Marie Jackson Revitalizing Renfield Farms 2 Case Study Solution and Analysis
Introduction
Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis is the largest publishing business with a highest market share in the China's book retail market. CMP has ended up being a specialized details service provider and a large extensive Science and Innovation publishing business through the integration of print media, audio-visual media and the network media.
Vital Problems
CMP has invested its 60 years journey efficiently, being an effective publishing house, however, the altering macro market trends and forces bring specific obstacles to the publishing market in general and Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis in specific. These factors include;
• Entrance of the brand-new publishing companies in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Improvement of science and innovation.
The change of the macro markets have raised a number of 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 capabilities of the company could be made use of to pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis has certain strengths that can be utilized to minimize the hazards, overcome the weak point and get the chances. Strengths of CMP are provided as follows;
• The long term experience of Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis in the publishing industry i.e. 60 years allows the company to supply high quality items at a lower cost using its previous experiences.
• The technical resources and capabilities generated by its successful journey provide a competitive advantage to CMP.
• Vast item portfolioof CMP helps it to diversify its danger and offer high value to its clients.
• Strong financial position enables the company to think about numerous development chances without any fear of raising fund externally.
Weaknesses
Together with the strengths, the company has particular weak points which could increase restrictions for the business in implementing its development program. The weaknesses of Marie Jackson Revitalizing Renfield Farms 2 Case Study Solution are offered as follows;
• Despite of being a science and technology publishing company, the business still has conventional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It should propose certain growth strategies to avoid its dependence over the Chinese markets to attain long term development.
Opportunities
The development of the publishing industry is decreasing given that 2008, impacting Marie Jackson Revitalizing Renfield Farms 2 Case Study Help as well, but the development might be revived by availing specific chances presented in the market. The market opportunities for CMP consist of;
• The company might likewise introduce Digital Publishing by using its long term technical experience and a strong client recognition in the market.
• CMP might consider a development program through the growth towards foreign markets in order to reduce its dependence over Chinese markets by using its vast financial resources.
Threats
The altering macro patterns in the market and increasing competitors in the publishing market has presented particular hazards to Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could lead to declining market share of Marie Jackson Revitalizing Renfield Farms 2 Case Study Solution due to the consumer shift towards digital libraries.
• The existence of large number of competitors in the publishing industry increase the hazard for CMP to lose its competitive position in the market, as competitors can get a strong customer base by using particular techniques like aggressive promotion, quality products, and so on
• Entryway of brand-new publishing companies in the industry together with presence of high competition increases the risk of losing the consumer base.
Financial Analysis.
The business has a rather competitive financial performance. Due to absence of information, the monetary ratios of CMP might not be determined. Nevertheless, the general monetary efficiency of the company might be examined by using the graphs given in the case Appendices. It might be examined from the Appendix III that the annual total incomes of CMP throughout the duration 2000-2012 are growing at a high growth rate, revealing that the yearly demand of the items of Marie Jackson Revitalizing Renfield Farms 2 Case Study Solution is growing and the company is rather efficient in drawing in a a great deal of clients at a potential price.
Along with it, the 2nd chart which reveals the yearly growth in the Marie Jackson Revitalizing Renfield Farms 2 Case Study Help total properties, shows that the company is rather efficient in adding worth to its assets through its incomes. The growth in properties shows that the total worth of the company is likewise increasing with increasing the total revenues. (Unidentified, 2013).
Another financial analysis of the business utilizing the given information might be the analysis regarding the circulation of total revenues of the business. Major part of the revenues of CMP comes from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The company might move towards other service segments with a possible growth to attain its future development goal.
PESTEL Analysis
PESTEL analysis could be carried out to discover the numerous external forces affecting the efficiency of the business and the current patterns in the external environment of the business. A brief PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial influence on the mindset of individuals about the communist ideology of the federal government, for that reason, the publishing sector is extremely supervised and guided by the Promotion Department of the Communist Party of China. Therefore, it might be stated that the general political forces impacting Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis business are high. The government policies regarding the publishing sector are likewise increasing with the passage of time.
Economical.
Economic forces affecting the publishing sector in basic and the CMP in particular includesthe costs of paper, the income level of customers, the inflation rate, and the total GDP development of the country. All these forces combine effect the demand for the publishing market.
