Instructions: this is how the e-book business project should look like
Business Description
The e-books publication business will be able to provide them to its consumers the proximity and chance to obtain knowledge and be able to publish content as e-books to its customers. The business being situated at arm’s reach to its consumers will enable trust and equality for clients. The main primary market for the investment is the college, having two sets of consumers, the students and the professors. The college being a large institution has also attracted lots of investors, forming a community. The secondary consumers targeted by the business are the public community in the area. The business is presented with a large consumer base; hence it is planned to offer cheap services to attract both external consumers and trust for local consumers.
Market Analysis
To gain financial returns and achieve key business objectives, the market environment is vital. The e-book publication business investment should be situated in a position that allows for consistency and reliability of its targeted market to achieve success. Different consumers have different preferences for their ideal type of market. It is beneficial for a business to have all year-round clients than seasonal undependable consumers. There are various aspects that define the nature of the e-book’s publication business.
Social and Economic Aspects
First is the social environment, this defines the community’s acceptance of the services offered, which will include culture texts from varying ethnical communities. The business is forced to sell and publish content that is acceptable to the community by consideration of moral and ethical standards in the area(Schive, 2019). Another aspect of the target market is the economic capabilities of the community. Different communities live under different financial needs, with some even living at half a dollar minimal wedge. The targeted community lives at an average of two dollars wedge, hence limiting the cost of services to under or at exactly a dollar.
Political and Technological market analysis
The market environment is also faced with intense political interference due to its monopoly nature. The college being a government institution is constrained with Laws that may prevent selling of course books that are not government recommended(Pestleanalysis, 2021). This will limit the business to only references materials and novels. Academic materials are every publication the largest sale point, hence may prevent progress and growth of the business. Fourth is the technological aspect of the business. Having to publish e-books, technology is the greatest business resource. The products and services offered can only be transmitted, transact and accessed through technology. Hence, the market has to have the affordability and access to these devices.
Market analysis of legal and environment aspects
The fifth aspect in the market analysis of the business is the environmental concerns. The e-books publication business warrants businesses against damage to the environment as it mainly deals with online transactions. To foster environmental consideration, the business plan will involve participation in environment conservation efforts to get the communities trust and create a brand Liked and trusted by the consumers. This aspect will play an important role in marketing and getting people to use more ebooks than physical books. With a digital economy, the business will see financial profit and growth through better ways to utilize environmental resources. The business plans on promoting laws by publishing the community’s laws together with the local, regional and government laws.
Competition Assessment
Starting an e-book publication business in an already competitive market may prove difficult. One of my immediate competitions is Bookboon publications. The business as stated in its initials is based on publication and selling of e-books. Bookboon publications have been in the market for some time and have some already attached and trusted consumer base. Having a ready market makes it difficult for the establishment of a similar company offering these services. The business financial portfolio depends on a three-package offering by the business. The student, business and public package. To market the products, the business offers trial days and free e-books to students.
The Bookboon publications as an e-book provider has one online presence that is the main sales point for its services. Not having a physical appeal to its consumers has allowed it to reach the global market, as anyone around the globe can access these services. The geographical aspect of the business is based on the internet, and its users. Today in the world, billions of users around the globe access the internet, hence the continuous flow of possible clients online. Bookboon e-books market the services online through advertising, hence reaching and getting to interested parties. The business package costs at five dollars and ninety-nine cents is cheap for institutions and professors, hence allowing them to sell more books.
Bookboon as a possible competition, as much as it has immense strengths has also exempted certain weaknesses. For the strengths, one major advantage Bookboon has over its stiff competition is the cheap service costs. Most books cost over ten dollars at retail stores and over five dollars for online copies. Second strength is its online appearance. The internet unites the whole world as a global village, hence the unlimited market for the business. Having an unlimited market allows for growth and affordability of services. In the business website, the company has streamlined various quality assurances that markets and grows the consumers trust in the business. Some weaknesses are lack of a physical address, minimal company client communication and lack of options for costs.
Marketing Plan
Products and Services
The business is established with an aim of providing its clients with publishing services for e-books and books as well as the marketing, sales and promotion of these products. The majority of the competition only offers sales of these e-books on a monthly subscription basis. The offering of the books both physically and online will give clients options to purchase individual books to access at any time and anywhere. Having experience in the publication and marketing of books will be a major boost for the clients as they would be able to attain top most quality for all services rendered.
Pricing and Distribution
The pricing of the services and products will be based on the need, size, location and purchase ability of the clients. All clients will receive a free purchase after every second successful dealings with the business. Having a proximity to the college, all stakeholders within the Institution will be provided with a discount for any purchase made. The e-books will cost only three dollars and forty-five cents each. As for the physical books, cost will be based on the publisher and author’s preference of cost (Balle, L. nd) To offer the best service to the clients, the business; intends to deliver and ensure a safe, fast and a quality service provision.
Promotion
Periodically, as a marketing strategy, the business will hold public promotions that will include up to a hundred percent discounts on some products. The most frequent clients in the business will get book vouchers no matter the location to increase the motivation to access and utilize knowledge sources. My love for offering knowledge to those who need it has prompted me to also include Writer bonuses for all the students, professors or members of the community who write the most selling books published by the business. We will ensure to work with the government to provide and foster academic growth for all persons associated with the business.
References
Pestleanalysis. (2021) Political Factors Affecting Business. Retrieved from https://www.google.com/amp/s/pestleanalysis.com/political-factors-affecting-business/
Schive, M. (2019). This start-up made doing good a business priority – and flourished. Retrieved from https://www.weforum.org/agenda/2019/09/how-one-start-up-made-social-impact-a-business-priority-and-flourished/
Balle, L. (nd) Distribution Pricing Strategy. Retrieved from https://smallbusiness.chron.com/distribution-pricing-strategy-5120.html