Situation Analysis Caitlin Castainca Alex Lisic Mallory Strange
Executive Summary
E - r e a d e r s
are
quickly
traction
gaining
with
consumers, a TABLE OF CONTENTS
grabbing
significant
organizations
INDUSTRY OVERVIEW
Amazon.Com
CLIENT PROFILE
market
share and propelling
EXECUTIVE SUMMARY
Brief History Size of Industy Stage in Product Lifecycle Seasonality Growth/Potential Forecasts The Economy
U.S.
the
like in
limelight.
to Early
adopters
of
the
E-reader
(and
the
Kindle to be more specific), were not the younger and hipper crowds but the older
History Sales Advertising Expenditures Share of Voice Media Allocation Positioning Creative Strategy New Developments
and wealthier. Since Amazon has released the first Kindle it has seen sales skyrocket.
COMPETITOR ANALYSIS
order to accurately identify who the target audience is for all future advertising and
CONSUMER ANALYSIS
marketing efforts.
Contributors: Caitlin Castainca, Alex Lisic, Mallory Strange
With the success of the Kindle, came a flood of other E-readers to the marketplace. Now that competition is tight, and tablet pc devices are on the rise (Apple iPad), Amazon must determine what the current market for E-readers and eBooks is in
This document will outline the state of the industry, provide a
profile for Amazon and the Kindle, detail information (including key features and benefits) for all competitors, and analyze the current consumers of the Kindle and eBooks to: INCLUDE RESEARCH CAMPAIGN HERE.
Size of Industry
Kindle Situation Analysis
Brief History E-readers E-readers (devices to read electronic books or eBooks), are relatively new media, but have their beginnings in the early 1970s with the development of “E-paper” by the Xerox company (Swinton, 2009). In 1997 Joseph Jacobson formed the E Ink Corporation and began to look for commercial uses for the product (Swinton, 2009). The first eBook readers, The Softbook and Gemstar’s Rocket E-reader, appeared in 1998 (Dahan, 2010). The first major book released as an eBook before print release was Stephen King’s horror novel, Ride the Bullet, in 2000 (Dahan, 2010). 2003 saw eBooks lose market value as digital demand dropped and paper books demand remained strong (Dahan, 2010). Barnes & Noble removed eBooks from its catalog. Critics proclaimed the coming end of the eBook. Sony released the Librié in 2004, the first eBook reader to utilize eInk (electronic ink), which removes the glare common in all previous backlit screened devices. This was the first E-reader partnership with the E Ink Corporation (Dahan, 2010). Amazon released the Kindle in 2007 to the American market, and it sold out in five and a half hours. The market began to rapidly change in 2009 (Dahan, 2010). The
4 kindle situation analysis
Kindle 2, by Amazon, was released in February and shipped to over 100 countries worldwide (Dahan, 2010). In August, a partnership between Sony and libraries internationally via the Overdrive digital network brought the ability for consumers to “borrow” eBooks from available library databases. Barnes & Noble also released its own eBook reader, Nook in October. Five major publishers, Conde Nast, Hearst, Meredith, News Corp and Time Inc, joined forces to develop a format and an online store to beat Amazon’s stranglehold on the eBook market in December (Dahan, 2010). On Christmas day, eBooks outsold physical books on Amazon for the first time ever (Dahan, 2010). At the Consumers Electronic Show (CES) in January 2010, many new E-readers from Asus, Sony, Plastic Logic, Samsung and more, brought major attention and excitement to e-readers and eBooks (Dahan, 2010). The Apple iPad debuted in April and sold 300,000 in the first hour and over a million units in its first month (Dahan, 2010). Apple’s iBookstore sold 500,000 eBooks in less than a month (Goldman, 2010). Amazon released the Kindle 3 in June 2010, which outsold previous editions in
its first month, calling it the “fastest selling ever” (Amazon.com, Inc., 2011). Analysts estimate around $1.7 billion in sales from the Kindle in the 2010 year (Pepitone, 2010). Sony released the Reader Touch and Pocket editions in August of the same year (Sony, 2009). Barnes & Noble released the Nook Color in November as an in-between device for its standard Nook E-reader and tablet devices like the iPad (Davies, 2010). In December, Google launched Google eBooks, providing universal service to download thousands of eBooks online. Amazon reported in February 2011 that it is consistently selling more eBooks than paperback books in 2010 through now (Amazon.com, Inc., 2011). Also in February, Apple began restrictions on eBooks from other providers, forcing them to allow their books to be purchasable through the Apple iBookstore (McCracken, 2011), while also launching Apple Newsstand, a new magazine and newspaper service (Schonfeld, 2011). Not to be outdone, Google announced “One Pass,” a rival platform to sell digital editions of newspapers and magazines (Dahan, 2011). E-readers exist in a market today that is characterized by fierce competition, emerging technology, and surging consumer interest.
The E-reader industry has been growing exponentially since the launch of Amazon’s Kindle in 2007. 2009 saw a boom in the E-reader market, with 3.82 million E-readers shipping in the United States. Amazon owned 63.4% of the market, shipping around 2.42 million E-readers in 2009 (Ereader sales, 2010). This growth led to an increased public awareness and demand as well as increased competition in the marketplace. Eleven million units were sold in 2010, totaling around $1.9 billion in sales (Kwan, 2011). Amazon retained 47% of the market share (Smith, 2010). The tremendous growth in the E-reader market is also very evident in the growth of the eBook market segment. It posted $67.2 million in sales in 2007, $113.2 million in sales in 2008, and $313.2 million in 2009, a 176.6% increase. While 2010 sales are not yet available, the Association of American Publishers recently reported a 193% increase in sales from the previous year for the months of January to August 2010,
resulting in $263 million (2010) over $89.8 million (2009) in sales (AAP, 2010). It also reported that as of December 2010, eBooks constitute 9.03% of total consumer book sales, besting 3.31%, the figure for 2009 (AAP, 2010). This means that roughly 6,000 U.S. adults per day bought an e-book for the first time (Simba Information, 2010). 15% of U.S. adults used an eBook in 2009 (Simba Information, 2010). This number is sure to be larger for 2010 due to the growth evident in the other recently released 2010 statistics. The eBook market through Amazon.com has seen tremendous growth, with five authors each selling more than 500,000 Kindle eBooks (Kennedy, 2010). Hatchett Book Group reported that popular author James Patterson has sold 1.14 million eBooks to date, 867,881 of which were Kindle eBooks (Kennedy, 2010). The Kindle store offers more than 630,000 eBooks (most under $9.99),over 1.8 million free of charge, copyright-free eBooks, enticing more
readers than ever (Kennedy, 2010). 40% of those who own an E-reader say that they read more than what they did with printed books alone (Kennedy, 2010). The Kindle has three primary competitors: Barnes & Noble’s Nook brand E-readers, Sony’s Reader brand E-readers, and Apple’s iPad tablet devices. Besides the iPad these are dedicated E-reader devices used primarily for reading eBooks. The iPad is a multifunctional tablet computer that has E-reader capabilities. Secondary competitors include all other E-reader devices and the paper book industry. According to the data in Chart 1, advertising expenditures for all E-readers over the last five years reveals a volatile, but growing trend for expenditures. Advertising expenditures by the E-reader market in 2006 totaled to $919 thousand. 2007 saw a huge increase in spending moving to $7,454 million (an 810% increase). Expenditures decreased 91% in 2008, dropping to $680 thousand. 2009 saw the beginning of an upturn, with $28,778 million, a 4,228% increase in spending. The first three quarters are on track for a large increase as well, showing $271,322 million in spending, or a 942% increase.
