Premium Essay

Istockphoto

In: Business and Management

Submitted By elusive
Words 3015
Pages 13
Case1:
ISTOCKPHOTO.COM: TURNING
COMMUNITY INTO COMMERCE

Abstract
Online community is a particular importance since last dedicates; it is recognized as an important environment for people to communicate and share their interest, knowledge, information and advices, etc all over the world despite the existence of the barrier of time and distance. Turing online community into commerce is as significant way to generate revenue and make income. iStockphoto company paid highest attention on the community based online service. They followed cost leadership approach concerning micro payment strategy. They also focused on providing high quality service, so that customers get benefit from the service and become the loyal customers. They also helped amateur customers, who like photography become a professional photographer.
At this moment the company is growing but though their models could be followed by other competitors, so we believe that they should take some steps like: they should keep their professional customers loyal by providing them right value, customizing the content of the order, posting some specified advertisements in their website, etc.
In this report we discuss the issues behind the success of iStockphoto and discus the conflict that has emerged during the development of iStockphoto, when online community turned into commerce. In practical, we proposed solutions to the conflict, based on Revenues models of "Long tail of social networking" and comparative analysis of representative webbase-services using 8C framework. And also suggest steps to be taken to capitalize the value of istockphoto content, based on the Revenues models proposed and differentiation strategy. The best strategy to be applied by Stockphoto company to be successful is a mixture of overall cost leadership and differentiation.

1. Introduction
Istockphoto.com…...

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