Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Solution and Analysis
Introduction
Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Analysis is the biggest publishing company with a greatest market share in the China's book retail market. CMP has actually ended up being a specialized info supplier and a large thorough Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
Crucial Concerns
Although, Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Solution has spent its 60 years journey efficiently, being a successful publishing home, nevertheless, the changing macro market trends and forces bring certain difficulties to the publishing market in general and CMP in particular. These factors include;
• Entryway of the new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Enhancement of science and technology.
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 situation? Do the long valuable experience, technical resources and the capabilities of the company could be used to strive for the future development unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Analysis has specific strengths that can be utilized to decrease the hazards, get rid of the weak point and obtain the chances. Strengths of CMP are provided as follows;
• The long term experience of Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Help in the publishing industry i.e. 60 years enables the company to offer high quality products at a lower expense using its previous experiences.
• The technical resources and abilities produced by its effective journey offer a competitive benefit to CMP.
• Huge item portfolioof CMP assists it to diversify its danger and offer high worth to its customers.
• Strong monetary position allows the business to think about a number of development opportunities with no fear of raising fund externally.
Weaknesses
Together with the strengths, the business has particular weak points which could increase restrictions for the company in executing its development program. The weak points of Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Analysis are given as follows;
• Despite of being a science and innovation publishing company, the company still has standard methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its growth. It should propose specific growth strategies to avoid its reliance over the Chinese markets to achieve long term growth.
Opportunities
Although, the development of the publishing market is decreasing given that 2008, impacting Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Solution as well, but the development might be restored by availing certain chances presented in the market. The marketplace chances for CMP consist of;
• The business could also present Digital Publishing by utilizing its long term technical experience and a strong customer acknowledgment in the market.
• CMP could consider a development program through the expansion towards foreign markets in order to decrease its reliance over Chinese markets by utilizing its large funds.
Dangers
The altering macro patterns in the market and increasing competitors in the publishing market has actually posed specific dangers to Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Analysis consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries might result in decreasing market share of Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Solution due to the customer shift towards digital libraries.
• The existence of a great deal of competitors in the publishing industry increase the risk for CMP to lose its competitive position in the market, as rivals can gain a strong consumer base by using certain techniques like aggressive promo, quality products, and so on
• Entryway of brand-new publishing firms in the industry in addition to presence of high competition increases the threat of losing the client base.
Financial Analysis.
The business has a quite competitive financial performance. Due to lack of data, the financial ratios of CMP could not be computed. However, the general financial performance of the business might be examined by using the graphs given in the case Appendices. It might be analyzed from the Appendix III that the yearly total incomes of CMP during the duration 2000-2012 are growing at a high growth rate, revealing that the yearly need of the items of Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Analysis is growing and the company is rather effective in bring in a large number of customers at a potential price.
Together with it, the 2nd graph which reveals the annual development in the Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Help overall properties, reveals that the business is quite effective in including value to its properties through its profits. The development in properties reveals that the overall worth of the firm is also increasing with increasing the total profits. (Unidentified, 2013).
Another monetary analysis of the company using the provided data could be the analysis relating to the circulation of overall revenues of the business. Major part of the earnings of CMP comes from the sales of its published books i.e. 64% as shown in the Case Appendix V. The business could move towards other business segments with a potential development to attain its future development objective.
PESTEL Analysis
PESTEL analysis might be carried out to learn the different external forces affecting the performance of the company and the current patterns in the external environment of the company. A short PESTEL analysis of the business is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial impact on the mindset of individuals about the communist ideology of the federal government, for that reason, the publishing sector is highly supervised and assisted by the Publicity Department of the Communist Party of China. Therefore, it could be said that the overall political forces impacting Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Solution business are high. The federal government policies regarding the publishing sector are also increasing with the passage of time.
Affordable.
Financial forces affecting the publishing sector in basic and the Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Analysis in particular includesthe rates of paper, the earnings level of consumers, the inflation rate, and the overall GDP growth of the nation. All these forces integrate effect the need for the publishing market. Together with it, the financial policies associated with the import of books impact the general company at CPM. China's financial conditions are quite favorable for CMP with high GDP growth and customer earnings level.
Social and Demographical.
Social and demographical forces include the population growth, the customer's choices towards reading helpful products and so on. China has the highest population worldwide with a high population growth, revealing the increasing number of customers of the Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Help. The customer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP should focus on digital publishing to meet the changing consumer preferences.
Technological.
Technological forces affecting the CMP include the technological development in the reading methods etc. Enhancement of science and innovation together with the rise of digital publishing could decrease the demand for the CMP items, if certain actions would not be taken soon.
Environmental.
Environmental forces impacting Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Help includes the concerns of ecological neighborhoods over the use of paper in publishing books. The paper utilized in the books while publishing is needed to be non reusable and the ink utilized while publishing ought to not be damaging for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. The legal guidelines regarding 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 regulation forbids direct participation of foreign entities and individuals in the publishing sector.
Market Analysis (Porter's 5 Forces Model).
Porter's Five Forces Design could be used to examine the appearance of the publishing market China. A quick analysis of the Porter's 5 Forces is provided as follows;.
Hazard of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Industry is moderate. The potential development in the market tends to attract new entrants to the publishing industry. Nevertheless, the existence of intense competition and the requirement of big capital tends to demotivate new entrants to enter in the marketplace.
Hazard of Substitution.
Hazard of Replacement is high for the Chinese Publishing Industry. The alternative items for the published documents is the files provided in the digital libraries on certain websites. The changing consumer choices towards digital learning increase the danger of substitution for the industry.
Competitive Rivalry.
Competitive competition in the publishing market is high. The existence of large number of consumers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. Along with it, new entrants are also participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant providers of the Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Help include the providers of the paper for releasing files. As CMP is the largest publisher in the Chinese Publishing Market, for that reason the overall bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Haggling power of purchaser in the publishing industry is high. Due to the presence of a large number of publishers in the Chinese market and the market saturation, the purchasers needs high quality documents at competitive rates.
Competitors Analysis.
CMP runs 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 highest market share in the Chinese publishing market. Significant competitors of Meteor Solutions Measuring The Value Of Social Media Marketing Case Study Solution consist of;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a threat 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 existing market situation.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was also founded in the same period as CMP and CIP. It ranks sixth in the state-owned publishers in terms of service scale. It is also among the prominent players in the publishing market with a yearly overall profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Lowering dependence over the Chinese markets.
• Increasing variety of Consumers
• Development chances.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of prospective resources in growth.
• Risk of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to present utilizing present abilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio supplies high value to customers.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core service sectors to the new one can lead the business to lose demand of its products in the market.
Recommendations
With the deep analysis of the internal and external environment of the company along with the market analysis and the rival analysis, Alternative 2 is suggested to CMP to attain its future advancement. As the choices are moving towards digital publishing and the company require an instant option to prevent the declining market growth. Introduction of digital publishing could prove to be an instant service with low amount of danger for the company. The business could likewise 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 needs to first collects the information related to the consumer demand, the possible markets, the government regulations and the data connected to the competitors presented in the market. After that, the company must decide one prospective segment for its initial offering. It must collect research study that how it could differentiate its digital publishing from the existing rivals' products. After all the actions above the business ought to go for the initial offering. If the initial offering shows a success, the business ought to choose the other markets. In this way the business would be able to implement its digital publishing program.
Conclusion
The growth of the publishing industry is decreasing considering that 2008, revealing a danger to the business's long term existence, but the scenario can be managed by thinking about an advancement plan in the future. The company might consider presenting digital publishingin its existing market to execute its development program at immediate basis and to prevent the danger of failure for entrance in the brand-new markets.
