June 15, 2015
Professor Ali Boloorian
An enterprising inventor Will Bury wants to change the way people connect books, audio, and other materials currently provided in print. Bury plans to do this by digitalizing his proprietary e-digitalization technology. Bury’s technical skills outperform his business expertise and is struggling with basic business decisions regarding technological applications, supply and demand curves, pricing strategy, product delivery, and the digital production process. To improve his business intelligence, Bury led the research online for the product substitutes, digital and audio book consumer characteristics, and industry-driving features. He applied personal experiences to the information acquired from the research. Bury sought pricing strategy advice from a friend with online business experience, particularly in artwork sales (University of Phoenix, 2013). The following business proposal for Will Bury’s proprietary e-digitalization technology will address the market structure, revenue generation, profit maximization, and economic conditions. Market Structure
To generate and increase revenue an understanding of the market as well as the individual market clients is essential. The e-digitalization market incorporates countless companies in a monopolistically competitive structure who specialize in developing software for audio and document imaging and services, e-digital products, and retail. Software development companies create the e-digitalization technology necessary to allow document-imaging companies to convert printed material to e-digital material for consumers to view from tablets and e-digital products to purchase from retail companies such as Amazon.
The Internet has transformed how companies conduct business today. The Internet has provided companies and entrepreneurs like Will Bury with an avenue to create, develop, and promote e-digital material and compete for as much market share as possible. Companies and entrepreneurs with expertise in computers will help them establish the proprietary technology to create barriers to entry in the e-digitalization market. The increased use of computers in today’s society for business, educational, and personal purposes as well as the expansion of mobile device platforms has generated consumer demand for e-digitalization material. Revenue Generation
To generate revenue from older books with expired copyrights as well as newer books, Bury would benefit from providing a broader selection of e-books with enhancement, portability, and purchasing options that will satisfy consumers. Knowing that Bury has sold more new book releases than older books, he would generate revenue by expanding the selection of older books without licensing and use the additional income from those purchases to buy newer books with licensing. Bury should also add a feature that suggest books similar to what is purchased like Amazon.com. Bury may also add a communication-based component for readers, such as a Facebook fan site or e-readers blog where readers can suggest books or make suggestions. By adding a few features Bury can generate brand loyalty. Profit Maximization
The profit will be maximized, based on industry specific technology and information. The Internet represents a technological shift in the way society conducts business. Possessing an Internet presence is essential to maximizing profits. Bury’s digitalizer will help lower overhead costs on the e-digitalization end. Zip filing the e-books will provide Bury with more space to purchase additional e-books that will satisfy consumer demand. New companies will come up with ways to find a suitable price point for e-digital products. It will be essential for Bury to be mindful of new companies and industry developments. The proposed establishment of an e-reading network on Facebook...
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