Custom writing services market is really a sector of the e-commerce industry. Custom writing services are fee-based.
The precise size of custom services market is unknown, though several rough estimate could be made. The amount of competitors in the market approaches nearly two hundred. It is also known that around 30 percent of organizations in the industry have annual turnover amounting to $120, 000 approximately, whereas other 70 % have almost twice as low yearly turnover. Total market size is estimated at $10, 800, 000 each year. The size of the market in relation to the economic climate is yet unknown.
Segmentation is the process of allocation of specific homogeneous sub-markets within a heterogeneous marketplace. A market is a multitude of sub-markets which have similar motivations.
In the case with the market concerned, segmentation is interpreted the following. Companies that operate within the marketplace could be divided in accordance to specialty area differences into such categories: (a) generally-oriented companies; (b) particularly-oriented businesses. Generally-oriented companies are those that produce custom-written papers on a wide variety of topics. As a rule, such organizations hire writers addressing different specialties or simply those capable of perform on appropriate level in one or several fields. Companies ascribed to another organizational category usually work within a narrower framework. In the market there are companies that offer custom-written papers exclusively on math, physics, sociology, the particular African-Americans, William Shakespeare, Charlotte Bronte, etc .
Other products and services offered by the representatives include proofreading and editing services, plus pre-written papers.
It is noteworthy there are companies in the market that offer both custom-written and pre-written papers. This, however , may have nothing to do with violation associated with ethics, but what about privacy of those students who previously ordered a custom-written paper, which might have been later on re-sold to another student?
Growth rates of the market are varying over the time. Thus, in 2000 there were nearly 25-30 companies offering custom-written/pre-written essays, term documents, cases studies, and other types of analysis papers. Over the 5-year period the number of companies in the market grew up to almost two hundreds.
The leap within growth rates of the market is usually noticed to take place in 2003-2004 when sudden change in pricing happened. The number of companies in the market increased nearly 30 percent and now estimates around eighty companies. This leap was possibly caused by the tendency towards e-commerce solutions being new to hoards associated with entrepreneurs in a number of developing countries such as India, Ukraine, Poland and other nations. Companies headquartered in these countries started offering similar services but with reduce fees as compared to those located in the U. S., Canada, or Quotes. More on pricing policies see in Pricing.
Today, market’s growth swiftness is rather low as the market is full-fledged due to a variety of services provided by market participants.
Geographical distribution associated with services
It is worth mentioning that this researched market is a subdivision associated with ecommerce industry. This gives ground in conclusion that either products or services produced by industry’s parties are of intangible character rather than of tangible.
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This specifically concerns custom writing services market, that provides its customers intangible products sent to them mostly via email.
It must be clear that no matter where a company retains its general/backup office, it operates worldwide.
The only principle that adjusts geographical distribution of custom-written papers is linguistic attachment. Among main countries using the service are: america of America, Canada, Australia, The uk, and some European and Asian countries.
Periodic character of the market
Another aspect of the market is its seasonality. Periodic character of the examined market can be sharply defined. As services offered by the market participants are oriented with student needs throughout the academic season only, the season of active sales almost coincides with the academic year. The first half of September – generally passive – is compensated with several weeks in June.
Such seasonality of the market explains its instability of prices. It was noticed that costs for services increase throughout the year with peaks in December – January plus April – May; and fall dramatically during the summer season.
Clients of online services such as custom made writing services are usually students of high universities, colleges, and Universities, of sixteen to 25 years old. As pricing in the market is relatively low, target group of the market covers the so-called center class and higher. A research demonstrates in 2005 from 14 % to 23 percent of learners (considering seasonality correction) have within due time applied to custom writing services (IAS, 2005). In other words, one-seventh to one-fourth of students has bought at least one paper during 2004-2005 academic years. The same research provides data that gives ground to conclude regarding the growth of the market. It is announced that in 2003 peak rate of students who applied to the particular service at least once was 25 percent, while in 2005 it is estimated to achieve 36 percent (IAS, 2005).
Customer loyalty is obviously the behavior demonstrated by frequent or even systematic purchases of a company’s product or service. Customer loyalty could be achieved through customer-friendly pricing policies, various low cost programs, incentive plans etc . Client loyalty is also an aspect of a company’s customer retention or loyalty applications.
