Free Sample: Market Analysis of Ebook Publishing Services paper example for writing essay

Market Analysis of Ebook Publishing Services - Essay Example

WePublish’ headquarters will be located in the heart of the Silicon Valley in a Cupertino, California. The benefit to this is that high tech and innovative companies that also started up in the Silicon Valley, like Apple, HP, and Google, will surround us, giving us a nice environment to start up in. Our potential market that WePublish Inc. targets include people who own MP3 players (with screens) or smart-phones, those who like convenience, and those who like to shop online. WePublish wants to focus on people with products like the iPod or Blackberry, because that’s who WePublish’s service will benefit the most.

The specific age group being targeted are college students and business men between the ages 18 and 49, because they need the portability the most. College students would love to turn their heavy textbook into an eBook, easily fitting into a compact electronic device. Businessmen generally are on the move constantly, and they generally carry newspapers, books, or magazines, to pass time while on the move. Not only will WePublish allow users to buy and store books electronically, WePublish will also allow magazine and newspaper subscriptions which will be sent straight into the user’s WePublish account.

Being more precise, the targets are businessmen and college students’ families who have annual salaries of $75,000 or higher. That income level of over $75,000, holds the most iPods (36%), and statistics show they like to online shop. From a survey from MacDailyNews, 94% of the MP3 player owners have shopped online in the past 6 months, and 49% say online shopping is the best way to shop. This trait makes them a prime target to sell eBooks to, because they are familiar with purchasing things online. Our market share will mainly consist of users who have electronic devices and are experienced with shopping online.

Evidently, these aren’t the only people WePublish is targeting; WePublish is for anyone who loves to read and is looking for a more convenient way to read. The target market focuses just on the people which WePublish’s service will most likely benefit the most including College students who carry around textbooks and casual readers. All MP3 players have a store to buy music from to put on the MP3 player, making most users who have an MP3 player be very familiar with online buying. WePublish will have its own store that works almost exactly like an online music store, but instead sells books in the default format of a PDF file. The user has the choice to download the file as a different extension if the user chooses.

The customer’s buying behavior will be limited decision making. The customer may have to see reviews, a synopsis, or the first few pages of the eBook they want to buy. After reading through all of this, then they will choose whether to buy it or not. Comparison items listed on pages and advertisements of new books will sway some users to impulse buying. Showing a famous author’s new book on the front page will make fans of the author buy the new book as fast as they could. Familiarity of authors sponsoring WePublish make users feel more secure buying from WePublish than from any other eBook store.

D. Analysis of Site Being Used Next to each book is a feed of other books with similar genres. This has been proven to increase sales according to our research analysis. Users can also post reviews about the book, and will better inform other customers before they make a purchase so that the amount of complaints will be reduced. We offer a 30 day no questions asked return policy. Market Research has proven that the return rate for online eBook is equal to one or two percent. By offering a 30 day money back guarantee, the number of increased sales will outweigh the number of returns. According to our experience with online marketing, the complaints are from usually customers who didn’t receive the download link, and problems like that are easily corrected with our customer relation support staff.

We highly value the security of our company and have spent a lot of market research on preventing internet fraud. Our authors will appreciate the solutions that we provide to them. One problem is the illegal distribution of eBook. We understand that no company can completely eliminate piracy, but we have developed many ways to actively counteract it and reduce the number of attempts. We require all customers who purchase an eBook to provide their social security number and we provide them with a serial key which is used to open the eBook. We are currently in negotiation with government auditing firms regarding the strict handling of sensitive data and agreed to use MD5 and SHA encryption techniques to store customer’s information in a database.

Should this information be hacked, there is no way for the hackers to decrypt it without the proper authorization keys which is stored in a remote shell that can only be accessed locally at our company site. Each person who makes a purchase has their IP Address recorded, and we have paid over $10,000 in licensing fee to obtain software which automatically integrates with our server to automatically track the location of where the IP address is originating from. (GO2IP) When numerous purchases and returns have been made from a specific geo graphical region, our software will automatically block future purchases from the area for a certain amount of days. Our software will also prevent users from using proxies to make a purchase on our site. Proxies alter the user’s IP address and may distort their geographical location.

Each of our EBook has a special serial code which automatically connects to the internet upon execution and contacts our database with information of the source of where it was downloaded. If this does not match the correct hash sequence that has been specifically generated for that download, then the file will not open. There are two pieces of software, and they are both used actively in order to be able to read the eBook. The first software is the Reading Program, which actively contacts the database. The second software is the actually ebook that is purchased. It can only be viewed by the first software and nothing else. The first software can launch on virtually 10,000 different platforms and emulate many existing file types.

This software was developed at the cost of $100,000, and our proprietary technology gives us the protection against hackers thus sustaining the longevity of our company in comparison with existing competitors. We are two years ahead of competitors and it may result in mergers or buyouts in the future. We have focused on protecting the intellectual property of the original authors, so that we reduce the likehood of legal threats and lawsuits.