| Cricket E-Magazine Essay
The 20th and the 21st century have seen tremendous developments in the different sectors of the economy. With this in mind, technological development in the 20th century saw a tremendous boost in the overall development of different economies across the globe. As the economies grow, people have also developed different areas of interests in terms of relaxation. With this in mind, one area that has received serious growth in the recent time is sports. Whereas most sports activities were carried out by sportsmen who were at the same time soldier, the 20th and the 21st century has seen an introduction of professional sports activities across the globe (Tharoor, 2007).
Following this point, cricket is one of the sports or rather games that have gained an increasing popularity across the globe. Whereas this is a popular game among the Indian communities in India, Bangladesh and Pakistan, the recent times have seen cricket gain popularity among other communities across the globe. However, there is still need to popularize this game across the United States and in other areas across the globe. With this in mind, one of the challenges that have been experienced is how to popularize this game. Nonetheless, with the introduction of the internet, an e-magazine could go a long way in popularizing cricket. There are various types of revenue models that could be adopted that can enable Cricket E-Zine, an online version of the cricket magazine to be able to reach its target.
Types of Revenue Models
There are different types of web-based models that are available that could be explored as business strategies in the corporate world. In reference to Xu, Tjoa & Chaudhry (2007), these models include advertising, subscription, brokerage model, infomediary model and affiliate. Notably, these could be combined and used as single strategy or they can be used individually.
The web advertising model is similar to the traditional media broadcast model but slightly different in the sense that in this case, a website would provide the content and services that are combined with advertising messages that are coined in such a way that they appear as a banner ads. These banner ads may then act as a source of revenue for the website owner or in other words broadcaster. It worth to note that the broadcaster may be the one producing the content or in some cases, the content may be produced somewhere else and then given to the broadcaster. There are different aspects of the advertising model that have emerged in the business world so far. These include portal, classifieds, user registration, query-paid placement, contextual advertising/behavioral marketing, content target advertising, intromercials and intromercials. Whereas these aspects work in different ways, they have the ability of meeting the specified targets in the intended market.
Subscription entails paying of certain services that are offered by a particular website either monthly, weekly, daily, hourly or yearly. The subscription fee is determined by the website owner. Importantly, most websites usually combine freeware or rather content with premium content that requires a person or client to subscribe to these services in order to be able to access them. There are different types of subscriptions models that are available for use by consumers. To begin with, content service involves the use of audio, text and video or both to users in order to be able to have an access to the services that are available. Trust services on the other hand targets certain types of consumers who are able to abide by a particular set of rules or code of conduct that has been set by the broadcaster in order to gain access to a particular type of service. Others include person-to-person networking services and internet service providers that provide network or internet connectivity and similar services on a monthly subscription.
The affiliate model on the other hand works by avoiding the notion of driving a high traffic volume to a single site and instead buy opportunities in other places where people or rather consumers may be surfing. Those that have been found to use this model do offer financial incentive to their partners in the form of particular revenue percentage. Remarkably, one of the most suitable website revenue models is the affiliate model. This explains the reason why affiliate model is more popular when it comes to revenue generation by the website. There are various variations that are utilized including revenue sharing programs, pay-per-click and banner exchange.
The brokerage model is concerned with bringing buyers and sellers together and then helping them to facilitate a particular transaction. In this respect, when a website acts as a broker, they facilitate business to business transactions, business to consumer transaction or consumer to consumer transactions. Similarly, the formulas that are used in calculation of the transaction fees vary one from the other. On the other hand, there are different types of brokerage models that exist for use by the website revenue models. These include market exchange, buy/sell fulfillment, action broker, transaction broker, distributor, search agent virtual marketplace and demand collection system. It is important to note that these aspects of the brokerage model works different but they are able to achieve their targets when well implemented. Similarly, setting prices for transaction that are carried out under these aspects are different from each other and are usually determined by the broadcaster.
There is a growing need for consumers and goods and service providers to understand the supply and demands patterns that exhibited among different entities across the globe. However, these data are hard to collect and manage. More so, the introduction of online shopping has made it difficult for consumers and producers to obtain data that explains their supply and consumption patterns. With this in mind, there are websites that have committed themselves to gather and analyze data that is related to the demand and supply of certain services and commodities over the internet. Similarly, such websites are capable of carrying out market research in regard to certain goods and services that are available in the market (Chaffey & Smith, 2008, p.104).
Whereas the above revenue models can enable any website owner to generate income, their impact in revenue generation varies tremendously. In consistent to this, there is therefore the need to select an appropriate model that would be easy to manage according to the level of website owner while at the same time generation high revenues. In this regard, the Affiliate Model would be the most appropriate for an E-Zine cricket magazine.
The above selected model is the most appropriate for an online cricket magazine since is has the ability to create a wider market through its affiliate members. It is important for one to understand that sports websites are among the most accessed websites across the globe. Therefore by creating affiliates, the Cricket E-Magazine will be able to access to a wider array of sports fans some of whom may as well be interested in cricket and would not mind buying one cricket magazines or subscribing to them either monthly or yearly. Whereas this has been found to create a market base for such a magazine, it was also found out that this model was able widen the market base for this magazine.
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