Compose a 1250 words assignment on competitive positioning and strategy of recruitment advertising.
Compose a 1250 words assignment on competitive positioning and strategy of recruitment advertising. Needs to be plagiarism free! According to the graph, the perceived price has been increasing over the past few years. The local newspaper is positioned at a higher position with respect to the line that represents the perceived price and perceived use-value. It is clear that the perceived price of giving recruitment advertisements in the local newspaper is much higher than recruitment websites, other local press, and company websites. However, the perceived price regarding local advertising is lower than various trade publications, national press, local radio, etc. On the other hand, the perceived use-value of a local newspaper is higher than most of the other players, except for the recruitment publication. Overall it can be said that the local newspaper is ahead of its competitors like trade publications, national press, and local radio. However, now it is facing tough challenges from players like recruitment publications, company website, and other local press.
In order to stay ahead in the competition and to maintain sustainable revenue for a long period of time, the newspaper needs to find out various strategic options that it can capitalize on. Various options include market penetration, product development, market development, and diversification. Theoretically, market penetration can be done by increasing the volume of sales of the existing products in the existing market. In the case of this newspaper, the product is the advertisement space. As a result, these spaces must be sold in more numbers to the existing customer base in order to penetrate the market more deeply. This can be achieved by increasing the number of direct marketing executives and by giving proper training to these marketing personals so that they can increase their efficiency. Advertisement spaces must also be properly promoted. Spaces can be advertised in the newspaper itself. Electronic media, especially the internet can also be used. .Moreover attractive price discounts can be given to those organizations that choose the newspaper frequently. .