Custom Report Essay Writing Services Market Overview
Custom Report Essay Writing Services Market Overview, Custom writing services market is a sector of the e-commerce industry. Custom writing services are fee-based. Market size.
In this piece, the writer will present a market overview for custom writing services giving a thorough overview of the market categorized into categories like market identification size, market dimension, market segmentation market growth rate, customers, operating principles as well as financial aspects as well as regulations and other kinds of. The study is organized so as to categorize related issues in the order of logic.
The market for custom writing services is an area of the e-commerce sector. The cost of custom writing services is based on a fee.
The exact size of the market for custom writing services is not known, but a rough estimate can be drawn. The number of companies competing in the market is nearly 200. It is also reported that 30 percent of the companies that are in the business have an annual turnover of around $120,000, while the 70% of the companies have nearly twice the amount of annual turnover. Market size, and total turnover is estimated at around $11,800,000 per annum. It is unclear how big the market’s contribution to the economy is undetermined.
Segmentation is the method of allocating homogeneous segments of the market that is heterogeneous. A market is made up of a variety of sub-markets, each with its own reasons.
For the market being studied, the definition of segmentation is in the following manner. Companies that operate within the market could be divided in accordance with specialization differences into such categories:
- Generally-oriented companies;
- Particularly-oriented companies.
These are companies that create custom-written documents covering a variety of subjects. In general, these companies employ writers with various specialties or are capable of performing at an appropriate level in various disciplines. Businesses that fall under another organizational group generally operate within a narrower frame. There are firms that provide custom-written documents that focus on physics, math sociology, African-American William Shakespeare, Charlotte Bronte and many more.
Other services and products offered by representatives of the industry include editing and proofreading services, as well as pre-written essays.
Custom Report Essay Writing Services Market Overview
It is interesting to note that there are businesses on the market offering both custom-written and pre-written documents. However, this may be in no way connected with ethics violations But what is the confidentiality of those students who had previously placed an order for the custom-written essay, which may have been later sold to other students?
Speed of growth
Market growth rates vary over a period. Thus, in 2000 there were nearly 25-30 companies offering custom-written/pre-written essays, term papers, case studies, and other types of research papers. In the course of five years, the number of businesses on the market increased to close to one hundred and fifty.
The rapid growth rate of the market is evident to have occurred in 2003-2004 when a sudden shift in price was observed. The number of businesses in the market grew by 30 percent, and it is now estimated to be at around 80 firms. The rise was probably triggered by the trend towards e-commerce solutions that are new to a lot of entrepreneurs in a range of emerging countries such as India, Ukraine, Poland, and many more. Companies that have their headquarters in these countries started providing similar services at a lower cost as opposed to companies based inside countries like the U.S., Canada, or Australia. For more information on pricing policies, see Pricing.
The rate of growth in the market today is quite low since the market has grown to full size due to the wide range of products and services provided by market players.
The geographical distribution of services
It is important to note that the market that is being researched is an eCommerce industry. This suggests that the services or products created by parties in the industry are intangible rather than tangible. This is especially true for the market for custom writing services which provides its clients with tangible products that are delivered to them generally via email.
It is essential to know that regardless of where the company has its main or backup office, it has a global presence.
The sole principle that regulates the geographical distribution of custom-written documents is linguistic attachment. The most prominent countries that use the service are in the United States of America, Canada, Australia, and Great Britain as well as a few European as well as Asian countries.
The nature of the market in seasons
Another characteristic to the marketplace is seasonality. The nature of the seasonality of the market is clearly defined. Since the services provided by market participants are designed to meet students all through the academic year The season of active sales is almost in line with the school year. The beginning of September, generally passive – is compensated for with the possibility of a few weeks in June.
The market’s seasonality is the reason for its fluctuation in prices. It was discovered that the prices for services rise throughout the year, with peak prices in January – December, and April-May; and then drop drastically during the summer months.
Online services like custom-written services usually are for students from the high-schools, colleges, and universities, ranging from between 16 and 25 years of age. Because the price in the market is quite low, the customers’ target market is the middle class and up. Research indicates that in 2005, 14 between 23 and 14 percent of students (considering the seasonality adjustment) have utilized custom writing services. This means that 17% to 1/4 of students have purchased at least one piece of writing during the 2005 and 2004 academic years. The research also gives information that allows us to make a conclusion about the development that the industry is experiencing. The research shows that in 2003, the highest percentage of students who had applied on the site at least once at 25 percent. In 2005, it was estimated to be 36 percent.
