Report on

Study of Monster.com

Submitted to:

Mr. Jaya Ram Gautam

Submitted by:

Kanchan Das

Kshitiz Kumar Neupane

Malaika Prajapati

BBA Sixth Semester

September 5, 2015

Everest College

Thapathali

1

Acknowledgement

We would like to express our deepest appreciation to all those who provide us the possibility to compete this report. A special gratitude we give to our teacher Mr. Jaya Ram Gautam, whose contribution in suggestions and encouragement helped us to coordinate especially writing this report.

Special thanks go to all team mates, who really worked to assemble the parts of the report and gave suggestions and ideas about task. Last but not the least, many thanks go to the Everest College. We have to appreciate their guidance especially in our project presentation that has improved our presentation skills thanks to their comment and advices

2

Table of Contents

ACKNOWLEDGEMENT................................................................................................................................. 2

CHAPTER 1...................................................................................................................................................... 4

CONCEPT....................................................................................................................................................................4E-COMMERCE..........................................................................................................................................................4HISTORY OF E-COMMERCE......................................................................................................................................4WHERE DOES E-COMMERCE TAKE PLACE?...............................................................................................................55 E-COMMERCE TRENDS TO WATCH IN 2015............................................................................................................5SIGNIFICANCE OF E-COMMERCE...............................................................................................................................6TYPES OF E-COMMERCE..........................................................................................................................................8

CHAPTER 2...................................................................................................................................................... 9

INTRODUCTION TO MONSTER.COM...........................................................................................................................9HISTORY OF MONSTER.COM.....................................................................................................................................9MONSTER'S MISSION..............................................................................................................................................10MONSTER'S VALUES:.............................................................................................................................................10HOW DO PRODUCT PROCESS...................................................................................................................................11AVAILABLE RESOURCES OF THE COMPANY............................................................................................................16BUSINESS EXPANSION OF MONSTER.COM...............................................................................................................18

CHAPTER 3.................................................................................................................................................... 19

E -PAYMENT................................................................................................................................................... 19

MAJOR TRENDS IN E-COMMERCE PAYMENTS 2013–2014.....................................................................................19PAYMENT TYPES ACCEPTED BY MONSTER.COM.....................................................................................................19

BIBLIOGRAPHY............................................................................................................................................ 22

3

Chapter 1

Concept

E-CommerceElectronic commerce or ecommerce is a term for any type of business, or commercial transaction that involves the transfer of information across the Internet. The use internet, the web and apps to transact the business. Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. More formally, digitally enabled transactions between and among organizations and individuals. Digitally enabled transactions include all transactions mediated by digital technology.

Examples of ecommerce are:

a) Online Shoppingb) Electronic paymentsc) Online auctionsd) Internet Bankinge) Online Ticketing

History of E-CommerceOne of the most popular activities on the Web is shopping. It has much allure in it — you can shop at your leisure, anytime, and in your pajamas. Literally anyone can have their pages built to display their specific goods and services.

History of ecommerce dates back to the invention of the very old notion of "sell and buy", electricity, cables, computers, modems, and the Internet. Ecommerce became possible in 1995 when the Internet was opened to commercial use. Since that date thousands of businesses have taken up residence at web sites.

At first, the term ecommerce meant the process of execution of commercial transactions electronically with the help of the leading technologies such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) which gave an opportunity for users to exchange business information and do electronic transactions. The ability to use these technologies appeared in the late 1970s and allowed business companies and organizations to send commercial documentation electronically.

4

Although the Internet began to advance in popularity among the general public in 1994, it took approximately four years to develop the security protocols (for example, HTTP) and DSL which allowed rapid access and a persistent connection to the Internet. In 2000 a great number of business companies in the United States and Western Europe represented their services in the World Wide Web. At this time the meaning of the word ecommerce was changed. People began to define the term ecommerce as the process of purchasing g of available goods and services over the Internet using secure connections and electronic payment services. By the end of 2001, the largest form of ecommerce, Business-to-Business (B2B) model, had around $700 billion in transactions.

