The Strategies of Business and Financial Bestsellers in Taiwan
Date Issued
2007
Date
2007
Author(s)
Wu, Tan-Ju
DOI
zh-TW
Abstract
The publication market in Taiwan is now facing astringent challenges with structural decline and numerous uncertainties: the overall output of recession, increase volume of book return, over numbers of publishers, and online media gradually carves up the market.
In the highly competitive publishing industry, currently, best-selling books have a decisive effect on the publication business. This research will focus on financial bestsellers separated into two categories: business administration and financial management. The research samples were conducted from the bestseller lists of the top three chain bookstores as Kingstone and Eslite along with www.Books.com.tw from 2002 to 2006. And the top seven publishers were selected. An interview was held with representatives of each publisher, and the results were analyzed through SWOT analysis.
According to the study findings, three significant strategies for business administration and financial bestseller books were developed as follows: production strategy, marketing strategy, and differentiation strategy.
Production Strategy of Bestsellers:
1. The books of business administration must focus on the importance to the contents of innovation. The book of financial management needs to highlight the simplicity and practicability.
2. The most popular contents of the business administration bestsellers are dealing with strategy on the basis of trends. The financial management's bestsellers emphasize on the concepts of personal finance.
3. Title of the books need to catch readers' eyeballs and arouse their curiosity.
4. The best pages for bestsellers limit with from 200 to 300 pages. The second choice would be from 300 to 400 pages.
5. The book cover is best to have bright and noticeable colors focusing on impact.
Marketing strategy of Bestsellers:
This research discovered the dampened affects of the past marketing plans such as: new book press conference, book signing promotion tour, and paid advertisement. The most effective marketing tools are:
1. To provide information within finance magazines and perform placement marketing.
2. To reach an agreement with the chain bookstore to display large amount of books.
3. To utilize perceptual way to network marketing.
4. To utilize the celebrity of the authors to do product placement during the interview or talk shows.
5. To increase the credibility by having a famous person's recommendation.
Differentiation Strategy of Bestsellers:
For books:
1. To attempt and extend first advantage – sign the contracts with the authors to have the privilege of the copyright of related works and create localized top sellers, etc.
2. To create strategic alliance and provide a promo event for the same author or book types.
3. To invite well-known experts to write the book and carefully select famous foreign books.
4. To attempt to have a continual online marketing for top sellers.
Strategy of the publishers:
1. To change the operational process of books. Top sellers can partially be marketing oriented.
2. To build the publisher’s financial professionalism and reputation.
To use IT system to set up a reader's club, with the Internet community.
And to create open publishing IT platform and improve upon the uncertainties of top seller’s shortage and returns.
Subjects
出版業
財經
產製策略
行銷策略
publication
bestsellers
business administration and financial management
production strateg
marketing strategy
Type
other
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