Book Publishing in 2010 Case Solution
The material of the report is concerns the analysis of the print media industry and the electronic media industry. This review deals with the convenience inusageof the press, the Print media and the electronic media and their effective influence in the market. Thematter mentioned below deals with the issue of selecting a media structure by finding out which is more profit generating medium in the current modern period and which shouldbe followed by the industry.
Summary of the Argument:
The overview of the whole argument, which is shownbelow, is that the publication house industry has to consider a channel to make it their vendor, who can sell their published books and products. Some major words are given below in the section of recommendation which publication industry should to take into their account.
In the current era where the world is influenced effectively with the usage of the technological application, the production of the print media badlysacrificed and fell avictim tothe Technological electronic media. The electronic media grabbed most of the market forpublishing books, magazines, news, advertisements, government notifications, etc. relevant traditional publications of the paper medium. All thesechanges declined the sales of newspapers, paper magazines, thepaper printed novels and stories, the paper promotions pamphlets and paper printed books.
In this case, the publication house must have to consider their riskpoints in a positive manner and take some major remedies to resolve the problem and search for other alternatives.
The Analysis and Solutions:
In this way, the publication industry should consider the Porter Fiver forces of Model to resolve the matter.
The Porter'sfiveforces analysis is a structure that efforts to analyze the stages of the strugglesand competitions within an industry, business strategy and management's development. It makes the presentation of industrial organization (IO) economics to originatefiveforces that conveniently determine the competitive strength and therefore attractiveness of an Industry
The analysis deals with the first matter which is that the publication house cannot eliminate the modern medium of the technologies which wasdeployed in the vines of the world poorly. Now they have to go with the Electronic Media which is grabbing the market rapidly.The publication has the rights to make profits in a better way without toleration of all the printing matters. The electronic media conveniently saves time which is consumed in the printing process.
The power of Suppliers:
The porter Five-Force model’s first element isthe Supplier Power in the industry. In this manner, the industry has worldwide electronics shopping stores which provides books at a good price, which leads tocost cutting as compared to publication houses which have to pay printing cost, labor for the distribution. Additionally they have to bear significant depreciation of printing machines, large number of purchasing the cost of the assets, and hearing the local delivery boys, and other expenses. The USA’sTrade of Wholesale Electronic Book Revenue was around $90 million in the year of 2009, which has been growing rapidly since the idea generated.The websites names are as follows who is leading to make the sale of the Electronic Book; Amazon.com, iBook, BARNES & NOBLE, and BORDERS. The Amazon.com is generating a well capable income from the selling of Electronic Books.
The power of Customers:
The porter Five-Force model’sSecond element is the Customer Power in the industry. The traditional manner of the print media had not allowed the client to read the book everywhere and it has mostly the black and white print, this medium allowed a restriction to learnactually. When the electronic media came in the market, these above problems were cut down by it. The increase in the revenues of the USA Trade Wholesale Electronic Book shows that the customer prefers theElectronic Book to read mostly. By the invention of the smartphone the readers of the electronic media have increased effectively. The medium of the Smartphone provide the reader the facility to read at anywhere they want to. The Electronic media is catching considerable attention of the buyer.
Availability of Substitutes:
The porter Five-Force model’s third element is the Availability of Substitutes, this deals with the matter that whether the publication has any availability of alternatives of their services. The industry of the publication has the accessibility of substitutes, which they can go with the application of the smartphones. The publication should follow the trend of the Electronic media bylaunching their applications. As the tradition of the industry is changing, the publication should go with the trend and take a start to make their own application for the customer to read their books and charge them in two ways as they can charge as one time cost and they can bring the bookson the rental basis also.................................
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