Where does e-commerce take place?E-commerce is offered to all users via the internet, to internal users via an intranet (similar to the internet, an intranet is a smaller network of computers usually within a single organization), and to specified users via an extranet (an intranet partially accessible to specified users from outside an organization via a valid username and password).

5 e-commerce trends to watch in 2015

Mobile will be a major player:

o While many people use their computers to make Internet purchases, a growing

segment of consumers are relying on their smartphones and tablets to buy

products online as well. According to BestDesignTuts, mobile devices contributed

to $4.7 billion in e-commerce. Currently, 1 in 10 consumers use their tablets or

smartphones to make purchases. In addition, ShopSocially, citing data from a

survey conducted by Shopify, wrote that percentage of all e-commerce

traffic originates from mobile.

More people will shop using apps:

o Those owning tablets and smartphones likely have multiple applications installed

on their devices. As it relates to e-commerce, last year, consumers not only used

these apps to research products and services offered by retailers, but they made

purchases inside of them as well. E-commerce brands that don't have an app

should consider having one developed, while those that do need to make sure that

people can use them to complete their buying transactions.

5

Increased use of visuals:

o One of the major differences between shopping online and inside of a brick-and-

mortar location is that it is impossible to handle and inspect merchandise before

making a purchasing decision. This has led to a frustration in many instances as

some consumers have been dissatisfied with items after receipt because what they

bought didn't meet their expectations. As such, many online retailers will place an

increased importance on the use of high quality images that deliver a more

interactive and visually appealing experience for Internet shoppers. This strategy

can lead to increased revenue generation due to the average order sizes being

larger.

Social media will be used more frequently:

o The Internet has made it possible for brands to reach a wide range of consumers,

essentially at the touch of a button. In fact, social networks have become a

popular channel for advertising. Many e-commerce companies will leverage sites

like Twitter, Facebook and Instagram to get people's attention and draw them in

to their online shopping portals.

Cross-device tracking to be closely monitored:

o These days, it's not uncommon for consumers to start a transaction on one device

and complete it using another. As such, e-commerce brands will begin paying

careful attention to which gadgets people use to complete purchases, the times in

which these purchases are made, and the average order size in virtual shopping

carts to develop a strategy to not only improve sales, but determine which

platform is more ideal for marketing purposes to raise conversion percentages.

6

Significance of E-commerce

1. Save time and effort

Today's clients appreciate the value of time and put it at the forefront of anything else and want to be able to follow up business in the best time of their convenience, it is through Web sites that customers can place orders in any time they want the customer can shopping 24 hours a day and throughout the year, and any place where there is no need for an effort to go to a specific place to buy he needs.

2. Freedom of choice

E-Trade offers multiple options for the consumer because the Internet contain  endless number of different topics and locations , services and users can access throughout the world It thus allows rationalization of the decisions taken by consumers due to its large number of sites of the flow of information in a timely and coordinated manner and accurate, allowing easy comparison between products and services Both in terms of price or quality or method of payment, and the time required to receive the required item or service and electronic commerce is particularly important for consumers in developing countries, where it can overcome the traditional barriers of distance and lack of information.

3. Export Development

Electronic commerce has become affect the economies of the countries positively to its ability to generate financial returns from outside the state of export. E-Trade is the key to export to the outside and opened the way for many institutions to exceed local and regional borders and compete in world markets. It thus overcomes geographical barriers and transport and communication barriers because its  working to create wide opportunities to enter new markets outside the borders of the state and opening up to the large markets of consumers who aspire to get to know new products and goods is their local products .

7

4. Websites can promote national tourism electronically

Websites can play an important positive role to promote tourism through the establishment of national specialized sites for state the advantage of the tourist sites and hotels and archeological and give full details on the elements of tourism in this country. tourist when he sees these sites wherever he is he‘ll attracted to visit these places, so we should pay attention to these websites with all the elements of national tourism Tourist should know everything about the country who will go to Electronically before moving from his place and sometimes wants to see a picture of a room that will come down at the hotel.

