Custom Writing Companies: Market Overview

Custom Writing Companies: Market Overview
Market identification

Custom writing providers market is a sector of the e-commerce industry. Custom writing companies are fee-based.

Market size

The precise dimension of customized writing providers market is unknown, although some tough estimate could possibly be made. The number of opponents in the market approaches practically 200. Additionally it is known that round 30 percent of organizations within the industry have annual turnover amounting to $one hundred twenty,000 roughly, whereas other 70 % have nearly twice as low annual turnover. Total market dimension is estimated at ,800,000 annually. The dimensions of the market in relation to the economic system is but unknown.

Segmentation

Segmentation is the process of allocation of particular homogeneous sub-markets inside a heterogeneous market. A market is a multitude of sub-markets that have comparable motivations.

In the case with the market involved, segmentation is interpreted as follows. Firms that operate within the market could possibly be divided in accordance to specialization differences into such classes: (a) generally-oriented firms; (b) particularly-oriented companies. Generally-oriented corporations are those who produce customized-written papers on a wide variety of topics. As a rule, such organizations hire writers representing totally different specialties or just those able to carry out on applicable stage in a single or a number of fields. Companies ascribed to a different organizational category normally operate inside a narrower framework. Available in the market there are firms that offer customized-written papers exclusively on math, physics, sociology, the African-People, William Shakespeare, Charlotte Bronte, etc.

Other services and products offered by the business representatives embody proofreading and editing services, and pre-written papers.

It is noteworthy that there are firms available in the market that offer both custom-written and pre-written papers. This, nonetheless, may have nothing to do with violation of ethics, but what about privacy of these students who beforehand ordered a custom-written paper, which might have been later re-sold to another student?

Growth velocity

Growth rates of the market are various over the time. Thus, in 2000 there were almost 25-30 companies providing customized-written/pre-written essays, time period papers, cases studies, and other forms of analysis papers. Over the 5-year interval the number of firms available in the market grew up to almost two hundreds.

The leap in development rates of the market is seen to take place in 2003-2004 when sudden change in pricing happenred. The number of firms available in the market elevated almost 30 percent and now estimates around 80 companies. This leap was most likely caused by the tendency towards ecommerce options being new to hoards of entrepreneurs in a number of creating countries like India, Ukraine, Poland and other countries. Companies headquartered in these nations began offering related services but with decrease fees as compared to these situated in the U.S., Canada, or Australia. More on pricing policies see in Pricing.

As we speak, market's progress speed is slightly low as the market is full-fledged due to quite a lot of services offered by market participants.

Geographical distribution of services

It is price mentioning that the researched market is a subdivision of ecommerce industry. This offers ground to conclude that either products or services produced by industry's events are of intangible character fairly than of tangible. This particularly issues custom writing companies market, which gives its prospects intangible products delivered to them mostly by way of email.

It must be clear that irrespective of the place an organization holds its common/backup office, it operates worldwide.

The only precept that regulates geographical distribution of custom-written papers is linguistic attachment. Among main countries using the service are: the United States of America, Canada, Australia, Nice Britain, and a few European and Asian countries.

Seasonal character of the market

Another side of the market is its seasonality. Seasonal character of the examined market is sharply defined. As companies offered by the market individuals are oriented at student wants all through the academic 12 months only, the http://www.procustomwriting.com/ season of energetic sales virtually coincides with the academic year. The first half of September - usually passive - is compensated with a number of weeks in June.

Such seasonality of the market explains its instability of prices. It was observed that costs for services increase throughout the year with peaks in December - January and April - Could; and drop dramatically through the summer time season.

Prospects/Purchasers

Prospects of on-line services akin to custom writing providers are usually students of high schools, schools, and Universities, of 16 to 25 years old. As pricing available in the market is comparatively low, goal group of the market covers the so-called middle class and higher. A analysis shows that in 2005 from 14 p.c to 23 percent of students (considering seasonality correction) have in due time applied to customized writing providers (IAS, 2005). In different words, one-seventh to 1-fourth of students has bought not less than one paper throughout 2004-2005 academic years. The same research supplies knowledge that offers ground to conclude about the development of the market. It is declared that in 2003 peak rate of students who utilized to the service no less than once was 25 %, whereas in 2005 it's estimated to reach 36 % (IAS, 2005).

Customer loyalty

Buyer loyalty is obviously a conduct demonstrated by frequent or systematic purchases of a company's product or service. Customer loyalty could be achieved via customer-friendly pricing insurance policies, varied low cost programs, incentive plans etc. Customer loyalty can also be a facet of an organization's customer retention or loyalty programs.

Customer retention programs are often advanced systems that embody or more elements listed above. As regards the market of customized writing companies, the following was seen in the middle of the analysis held by the creator: (a) more than eighty percent of the market makes use of fundamental techniques in buying customer loyalty equivalent to permanently variable prices that depend on demand for the product or service all year long, bonus plans (equivalent to bonus key that permits as much as 4 % reduction), and different methods; and (b) almost 10 percent of firms within the market use advanced buyer loyalty programs similar to versatile reductions (sometimes as much as 30 percent!) in a mix with weekly feedback bonuses, personal selection of a author, order status check, 24/7 buyer care, and other modes of customer attraction.

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