RoyalJob Marketing Essay

free essayRoyalJob focuses on the right and appropriate career advancement. Instead of people finding jobs at a one-search event, RoyalJob offers an opportunity for individuals to not only find, but also advance and develop their personal careers and those of others. In this regard, it can be done through sharing of career goals, socializing with individuals within the same profession, and discussing professional development plans. The RoyalJob company is determined to connect companies in need of new employees and individuals searching for jobs. Such things will likely help employers find and hire the right talents, while the job candidates can have an opportunity to access the right jobs in recruiting agencies. Thus, it is done through the anonymous presentation of only prequalified career chances to members that confirm their interest in addition to recommending others.

RoyalJob focuses on improving people’s lives by helping them gain their career aspirations. The mission statement was conceived in January this year. With the fulfillment of its goals, RoaylJob will help companies in identifying people who will aid in their long-term success. Moreover, it will assist the job seekers in achieving their career aspirations.

Objectives and Goals

1.1 Mission

The RoyalJob’s mission is to aid individuals with their career advancement in addition to improving human resource capital in companies. The RoyalJob’s site will act as a platform for all professionals and career matching unlike the job and resume posting searches.

1.2 Goals:

  • Through marketing blitzes, drive traffic to the website
  • Use satisfied customers to advertise with the help of the word of mouth
  • Build a critical mass of users by using the brand matching technology

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2.1 Products and Services Offered

The RoyalJob Company will provide group profiling services. They will entail users’ self-associating with groups that share development plans. The access to the groups is permission based, which is also similar to social marketing. Members of these groups will have an opportunity to share professional experiences as they view profiles of people they know. Furthermore, RoyalJob will come up with group profiling for business customers who will have an access to members’ groups to target individuals they would like to hire. In this regard, it will connect the potential employer and the job-seeking individuals. Another feature is the user feedback on development plans for professionals. While using this approach, the company will track the data from profile matches of successful members and provide a feedback to members who have not been successfully matched.

2.2 Target Market

RoyalJob has a large market base, given the loopholes that exist. Many professionals in the US are missing jobs, while a substantial number of employers claim that they fail to find the right people for their jobs. In February, 2016, the US unemployment rate was 4.9%, but it has increased to 5.0% in March (US Department of Labor, 2016). In addition, employers face a substantial challenge in getting the right people to do given jobs. Cappelli (2011) reports that 52% of the US companies have difficulties in filling jobs. Some of them say that they find unsuitable employees for the available jobs. RoyalJob will take this advantage to target both individuals seeking jobs and employers in search of the most appropriate candidates for the available employment opportunities in the US. By sustaining this focus, the company will gain a mass of users to not only increase the employment opportunities’ access for job seekers, but also for employing institutions.

2.2.1 Individual Customers

This group of customers is the chief source of data for RoyalJob, but they do not pay for services. RoyalJob will put a focus on building an individual member base ranging from graduates to those who have been employed.

2.2.2 Business Customers

These clients will provide RoyalJob with the revenue. The focus of RoyalJob will be on both small and medium businesses. The direct customers of these firms will be human resource managers who have the responsibility of outsourcing candidates and functional area managers who often need new talents for their teams.

3.1 Individual Candidates

Individual customers will favor RoyalJob due to its outstanding career advance platform, whereby individuals will enthusiastically create a history. Thus, it will enable them to gain connections with invited friends, mentors, and coworkers, something that will make RoyalJob obtain a position among the favorite websites. RoyalJob will provide career opportunities and professional development plans that will help people in creating a professional record as well as valuable career advancement tools. Such a thing will put RoyalJob at a better competitive advantage.

3.2 Business Customers

RoyalJob will ease the process of online sourcing and qualification of the job seeking candidates. It will be realized by not only prequalifying candidates, but also seeking for recommendations for the hard-to-find persons in addition to delivering the most qualified candidates with the pre-confirmed interest for available job positions.

Situation and Market Analysis

4.1 Situation Analysis

An online recruitment is a system that companies employ the use of the Web in locating and qualifying prospective candidates for the existing job positions. This method is utilized by online recruiting businesses to serve their market. It involves providing employing companies an opportunity to locate and find the right candidates for available job positions and link individual customers with the right companies that are offering jobs among many others. The common objective of the online recruitment is to find candidates who would not be found by the use of traditional methods of recruitment as well as use the power of computer in easily qualifying candidates, which would be considerably difficult when using manual methods.

4.2 Market Analysis

4.2.1 Market Size

A substantial percentage of the US population lacks jobs. The US Department of Labor (2016) asserts that in March, 2016, the unemployment rate stood at 5.0%. Since the current US population is more than 323,995,000 people, then the unemployed population represents over 15.8 million people. Such a number is large to a considerable degree, meaning that all these people are in search for jobs. They may likely use different platforms in search of the jobs, one of them being online trading, employed by RoyalJob.