5. Locate the product quickerIt is no longer about pushing a shopping cart to the correct aisle, or scouting for the desired product. On an ecommerce website, customers can click through intuitive navigation or use a search box to immediately narrow down their product search. Some websites remember customer preferences and shopping lists to facilitate repeat purchase

6. Provide Comparison ShoppingEcommerce facilitates comparison shopping. There are several online services that allow customers to browse multiple ecommerce merchants and find the best prices.

Types of E-CommerceEcommerce is basically classified into various types on the basis of nature of participants, they are:

a. Business to Business Ecommerce(B2B)

Companies doing business with each other such as manufacturers selling to distributors and wholesalers selling to retailers. Pricing is based on quantity of order and is often negotiable. An example of a B2B site would be a car part company selling parts to a car dealership, another company, rather than directly to consumers.

b. Business to Consumer Ecommerce (B2C)

The most widely recognized form of e-business, B2C is the exchange of information, products or services taking place between a business and a consumer over the

8

internet. An example of a B2C only site is amazon.com. Ae.com is an example of a B2C site housing a physical location as well.

c. Business to Government (B2G)

B2G is the online exchange of information and transactions between businesses and government agencies, also known as e-government. B2G allows government agencies and businesses to use electronic means to conduct business and interact with each other over the internet. An example of B2G site would be one that offers electronic tax filing.

d. Consumer to Consumer Ecommerce (C2C)

Consumer-to-Consumer (C2C) type e-commerce encompasses all electronic transactions of goods or services conducted between consumers. Generally, these transactions are conducted through a third party, which provides the online platform where the transactions are actually carried out.

9

Chapter 2

Introduction to Monster.com

Monster is a global online employment solution for people seeking jobs and the employers who need great people. It has been doing this for more than 20 years, and has expanded its roots as a "job board" to a global provider of a full array of job seeking, career management, recruitment and talent management products and services.

At the heart of its success and its future is innovation: It is changing the way people think about work, and it is helping them actively improve their lives and their workforce performance with new technology, tools and practices.

Monster.com is one of the most visited employment websites in the United States and one of the largest in the world. It is owned and operated by Monster Worldwide, Inc. It was created in 1999 by the merger of The Monster Board (TMB) and Online Career Center (OCC), which were two of the first and most popular career web sites on the Internet. Monster is primarily used to help those seeking work to find job openings that match their skills and location.

Monster.com is one of the most trafficked employment websites in the United States as ranked by Alexa (see the Alexa ranking in the info box to the right, as compared to other employment websites). Monster.com is one of the largest job search engines in the world. In 2008, Monster had over a million job postings at any time and over 1 million resumes, in the database and over 63 million job seekers per month. The company has approximately 5,000 employees on its payroll in 36 countries. Its headquarters is in New York.

History of Monster.comMonster.com, the flagship product of the Interactive Division of TMP Worldwide, is the leading global career website with over 12 million unique visitors per month and has a dominating market share of 50.5 percent (Hernandez, 2002). Monster was initially created as the Monster Board in 1994 by Jeff Taylor but changed to Monster.com as it is known today in January 1999 when the Monster Board and Online Career Center joined and became the leaders in the on-line career space (Hernandez, 2002).

10

Monster's MissionTo help people find better. Not only at work, but in life.

Monster's Promise

Monster pioneered the notion of helping people get more out of work by showing them that a better job was out there.

But the workplace has evolved – people expect more control; people seek more perspective; people crave more enrichment.

And so we've evolved. We've broadened our lens to be more than just a job board.

At Monster, we don't just sell better jobs, we help promote better lives.

Because, in the end, a better job is about much more. A better job is a better experience; an experience that leads to better possibilities, better opportunities, better relationships, better perspectives — all working together to improve life along the way.

So, simply put, our mission is to inspire people to improve their lives.

Monster's Values:

One Monster, Indivisible

We are a global organization of diverse people and audiences. But we will succeed when we act as one. One group of highly motivated, totally accountable individuals unified in our vision and actions.