kindle situation analysis 5
Kindle Situation Analysis
Growth/Potential Forecasts Analysts expect Kindle sales to continue to grow in the coming years. Digitimes estimates that 16.21 million E-readers will be sold in 2011, 22.78 million in 2012, and 28.01 in 2013 (Ereader sales, 2010). Others have more reserved figures, stating that Amazon should sell closer to 11.5 million Kindles in 2012 (Paczkowski, 2010). Ebook sales are expected to skyrocket; reaching four times current sales, or 2.7 billion (381 million eBooks) by 2013 (Molchanov, & Howe, 2011). People who read eBooks is expected to rise, calling for a worldwide “doubling” of eBook reader base each year to 2014, reaching 127 million readers (Kwan, 2011).
The Economy
Stage in Product
Lifecycle Amazon’s Kindle is currently in the growth stage of the product life cycle. Amazon has said it is seeing its highest sales volumes ever on the Kindle and eBooks in general with the 2010 release of the Kindle 3. Gross profits have increased each year since the Kindle’s introduction in 2007. Amazon has earned profit reaching from a little over $3 billion in 2007 to over $8 billion in 2010. Ebook sales have increased exponentially in the past year, now accounting for over 9% of the total book market. Public awareness of the Kindle and the eBook market has been on a steady
6 kindle media plan
incline since the introduction of the Kindle in 2007. The E-reader market, which was once limited to Amazon, Sony and a few others is now fiercely competitive with many different E-readers featuring similar features and competitive pricing. Amazon recently slashed prices of the Kindle 3 amidst heavy competition from Barnes and Noble’s Nook and Nook Color, the Apple iPad, and others.
Seasonality E-readers see a sales spike in Q4 of each year, and eBooks see a similar spike as a result of the holiday season. E-readers are a very popular holiday gift item for consumers. E-readers consistently top “Top 10” holiday gift ideas lists on the Internet. Recent survey results show that 10% of adults planned to give an E-reader as a gift during the 2010 holiday season. Additional research shows that 1 in 5 Kindle owners received the E-reader as a gift, and these statistics are expected to be similar for other E-readers (Simba Information, 2010). Using Amazon as a model, the holiday impact is clear: Amazon had sales of $12.95 billion and net income of $416 million or $0.91 per share in the fourth quarter of 2010. Amazon’s sales for 2010 are up 36% from $9.52 billion during the same period a year ago, and net income is up $384 million, or $0.85 per share in that time (Amazon.com, Inc., 2011).
“The economy is growing, but for many Americans life is not getting better. Unemployment remains high. Home values are depressed. And state budgets are in deep trouble, presaging more layoffs, service cuts and tax increases” (The New York Times, 2011). People have very little money to spend. Federal Reserve officials expect the unemployment rate to remain around 9% by the end of the year (Irwin, 2010). The U.S. Census Bureau (2008) reports that the average U.S. citizen has only $116 in disposable income to spend on reading and only $479 to spend on entertainment supplies, equipment, and services per year. Buyers are very cautious with the ways their money is spent in these economic conditions. Kindles, and E-readers like them, are “affordable luxuries.” This has most likely worked in Amazon’s favor, providing an item that provides buyers with a feeling of extravagance and luxury at a lower, affordable price point. The Conference Board Leading Economic Index® (LEI), an American economic indicator that forecasts future economic activity, is predicting an economic expansion in the very near future (The Conference Board, 2011). A possible economic expansion, coupled with the current bounce-back in the nations corporate sector (Irwin, 2010), can only be good for luxury-type electronic sales.
Kindle Situation Analysis
Legal/Regulatory Issues When Amazon released the Kindle 2, it was met with a whirlwind of criticism from authors and publishers with regards to the device’s text-to-speech feature. This allows the Kindle user to hear a monotone voice read aloud the text of a purchased Kindle eBook. Authors and publishers were furious stating that they sold Amazon rights to the digital version of these works, not audiobook rights. They claim that in allowing the user to listen to the book, he or she is enjoying an entirely different product than what was purchased (Simba, 2010). Paul Aiken, executive director of the Authors Guild agrees, saying, “That’s an audio right, which is derivative under copyright law… They [eBooks and audiobooks] are derivative works of a book and fall under the copyright,” he told the paper. “This [text-to-speech capability] is a new format of audiobook” (Nickson, 2009).
8 kindle situation analysis
The primary legal concern surrounding the Kindle, however, is with regards to ownership. Who owns the content purchased from the Kindle, and what exactly is it that is being sold? Amazon got into trouble in 2009 when it pulled two books by Orson Wells from the Kindles of thousands of users after it was determined that Amazon did not have the rights to distribute the books. Did Amazon have the legal right to go in to the Kindles owned by their consumers and remove content that was purchased? “Technology companies increasingly feel that because they have the ability to access people’s personal property, they have the right to do so. That is 100 percent contrary to the laws of this country,” said Attorney Jay Edelson of Kamber Edelson (Fabio, 2009). Further, if a consumer acquires content from the Kindle store, does he or she truly retain full possession of the content (Kwan, 2008)? If it were a paper book, the consumer would have the right to resell the book or do whatever he pleased with it. Amazon contends that they are selling licenses, not an actual book, so this does not apply. However, this is still up for legal debate, and the lines of ownership and what is being owned are blurry and could be potential problems in the future
Societal/Cultural Considerations We live in the Digital Age, where technology is constantly advancing and upgrading. Change is not a new thing, and there have been major technological advances made within the last twenty years. As a result, we are acclimating to the rapid speed of change in technology. Consumers are no longer asking, “What can it do?” Instead, “What can I do with it?” is the begging question (Rutledge, 2010). Consumers are quickly acclimating to E-readers, doubling the percentage of eBooks to the total book market in only one year. The Baby Boomer Generation (now aged 55-64) are of retirement age and have disposable income and an interest in books and education. This demographic makes up 25% of the American population and holds 70% of U.S. resources. Despite this, only 10% of general advertising targets them (Kindle, 2009). These groups are traveling more than any other and are perfect candidates for a paper book to E-reader conversion.
