Book Publishing Industry
The tool of Five Forces by Porter helps in explaining the position of power in relation to a business situation. This tool makes understanding strengths as well as the current competitive position and the anticipated strength position. The model tool depicts buyers as they look for books. Here, they look for cheaper books. The commodity’s quality is another factor that buyers consider (Clark, & Philips, 2013). As such, buyers are prompted by commodity’s quality to choose a brand over the others in the market.
Price is also another factor that influences their choice. Here, price and content of the book play a very important role. Books with quality content that sell at cheaper prices are likely to be bought at a faster rate than those with quality content but selling at higher prices. Delivery guarantees are also other factors that may prompt buyers to buy one brand over the others. As such, delivery guarantees offer sellers an upper hand over competitors in terms of market share. There are buyers who are comfortable when they use other payment modes while paying for commodities and other constraints as well (Thompson, 2005).
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The requirements of buyers change on the basis of gender and age. There is also the role that time plays in influencing the buyers. For instance, technology is advancing at a faster rate. Books are currently available online. The choice of most youths is to read online books instead buying books (Martin, & Tian, 2010).
Force’s strength includes scale. This is where size is used by book publishers as the competitive advantage. There is also verticalization. This entails employing the internet in the delivery of what interests the audience. Atomization is the other factor. This entails book publishers’ capacity to avail content. The force’s strength has influence on the market. This is because publishers who provide loyalty to brands are able to meet consumers’ expectations by offering quality services. They also offer better customer services which make them a preference for most buyers (Greco, Wharton, & Millot, 2013).
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Clark, G., & Philips A., (2013). Inside Publishing, New York, NY: Routledge. Print.
Greco, N. A.,Wharton, R. & Millot, J., (2013). The Book Publishing Industry. New York, NY: Routledge.
Martin, W. J., & Tian, X. (2010). Books, bytes, and business: The promise of digital publishing. Farnham, Surrey, England: Ashgate..
Thompson, J. B., (2005). Books in the Digital Age: The Transformation of Academic and Higher Education Publishing in Britain and the United States. Cambridge, UK: Polity Press.