Social and Demographical.
The consumer preferences are moving towards digital publishing rather than the standard was of publishing. In this regard, CMP ought to focus on digital publishing to satisfy the changing consumer preferences.
Technological.
Technological forces affecting the CMP include the technological improvement in the reading techniques and so on. Improvement of science and technology along with the rise of digital publishing could minimize the need for the CMP products, if certain actions would not be taken quickly.
Environmental.
Ecological forces affecting Marie Jackson Revitalizing Renfield Farms 2 Case Study Analysis includes the concerns of environmental communities over the use of paper in publishing books. The paper utilized in the books while publishing is required to be disposable and the ink utilized while publishing ought to not be damaging for the environment.
Legal.
Legal policies for the publishing sector at whole are high. The legal regulations concerning the publishing sector is managed by the General Administration of Press and Publication. Publishing Ordinance 1997 requires the publishers to be authorized initially by the Government to be entered in the publishing market. The regulation prohibits direct participation of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's Five Forces Model).
Porter's Five Forces Model might be used to evaluate the beauty of the publishing market China. A quick analysis of the Porter's Five Forces is offered as follows;.
Danger of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Market is moderate. The possible growth in the industry tends to bring in new entrants to the publishing market. However, the presence of intense competition and the requirement of huge capital tends to demotivate new entrants to enter in the marketplace.
Risk of Substitution.
Threat of Replacement is high for the Chinese Publishing Market. The replacement products for the published files is the documents provided in the virtual libraries on certain sites. The altering consumer choices towards digital learning increase the danger of replacement for the market.
Competitive Competition.
Competitive rivalry in the publishing market is high. The presence of a great deal of customers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive competition for CMP. In addition to it, new entrants are likewise participating in the market increasing the competition for CMP.
Bargaining Power of Provider.
The major suppliers of the Marie Jackson Revitalizing Renfield Farms 2 Case Study Help consist of the suppliers of the paper for releasing documents. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the overall bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Bargaining power of buyer in the publishing market is high. Due to the presence of a a great deal of publishers in the Chinese market and the market saturation, the buyers needs high quality files at competitive prices.
Rivals Analysis.
CMP operates in a highly competitive industry with the presence of a great deal of competitors. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Major competitors of Marie Jackson Revitalizing Renfield Farms 2 Case Study Help include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a danger for CMP as it could wean its market share due to its long term competitive background. CIP is focused on digital publishing and could wean the market share of CMP easily in the existing market scenario.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was likewise established in the same period as CMP and CIP. It ranks sixth in the state-owned publishers in terms of service scale. It is also one of the prominent gamers in the publishing market with an annual overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Minimizing reliance over the Chinese markets.
• Increasing number of Customers
• Growth chances.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Use of prospective resources in growth.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to present utilizing current abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased product portfolio provides high value to customers.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core organisation sections to the new one can lead the company to lose need of its products in the market.
Suggestions
With the deep analysis of the external and internal environment of the business along with the market analysis and the rival analysis, Alternative 2 is recommended to CMP to accomplish its future advancement. As the choices are shifting towards digital publishing and the company need an instant option to avoid the decreasing industry development. For that reason, intro of digital publishing might prove to be an instant solution with low quantity of danger for the business. However, the business could also consider the expansion program after the success of its digital publishing program.
Application
In order to introduce digital publishing in its item portfolio, the company needs to first collects the information associated with the consumer demand, the prospective markets, the federal government regulations and the information associated with the rivals provided in the market. After that, the business needs to choose one possible segment for its initial offering. It needs to gather research study that how it might distinguish its digital publishing from the existing rivals' items. The actions above the business should go for the preliminary offering. The business needs to go for the other markets if the preliminary offering proves a success. In this method the company would be able to execute its digital publishing program.
Conclusion
Although, the growth of the publishing market is decreasing given that 2008, showing a hazard to the business's long term presence, however the scenario can be controlled by considering a development plan in the future. The company might think about presenting digital publishingin its existing market to execute its advancement program at instant basis and to avoid the threat of failure for entrance in the new markets.
