SurveyMonkey in 2014 Harvard Case Solution & Analysis

Survey Monkey in 2014 Case Study Solution 

The case illustrates the entrepreneurial activity of the Finley, who initiated the Survey monkey business model with an aim to offer market survey service to its consumer and especially the large market research companies. From its initiation, the company gained tremendous sales boost and market recognition which expanded the operational capacity beyond the management’s control. Analyzing so, Finley went for partnership with the investment banks that again gauged the market opportunity and growth in the Survey monkey model and initiated the business deal.Over the period of time, the company expanded its operations and introduced the premium and old subscription package for the end users in order to offer and cater the in-depth needs of the market.Though after the acquisition, the financial assistance got fulfilled however, the need to build in house operational base or acquiring a third party services through acquisition raised in order to smoothen the quality and delivery of service.

All in all, Survey Monkey has been exposed to tremendous market opportunity and positive feedback, which has made the management to rethink on the global and local business strategy in order to sustain the business in the competitive environment.

Keywords:  Competitive market, Financial Capacity, Internationalization

INTRODUCTION

Survey monkey is a digital platform that offers the services of market research to other businesses.The company started its operations in later 2000, and after taking the first step and imitation in the market, it faced tremendous   positive feedback from the customers. This made the management to expand the business operations through the need of a partner and went for an IPO.Over the period of time, the company grew from 12 employees to 454 employees with 17 languages on the website interface.In the initial phase, the company offered the market research service in only English, however with the increasing recognition and reputation of the business service, along with the global expansion objective, the company introduced Dutch as the first language after English to serve the service since majority of the organic audience constituted traffic from the Denmark.

Over the period of time, with the increasing operational base and market position, the company increased the capacity by acquiring the competition and other resourceful business in order to increase and delineate the resources effectively to design the right service packages for the end-users.In doing so, it also established the premium model along with gold and platinum subscriptions to offer extended services to other business.

Though the Survey monkey has huge market opportunity and a positive growth rate however, the need for global strategy and sustainable operation is crucial to remain competitive in the market.Since with the increasing reputation and market positioning, the extent of rivalry will increase, the company has to come up with a highly integrated business strategy to maintain its competitive advantage while on the other hand retaining the market share.

Analysis

Should Survey Monkey have sought to acquire an enterprise solution or build one in-house? Given the specific context and team in place, what are the pros and cons of each strategy? 

By analyzing the overall business situation and the growth and opportunity channeled to the Survey monkey business plan, it is better for the company to expand the business through mergers and acquisitions.It is due to the fact, that with moving time and increasing market competition, the threat of imitation and extent of rivalry will increase, which will make the company to expand the operational base continuously in order to remain competitive.However, this does not guarantee that the company will sustain its base in the market since the threat of imitation of business model is eminent in the market.

Also, since with the moving time and increasing product service warmness in the market, the demand for expanded operations will increase.In such market situation, the option to develop in-house capabilities will increase the cost of the company and will threaten it to lose the competitive advantage due to limited market knowledge. However, on the other hand, if the company opt to acquire the businesses in different regions it will provide the Survey monkey with the expertise, staff, resources to operate in different regions, hence leading to controlling cost and also development of consolidated network which is helpful in channeling the adequate resources throughout the value chain.................

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