Marketing Plan Guidelines And Sample Page 10
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19Assessing the Marketplace
72
Section One
3.1.2. Market Growth
PeopleAhead will operate in the online recruitment market. The growth of this industry is
subject to two primary constraints: U.S. economic health and online recruitment advertise-
ment adoption rates. Understanding these constraints will help identify PeopleAhead’s
An0ther visually attractive
opportunity. General indicators suggest the U.S. economy (GDP) will grow at an average
graph summarizes compli-
annual rate of 4% for the next decade.
7
Online recruitment advertising is expected to grow
cated information easily. The
by 35% per year to reach $7.6 billion by 2010.
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Not only is the market expanding, but it is
use of high-quality color can
exhibiting rapid adoption by new entities, as the following graph shows.
9
add a professional feel to a
marketing plan.
Recruitment advertisement industry growth
Revenue
ue
$10B
0B
8
6
$7.6B
$5.9B
4
$4.4B
$3.3B
2
$2.4B
$1.8B
$1.3B 3
0
2004 2005
2006
2007
2008
2009
2010
Main competitors: Monster, r
Total recruitment advertisement
CareerBuilder, and Yahoo/HotJobs
Y Y
Total online recruitment market
3.1.3. Market Needs
• The right person for the right position: The right employee for one company or
position is not the same for all others. Not only must companies locate intelligent
individuals with relevant experience, but they also prefer people who are aligned
with the position requirements in terms of personality, competencies, and fi t with
the company culture.
• Prescreening qualifi cation tools: Increasing the number of candidates through on-
line recruitment can be advantageous, but it can also be a hindrance. When sourcing
candidates, recruiters need tools that help them qualify applicants.
• Time savings: Companies need to complete the online sourcing and qualifi cation of
candidates quickly. Leaving positions unfi lled can cause critical performance gaps to
emerge within the company.
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