kindle media plan 9
Kindle Situation Analysis
Amazon Kindle Client Analysis
Chart 2: Amazon Kindle Total Advertising Expenditures Jan-Dec 2010 (000’s)
Key Features & Benefits for Amazon Kindle Amazon first introduced the Kindle, electronic reader, to the American Market in 2007. The entire stock sold out in five and a half hours. In October 2009 Amazon introduces the Kindle 2. It is released and shipped to over 100 countries worldwide. In June 2010 Amazon.com releases the Kindle 3, which outsold previous editions in its first month, calling I the “fastest selling ever”. Analysts estimate around 1.7 billion in sales from the Kindle in the 2010 year (Dahan, 2010). The Amazon Kindle has an advantage over other e-readers because their website is one of the top websites and recruitment tools for their target market. Their consumers can purchase an eBook online where they are already familiar and have it on their Kindle in seconds. The U.S. Kindle Store now has more than 810,000 eBooks including New Releases and 107 of 112 New York Times Bestsellers. Over 670,000 of these eBooks are $9.99 or less, including 74 New York Times
10 kindle situation analysis
Bestsellers. Millions of free, out-ofcopyright, pre-1923 books are also available to read on Kindle. Amazon.com is now selling more Kindle eBooks than paperback books. Since the beginning of 2010, for every 100 paperback books Amazon has sold, the Company has sold 115 Kindle books. Also, during this same time period the Company has sold three times as many Kindle books as hardcover books. (This includes sales of eBooks where there is no Kindle edition. Free Kindle eBooks are excluded and if included would make the numbers even higher.) North America segment sales, representing the Company’s U.S. and Canadian sites, were $7.21 billion, up 45% from fourth quarter 2009. International segment sales, representing the Company’s U.K., German, Japanese, French, Chinese and Italian sites, were $5.74 billion, up 26% from fourth quarter 2009. Worldwide Media sales grew 12% to $5.23 billion. For the 2011 first quarter
Net sales are expected to be between $9.1 billion and $9.9 billion, or to grow between 28% and 39% compared with first quarter 2010 and operating income is expected to be between $260 million and $385 million, or between 34% decline and 2% decline compared with first quarter 2010 (Eldridge, 2011). In 2010 Amazon’s Kindle allocated the majority of their advertising money to Network Television ($51.7 mil), Cable TV ($16.5 mil), Magazines ($18.5 mil) and National Newspapers ($11.4 mil) (as per Ad$pender data). A small amount was allocated towards Spot TV ($3.4 mil), Sunday Magazines ($.5 mil) and Newspapers ($.1 mil)(as per Ad$pender data)(Chart 2).
•High contrast e-ink screen- 50% better contrast offers the clearest text and sharpest images with the latest e-ink pearl display •Read in sunlight- Unlike LCD screens, Kindle’s screen reads like real paper, with no glare •Lighter than a paperback- 6 in viewing screen only 8.5 ounces and 1/3 of an inch thin, Kindle is lighter than a paperback and thinner than a magazine. •Holds 3,5000 books •Battery life up to one month •Built in Wi-Fi •Includes PDF reader •No eye strain like there is when looking at a backlit LCD screen
•Text to Speech- the Kindle will read English Language content out loud or with headphones (Amazon.com, Inc.b, 2011)
Currently the Amazon.com Kindle’s marketing strategy is focused on its product features. Their commercials and advertisements feature readers outside during various activities reading the Kindle without hurting their eyes in the harsh sunlight. The advertisements also show how easy the Kindle is to transport around and how many different types of books a reader could have on their Kindle. They involve a consumer approach by showing all different ages using the product. Kindle does not currently have a specific target market.
•Bookmark and highlight, keyboard text entries •Adjustable font size
kindle situation analysis 11
Kindle Situation Analysis
Sony Reader Competitor Analysis
Barnes & Noble Nook Competitor Analysis
Key Features and Benefits for Barnes & Noble E-Readers:
Sony was one of the first major electronic brands to come out with an electronic reader. In 2004 Sony introduced the Librié, the first eBook e-reader to use electronic ink and marks the first partnership with the E Ink Corporation (Dahan, 2010). In August of 2009 Sony partners with libraries internationally to allow for consumer to “borrow” eBooks from available library databases. Also in 2009 Blyth Academy became the first school to ever supply its students with Sony eBook readers preloaded with their textbooks. Today Sony offers three different types of e-readers; Daily Edition, Touch Edition and the Pocket Edition. Sony is the also the only strictly e-reader to offer a “touch edition”. The Sony Daily Edition is designed for reading newspapers with a taller 7” screen and can hold up to 50,000 eBooks at a time. The Sony Touch Edition has a 6” screen and is fully manageable with just a fingertip. The Sony Pocket Edition is one of the smallest e-readers with a 5” screen. In 2010 Sony allocated the majority of their advertising money to National Newspapers ($5.8 mil) and Newspapers ($1.6 mil)(as per Ad$pender data). A small amount was allocated towards Network TV ($.2 mil), Spot TV ($.1 mil) and Magazines ($2.6 mil) (as per Ad$pender data)(Chart 3).
Sony’s current advertising strategy is a generic claim that their e-readers offer the best e-reading experience. Their tagline represents their strategy “This is eReading” by suggesting that e-reading on any other e-reader does not offer the same benefits. By designing three different styles of e-readers Sony is trying to cover all the bases for any consumer type that may want to purchase an e-reader (Sony Electronics Inc., 2011).
Chart 3: Sony Brand E-Reader Total Advertising Expenditures Jan-Dec 2010 (000’s)
Key Features and Benefits for Sony E-Readers:
• Anti glare eInk Pearl technology • Wi-Fi and 3G internet available (Daily Edition) • 5.7 oz (Pocket Edition) to 9.6 oz (Daily Edition) • Aluminum designed material • 10 translation dictionaries • Supports EPUB open format and USB (5)
12 kindle situation analysis
• 14 day battery life (Pocket and Touch Edition) to 22 days (Daily Edition without wireless) • Expandable memory up to 32 GB (Touch and Daily Edition) • Bookmark and highlight, free hand notes • Adjustable font size • Periodical navigation options, intelligent zoom
Barnes and Nobel first introduced their version of the e-reader, the Nook, in October 2009. And a little over a year later in November 2010 they released the Nook Color as an in between device for its standard Nook e-reader and the tablet devices such as iPad. This is one of the first complete e-readers to be distributed that is full color (Dahan, 2010). The Nook used eInk to mimic the look of a book page making reading easy on the eyes without glare and easy to read even in direct sunlight. The Nook can store up to 1,500 eBooks, magazines, or newspapers, has 2GB of memory and a 6” screen. The Nook is navigated by a touch pad, but pressing the buttons on the side of the screen turns the pages. The Nook Color is designed like other e-readers except that it does not use eInk and is a full color reader by using VividView Color Technology. The Nook Color stores up to 6,000 eBooks. It can also store magazines, newspapers, 500 songs, and 150 photos. The Nook Color is fully navigated by touch and has a 7” screen. Both e-readers can connect to Wi-Fi Internet (BarnesandNoble.com, 2011).