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Table 1. Household data, seasonally adjusted (US Department of Labor, 2016)

Calendar GMT Reference Actual Previous Consensus
2016-02-05 01:30 PM Jan 4.9% 5% 5%
2016-03-04 01:30 PM Feb 4.9% 4.9% 4.9%
2016-04-01 12:30 PM Mar 5% 4.9% 5.0%

On the other hand, in the US, employing companies find it difficult to get the right candidates for available jobs. For instance, the US businesses face difficulties in filling in different vacancies (Cappelli, 2011). Some of them report of finding the ‘wrong’ professionals for their jobs. Therefore, they may be eager to find the right candidates. RoyalJob is likely to benefit from this, since it provides a platform for connecting the right candidates with the employing companies. In this regard, about 94% of recruiters are turning to the Internet for searching the right workers (Medved, 2014). Such a population may benefit RoyalJob to a substantial degree.

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4.2.2 Market Growth

On the other hand, the number of people using the Internet is immense and keeps growing. Over the half of workers in the US are either seeking or open to new jobs (Medved, 2014). In addition, 89% of those who are recruiting have hired their employees with the help of the Internet (Medved, 2014). These figures are indicative of how people and companies are turning to the web for employment and hiring respectively. Moreover, recruitment through the online forum is substantially growing. The online recruitment in the US will increase by 5.45% at the end of 2016, especially when compared with that of 2012 (Sargar, 2014). The growth rate is likely to grow further in the future as more people turn to the Internet in this regard. RoyalJob will capitalize on this to gain a mass of customers.

4.2.3 Market Needs

Time saving: Companies are in need of recruitment strategies that will take the shortest time possible for the completion of the hiring and recruitment process. It will allow saving not only time but also resources.

The right candidate and the right job: Most companies are in need of the most appropriate individuals to fill in their vacant positions. It may not be just a matter of experience and willingness to work, but also the required skills for the job position.

SWOT Analysis

Strengths

RoyalJob will draw the best and universally accepted practices in the industry of online marketing, including online recruitment, feedback, as well as social and professional networking. Matching candidates and employing companies align with the business objectives. It will further partner with software developers in coming up with the best software that will enhance its operational activities as a start-up company. On the other hand, the combined talents of the human resource, sales, and marketing teams, the founder, and many other members of the company will help RoyalJob in growing to a substantial degree.

Weaknesses

As a starting company, RoyalJob does not have enough resources essential in the process of attracting competent and influential industry managers. In addition, it is hard to guarantee a critical mass of website users, since it must prove to be effective in terms of the employment for it to gain fame among customers. RoyalJob is targeting many businesses and individuals; thus, it may result in the inability to customize each segment for specific users.

Opportunities

Demand for the right candidates to fill vacant job positions is high. Furthermore, most online marketers do not have the profession focused on job matching that RoyalJob intends to provide. In addition, the online recruitment is growing fast. Moreover, many people are in search for jobs, while recruiters are in search for the right candidates for the available employment opportunities.

Threats

Competitors are already in the market, and since RoyalJob is a startup, it may find difficulties in outcompeting them. Although IP protection strategies will be employed, RoyalJob’s work models may be a problem, since some of the competitors are likely to copy or mimic them if they prove efficient and effective.

4.2.5 Competition

Online recruiting websites compete, since most of them target the same customers who seek for jobs as well as companies that look for candidates. RoyalJob will get the competition from various company websites. According to Fertig (2015), employing companies have websites, through which they advertise their vacant job positions and perform recruitment services. Furthermore, the already existing and well-established job boards are likely to be fierce competitors. The most prominent ones in the US are Monster and CareerBuilder (Fertig, 2015). Monster has over 43 million professional viewers, and CareerBuilder has registered a 75% growth in the recent five years. Such established competitors are a substantial challenge for the new company.

How It Works

Marketing Strategies

5.1 Pricing

Other than the basic pricing schedule, RoyalJob will offer both bulk and contract pricing to its customers; thus, the overall model in this regard will be constant. However, the analysis of feedback from customers will lead to changes that will suit customers’ requirements and needs. In attracting new clients, RoyalJob will offer a promotional pricing.

5.2 Promotion

The promotion will aim at attracting a large number of users to access the websites, so that RoyalJob can spread its services to a large population in the US.

5.2.1 Strategic Alliances

RoyalJob looks forward to offering products, which complement those of other large companies. It aims at forming partnerships with higher institutions that act as sources for new job seekers. Furthermore, it will partner with professional bodies, online associations and groups, as well as professional service firms. Strategic alliances are likely to increase the public exposure and user base in addition to enhancing revenue offerings as product offerings expand.

5.2.2 Blogger community

RoyalJob intends to invite influential blog users for the latter to have a full access to the website. Such users will have a link with RoyalJob, which will help them share opinions with not only job seekers, but also recruiters and the investment community.

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5.2.3 Public profiling

RoyalJob will increase its Web presence with the help of specific strategies such as the contribution of articles to recruitment publishers and public profiling of its founders on many websites, including LinkedIn.

Conclusion

RoyalJob seeks to match job seekers with their employers who are in need of the right candidates to fill vacant job positions. The website also intends to provide a forum for the career advancement and professional interaction among others. RoyalJob will enter this field to help address the gap between the job seeking individuals and the business organizations that are in search for appropriate professionals. This area seems emulative due to the already existing competitors, but RoyalJob has some strategies that will enhance its coexistence in the market.