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Published On: Wed, Aug 16th, 2017

Let’s Understand Custom Writing and its market

Knowing the market

The e-commerce sector provides custom writing services based on variable fee.

Its size

It will be tough to mention the definite size of this market, but a rough estimate can be made. There are nearly 200 competitors in the market and around 30 percent companies of this industry have an annual turnover of approximately $120,000. On the other hand, the remaining 70 percent are far behind in terms of turnover.

photo/ Pixels

Growth speed

The growth rates of this market keep varying from time to time. More than a decade back, there were only 25-30 companies offering the services like pre-written essays, exam papers, cases studies and more. This is just the time of last five years that the number of companies in the market has grown up and has gone to hundreds.

Geographical distribution of services

It won’t be wrong to say that this well researched market is a subdivision of ecommerce sector and it has made its presence felt on the World Wide Web.

And because of the WWW presence and product being delivered through emails, the companies are producing intangible work rather than of tangible.

Seasonal character of the market

One more thing is important to understand that the market is quite season oriented. Most of the services offered by this market are based on student needs during the academic years, that season is considered as the super active season of the market. This includes the first half of September and the entire June.

Customer loyalty

Of course, the growth of the market also depends upon the frequent yet constant purchases of a product or service that the particular organisation is offering to its clients. If a company wants to win the loyalty of its customers, it may go for customer-friendly pricing policies, the discount offers and incentive plans among others. Customer loyalty plays a key role in the growth of an organisation.

Factors that influence buyer’s choice

Thereafter, keeping in mind the choices and needs of your buyer is also an important aspect. This all includes products or services such price, quality, exclusiveness, profession behaviour and the duration of the delivery, which is the most important factor. The top companies very well know how they have to make a balance between the quality of their service and its cost. Both are to go hand in hand and one is incomplete without the other. A w=thorough market research is helpful in this case.

Pricing

Last but not the least is pricing, an important factor which gains your customers attention at first place. The industry has been witnessing a decline in prices earlier.

It has been mentioned in various researches that the fall in prices was caused by a sudden increase in the growth rate of the industry. So far, the ordering systems have also created some issues which includes ordering, pricing and delivering time according to the need of the customer as to in how many days the customer wants his order to be delivered.

Author: Sofia Fernandise

On the DISPATCH: Headlines  Local  Opinion

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