Marketing Plan Focus Glasses Case Study Solution and Analysis
Intro
Marketing Plan Focus Glasses Case Study Solution is the biggest publishing company with a greatest market share in the China's book retail market. CMP supplies a variety of services consisting of; collecting details, processing info and interaction services. Major service sections of the business consist of; books, regulars, consultancy and distribution. The company has a vast item portfolio and its significant products consist of books, periodicals, online media, exhibits, research reports and so on. Marketing Plan Focus Glasses Case Study Help has actually become a specialized information provider and a big extensive Science and Innovation publishing business through the integration of print media, audio-visual media and the network media.
Important Issues
CMP has spent its 60 years journey efficiently, being a successful publishing home, however, the changing macro market trends and forces bring certain challenges to the publishing market in basic and Marketing Plan Focus Glasses Case Study Analysis in particular. These factors include;
• Entryway of the brand-new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Enhancement of science and technology.
The improvement of the macro markets have raised numerous concerns to the management at CPM that what could be the future of CMP in this scenario? Do the long important experience, technical resources and the capabilities of the company could be utilized to pursue the future development unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Marketing Plan Focus Glasses Case Study Analysis has certain strengths that can be used to reduce the hazards, overcome the weak point and obtain the chances. Strengths of CMP are provided as follows;
• The long term experience of Marketing Plan Focus Glasses Case Study Help in the publishing market i.e. 60 years permits the company to supply high quality products at a lower cost using its prior experiences.
• The technical resources and abilities produced by its successful journey offer a competitive benefit to CMP.
• Vast item portfolioof CMP helps it to diversify its danger and offer high worth to its consumers.
• Strong monetary position enables the company to consider numerous development opportunities without any worry of raising fund externally.
Weaknesses
In addition to the strengths, the business has particular weaknesses which might increase constraints for the business in implementing its advancement program. The weaknesses of Marketing Plan Focus Glasses Case Study Help are provided as follows;
• Despite of being a science and technology publishing company, the company still has standard methods ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It should propose certain expansion strategies to prevent its dependence over the Chinese markets to accomplish long term growth.
Opportunities
Although, the development of the publishing market is decreasing because 2008, affecting Marketing Plan Focus Glasses Case Study Solution also, however the development could be revived by availing particular opportunities provided in the market. The market chances for CMP consist of;
• The business might likewise introduce Digital Publishing by utilizing 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 minimize its reliance over Chinese markets by using its large funds.
Threats
The altering macro patterns in the market and increasing competitors in the publishing market has actually posed certain risks to Marketing Plan Focus Glasses Case Study Solution including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries might result in decreasing market share of Marketing Plan Focus Glasses Case Study Help due to the consumer shift towards virtual libraries.
• The presence of large number of rivals in the publishing industry increase the danger for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by utilizing certain strategies like aggressive promotion, quality products, and so on
• Entrance of new publishing firms in the market along with existence of high competitors increases the danger of losing the customer base.
Financial Analysis.
The business has a rather competitive monetary efficiency. Due to absence of information, the financial ratios of CMP might not be computed. The total monetary performance of the company might be analyzed by using the graphs offered in the case Appendices. It could be evaluated from the Appendix III that the annual total earnings of CMP throughout the duration 2000-2012 are growing at a high development rate, revealing that the yearly demand of the products of Marketing Plan Focus Glasses Case Study Help is growing and the business is rather efficient in attracting a large number of customers at a possible rate.
In addition to it, the 2nd graph which shows the yearly growth in the Marketing Plan Focus Glasses Case Study Solution total possessions, reveals that the company is rather effective in including worth to its possessions through its earnings. The growth in properties shows that the total value of the firm is likewise increasing with increasing the overall incomes. (Unidentified, 2013).
Another financial analysis of the business utilizing the provided information could be the analysis regarding the circulation of overall revenues of the business. Major part of the incomes of CMP comes from the sales of its released books i.e. 64% as shown in the Case Appendix V. The business might move towards other organisation sectors with a possible growth to accomplish its future advancement objective.
