Free Case Study About Which Options Would You Choose And Why?
Venturing into business requires many long term considerations. A business is any activity that can lead to the generation of profits. When a company is fully in operation, it reaches a time when new enterprises in the same field come up, posing as threats or accurately competitors. In such a situation, the company must try to maintain its position and to attempt to outdo the newcomers. It involves a series of decisions from given options. We take a case study of eHarmony company. eHarmony deals with online personal sites, and it is on the verge of stiff competition, and a strategic choice must be chosen to help the company retain its place in the industry.
There are four options that the company can consider tactical in coping with the current changes in the industry. There is the option of the company choosing to defend its position as the leading match-making company. eHarmony also has the option of broadening its customer base and increase more categories of daters. The other option is to grow a new business out of its research and development efforts. Finally, eHarmony can seek to expand its geographic coverage. All these alternative options are sound. The most appropriate choice would be trying to defend the company’s position as the leading match-making company in the long term relationship segment in the market. Also, growing a new business based on its research and development efforts is viable.
We can explain in two ways. If eHarmony opts to retain its name and say in the market, it will have to look for ways of handling that choice which may include expanding its geographical coverage. That is one of the options under the strategy that is considerable and hence it is a subset of defending the company’s position. Secondly, growing another business out of the experiences that the enterprise has had will serve to expand its operations out of the main business. It also will help to develop the capital base and diversification of activities.
How will the choices be implemented?
Firstly, eHarmony in its call to defend its position in the industry has several tasks. To start with, they should increase their customer base by providing more categories of daters. Initially, the company only allows single individuals are seeking matches that will lead to marriage. It cuts out other willing clients. The effort should be to outdo what its competitors such as MySpace, Facebook and Yahoo do. That is having no restrictions as to the status of potential customers. Single, married, divorced or even widowed individuals, all should be allowed into the site. Facebook and Yahoo have no restrictions hence they can acquire a broad base of customers.
Additionally, focusing on the neglected sections of the dating market should give new enhancements. eHarmony does not offer services for gay, lesbians or bisexual persons, and there are very few competitor companies doing the same. Introducing niche sites could help cover such individuals which help build up a better base and recognition with no bias. Similarly, focusing on individuals from specific cultures such as Islamic, Hindu and marginalized people such as Africans will strengthen its operations. The explanation is that most of these categories are neglected, and yet they have their contributions to making if included in the services and this keeps the company ahead of its competitors.
The other step is to expand the geographic coverage of the enterprise. Currently eHarmony focuses on mainly the Americans but what if it decided to concentrate on other regions like the Europe, Asia, or even Africa? The answer will be an increase in demand for its services. Most people would prefer to try out new service provider in their region. This extensive coverage brings a lot of popularity to the company which will maintain its status in the industry.
Techniques such as advertising campaigns both online and in other media such as international television networks and radio help create awareness and popularity hence attracting more people.
Reduction in membership subscription charges should be made free or at least affordable to all according to the regions. Online Personals such as Yahoo and Facebook charge no fee at all for persons wishing to join. Such makes such company’s more attractive to most people hence they have more subscribers. If eHarmony takes such an initiative, most of those individuals who had previously been unable to join will have that chance. And the more the clients served the more the returns and continued existence and dominance by the company.
Integration of new business out the researches and development of the enterprise is the other option that will make eHarmony dynamic in a bid to dominate the industry. Designing of new products such as advertising agencies, search engines or even educational platforms like seen in Yahoo could boost the company a significant step. It not only helps to make the company diversified in its activities but also increase its earnings than any other dealers in the same market. Creation of such a new business will in turn attract customers into the main business behind the new one. It also ensures that the company has continued existence.
In conclusion, operating a business requires long-term planning. The plans should be flexible enough to accommodate new changes since situations change every day with time. Such initiatives will aid in helping the company to fit in the newly changed world without strain. Flexibility is necessary, as good decision-making and observation are.
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