Marketing Plan for Monster based on the 4Ps
Marketing Plan for Monster.com
Monster's business model and go-to-market strategies are continually striving to create disruptive innovation by redefining the economics of online recruitment and career advice. Of the many factors behind the sites' success, the orchestration of the four Ps of marketing including product (or in the case of Monster, a service), pricing, promotion and distribution or place have continually been fine-tuned to increase the advertising value of the site while ensuring employers find valuable candidates.
Evaluating Monster's Product and Services Strategy
Monster was the first recruitment website to provide a depth and breadth of personalization and customization that rivals Amazon in sophistication and ease of use (Burnsed, 2010). Like Amazon, Monster realized early in their history as a company that the continual development and launch of innovative services for both advertisers and job seekers would ensure continually increasing traffic rates to the site over time (Leader-Chivee, Hamilton, Cowan, 2008).
Early in their history Monster also realized that creating innovative services by each stage of the career lifecycle someone was in would be disruptive and very profitable as well (Burnsed, 2010). By concentrating on a lifecycle-based approach to creating and quickly launching services, Monster was able to successfully build online communities, many with over 100,000 members, which also served as a foundation of their advertising and marketing strategies. These communities concentrate on the needs of job applicants for resume-writing advice, support in finding references and creating their own job search strategies. From a product strategy standpoint, creating and updating content on these communities led to further loyalty and commitment to using the site by job seekers across all age categories. The selective use of content at Monster by stage of career cycle significantly increased long-term loyalty and was instrumental in the site continually gaining 3.6M visitors on a regular basis. This volume of traffic ensured their...
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