PESTEL Analysis
PESTEL analysis might be carried out to find out the various external forces affecting the performance of the business and the recent patterns in the external environment of the company. A brief PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial impact on the state of mind of individuals about the communist ideology of the federal government, for that reason, the publishing sector is highly monitored and directed by the Publicity Department of the Communist Celebration of China. Therefore, it might be stated that the general political forces affecting Marketing Plan Focus Glasses Case Study Analysis organisation are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Cost-effective.
Economic forces impacting the publishing sector in basic and the CMP in particular includesthe rates of paper, the income level of consumers, the inflation rate, and the overall GDP growth of the nation. All these forces combine impact the need for the publishing market.
Social and Demographical.
The consumer choices are moving towards digital publishing rather than the conventional was of publishing. In this regard, CMP must focus on digital publishing to fulfill the changing consumer preferences.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading techniques and so on. Improvement of science and technology together with the rise of digital publishing could decrease the demand for the CMP items, if certain actions would not be taken quickly.
Environmental.
Ecological forces affecting Marketing Plan Focus Glasses Case Study Analysis includes the concerns of ecological neighborhoods over the usage 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 should not be hazardous 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 Ordinance 1997 requires the publishers to be authorized initially by the Government to be gone into in the publishing market. The regulation prohibits direct participation of foreign entities and people in the publishing sector.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Model might be utilized to examine the beauty of the publishing industry China. A brief analysis of the Porter's 5 Forces is given as follows;.
Danger of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Market is moderate. The prospective development in the industry tends to draw in brand-new entrants to the publishing market. Nevertheless, the existence of extreme competition and the requirement of substantial capital tends to demotivate brand-new entrants to enter in the market.
Risk of Replacement.
Threat of Replacement is high for the Chinese Publishing Market. The alternative items for the released files is the files presented in the virtual libraries on certain websites. The altering customer preferences towards digital learning increase the hazard of alternative for the industry.
Competitive Competition.
Competitive competition in the publishing market is high. The presence of large number of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. Together with it, new entrants are likewise entering into the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The major suppliers of the Marketing Plan Focus Glasses Case Study Solution consist of the providers of the paper for releasing documents. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the general bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Negotiating 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 purchasers needs high quality documents at competitive prices.
Competitors Analysis.
CMP operates in a highly competitive market with the presence of large number of competitors. Nevertheless, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major competitors of Marketing Plan Focus Glasses Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a threat for CMP as it might 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 existing market situation.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also founded in the exact same duration as CMP and CIP. It ranks 6th in the state-owned publishers in regards to organisation scale. It is likewise one of the popular players in the publishing market with a yearly overall revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Minimizing reliance over the Chinese markets.
• Increasing variety of Consumers
• Development opportunities.
• Preventing the impact of market saturation in the Chinese publishing industry.
Cons
• Usage of possible resources in growth.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing current capabilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio offers high worth to clients.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core service sections to the new one can lead the company to lose demand of its products in the market.
Recommendations
With the deep analysis of the internal and external environment of the business together with the industry analysis and the rival analysis, Alternative 2 is suggested to CMP to attain its future advancement. As the choices are shifting towards digital publishing and the business require an instant solution to avoid the declining industry growth. Therefore, introduction of digital publishing could prove to be an instant service with low amount of risk for the company. The company might likewise consider the expansion program after the success of its digital publishing program.
Application
In order to present digital publishing in its product portfolio, the company should initially gathers the data connected to the customer need, the prospective markets, the federal government guidelines and the data connected to the rivals presented in the market. After that, the business should choose one possible section for its preliminary offering. It must collect research that how it could differentiate its digital publishing from the existing rivals' items. After all the steps above the company need to opt for the initial offering. The company must go for the other markets if the initial offering shows a success. In this method the company would be able to implement its digital publishing program.
Conclusion
Although, the development of the publishing industry is declining considering that 2008, showing a danger to the company's long term presence, but the situation can be managed by considering an advancement strategy in the future. The company could consider introducing digital publishingin its existing market to execute its development program at instant basis and to avoid the threat of failure for entrance in the new markets.