• Anti glare eInk (Nook) and full color option (Nook Color) • Wi-Fi and 3G internet available • Long lasting battery life up to 10 days (without internet use –up to 7 days with internet use)(5) • 2GB memory (Nook) and 8GB memory (Nook Color) • High speed micro USB port (Nook Color) (BarnesandNoble.com, 2011) • 11.6 oz to 12.1 oz • Built in dictionary • Bookmark, highlight and annotate with virtual keyboard • Holds up to 1,5000 eBooks (Nook) to 6,000 eBooks (Nook Color) • Adjustable font size
Barnes and Noble allocated the majority of their money to Network TV ($5.6 mil), Cable TV ($2.4 mil), and National Newspapers ($2.8 mil)(as per Ad$pender data). A smaller bulk was spent on Syndication ($1.4 mil) and Spot TV ($1.5 mil). Even less was allocated towards Magazines ($.1mil) and Network Radio ($.07 mil)(as per Ad$pender data)(Chart 4). Barnes and Noble advertise their e-readers as “The Ultimate Reading Experience” (Nook Color) and “The Award Winning Best Selling EReader” (Nook). They also concentrate on their product and the many uses between the two products for their consumer. The Nook is positioned as a somewhat traditional e-reader while the Nook Color is positioned and designed to bridge the gap between e-reader and computer tablet. The Nook Color is designed for magazine reading in full color and has also been aimed toward parents with children. The vivid color features are a good selling point to market the Nook Color e-reader to children (BarnesandNoble.com, 2011).
Chart 4: Barnes & Noble Brand E-Reader Total Advertising Expenditures Jan-Dec 2010 (000’s)
kindle situation analysis 13
Kindle Situation Analysis
Apple iPad
Secondary Competitors Competitor Analysis
Competitor Analysis
Secondary competition for the Kindle would consist of other e-reader brands with similar functions such as the Pandigital Novel Reader and the Shaper Image Literati. Pandigital Novel Digital Book Key Features and Benefits for Pandigital Novel Digital Book:
Chart 6: Secondary Total Advertising Expenditures Jan-Dec 2010 (000’s)
The Apple iPad was first introduced in April 2010 and sold 300,000 in the first hour and over a million units in the first month (Dahan, 2011). The Apple iPad is a 9.7” tablet notebook computer that fits somewhere between the iPhone and the Mac laptop. It is just over half an inch thick and weighs 1.5lbs (Gardner, 2010). The iPad is operated completely by touch. All of the applications that are available for Apple iPhones are also available for the iPad along with many more. The iPad comes in 16, 32, and 64 GB memory capabilities each of which come with Wi-Fi or Wi-Fi+ 3G networking. The iPad functions like a computer for Internet surfing, but can also be used as an e-reader, video player, and music player (Gardner, 2010). Apple iPad allocated almost 80% of their advertising money to Network TV ($117.6 mil). Only 15% was allocated towards Cable TV ($22.6 mil) and the rest was split between Spot TV ($.06 mil), Magazines ($ 6.4 mil), Sunday Magazines ($ .2 mil), National Newspapers ($1.8 mil), and Outdoor Advertising ($.9 mil) (as per Ad$pender data)(Chart 5).
Chart 5: Apple iPad Total Advertising Expenditures Jan-Dec 2010 (000’s)
Apple’s advertising strategy for the iPad is both product based and consumer based. Their advertisements focus on all the different uses for an iPad and all the many ways that an iPad can make the consumers life easier, better, and more fun. Currently it is positioned as “A Magical and Revolutionary Product” (Apple Inc., 2011). . The iPad is much more than an e-reader but with the gap closing between the distinction of e-readers and tablets the iPad is seen as a threat to e-readers especially because the iPad comes equipped with e-reading capabilities and supports eBooks applications from other companies.
Key Features and Benefits for Sony E-Readers: • Available in 16, 32, and 64 GB memory • Large display 9.7” screen • Wi-Fi and 3G capable • Up to 9 hrs battery life • Bluetooth technology • Built in applications along with thousand of other applications available for download • Dock connector to sync with computer, headphone jack, and built in speakers
14 kindle situation analysis
• Supports English, French, German, Japanese, Dutch, Italian, Spanish, Simplified Chinese and Russian • iBooks application for e-reading is a free download • Also supports e-reading applications from other brands such as Kindle eBooks • Dictionary support • Backlit, multi-touch display • Assisted locator including GPS, cellular, Wi-Fi, and digital compass (7)
The secondary competition spent the majority of their advertising budget on National Newspapers ($.6 mil). The rest was allocated towards Cable TV ($.06 mil) and Magazines ($.03 mil)(as per Ad$pender data)(Chart 6).
• 7” LCD touch screen • 2GB internal memory • 802.11 b/g wireless LAN allows internet access • Barnes and Noble on-board online store allows access to over 1 million books, magazines, and newspapers • Weighs 11.8oz, .5” thick (Bestbuy.comb, 2011) Sharper Image Literati Key Features and Benefits for Sharper Image Literati: • 7” LCD screen • 512 MB internal storage • Wireless capability • DVD-Rom capability • 6 hrs continuous reading battery life (Sharper Image, 2011)
Traditional Paperback books may also be seen as secondary competition because some of the target markets for e-readers are not willing to make the switch to digital books. However, this may not be as much of a threat as first identified (Simba Information, 2010). Traditional book sales have been steadily declining and are projected to keep doing so in the coming years (Chart 7). Chart 7: Growth of the Consumer Book Publishing Industry 2007-2010 (000s’s)
kindle situation analysis 15
Kindle Situation Analysis
Competitive Expenditure Analysis This competitive expenditure analysis for Amazon Kindle includes analysis of the following e-reader brands Amazon Kindle, Sony Brand E-Readers, Barnes and Noble Brand E-Readers, Apple iPad, and Secondary Competitors (Pandigital and Sharper Image). The analysis will cover a one-year period from January 2010 to December 2010. Data was only used for the past calendar year because 2010 was the first year that all mentioned competition allocated advertising money. This will be followed by a comparison between Amazon Kindle and its top competitor. The data used in the analysis was obtained from Ad$pender database. All dollar amounts in the charts throughout the analysis are in (000)s unless otherwise specified.
Over 75% of money spent by the competitors was allocated to TV types, specifically Network and Cable TV. The other medium with a majority of the spending was Magazines with just under 10% of the spending (Chart 8). Barnes and Noble allocated money to the most types of TV, but Apple iPad spent the most on TV types. All competitors spent some money on at least one form of TV advertising, all competitors except Sony and Secondary Competition allocated money to more than one TV type. All competitors also allocated money towards Magazines ($25.4 mil) and National Newspapers ($22.4 mil). Amazon Kindle spent the most in both of these categories ($18.5 mil Magazines and $11.4 mil National Newspapers) (Table 2).
