Issues – Video Business Case Report: Randstad
In Singapore, Randstad faced some issues in 2012 which could hinder it from becoming a competitive market player. First, the company had low growth rate. The company was growing at 5% while the market was growing at a minimum of 8% hence, Randstad was losing business to the competitors. The 5% growth rate was very low bearing in mind that the Singapore’s economy was doing very well in the global perspective. Video Business Case Report: Randstad.
Second, Randstad had weak brand. The company suffered from weak brand in the local market and they did not have something which they were well known for. As mention by Fifield (2012), branding is very critical in marketing because customers are interested with the brands they are aware. Video Business Case Report: Randstad.
Third, the company did not have a strict strategy to follow and as a result, they conducted general, permanent, and executive recruitment for all industries. Lack of strategy resulted in the company focusing on different industries and sectors without specialization. The company had a lower employee productivity rate as compared to the rivals in the market. The business video case indicates that the performance of their people was 50-60% as compared to the competitors and hence the organization needed more people and increased costs to get high returns. Video Business Case Report: Randstad.
Competitor analysis will be conducted through surveys and in- depth analysis of the competitors. In this case, surveys will be conducted to identify the rivals in the market and the quality of services they offer. These surveys will help Randstad Company to understand its position in the market and hence understand what it can do to match the rivals in the market. Video Business Case Report: Randstad.
Brand awareness will be increased through promotional mix. Electronic, social media, online, and print media should be used to increase brand awareness. Singapore has developed tremendously in terms of the internet technology and hence it is effective to advertise through the internet and social media. Promotional mix will help in creating a unique brand image of the company and increasing brand popularity and hence increase sales because customers are interested in a brand they are aware of. Video Business Case Report: Randstad.
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