Established companies are looking for new and more innovative ways to conduct their business to compete against the rising competition and to keep off unwanted insurgents. And on the other hand this business era which can be termed as the "entrepreneur era", entrepreneurs are looking and finding ways to create new and innovative business models to carve out a niche of their own in the market. This paper concentrates on the development of a business model for a company specialising in internet marketing business. By means of the company and the development of its business model the paper offers a comprehensive study on the significance of a business model and the different integral requirements needed by a company to sketch its business model.
The main objective of this assignment being the selection of a business and creating a business model for it, the business of internet marketing was chosen. And so as to give the company more substance and originality, the company was given a fictional name, ResearchArchive. This particular name was chosen for the company as it, in more ways than some gives a prompt first impression idea of what the company and its business is about. The main business idea or the business concept behind this business venture is providing academic research materials to prospective customers.
ResearchArchive is a business enterprise that specialises in providing E-books and journals via interactive marketing. The company offers relevant web based books and journals that are needed for writing academic research papers such as term papers, dissertation papers, thesis papers etc. For the short term the company seeks to be the leading provider of E-books and E-journals and documents for students based in UK, US, Australia and New Zealand. On the long term, the company aims to be the most innovative and prolific providers of web based academic research materials catering to students all over the globe.
Marketing Objectives and Strategies
Marketing objectives are those objectives that define what behavior an organisation wants from the target markets, they comprise the measureable ends that need to be achieved (Hiebing R.G. & Cooper S.W., 2003). ResearchArchive being a web based academic research material for international students, the main marketing objectives of the company are:
To identify, reach out and communicate with the maximum number of prospective customers on a world-wide scale.
Relay the benefits and advantages of the company's business offerings to the target market.
Provision of products and services as in academic research materials that meets the requirements of the customers.
Develop a long-term and a profitable relationship with the customers.
Carve out a space for itself in the market and create a sustainable competitive advantage.
In order to successfully achieve these