as high volume of content deliverable, customization of content and reach. Such of the strengths were intended to offset the shortage of time within which the jobs had to be filled. However, with the basic weakness of Internet as a cluttered medium, Monster.com was unable to make the customers access the website amongst the clutter. Competition: Internet was totally a new avenue through which recruitment services were offered. Going by Ansoff's Product / Market Matrix, the mode of Internet was a new medium available in the existing market of recruitment services. The growth strategy called for product development. For making the product competitive, Monster.com made the product cost competitive, the inherent strength of distribution was highlight in the reach of internet, however, Monster.com was not able to penetrate the market share of the then existing products such as Newpaper and Radio. How could Monster.com promote Internet as an effective medium remained a question mark Did Monster.com leverage the existing products such as newspapers for which they were designing the advertisements to complement for the launched of the medium of internet as a value addition is also a question since, Monster.com had independently launched the web medium for recruitment services. Collaboration: Monster.com had support from companies for which they were designing the advertisements. However, there was no collaboration with the existing medium of communication such as newspapers and radio. Study of functioning of some of the major online service giants or recruitment service providers could have benefited Monster.com for standardization of the product. However, Monster.com did have a tie-up