Recruitment Market VPs“Best Place to Work”Identifying a unique VP to communicate to the potentialemployees that a firm is a best place to work
Recruitment Market VPs“Market segmentation”Adopt VPs to target different specific segments ofrecruitment market.
Internal Market VPs“Employee Retention”A winning VP aims at motivating and retaining thoseemployees who are best equipped to help achieve the goals ofthe organization.• Example: Nayatel promotes only the most valuableresources to manager level and binds them with Car, laptopand study loan policies for specific tenures to retain them
Internal Market VPs“Competition Assessment”Employees assess the VP of their employer organization alongwith those of other prospective employee organizations todetermine their choice of employer.
Internal Market VPs“Ethical Initiatives”Ethical and green issues are especially important toemployees
Referral Market VPs“Advocate Initiated”In professional services, a reciprocal referral system iscommon between a firm and other professional advisors
Referral Market VPs“Company Initiated”An organization’s explicit attempt to use its existingcustomers, as a part of its marketing activities, to gain newcustomers.
Referral Market VPs“Viral or Buzz Marketing”It occurs when an innovative VP prompts third parties to actas a referral source
Influence Market VPsDeveloping and communicating a VP to the most importantconstituent members of the influence market includesmanaging relationships with investor groups, analysts, mediaand government bodies. Clear VPs addressing the influencemarket are important for firm stability and growth.• For example, Frito-Lay focuses on a wide range ofinfluencers who impact consumer demand forsnacks, including healthprofessionals, associations, dieticians and academics.
Supplier Market VPsSuppliers typically provide physical resources or services to abusiness.
Alliance Market VPsAlliance partners are also a form of supplier. However, theytypically supply competences and capabilities that are moreknowledge-based.Hotels, restaurants, andtourist businesses poolresources to market theirlocation to prospectivetravelers.