Converting something old into gold might be a proverb but selling used books online is definitely something worth of taking a closer look.
Any promotion requires a lot of back end support of what is the search volume for a particular author or subject and what exactly the search pattern is.
Search engine optimisation would come handy in this case and before creating a niche online the following things needs to be looked into closely
The database for such books and titles or authors gives an insight into how the package should be promoted.
Pricing should be competitive as street vendors offer most of the books approximately 50% of list price. But there is a glitch of street book supply. There is no guarantee of condition of the book and if lucky the book might be in immaculate condition or else it’s a take it or leave it kind of offer.
The pricing needs to be little less than what a customer gets from street supply of used books. Pricing of books at 45% of the list price would be ideal (Jain, 1993).
Positioning of a product online is a critical element for marketing. The positioning needs to be understood from the target customer’s needs, available competitors online, line of communication available to get in touch with the target group, promotional language used for brand positioning of such products.
Distribution of used book should be kept in within the purview of easy search option along with customer orientation and preference.
The used book should be placed in amazon and eBay where customers come for easy buy and big discount offers.
Warehousing and procuring materials from local vendors for easy distribution is necessary.
Procurement of such books locally will be cost effective as well.
Used book market is huge as not every college going student can afford to buy new edition and getting the latest edition costs a lot for students and others who looks for easy buy.
Book titles needs to be looked into and products needs to be placed accordingly as certain products sell better if matched promptly.
Communication is a big factor for platform selling and that helps in clinching a sale.
Planning of products placing needs to be understood and completed before placing for sale.
Platform selling through key partners has its own dangers as well. Too many competitors in same segment can ruin the selling practice.
For every venture the milestones are necessary and an apt sales team along with instant chat help and backend support for customer service is essential to send across a good vibe to potential customers.
Total revenue generated by amazon from book sale is 5.25 billion dollars and used book sale could be just less than 10% of that. That comes to around $ 525000000.00
A two percent share of this huge market is good enough for a start up company.
1. Jain, S. C. (1993). Marketing planning and strategy. Cincinnati South-Western Publishing Company 1985..
2. Kumar, S., & Phrommathed, P. (2005). Research methodology (pp. 43-50). Springer US.
3. Cohen, W. A. (2005). The marketing plan. John Wiley & Sons.
4. Kolb, B. M. (2005). Marketing for cultural organisations: new strategies for attracting audiences to classical music, dance, museums, theatre & opera. Thomson Learning Emea.
5. Strauss, J., Frost, R., & Ansary, A. I. (2009). E-marketing. Pearson Prentice Hall.
6. Berman, B. (1996). Marketing channels. John Wiley & Sons Inc.
7. Davidson, W. H. (1982). Global strategic management. John Wiley & Sons Incorporated.
8. Palmer, G. D. (1985). Principles of marketing. Thomson South-Western.
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