Integrated Marketing Communication Case Study Solution and Analysis
Intro
Integrated Marketing Communication Case Study Help is the largest publishing business with a highest market share in the China's book retail market. CMP provides a variety of services including; collecting details, processing information and interaction services. Significant service segments of the company include; books, regulars, consultancy and circulation. The company has a large item portfolio and its significant products consist of books, regulars, online media, exhibitions, research reports etc. Integrated Marketing Communication Case Study Analysis has actually become a specialized info service provider and a large detailed Science and Technology publishing company through the combination of print media, audio-visual media and the network media.
Important Issues
CMP has actually invested its 60 years journey smoothly, being an effective publishing home, however, the altering macro market trends and forces bring specific obstacles to the publishing industry in general and Integrated Marketing Communication Case Study Solution in specific. These elements include;
• Entrance of the brand-new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Improvement of science and innovation.
The transformation of the macro markets have raised several questions to the management at CPM that what could be the future of CMP in this circumstance? Do the long valuable experience, technical resources and the abilities of the company could be utilized to strive for the future development unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Integrated Marketing Communication Case Study Solution has particular strengths that can be used to decrease the risks, conquer the weakness and get the opportunities. Strengths of CMP are offered as follows;
• The long term experience of Integrated Marketing Communication Case Study Help in the publishing industry i.e. 60 years allows the company to provide high quality items at a lower expense using its prior experiences.
• The technical resources and capabilities generated by its effective journey offer a competitive advantage to CMP.
• Large product portfolioof CMP helps it to diversify its risk and provide high value to its clients.
• Strong monetary position allows the company to think about a number of development opportunities without any worry of raising fund externally.
Weaknesses
In addition to the strengths, the company has particular weaknesses which could increase restraints for the business in executing its advancement program. The weak points of Integrated Marketing Communication Case Study Solution are provided as follows;
• Despite of being a science and technology publishing firm, the company still has traditional methods ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It needs to propose particular expansion plans to prevent its reliance over the Chinese markets to achieve long term development.
Opportunities
Although, the development of the publishing industry is decreasing since 2008, affecting Integrated Marketing Communication Case Study Analysis as well, however the growth could be restored by availing specific opportunities presented in the market. The market chances for CMP include;
• The business could also introduce Digital Publishing by utilizing its long term technical experience and a strong client acknowledgment in the market.
• CMP could think about a development program through the expansion towards foreign markets in order to lower its dependence over Chinese markets by utilizing its vast funds.
Threats
The altering macro trends in the market and increasing competitors in the publishing market has posed particular risks to Integrated Marketing Communication Case Study Solution including;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might result in decreasing market share of Integrated Marketing Communication Case Study Help due to the customer shift towards digital libraries.
• The presence of large number of rivals in the publishing market increase the threat for CMP to lose its competitive position in the market, as competitors can get a strong customer base by using certain methods like aggressive promo, quality items, and so on
• Entryway of new publishing companies in the industry in addition to existence of high competitors increases the risk of losing the customer base.
Financial Analysis.
Due to absence of information, the financial ratios of CMP might not be determined. It could be evaluated from the Appendix III that the annual overall profits of Integrated Marketing Communication Case Study Help during the duration 2000-2012 are growing at a high growth rate, showing that the yearly need of the items of CMP is growing and the business is rather effective in attracting a big number of clients at a possible price.
Along with it, the second chart which reveals the annual growth in the Integrated Marketing Communication Case Study Analysis total possessions, shows that the company is rather efficient in including value to its possessions through its incomes. The development in assets reveals that the overall value of the company is also increasing with increasing the total earnings. (Unknown, 2013).
Another monetary analysis of the company utilizing the given data might be the analysis regarding the circulation of overall revenues of the company. Major part of the earnings of CMP comes from the sales of its released books i.e. 64% as shown in the Case Appendix V. The business could move towards other organisation segments with a prospective growth to achieve its future advancement goal.
PESTEL Analysis
PESTEL analysis could be performed to learn the numerous external forces impacting the performance of the business and the recent patterns in the external environment of the company. A short PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a considerable impact on the state of mind of the people about the communist ideology of the government, for that reason, the publishing sector is extremely supervised and assisted by the Promotion Department of the Communist Celebration of China. It might be said that the total political forces affecting CMP organisation are high. The federal government policies concerning the publishing sector are also increasing with the passage of time.
