Total Length: 2018 words ( 7 double-spaced pages)
Total Sources: 3
Page 1 of 7
Estimated Sales
TABLE 1 - COMPANY EXPECTED SALES
Indicator
Hired candidates
Average candidate annual salary
Company commission (15%)
V. Marketing Plan
The marketing plan includes pricing, the promotion, the product and the placement strategies all of which are meant to increase product/service awareness.
Pricing strategy
Despite being an innovative business concept, the Intellectual Vanity Fair is a start-up company, that doesn't enjoy product notoriety among employers. Therefore, the market entry pricing strategy will be to charge below market practices, namely 15%-20% of expected base salary of future employee, market averages being around 20%-30%. Additionally, as a guarantee of high quality services, if the hired employee leaves its position within 90 days from the hiring date, the company will find a replacement at no extra cost for the client.
Promotion strategy
The official launching will be organized at the Head Hunting Festival 2009, where the company will have a general presentation of the business concept and will distribute flyers and business cards to all participants.
To attract companies to participate in the initial research phase of the business concept, the Intellectual Vanity Fair will organize individual presentations to major players in the it market and distribute promotional materials to them.
Product strategy
The company will sell recruiting services with 90-days guarantee on the service.
Placement strategy
The fairs will be organized in large university cities to attract a large number of candidates and the headquarters will be in Sidney, Australia as this is a major business center.
VI. Proposed Company Offering
The main costs will be associated with personnel and promotional activities.TABLE 2 - PERSONNEL EXPECTED COSTS
Position
No of employees
Average Monthly Salary ($)
No of months
Executive manager
Senior BA
Senior PR
Financial manager
Contract-based analysts
An additional monthly $5,000/monthly will be allocated to promotional activities and $4,000 to rent costs.
TABLE 3 - KEY FINANCIAL FIGURES
Key indicators
Expected costs
Expected sales
Gross profit
Reference List
Amble, Brian. "Recruitment & retention problems on the rise." Management Issues, 2004: 12-15.
Australian Bureau of Statistics. Labour Force Australia. October 2008.
Bowden, Bob. Hiring costs being underestimated by Australian businesses. 14 March 2007.
HP Philanthropy and Education Annual Report. 2005.
A www.hp.com
Kandola, Rajvinder, Robert Wood, Bindi Dholakia and Caron Keane. The Graduate Recruitment Manual. Gower Publishing Company, 2001
Lencioni, Patrick. The Three Signs of a Miserable Job: A Fable for Managers (and their Employees). Jossey-Bass, 2007.
Microsoft Corporation. Microsoft Invests in Strategic Alliance with CareerBuilder. 09, 1999. http://www.microsoft.com/presspass/press/1999/may99/careerpr.mspx (accessed 10-17, 2008)
Midler, David. Downtown Business Recruitment. Lulu, 2005.
Thornton, Grant. International Business Report 2008 - Country Focus. 2008. http://www.grantthornton.com.au (Accessed Nov 2008).
Intellectual Vanity Fair
The Australian employment has had an upward trend in absolute values since 1998 until 2008, rising from 8,674,900 individuals in October 1998 to 10,752,800 in October 2008.
Substitutes
Internet job search engines.
Traditional recruitment companies, with already established client portfolios
Positive implications
Negative implications
Rivalry
Specialized recruiting companies focused on certain jobs
Major players in the industry
Buyers
Giant it companies interested in recruiting highly skilled personnel
Suppliers
Business analysts - to….....