Before Us, the Customer

Our organization's lifeblood is our customers and our consumers. Without them, there is no us. We will measure their satisfaction and loyalty and we will treat them as though our professional lives depend on them.

Do the Right Thing

Every decision and action is an opportunity to demonstrate our collective integrity. In that spirit, we will live up to all of our values. We will not tolerate unethical behavior. And we will support each other by doing what's right.

11

Innovate Relentlessly

As a technology-enabled enterprise, we must drive innovation in order to grow and to prevent others from copying our success. To that end, we will question the status quo, we will think big and we will innovate through the lens of our customers and consumers. And we will be relentless in execution to make innovative thinking a reality.

Excellence, Served Daily

We will reach our potential as an organization when we agree that good isn't good enough. In order to deliver excellence daily, we will drive continuous improvement, benchmark and implement best practices, execute sharply against goals and reward outstanding performance.

Do Well by Doing Good

We will strive to improve both the lives of our people and the communities in which we do business. We will respect people. We will embrace diversity. We will invest in our people to help them succeed. We will give back to the community. And we will be socially and environmentally responsible corporate citizens.

How do product process

Step One: Identify Unmet and/or Underserved Customer Needs

This step helps to identify unmet and underserved needs, Monster.com is required to examine four key environments for opportunity analysis, which is, customer, technology, company and competition. The “unmet and undeserved needs of customers or also known as opportunity nucleus can be tell by analyzing customer decision process”. The process starts off with problem recognition where customer will actively search for a suitable job in situation where they are facing employment issues. After that, the customer will gather relevant information about the job they are seeking, for example, availability of the job, job descriptions and requirements by visiting Monster.com. Although Monster.com service coverage is available throughout 50 major countries around the world, there are still unmet needs that are not served to potential customers in other countries that are not supported by Monster.com such as Japan, Sri Lanka, Myanmar and New Zealand.

12

The following step is to compare and evaluate the information available on Monster.com that is related to the customer’s required job in order to make their purchasing decision. The Monster.com website in particular, provides adequate and sufficient information on the scope of it services. Hence, there is no unmet or underserved needs identified.

The purchase decision takes place after evaluations are being made by the customer. In terms of payment, Monster.com provides the option of free and paid services to its customers. Customers who want free-of-charge service will sign up for the basic membership while customers who require additional premium service will go for the premium membership. In this case, Monster.com is able to fulfill the need of different group of customer in terms of mode of payment.

Customer satisfaction is then evaluated after the service is delivered to the customer. Satisfactions are highly achieved when the service provided matches or exceed the expectation of the customer. On the other hand, Customer loyalty is shown by repeat usage of the service and promoting the service to other customer. However, Monster.com does not offer any specific loyalty programs to its customers. Hence, this is can be considered as one of the unmet or underserved need.

Step Two: Identify the Specific Customers a Company Will Pursue

After analyzing the outcome of the customer decision process, the next step Monster.com should take is to identify the specific customer segments that the company will pursue. Based on the analysis undertaken, Monster.com has segmented its market based on geographic, demographic, occasional and benefits bases to identify actionable and meaningful segments within each.

Geographic segmentation divides the market into different geographical units. Monster.com in particular, has successfully position itself in 50 major countries around the world, including the United States, Canada, United Kingdom, Germany, Argentina, United Arab Emirates, China and India. Customers of Monster.com around the world will now have the ability to purchase access to their extensive resume database by geographic segment, thus providing a customized and effective recruiting tool.

Occasional or situational segmentation divides the market based on the situation that leads to a product need, purchase, or use. In the case of Monster.com, the customers who purchase their service can be distinguished according to two different situations: routine occasion and special occasion. Under routine occasion, customer uses Monster.com on a regular basis to search for jobs while in special occasion, customer only use Monster.com when faced with unexpected situation such as the sudden loss of job.

13

Step Three: Assess Relative Advantage to Competitors

To assess relative advantage, Monster.com must understand the context of competition at the industry level and specific competitors at the individual company level. An analysis of competitive characteristics between a few online recruiting companies with Monster.com is needed to understand the competition in the market. The reason behind this is to evaluate the dominating factor of Monster in comparison to other in the market.