Cost-effective.
Economic forces affecting the publishing sector in general and the Integrated Marketing Communication Case Study Analysis in specific includesthe prices of paper, the income level of consumers, the inflation rate, and the general GDP development of the country. All these forces integrate effect the demand for the publishing market. In addition to it, the economic policies associated with the import of books impact the overall company at CPM. China's financial conditions are rather beneficial for CMP with high GDP growth and customer earnings level.
Social and Demographical.
Social and demographical forces consist of the population growth, the consumer's choices towards reading informative materials etc. China has the greatest population on the planet with a high population development, revealing the increasing variety of consumers of the Integrated Marketing Communication Case Study Solution. However, the customer choices are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to fulfill the altering consumer choices.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading techniques and so on. Enhancement of science and innovation along with the increase of digital publishing could reduce the need for the CMP items, if particular actions would not be taken quickly.
Environmental.
Environmental forces impacting Integrated Marketing Communication Case Study Analysis includes the concerns of environmental neighborhoods over the use of paper in publishing books. The paper utilized in the books while publishing is required to be non reusable and the ink utilized while publishing ought to not be harmful for the environment.
Legal.
Legal policies for the publishing sector at whole are high. The legal regulations relating to the publishing sector is managed by the General Administration of Press and Publication. Publishing Regulation 1997 requires the publishers to be approved initially by the Federal government to be gone into in the publishing market. The ordinance prohibits direct participation of foreign entities and individuals in the publishing sector.
Industry Analysis (Porter's 5 Forces Model).
Porter's Five Forces Design might be used to examine the attractiveness of the publishing market China. A quick analysis of the Porter's Five Forces is provided as follows;.
Risk of New Entrants.
Risks of new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the market tends to draw in brand-new entrants to the publishing industry. The existence of intense competitors and the requirement of substantial capital tends to demotivate brand-new entrants to go into in the market.
Risk of Alternative.
Risk of Substitution is high for the Chinese Publishing Market. The alternative products for the published documents is the files presented in the digital libraries on certain websites. The changing consumer preferences towards digital knowing increase the risk of alternative for the market.
Competitive Rivalry.
Competitive rivalry in the publishing industry is high. The presence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive competition for CMP. In addition to it, new entrants are likewise entering into the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The major providers of the Integrated Marketing Communication Case Study Solution include the suppliers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the overall bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Haggling power of purchaser in the publishing market is high. Due to the existence of a a great deal of publishers in the Chinese market and the marketplace saturation, the buyers needs high quality documents at competitive prices.
Competitors Analysis.
CMP operates in an extremely competitive market with the presence of a great deal of rivals. The company has a competitive position in the market with the greatest market share in the Chinese publishing market. Significant competitors of Integrated Marketing Communication Case Study Solution consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a hazard for CMP as it could wean its market share due to its long term competitive background. CIP is focused on digital publishing and might wean the market share of CMP easily in the present market scenario.
Posts and telecommunication Press (PTP).
It was likewise established in the very same period as Integrated Marketing Communication Case Study Help and CIP. It is likewise one of the popular gamers in the publishing market with a yearly total incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Decreasing dependence over the Chinese markets.
• Increasing number of Customers
• Growth chances.
• Preventing the impact of market saturation in the Chinese publishing market.
Cons
• Usage of possible resources in expansion.
• Risk of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to present using current capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio supplies high worth to consumers.
Cons
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core company segments to the brand-new one can lead the company to lose need of its products in the market.
Recommendations
As the choices are shifting towards digital publishing and the company need an immediate option to avoid the decreasing market growth. The company could also think about the growth program after the success of its digital publishing program.
Application
In order to present digital publishing in its product portfolio, the business must first gathers the information related to the customer need, the prospective markets, the government policies and the information related to the competitors provided in the market. After that, the business ought to decide one possible segment for its initial offering. It ought to collect research that how it could separate its digital publishing from the existing competitors' items. The steps above the company ought to go for the initial offering. The business ought to go for the other markets if the initial offering shows a success. In this way the company would be able to implement its digital publishing program.
Conclusion
The development of the publishing industry is decreasing because 2008, revealing a danger to the business's long term existence, however the circumstance can be controlled by thinking about a development plan in the future. The business could think about introducing digital publishingin its existing market to execute its development program at instant basis and to prevent the threat of failure for entrance in the new markets.