Customer retention programs are usually complicated systems that include two or more elements in the above list. As regards the market of custom services, the following was noticed in the span of the research held by the author: (a) more than 80 percent of the market uses basic techniques in acquiring client loyalty such as permanently variable prices that depend on demand for the service or product throughout the year, bonus plans (such as bonus key that allows up to four percent reduction), and other techniques; plus (b) nearly 10 percent of businesses within the market use complex consumer loyalty programs such as flexible discount rates (sometimes up to 30 percent! ) in a combination with weekly feedback bonuses, personal selection of a writer, order position check, 24/7 customer care, and other settings of customer attraction.
Factors that influence buyer’s choice
Among factors that have impact on customers’ choice in the market of custom writing services are price, quality of products and services (including exclusiveness, professionalism, and compliance with the requirements), and delivery time.
As to cost and quality of a specific support, these two factors are the most important. It is vital for companies to balance in between price and quality values given that optimum correlation between these two types benefits both a service provider along with a customer. It is worth mentioning there are companies that offer papers written by Ph level. D. s for “as reduced as $8. 95 per page”. Quality of a paper is straight related to its price and vice versa.
In respect of the delivery time, many companies offer urgent order accomplishment within 12 (and sometimes even 8) hours. Some of them restrict the volume of an order to particular number of pages, though there are some businesses that accept urgent orders without having volume limitation.
Custom services market has been experiencing a drop in prices lately. As it has been mentioned earlier in this research, there had been fall in prices in 2003-2004 caused by sudden increase in market’s development rates. By far, average fees are kept at the level of $15 for each page for regular (5+ days) orders, $20 per page regarding urgent (24 to 48h) orders, and $30 a page for incredibly urgent orders (within 24h).
There are companies offering custom-written papers fifty percent price as compared to average pricing. This particular fact may indicate that a firm either hires instant workers through developing countries or is new to the market and provides such a low prices policy in order to enter the full marketplace and gain certain status.
Concepts of operation
Principles of procedure are the same throughout the industry. Intangible nature of products produced by competitors on the market implies single system of relationships in between a company and a customer irrespective of an organization’s capacities.
Companies that offer custom-written papers (essays, term papers, situation studies, literature reviews, executive summaries, dissertations) operate through their web sites. Websites are supplied with all necessary and optional features such as charge card processing system (necessary), online customer support (optional), and auto-responder to provide existing customers with automated thank yous and newsletters, and other features.
A client places an order, which is then forwarded to a writer. This step can be omitted in small companies where two or three people wear several hats, e. g. one person could carry out as an administrator, a writer, and a customer service representative. If there ARE a couple of authors working for a company, one of them accomplishes a good order, which is then delivered to the client via email.
It is worth observing that major attention is compensated to a company’s website. It is common to get a company producing custom-written papers to get as many webmasters as writers. Hard to believe? In your opinion, what is the relationship between webmasters/programmers and book testers working for Amazon. com?
Competitors plus leaders
As mentioned above, the number of rivals in the market estimates nearly 200. Leadership in the market where companies offer custom-written papers of any kind is described exclusively due to a company’s website’s ranking in various search engines. The most powerful search engines are Google, MSN, Yahoo!, Altavista, and Alltheweb. Moreover, websites are ranked in accordance to their content focused at different key words. Thus, various websites could be leaders in the same search engine, though for different keywords or even phrases.
Being a subdivision from the ecommerce industry, custom writing services market is regulated by nothing but many codes like BBB Online that will refer to web entrepreneurs. In general, e-commerce industry is poorly regulated.
Current trends within the industry and marketplace success factors
Among current trends in the market particularly three aspects are usually worth mentioning: (a) constant fall in price; (b) constant increase in the number of competitors; and (c) diversification associated with services offered by companies.
Constant increase in the number of competitors is obviously caused by simpleness of operations and growing number of freelance writers who once decided to begin their own business.
Permanent fall in cost is caused by growing number of competitors and similarity of services offered by companies in the market.
Finally, diversification associated with services is a logic consequence from the same increase in the number of competitors.