HotJobs and CareerBuilder.com can be classified as direct competitors of Monster.com based on the similarities of services they are providing such as career advice, resume posting and international job search. Craigslist.org on the other hand, is seen as an indirect competitor of Monster due to the nature of their operation. Unlike HotJobs and CareerBuilder, Craigslist is not merely an online recruiting agency but a classified website that offers job listings as part of its services.

Among the four companies, only Monster.com and HotJobs offer resume writing as part of their service. However, Monster.com in comparison with HotJobs lacks some attributes in terms of the additional CV (curriculum vitae) writing services. As for international network, only Monster and CareerBuilder have extended their services to other countries outside the United States. In terms of market share, Monster has penetrated into 50 major countries around the world while CareerBuilder only managed to penetrate into 10 countries. This gives Monster a competitive advantage over CareerBuilder in gaining a global market presence.

Step Four: Assess the Resources of the Company to Deliver the Offering

The resources of a company has to be assessed before focusing efforts into any business model in order to ensure success, discover of new opportunities and unlocking values that are formerly unavailable. Company resources are then divided into three main categories. The first being customer-facing resources that are often spent on customers, internal resources that runs the overall internal operations and the upstream resources which marks the relationship of the company to its partners and associates.

One of the strengths of Monster.com is its brand name as Monster is the no. 1 branding company. Monster.com has its online presence in 50 foreign countries including Canada, France and Singapore. This then produce a huge database of customers, own staff base and board representatives in all the companies. The strong brand awareness Monster.com has on a global level as well as Monster’s penetration into the market of various foreign countries created a vast number of distribution channels reflects the strength of customer-facing resources that Monster has.

The company’s internal resources show that Monster has up to 5000 employees in 50 different countries. Monster is doing well financially due to their revenue which has increased from $6.9 million to $133.5 million in the year 1999. Additionally, Monster has a powerful search engine

14

which enable users to search for the exact item they need on their website. The search engine also matches jobs seekers skills with the suitable jobs available on Monster. With such technology, large workforce and financial stability, Monster has a significant amount of internal resources.

Step Five: Assess Market Readiness of Technology

The technology of Monster has to be evaluated and reviewed in order to assess the market readiness. Monster.com is known for its powerful search engine which allows users to search for their needs easily. The online mechanism of Monster.com has to be user-friendly and accessible as that is the sole way customers can enjoy the services provided by Monster.com.

Users will be able to identify that Monster.com is a recruitment site just by visiting its homepage. Signing up for Monster.com is free and not a hassle as users only need to fill in details of core components vital for employers. The job searching process is simple as well as Monster.com provides a large number of available jobs and every job is categories in an efficient way. Based on the website Monster.com had created, a basic internet connection will allows users to access and enjoy the services provided by Monster.com.

Step Six: Specify Opportunity in Concrete Terms

Most of the elements involved in this analysis should be clear and almost complete by now. An opportunity story should be crafted and begin developing a rough business plan for the course of actions required.

The first step in the opportunity story is to look back at the target segment that has been perceived as an opportunity for Monster to exploit. Based on the findings during the second step, Monster should look into the niche market and target specific parties or segments of people in order to monopoly their target market share. A fine example previously given will be the potential of penetrating into the market of Hispanic talents.

An interesting fact about Monster.com’s service is that, the more propositions sign up for Monster be it applicants for job seekers or employers, the more new applicants Monster will be able to attract. Nobody will sign up themselves up for a recruitment company without any chances of getting employed. Monster.com is currently growing rapidly simply due to the fact that more and more people sign up for its services opening up opportunity for even more applicants. As the current leader among online recruitment companies, Monster.com has the available resources to penetrate into new markets providing their services without too much problem. The aggression of Monster expanding will suit their tagline of ‘Monster: Never Settle’.

