Verified Document

Market Research For Financial Services Business Plan

Figure 1: Market Segmentation by Outlet and Service

Product/Services

Share

Audio

1.0%

News reporting text

50.0%

Photographs and graphics

30.0%

Video

19.0%

Outlet

Share

Newspapers

50.0%

Television (free-to-air)

20.0%

Cable and satellite TV

10.0%

Magazines

10.0%

Radio

5.0%

Internet

5.0%

Sources: (Buxton, 2005) (Browne, 2006) (Davis, 2009)

E. Competition and Competitive Edges

Competitors in this market are highly fragmented and many have financial services in addition to financial news analysis. Bloomberg has seven lines of business and each addresses the need for a varying approach to delivering financial data. AP is a syndicated news service which strives at broad market research, yet does not concentrate on depth of analysis as much. All competitors have econometrics-based modeling systems for interpolating market direction, and all have specific approaches and formats that serve to differentiate their services. The need for a simply-designed user interface, which none of them have, combined with a simple pricing model would serve to be an effective differentiator.

F. Estimates Market Share and Sales

The following table provides an analysis of market share by provider. Bloomberg's biggest rivals are Thomson-Reuters in the U.S. And globally, Agencie and News Corp.

Major Player

Market Share

The Associated Press

30.0%

Getty, Inc.

Ongoing Market Evaluation
What's critically important is for the proposed new venture is to define a unique position in the market with a Web-based delivery model and evaluate the competitive advances of each competitor makes to this position. At present each of the competitors have overly complex graphical interfaces, with Bloomberg's taking weeks to learn how to use. The usability of the advances functions of each of these services is significant and takes time to learn. By evaluating customer satisfaction of competitors, pricing, delivery changes and direction the proposed venture can create a significant niche for itself through competitive monitoring.

References

Bowie, M. (2009, May). IMD Reference: Bloomberg Takes Lead Share. Inside Market Data, 24(34), 1,3.

Andrew Browne. (2006, September 11). China Adds Restrictions on News, Financial Data. Wall Street Journal (Eastern Edition), p. A.2.

Philip Buxton. (2005, May). Straight from the source. Revolution,30-34.

Avram Davis. (2009, October). Bloomberg To Buy BusinessWeek. Mergers & Acquisitions Report, 22(42), 14.

Andrew Edgecliffe-Johnson. (2009, April 27). Bloomberg broadens its portfolio. Financial Times,16.

Muntermann, J.. (2009). Towards ubiquitous information supply for individual investors: A decision support system design. Decision Support Systems, 47(2), 82.

Sources used in this document:
Reference: Bloomberg Takes Lead Share. Inside Market Data, 24(34), 1,3.

Andrew Browne. (2006, September 11). China Adds Restrictions on News, Financial Data. Wall Street Journal (Eastern Edition), p. A.2.

Philip Buxton. (2005, May). Straight from the source. Revolution,30-34.

Avram Davis. (2009, October). Bloomberg To Buy BusinessWeek. Mergers & Acquisitions Report, 22(42), 14.

Andrew Edgecliffe-Johnson. (2009, April 27). Bloomberg broadens its portfolio. Financial Times,16.
Cite this Document:
Copy Bibliography Citation

Related Documents

Market Research Use of Secondary
Words: 1386 Length: 4 Document Type: Term Paper

With regard to the second article, a Magic Potion?; Wellness drinks from the Economist (2007), the lack of secondary research is so glaring as to make the claims of weight reduction from drinking the new beverage unbelievable. The entire article could have been two sentences, with the first announcing the drink and the second, that the research had not been released. Further, the investment and financial analyst quoted says he

Financial Services Talent Management
Words: 1796 Length: 5 Document Type: Research Paper

Bank of America The author of this report has been asked to analyze and answer to a case study that covers the Bank of America. There will be an outline of the talent management system used at the Bank of America. Further, there will be an assessment of the strengths of the program and how they have led to goal accomplishment. Next, there will be a description of the opportunities for

Financial Service Platform of UXB2B
Words: 1306 Length: 4 Document Type: Case Study

UXB2B: Chinese Taipei The case of UXB2B speaks of a rather new technological procedure and application to resolve e-commerce issues related to internet security and e-finance logistics for trading partners in the supply chain industry. However, I digress. UXB2B is an e-commerce company that specializes in the development of e-business applications designed to enable supply chain integration through a streamlined and secure software link. Leadership Information: The CEO of the company

Marketing Plan: Mcbride Financial Services
Words: 1281 Length: 4 Document Type: Essay

Focusing on advertising through local businesses and word-of-mouth to consumers might be difficult. Instead, regional and state-wide television, radio, and print media to alert consumers about the virtual financial company might be a way to motivate individuals to use Google to search the web to find out about the company. Establishing contacts with local realtors who might wish to advertise McBride or to advise clients of its low-cost services

Marketing Audit a Market Research Plan Is
Words: 2256 Length: 7 Document Type: Essay

Marketing Audit A market research plan is the systematic study that deals with the gathering and analysis of the concerned data to assess the role of a certain company in the market and persuade the customers to by their products. Marketing research assist the companies to design better strategies for future with respect to customer behavior (Pickett, 2010). Marketing audit: It is a systematic and comprehensive evaluation of a company's activities and

Global Market Research- Roles and
Words: 15495 Length: 54 Document Type: Dissertation

The third position means stepping outside the situation and seeing issues from the point-of-view of a third party. NLP reminds us that people receive information in various sensory channels: the visual, the auditory, the kinaesthetic (perception of movement of effort) and the digital mathematical or reasoned thinking (Taylor, 2000). The idea being that people use all of these modes, but may have a preferred mode. Ethnographic approach: this takes its

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now