Brand
Media Total
Share of Voice
Amazon Kindle
98,838.7
36.4%
Barnes & Noble Brand E-‐ Readers Apple iPad
14,115.4
5.2%
Sony Brand E-‐Readers
Secondary Competition (Pandigital & Sharper Image) Total
7,881.2
2.9%
149,793.7
55.2%
271,321.7
100%
692.7
.3%
Table 1: Competitive Expenditure Analysis Among E-Reader Brands January-December 2010 (000)
The first category looked at is the total spending by competitors from January- December 2010. This group of competitors spent a total of $271 million during 2010 (Table 1). Apple iPad had the highest level of expenditures with $149.7 million (55.2% category SOV). Amazon Kindle had the next highest expenditure, spending approximately $98.8 million (Amazon Kindle’s category SOV 36.4%). Barnes and Noble and Sony followed, spending $14.1 million and $7.8 million (Barnes and Noble earned a 5.2% SOV while Sony earned a close 2.9% SOV). Secondary Competitors (Pandigital and Sharper Image) had the least expenditures of the group only spending $.7 million (.3% category SOV).
Chart 9: Media Total Spending Among E-Reader Brands January- December
Chart 8: Category Share of Voice (SOV) Graph Among E-Reader Brands January-December 2010
Brand
Media Total
Net TV
Cable TV
Synd TV
Spot TV
Mag
Sun Mag
Natl NewsP
NewsP
Network Radio
Outdoor
Amazon Kindle Sony Brand Barnes & Noble Brand Apple iPad Secondary Competitors Total
98,838.7
51,720.6
16,459.8
-‐
3.4
18,489.3
588.9
11,433.7
143.0
-‐
-‐
149,793.7 692.7
117,581.6 22,635.9 -‐ 62.5
58.4 -‐
6,416.9 31.1
274.3 -‐
1,826.6 599.1
-‐ -‐
999.9 -‐
7,881.2 14,115.4
271,321.7
16 kindle situation analysis
166.1 5,697.2
-‐ 2,435.8
-‐ 1,458.2
.1 1,511.7
175,165.5 41,593.9
1,458.2
1,574.2
-‐ -‐
268.6 144.1
25,350.0
-‐ -‐
863.2
Table 2: Media Mix Chart Among E-Reader Brands January- December 2010 (000)*
5,845.7 2,793.6
1,600.7 -‐
75.0 -‐
22,498.7
1,743.7
75.0
-‐ -‐
-‐ -‐
999.9
During the months of January- December 2010 every media type was utilized by at least one competitor (mostly Amazon Kindle or Apple iPad) (Table 2). The least utilized media type was Network Radio, used only by Sony allocating $.07 mil. Another media type that was underutilized was Outdoor advertising. Apple was the only brand to use this medium allocating $.9 mil (Table 2). Network TV was allocated the majority of spending from the category (65%). Followed by Cable TV (15%), Magazines (9%), and National Newspapers (8%) (Chart 9).
Kindle Situation Analysis
Consumer Analysis Demographics
Psychographics Kindle users can be characterized by their love of reading. They are avid readers. Kindle users are educated and have made an educated decision to purchase their Kindle. They know its features. They know it is not an iPad or a tablet PC, and are happy about that. Technology is merely a way to make reading convenient, but it should not get in the way or interfere with the story (Bradley, 2010). These consumers are married (63%) and are “Webcentric,” with 199% more likely to access the Internet outside the home, 154% more likely to access the Internet on a cell phone or mobile device, and are 116% more likely to be a “heavy” Internet user (than the average U.S. adult). Due to higher educational levels associated with e-reader users, these persons tend to be electronically savvy, having access to the Internet via computer, phone, and other mobile devices (Florida Communications Group, 2010).
Chart 10: Kindle Owners By Age Group (Source: Amazon Boards)
Chart 11: Kindle User Demographics By Age (Source: Amazon Boards)
Sony was one of the first major electronic brands Roughly 2.1 million adults currently own an E-reader (Sterling, 2010). 57% of this population has bought at least one book in the past year (2009 data, but is continuing to increase). 37% of e-book purchasers have bought their first digital book within the last six months (Holt, 2010).
Females use the Kindle more than males. 66% of Kindle owners are female while 34% are male. In addition, nearly 75% are Caucasian (Ghosts of horatio alger, 2010). Female interest is bolstered through female celebrity endorsements by popular talk show host Oprah Winfrey (Stone) and movie star Sarah Jessica Parker.
Of the 2.1 million current users, Amazon’s primary audience consists primarily of an older, more established market, with a primary age range of 50-59 year olds (Chart 10, Chart 11). This age group purchases the most eBooks online. These older users find that the Kindle helps to alleviate many health ailments, such as arthritis, weakening eyes, and carpal tunnel syndrome, which can make the traditional book-reading experience painful (Benton, 2009).
The recent drop in price of the Kindle ($139) has “altered” the demographic landscape of those who buy Kindles, by introducing a younger audience, with less disposable income than the older, early Kindle adopters. Consumers under 18, and consumers 65+ had the largest increases after the Kindle 3 price drop, though the 35-44 age range also saw significant gains (Milliot, 2010). All groups, however, have begun buying more Kindles because of the lower price, indicating that price is a critical aspect to consumer purchasing decision regarding the Kindle.
Behind this age group are age ranges 40-49 years, 60-69 y ears, and 30-39 years, respectively (Peters, 2009). In association to age, purchases tend to be made by higher income households in the $65,000-150,000 range (Holt, 2010). Education, too, tends to be greater for these age groups. According to Nielsen 2010 data, 44% of Kindle users make more than $80,000 a year (Nielsen Wire, 2010). Kindle owners are typically employed full-time, own their own home, use the Internet frequently, and have a four-year college degree, if not more (Sterling). One study suggests that nearly 72% of E-reader users have a degree, the biggest percentage of which having a 4-year degree, followed by Masters and Doctoral degrees, respectively (Ghosts of horatio alger, 2010). Nielsen data from 2010 reveals that 27% of Kindle owners have a graduate level education (Nielsen Wire, 2010). 18 kindle situation analysis
The decreasing price of the Kindle has enabled more ethnicities to purchase the E-reader as well. 2009 data showed that 60% of Asians, 50% of African Americans, 44% of Hispanics, and 61% of Caucasians bought at least one eBook in the previous year. Of those who bought 10 or more paperbacks in the previous year Caucasians were again the leader (8.4%), followed closely by Asians (8.3%), African Americans (3.3%), and Hispanics (3.2%) (Simba Information, 2010).
Geographics The Kindle currently has an international sales base consisting of countries from all continents. The primary focus of research will concern consumers of the United States. Of these U.S. citizens, nearly half of E-reader users reside in the suburbs (Simba Information, 2010). This goes along in accordance to the age, education, and income levels associated, as the older generations have less interest in city life and begin, or in most cases, have already established a family residence in a suburban area.