Apart from that, Monster.com has better critical capabilities and resources needed to deliver satisfactory values for their customers compare to competitors. This is due to the amount of customer-facing resources that Monster.com has compared to its competitors. By serving customers well translate into quality and the excellent value that Monster.com provides thus, the loyalty of customers will be obtained.

15

Step Seven: Assess Opportunity Attractiveness

The final step in this analysis is to assess the opportunity attractiveness available. This assessment is made based on the industry performance in the long-term with the estimation of profitability. Besides the industry, the firm’s relative competitive position within that industry will be assessed as well. This can be done with the help market dynamics analysis.

In this step, there are 5 main factors to be considered to evaluate the characteristic and magnitude of the opportunity. First and foremost is the unmet need of Monster which is neutral since Monster provides its services adequately and customers obtain what they expected from Monster.com. However, the main problem lies in the magnitude of this opportunity due to the fact that new companies may just start operating in the same industry. Otherwise, smaller companies in the same industry may merge and form a strong competitor just like how Monster was created from a merger of Monster Board (TMB) and Online Career Center (OCC).

Interaction between customers is minimal and neutral as employers will only interact with employees. Other applicants as job seekers will never interact with other job seekers. However, customers may always provide feedbacks to Monster.com on their site and services.

Available resources of the Company

Resume1. Post a Resume2. Create a cover letter3. Resume writing services4. Resume Distribution service

Top articles1. Resume Samples2. Cover Letter Tips3. Accomplishments on Your Resume4. Four things that can get your resume tossed5. Cover Letter Tips for older workers6. How to decide on resume length7. Resume tips for job affairs8. Sample cover letter for a teacher9. Resume dilemma: Over qualified

16

Jobs

1. Jobs search2. Advanced search3. Browse jobs4. Saved search

5. Saved jobs6. Apply History

Most Popular jobs

1. Courier jobs2. Delivery Driver Jobs3. Dental Assistant Jobs4. Electrician jobs5. Medical Assistant jobs6. Paralegal jobs7. Pharmacist jobs8. Pharmacy technician jobs9. Receptionist jobs10. Security Guard jobs

Career Resources

1. Resource center2. News3. Monster Blog4. Browse Career advice5. Communities6. Career services7. Career Management tools8. Company Profiles9.

Communities

1. Career-start2. Healthcare3. Part-time

17

4. Retail5. Technology

Additional Resources

1. Resume writing services2. Resume Advice3. Interviewing tips4. Personal finance center5. Salary & Benefits

Business expansion of Monster.comMonster Worldwide, Inc. is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, and recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com and a vast array of products and services.

Monster pioneered the business of digital recruiting in 1994, and today we are the only online recruitment provider able to serve our customers on a truly global basis. In addition to our broad portfolio of global Web sites, Monster offers valuable online advertising space on category leading properties such as Military.com and FastWeb.com. These sites deliver a quality audience and the most sought-after consumer demographics to companies looking to showcase their brand to their target audience at key points in their life.

In 2014, Monster unveiled a new strategic approach to include job aggregation, and a deeper expansion into the small business market.

As we continue to seek strategic ways to expand our offerings to employers and seekers, we have taken steps to ensure that we have the processes, technology and infrastructure to deliver the highest level of service and support to our customers. We have deepened our focus on leveraging our multiple distribution channels to further extend our reach into local markets in the United States and beyond. This is evident through Monster's alliances with newspapers in several of the nation’s largest metropolitan markets including New York, Boston, Philadelphia and Chicago and our expanded efforts in social media. These alliances support our commitment to expand the online recruitment market and allow us to serve a higher number of customers and job seekers more efficiently.

18

Chapter 3

E -payment

An electronic payment system is a way of paying for goods and services electronically. Electronic payment is a subset of e -commerce transaction to include e-payment for buying and selling goods or services offered through internet. These payments are made directly to your payee from your bank account using security features over the internet to process the transactions. You may be able to make payments through your financial software so when you enter a payment in software transaction goes through and the bill is paid in the amount and on the date you specify.

An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. E-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. The e-commerce space is evolving and also improving.

