PeopleWorks Human Resource Consulting

2015

PeopleWorks Human Resource Consulting

Marketing Plan

Produced by: Wensin (Minerva) Chang, Demetria Chatters, Jansen Hokianto & Kristian Moeller

MBA 525 Applied Marketing Instructor: Gregg Arnold 6/9/2015

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Table of Contents

Executive Summary

2

Situational Analysis

Market Summary

3

Product Offering and Objectives

5

The Competitive Environment

7

PESTLE Analysis

8

SWOT Analysis

10

Objectives

12

Strategies

Marketing Mix

12

Product

12

Pricing

13

Distribution

14

Marketing Communications

14

Target Markets

15

Integration Diagram

17

Positioning

18

Market Research Needed

19

Tactics

Tactics Diagram

20

Tactics Recommendations

21

Projected Timeline

26

Budget Projections

27

Next Steps

32

References

33

Appendix

36

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Executive Summary PeopleWorks is a small human resource consulting firm located in Seattle, Washington and offering the full range of outsourced HR services. Their target market includes small and medium sized businesses, with less than two hundred employees, located in the Seattle-BellevueTacoma area of the Puget Sound region. Their competition consists of primarily small regional firms and a few large national/multinational firms with both HR and BPO offerings. The HR Consulting industry outlook is positive, showing steady and sustained growth, with industry revenues projected to increase by an average of 3.3% annually between 2015 and 2020. The objectives of this marketing plan are to increase revenue by 4% per month and to exceed the WA state industry average revenue per consultant by 20% during the 2016 business cycle. Further objectives include elevating brand awareness, increasing network, and establishing an internet and social media presence. To meet these objectives, we recommend employing a marketing communications plan which has a projected cost of $42,000 and will yield a projected net operating profit of approximately $260,000. The plan recommends utilizing the following tactics: ? Establish a new website with a geo-targeted SEO package. ? Establish social media pages on Facebook, Twitter, and YouTube. ? Redesign and update printed marketing materials ? Annual listing in the SHRM business directory. ? Engage in subject matter expert (SME) activities and podcasting for media consumption. ? Utilize geo-targeted display ad space with LinkedIn. ? Publish geo-targeted and phrase targeted in stream commercials on YouTube. ? Run print advertising in the Puget Sound Business Journal and Seattle Business Magazine in conjunction with presentations and displays at regional/local Trade Shows.

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Situational Analysis Market Summary

The shift in the US economy from being manufacturing-based to service-based has resulted in a service-oriented approach being implemented across many facets of business and industries (Marshall & Johnston, 2015). In the Human Resources industry, this has resulted in greater importance being placed on employee relations, benefits, communication, recruitment, and retention (Edwards, 2014). This creates an opportunity for HR Consulting firms as companies are increasingly seeking their services to provide expertise in these critical areas.

? Competition consists primarily of two sources. o In-house human resource departments o Small, specialized firms with 4 or fewer employees

? Industry is dominated by small firms: nearly 70% (C. Barnes & Co. , 2014)

2015: Employee Size - HR Consulting Establishments in Seattle-Tacoma-Bellevue Area

15% 7% 9%

69%

1-4 Employees 5-9 Employees 10-19 Employees 20+ Employees

(C. Barnes & Co. , 2014)

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? Large firms offer broader range of services (Human Resource Outsourcing- HRO & Business Process Outsourcing - BPO) and target larger businesses with at least 50+ employees o Automatic Data Processing Inc. (ADP) with 1.2% industry wide estimated market share. o Aon Hewitt with 0.7% industry wide estimated market share

? 3.2% Establishment growth rate projected from 2014 to 2015 (C. Barnes & Co. , 2014; Edwards, 2014)

Total HR Consulting Establishments

2014

2015

Washington State

207

214

Seattle-Tacoma-Bellevue Area 152

156

(C. Barnes & Co. , 2014)

? Industry outlook is positive and shows steady and sustained growth ? Industry revenue has increased by 35% from 2000 to 2014

o This includes a temporary industry-wide contraction during the Great Recession (2008-2010).

? 2015 Total industry revenues projected at $28.1 billion ? 3.3% average annual increase in revenue forecasted between 2015 and 2020.

(C. Barnes & Co. , 2014; Edwards, 2014)

HR Consulting Industry Revenue (in Millions) 6 Year Outlook

34000 33000 32000 31000 30000 29000 28000 27000 26000 25000

2015

2016

2017

2018

2019

2020

(Edwards, 2014)

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