Typical Kindle users (in their 50s) “share a common child-centric time of upbringing. The shared values of the younger and older boomers include a belief in a meritocracy, respect for knowledge and a lack of respect for authority.” They value individualism, skepticism, and a desire to hang on to their youth. They travel more than other cohorts, accounting for 259.4 million trips in 1999 (National Tour Association, 2002).
Behavioristics Kindle is purchased through online shopping/ shipping site Amazon.com. Interest in material outside printed books is becoming more popular (for instance periodicals, magazines, and blogs). In regards to usage levels, women tend to be the primary shoppers of households, and are categorized more frequently as “heavy” buyers (10%), over their male counterparts (4.7%) with regards to E-reader purchase. 56% of E-reader owners use the Internet as a source for finding information on products (Simba Information, 2010). The Kindle is a popular travel companion due to the non-glare screen, portability of the device, and long lasting battery. 30% of Kindle users reported using the Kindle daily, while 50% said they used it several times a week (Wikert, 2009).
The easy to use interface of the product make acclimation time almost immediate (thus the older, early adopters). Because of advances in technology and its increasing ability to be user-friendly, older adults are shifting towards electronic means of operation in their daily lives. This is evident in the attitudes of those who have bought E-readers. Once a consumer begins using an E-reader and eBooks, they do not want to go back to strictly paper books. 25% of eBook buyers bought fewer print books than before, 32% said they would wait for their favorite book to come out on eBook over purchasing a hard cover option, and 15% have switched entirely to purchasing via online and have ceased from buying print books (Holt, 2010).
Adoption time for the device can be viewed in three stages, in accordance with the release of the different Kindle models. With the release of the Kindle in 2007, early adopters were older, educated, and wealthy. When the Kindle 2 was released in 2009, the demographic began to add younger audiences, with the 35+ crowd coming on board. With the release of the Kindle 3 in 2010 (and the accompanying price drop), users under the age of 18 began to come on board with the product. kindle situation analysis 19
Kindle Situation Analysis
References AAP. (2010). Year to date e-book sales comprise 9.0% of trade book sales. Retrieved from http://www.publishers.org/main/PressCenter/Archicves/2010_Oct/AugustStatsPressRelease.htm Amazon.com, Inc. (2011). Amazon.com announces fourth quarter sales up 36% to 12.95 billion. Retrieved from http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irolnewsArticle&ID=1521090&highlight Amazon.com, Inc.b, (2011). Retrieved from http://www.amazon.com/dp/B002Y27P3M/?tag=googhydr-20&hvadid=7161672071&ref=pd_sl_dda9exctw_e Apple inc. (2011). Retrieved from http://www.apple.com/ipad/ Barnes and noble.com. (2011). Retrieved from http://www.barnesandnoble.com/nook/features/index.asp?cds2Pid=35611 Benton, J. (2009). Kindle users skew older; does that impact news biz’s revenue hopes? Retrieved from http://www.niemanlab.org/2009/04/kindle-users-skew-older-does-thatimpact-news-bizs-revenue-hopes/ Bestbuy.com. (2011). Retrieved from http://www.bestbuy.com/site/iPad-Tablet-PCs/iPad/pcmcat209000050007.c?id=pcmcat209000050007&ref=30&loc=KW-3163&s_kwcid=TC| 8064|iPad||S|e|11596707679 Bestbuy.comb. (2011). Retrieved from http://www.bestbuy.com/site/Pandigital+-+Novel+Digital+Book+-+Black/1409299.p?id=1218255942091&skuId=1409299&cmp=RMX&ref =06&loc=01&ci_src=14110944&ci_sku=1409299 Bradley, T. (2010). Kindle users aren’t looking for a tablet pc. Retrieved from http://www.pcworld.com/businesscenter/article/187468/kindle_users_arent_looking_for_a_tablet_pc.html Briand, P. (2009). Will kindle change baby boomer reading habits?. Retrieved from http://www.examiner.com/baby-boomer-in-national/will-kindle-change-baby-boomer-readinghabits Dahan, M. (2010). A brief history of ebooks. Retrieved from http://goodereader.com/blog/electronic-readers/a-brief-history-of-ebooks/ Dahan, M. (2011). Google launches ‘one pass’ for digital publishing. Retrieved from http://goodereader.com/blog/tablet-slates/google-launches-one-pass-for-digital-publishing/ Davies, C. (2010). B&N nook color on sale now; new firmware for original nook next week. Retrieved from http://www.slashgear.com/b-new-firmware-for-original-nook-nextweek-16114369/ Eldridge, R.T. (2011). Amazon media room: news release. Retrieved from http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=1521090&highlight Ereader sales estimates exclusive via digitimes. (2010). Retrieved from http://ireaderreview.com/2010/01/24/ereader-sales-estimates-exclusive-via-digitimes/ Fabio, M. (2009). Can amazon legally delete books from your kindle? Retrieved from http://www.legalzoom.com/intellectual-property-rights/copyrights/can-amazon-legallydelete-books Florida Communications Group (2010). Demographics of kindle and other ereader users. Retrieved from http://floridaresearchgroup.wordpress.com/2010/02/16/demographics-ofkindle-and-other-ereader-users Gardner, B. (2010). Ipad tablet. Retrieved from http://apple-tablet-review.com/apple/ipad-tablet/ Ghosts of horatio alger. (2009). Retrieved from http://ghostsofhoratioalger.com/2009/05/results-of-kindle-user-demographic-survey/ Goldman, J. (2010). Apple sells 1 million ipads. Retrieved from http://www.cnbc.com/id/36911690 Holt, K. (2010). E-book sales statistics from bisg survey. Retrieved from http://publishingperspectives.com/2010/05/e-book-sales-statistics-from-bisg-survey/ Hsn inc. (2011). Retrieved from http://electronics.hsn.com/sharper-image-7-color-ereader-with-wi-fi-access-to-kobo-bookstore_p-6310389_xp.aspx?rdr=1&sourceid=googlebrand &cm_mmc=Paid%20Search%20Brand-_-Google-_-Electronics-_-+sharper%20+image%20+ereader&utm_source=google&utm_medium=cpc&ut
20 kindle situation analysis