Customer loyalty is the result of frequent or regular purchases of an item or product. Customers can earn loyalty through a customer-friendly pricing policy as well as various discount programs and incentive plans, etc. Customer loyalty can also be an element of a company’s loyalty or customer retention programs. The programs for customer retention are typically complex and include two or more of the elements mentioned above. Concerning the market for professional writing and editing services for custom, this was observed during the study conducted by the researcher:
- more than 80 percent of the market employs the same basic methods to gain customer loyalty. This includes variable prices that are based on the demand for the product or service all year, bonuses plans (such as bonus keys that can allow as much as 4 percent decrease) as well as other methods as well.
- about 10% of businesses within the market employ sophisticated loyalty programs for customers including discounts that can be flexible (som! times that can reach thirty percent!) together with weekly feedback bonuses and personal choice of a writer status checks, 24/7 customer support, and many other methods of attracting customers.
Factors that impact a buyer’s selection
Some of the factors that can have an impact on consumers’ choices when it comes to customized writing services is the cost, quality of the products and services (including professionalism, exclusivity and conformity with specifications) as well as the time of delivery.
In terms of price and the quality of a particular product, the two elements are the most crucial. It is crucial for companies to strike a balance between quality and price as a good relationship between these two aspects will benefit both the service provider as well as the client. It is worthwhile to mention that there are firms offering writing services with PHd.s with prices “as low as $8.95 per page”. The quality of the paper is directly proportional to the cost and the reverse is also true.
Concerning delivery time, a lot of companies provide urgent fulfillment with delivery within twelve (and sometimes, even eight) hours. Some restrict the quantity of the order to a certain amount of pages, however, there are some firms who accept urgent orders with no limit on volume.
The market for custom writing services is experiencing a drop in costs recently. As mentioned in the earlier research the market experienced a decline in prices between 2003 and 2004, due to an abrupt increase in the rate of growth. In the end, the average charges remain at a price of $15 for a page for normal (5plus days) orders and the rate is $20 for urgent (24 to 48 hours) orders and $30 for pages for orders that are urgent (within 24 hours).
There are some companies that offer custom-written documents at half price when in comparison to the average price. This may be a sign that a business or hires immediate workers from countries in need or is brand new to the market, and has the lowest price to allow entry into the market fully and achieve an established standing.
Principles of operation
The fundamentals of operation are identical across the entire industry. The intangibility of the products offered by the competition on the market requires a single set of relations between a business and a client, regardless of the capabilities of the company.
Companies that write custom papers (essays case studies, term papers executive summaries, literature review dissertations) are able to offer their services via their websites. Websites have the necessary and optional features including credit card processing (necessary) and online customer support (optional) and an auto-responder feature to supply customers with automatic thank yous and newsletters as well as other options.
When a customer places an order, and it is then sent to the writer. This is not the case in small businesses that have two or three staff members who are able to wear multiple hats, e.g. one person might be an administrator, writer, as well as an agent for customer service. If there are a number of writers employed by the company each one is able to complete an order that is then sent to the customer by email.
It is worthwhile to mention that a lot of attention is given to the company’s website. It is normal for companies that write custom documents to have more webmasters than writers. It’s hard to believe? In your opinion, what is the correlation between webmasters/programmers and book reviewers working for Amazon.com?
Leaders and Competitors
As previously mentioned, the competition in the market is approximately 120. In the competitive market, the leadership of firms offering customized written papers of all kinds is solely by a company’s website’s position in the various search engines. The most popular search engines include Google, MSN, Yahoo!, Altavista, and Alltheweb. Furthermore, websites are ranked the order of their content and aimed to specific key phrases. So, several websites may be top within this search engine but they may be ranked differently for specific keywords or phrases.
A sub-division of the eCommerce sector and market for custom writing services is controlled by nothing more than several codes such as BBB Online that refer to web-based entrepreneurs. In general, the eCommerce sector isn’t well-regulated.
Recent trends within the market and market success elements
In the current state of the market, three factors should be mentioned:
- Constant fall in the price;
- The constant increase in competition
- Broadening the range of the services provided by businesses.
The constant increase in competition is clearly due to the ease of operation as well as the increasing number of authors who freelance thought of starting with their own company.
Price decreases are constant and due to the increasing number of rivals and similarity in the services offered by firms on the market.
In the end, diversification of the services offered is a as a result of the increase in competition.