There are a number of trends that both consumers and retailers should be mindful of as the sector continues along the path of astronomical growth.

Major Trends in E-Commerce Payments 2013–2014

Payment by credit and/or debit card remains the dominant form of online payment. Mobile retail payment volume skyrockets. PayPal remains the most popular alternative payment method online. Start-up Square begins to gain traction with a Smartphone app, credit card reader, and

credit card processing service that permits anyone to accept credit card payments

19

Payment types accepted by Monster.comMonster is able to accept all major credit cards, PayPal instant a payment, purchase orders, checks (US only), money orders (US only). Monster accepts these payment methods.

Credit Card

Monster is able to accept American Express, Discover, Master Card, and Visa.

PayPal

Payments using a credit card or PayPal account can be made online. At this time, we are only able to accept Instant Payments, which means you must have a bank account or credit card directly linked to your PayPal account for the payment to process successfully.

By using your PayPal account with Monster, you are agreeing to set PayPal as your default payment method for all future auto-renewals. This can be updated at anytime within your PayPal account. If you choose to add a credit card to the account, it will be set as the default payment method for all auto-renewals and your PayPal account will be used as a secondary payment method, in case the primary method fails.

New Account

To sign up for a new account using PayPal, click the “More payment options” link under billing information, and select “Pay With PayPal” before clicking “Next.” You will be directed to log into your PayPal account to complete the payment process.

Renewal

To renew an existing service with PayPal, click the “Change Payment Method” link and select the option to “Pay with PayPal” before processing the order. You will be directed to log into your PayPal account to complete the payment process.

Check or Money Order

Payments made via check and money order must be in U.S. funds and are only accepted for hosting terms of 12 months or longer. All services are prepaid in full for the term-length selected.

20

An invoice will need to be created prior to sending in your payment and/or purchase order. This will ensure that the total is correct and the payment is applied to the correct account. We cannot accept partial payments. Our prices are subject to change at any time and without warning; however, the rate quoted on the invoice will continue to be honored as long as the payment is received by the due-date, or within 30-days of the date it was issued.

Services renewing on a monthly basis require an active credit/debit card or PayPal account on file for automated renewals.

Purchase Orders

We are able to accept purchase orders, which will be paid via check or money order. Once the account is created and paid via purchase order, it must always be paid via purchase order; the payment type cannot be changed in the future. Purchase orders will not be accepted with ANY terms and conditions beyond our own Terms of Service.

21

Summary

E commerce, digitally enabled transactions between and among organizations and individuals. In 1994, e commerce as we know didn’t exist. In lesser than 20 years, millions of people worldwide, purchase goods and services online via a mobile device. E commerce has reinvented not just once but twice. Ecommerce has changed the trends, as new computing devices are introduced, allowing doing things that even made the human lives easier. It is a major breakthrough. Businesses are reaching global, through online platform; consumers are getting numerous choices that are largely increasing the use of online shopping applications. Monster.com is one of the major players in virtual world, which provides global online employment solution for people seeking jobs and employers who need great people, becoming one of the most visited website in the world. Monster accepts various payment methods from around the world, such as credit card, PayPal, cheque or money order. All these are methods of e payment, way of paying for goods and services electronically.

22

Bibliography

(n.d.). Retrieved September 03, 2015, from Avalara: http://www.avalara.com/learn/whitepapers/5-ecommerce-trends-watch-2015/

Iannuzzi, S. (2015, September 1). Monster Worldwide, Inc. Retrieved 2015, from Monster Worldwide, Inc.: http://www.monster.com/

Kenneth C. Laudon, C. G. (2014). E-commerce business.technology.society. Pearson Education.

Ravi Kalakota, A. B. (2006). Frontiers of Electronic Commerce. Kathmandu: Pearson Eduucation.

Sample, A. (2015, September 1). Acknowledgement Sample. Retrieved from Acknowledgement Sample: http://acknowledgementsample.com/category/project/

Wikipedia. (n.d.). Retrieved September 03, 2015, from Wikipedia: https://en.wikipedia.org/wiki/E-commerce

23