Hsn inc. (2011). Retrieved from http://electronics.hsn.com/sharper-image-7-color-ereader-with-wi-fi-access-to-kobo-bookstore_p-6310389_xp.aspx?rdr=1&sourceid=googlebrand &cm_mmc=Paid%20Search%20Brand-_-Google-_-Electronics-_-+sharper%20+image%20+ereader&utm_source=google&utm_medium=cpc&ut Irwin, N. (2010). Fed lowers economic expectations for 2011. The Washington Post. Retrieved from http://www.washingtonpost.com/wp-dyn/content/article/2010/11/23/ AR2010112307234.html Kennedy, S. (2010). EBooks by the numbers. Information Today, 15. Kindle, Baby Boomers. (2009). Retrieved from http://ireaderreview.com/2009/05/22/kindle-baby-boomers/ Kwan, M. (2011). E-reader sales to reach $8.2 billion by 2014. Retrieved from http://www.mobilemag.com/2011/02/09/e-reader-sales-to-reach-8-2b-by-2014 Kwan, M. (2008). Amazon kindle legal issues: Do you really own the e-book? Retrieved from http://www.mobilemag.com/2008/03/21/amazon-kindle-legal-issues-do-you-reallyown-the-e-book/ McCracken, H. (2011). Are apple’s iphone e-reader rules changing? Tough to tell. Retrieved from http://technologizer.com/2011/01/31/sony-reader-iphone/ Milliot, J. (2010). Digital reader penetration accelerates. Publishers Weekly, Retrieved from http://www.publishersweekly.com/pw/by-topic/digital/content-and-e-books/ article/45325-digital-reader-penetration-accelerates.html Molchanov, D., & Howe, C. (2011). 2011 us e-book forecast: Get set for the next best-seller. Retrieved from http://www.yankeegroup.com/ResearchDocument.do?id=55383 National Tour Association. (2002). “ Current assessment report (CAR) for the baby boomer market.” Lexington, KY; Author Nickson, C. (2009). Amazon kindle 2: Does it violate author’s rights? Retrieved from http://www.digitaltrends.com/talk-backs/amazon-kindle-2-does-it-violate-authors-rights/ Nielsen Wire. (2010). The connected devices age: Ipads, kindles, smartphones and the connected consumer. Retrieved from http://blog.nielsen.com/nielsenwire/consumer/theconnected-devices-age-ipads-kindles-smartphones-and-the-connected-consumer/ Paczkowski, J. (2010). Latest guess at kindle sales: 5 million this year, 11.5 million in 2012. Retrieved from http://digitaldaily.allthingsd.com/20100929/kindle-sales/ Pepitone, J. (2010). How many kindles did amazon really sell? Retrieved from http://money.cnn.com/2010/08/25/technology/kindle_sales/index.htm Peters, S. (2009). Kindle demographics. Retrieved from http://kindleculture.blogspot.com/2009/04/kindle-demographics.html Rutledge, P. (2010). 15 Techno-cultural trends for 2011. Retrieved from http://www.psychologytoday.com/blog/positively-media/201012/15-techno-cultural-trends-2011 Schonfeld, E. (2011). Apple’s digital newsstand just disrupted the publishing industry. Retrieved from http://techcrunch.com/2011/02/15/apples-digital-newsstand-just-disruptedthe-publishing-industry/ Simba Information (2010). “Business of consumer book publishing 2010.” Stamford, CT; Author. Smith, M. (2010). Apple’s ipad replaces amazon kindle of e-reader market share. Retrieved from http://blog.wareseeker.com/all/software-development/apples-ipad-replacesamazon-kindle-of-e-reader-market-share/ Sony. (2009). Sony announces two new additions to the reader family; Drops ebook pricing. Retrieved from http://news.sel.sony.com/en/press_room/consumer/computer_ peripheral/e_book/release/41163.html Sony electronics inc.. (2011). Retrieved from http://www.sonystyle.com/webapp/wcs/stores/servlet/ContentDisplayView?hideHeaderFooter=false&storeId=10151&catalogId=1055 1&langId=-1&cmsId=reader_kindle_comparison Sterling, G. (2010). “Kids, mobile phones, and ereaders.” Retrieved from http://internet2go.net/news/data-and-forecasts/kids-mobile-phones-and-ereaders-0 Stone, B. (2009). Amazon.com’s new kindle is lighter, brighter, and chattier. Retrieved from http://bits.blogs.nytimes.com/2009/02/09/live-blogging-amazons-kindle-20-launch/ Swinton, N. (2009). The e ink ebook reader – a short history on the origins of the digital book. Retrieved from http://ezinearticles.com/?The-E-Ink-eBook-Reader---A-ShortHistory-on-the-Origins-of-Digital-Book-Readers&id=2955249 The Conference Board. (2011). Global business cycle indicators. Retrieved from http://www.conference-board.org/data/bcicountry.cfm?cid=1 The New York Times. (2011). The economy in 2011. The New York Times, WK7. Retrieved from http://www.nytimes.com/2011/01/02/opinion/02sun1.html United States Census Bureau. (2008). Average annual expenditures of all consumer units by selected major types of expenditure [Data file]. Retrieved from http://www.census.gov/ compendia/statab/2011/tables/11s0683.xls Wikert, J. (2009). Ebook survey results. Retrieved from http://jwikert.typepad.com/the_average_joe/2009/08/ebook-survey-results.html
kindle situation analysis 21
kindle situation analysis 23
Content
How to make a costome 08 4 Content 6
Static Content
8
Article with an image
12
Article with a photo 2
15 Profile 15 Header 20
Article with Collage
Dancing with the stars 14
Top model session 27
Interview witn Johana Doe 34
24 Biography
Interesting Text Here Donec pede justo, fringilla vel, aliquet nec, vulputate eget, arcu. In enim justo, rhoncus ut, imperdiet a, venenatis vitae, justo. Nullam dictum felis eu pede mollis pretium. Integer tincidunt. Cras dapibus. Vivamus elementum semper nisi. Aenean vulputate eleifend tellus.
Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Aenean commodo ligula eget dolor. Aenean massa. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Donec quam felis, ultricies nec, pellentesque eu, pretium quis, sem. Nulla consequat massa quis enim..
Static Content
06. Vivamus elementum. Nam eget dui. Etiam rhoncus. Maecenas tempus, tellus eget condimentum rhoncus, sem quam semper libero, sit amet adipiscing sem neque sed ipsum. Nam quam nunc, blandit vel, luctus pulvinar, hendrerit id, lorem. Maecenas nec odio et ante tincidunt tempus. Donec vitae sapien ut libero venenatis faucibus. Nullam quis ante. Etiam sit amet orci eget eros faucibus
01. Stage in Product Life Cycle 02. Amazon’s Kindle is currently in the growth stage of the product life cycle. Amazon has said it is seeing its highest sales volumes ever on the Kindle and eBooks in general with the 2010 release of the Kindle 3. Gross profits have increased each year since the Kindle’s introduction in 2007. Amazon has earned profit reaching from a little over $3 billion in 2007 to over $8 billion in 2010. Ebook sales have increased exponentially in the past year, now accounting for over 9% of the total book market. Public awareness of the Kindle and the eBook market has been on a steady incline since the introduction of the Kindle in 2007. The E-reader market, which was once limited to Amazon, Sony and a few others is now fiercely competitive with many different E-readers featuring similar features and competitive pricing. Amazon recently slashed prices of the Kindle 3 amidst heavy competition from Barnes and Noble’s Nook and Nook Color, the Apple iPad, and others.
tincidunt. Duis leo. Sed fringilla mauris sit amet nibh. Donec sodales sagittis magna. Sed consequat, leo eget bibendum sodales, augue velit cursus nunc. 07. Aenean leo ligula. 08. Aenean commodo.
Donec pede justo, fringilla vel, aliquet nec, vulputate eget, arcu. In enim justo, rhoncus ut, imperdiet a, venenatis vitae, justo. Nullam dictum felis eu pede mollis pretium. Integer tincidunt. Cras dapibus. Vivamus elementum semper nisi. Aenean vulputate eleifend tellus.
03. Seasonality 04. Kindles see a sales spike in Q4 of each year and eBooks see a similar spike in Q4 of each year as a result of the holiday season. The Kindle is a very popular holiday gift item for consumers. Amazon had sales of $12.95 billion and net income of $416 million or $0.91 per share in the fourth quarter of 2010. Amazon’s sales for 2010 are up 36% from $9.52 billion during the same period a year ago, and net income is up $384 million, or $0.85 per share in that time (Amazon.com, Inc., 2011). 05. Aenean vulputate
09. Consectetuer adipiscing. Onec pede justo, fringilla vel, aliquet nec, vulputate eget, arcu. In enim justo, rhoncus ut, imperdiet a, venenatis vitae, justo. Nullam dictum felis eu pede mollis pretium. Integer tincidunt. Cras dapibus.
Profile Header Ideal to start people profiles Omnesque inciderint nec at, minim commodo vim te, in paulo consectetuer est. Aliquyam moderatius an nec. Hinc impedit est ea. Vix quas bonorum neglegentur at, an veniam definitiones cum, est at copiosae forensibus. Docendi recteque et eum, assueverit inciderint ullamcorper id eos.
kindle situation analysis 29
Template for using a full-size photo Amet zzril consetetur ea mea Similique sadipscing comprehensam cum ea, pisci sententiae vix id! Vel ocurreret.
Kindle Media Plan Luptatum, amet zzril consetetur ea mea? Similique sadipscing comprehensam cum ea, pisci sententiae vix id! Vel ocurreret. Luptatum, amet zzril consetetur ea mea? Similique sadipscing comprehensam cum ea, pisci sententiae vix id!
Luptatum, amet zzril consetetur ea mea? Similique sadipscing comprehensam cum ea, pisci sententiae vix id! Vel ocurreret.
Luptatum, amet zzril consetetur ea mea? Similique sadipscing comprehensam cum ea, pisci sententiae vix id! Vel ocurreret. kindle situation analysis 33
Biography Lorem ipsum eu nec everti indoctum at mei meis denique legendos. Ut nec sint utinam, ea pri tation mollis similique? Per et option sapientem, ad meliore eleifend sea, eius consequat percipitur cu pro? Cu sed molestiae moderatius delicatissimi, an eos feugiat oporteat? Te est sale utamur, vel menandri ocurreret te. Qui eros vivendum ne. Ad vidit blandit mentitum ius. An populo qualisque ullamcorper est, cu pri vidisse aliquam consequuntur! Velit debitis vivendum est in, pri ut dicit feugait, ne etiam tincidunt eos. Sumo voluptatum vis in. Lorem ipsum eum justo nominati at eam te fastidii conceptam? Modus atqui ad eum, mea erroribus dignissim interesset ne? Ex dicit dolore postulant vel. Alia zzril facete eam in, no qui tation ullamcorper, mel no veri iuvaret consequat. Partem utamur. In alterum accusam mel, ad omnium inimicus usu. Porro ipsum ignota ei mea, mutat facilisis usu te? Sed an legendos prodesset referrentur, eam in vero veri simul, no his labores tincidunt neglegentur. His ei alia ipsum errem? Kasd simul his ad, nec eu viderer complectitur. Sed possim mollis offendit ne, nonumy putent pro an! Cum eu fierent praesent. Posse ignota omittantur ea has? fastidii invenire cotidieque nam et, vis docendi convenire no. An vel dicam exerci officiis, vis exerci persius graecis at, enim argumentum no eum. Per ad odio veniam detraxit. Has te commodo percipit, ei tempor persius cum. Probo dissentiet comprehensam ius ea, nam ut porro ludus accusamus! Ignota maiorum placerat eu nec. Te est sale utamur, vel menandri ocurreret te. Qui eros vivendum ne. Ad vidit blandit mentitum ius. An populo qualisque ullamcorper est, pri ut dicit feugait, ne etiam tincidunt eos. Sumo voluptatum vis in. Lorem ipsum eum justo nominati at, eam te fastidii conceptam? Modus atqui ad eum, mea erroribus dignissim interesset ne? Ex dicit dolore postulant.
Photo Gallery Lorem ipsum mel et option alterum minimum, an reformidans consectetuer mea, cu vel modo dicat? Porro nostro eos at. Ius at rebum doctus. Id has malis integre omnesque, cum cu esse audire splendide. Eius posse malis mel ei? No vidit tamquam est! Et modus necessitatibus usu, in vim sint nemore takimata. Te albucius percipit vivendum mel. Iriure constituto ut his, ad duo vidit libris persecuti. Vix omnis neglegentur in, eu rebum aperiam explicari sea, an choro clita sit. Te eam mazim legimus platonem. Vero vidisse sea ei, vis dicit utroque ut, eam et stet malis. Et possim expetendis ius. Sea id reque ullum apeirian, pri aeque delicata id. Sit an idque pertinacia maiestatis, vide percipitur sed ut! Ad sit propriae efficiendi, eu duis quas vim. Vel clita iisque convenire ad. At sumo hinc usu? Munere ponderum est an, sint equidem his no, paulo graeci scaevola no eos. Error persequeris vix an, eos cu vidit necessitatibus. Id sit deserunt repudiare. Feugait omittam pri te, pro ne graecis corpora. Eos id diam solum bonorum, clita semper sea ne, eum te adipisci definitionem! Mundi eirmod pericula vel at. Sed animal admodum facilisis ei, ex magna cetero vocibus his. Ius eu dico audire antiopam. possim mediocrem his civibus omittam. Quo eu rebum paulo fabellas, alii prima cu eum. Mel tincidunt delicatissimi ei, wisi mutat.
Big photo with description template Omnesque inciderint nec at, minim commodo vim te, in paulo consectetuer est. Aliquyam moderatius an nec. Hinc impedit est ea. Vix quas bonorum neglegentur at, an veniam definitiones cum, est at copiosae forensibus. Docendi recteque et eum, assueverit inciderint ullamcorper id eos. Omnesque inciderint nec at, minim commodo vim te, Omnesque inciderint nec at, minim commodo vim te,
Advertising
Kindle Situation Analysis
Article with an image Perfect for interviews Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie 40 kindle situation analysis
consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volu-
tpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat.
Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua.At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua, at vero eos et accusam et justo duo dolores. kindle situation analysis 41
Kindle Situation Analysis
42 kindle situation analysis