Nouveau Event Planning The Wedding Extravaganza Case Study Solution and Analysis
Introduction
Nouveau Event Planning The Wedding Extravaganza Case Study Solution is the largest publishing company with a greatest market share in the China's book retail market. CMP provides a number of services consisting of; collecting information, processing information and interaction services. Major company sections of the business consist of; books, periodicals, consultancy and circulation. The company has a vast item portfolio and its major items include books, regulars, online media, exhibitions, research study reports etc. Nouveau Event Planning The Wedding Extravaganza Case Study Help has become a specialized information service provider and a big thorough Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
Critical Problems
CMP has actually spent its 60 years journey smoothly, being a successful publishing house, nevertheless, the altering macro market patterns and forces bring particular difficulties to the publishing market in basic and Nouveau Event Planning The Wedding Extravaganza Case Study Solution in particular. These elements consist of;
• Entryway of the new publishing firms in the industry.
• Decreasing development of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• 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 important experience, technical resources and the abilities of the company could be made use of to pursue the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Nouveau Event Planning The Wedding Extravaganza Case Study Help has certain strengths that can be utilized to decrease the threats, overcome the weak point and obtain the opportunities. Strengths of CMP are given as follows;
• The long term experience of Nouveau Event Planning The Wedding Extravaganza Case Study Analysis in the publishing industry i.e. 60 years allows the business to provide high quality products at a lower expense using its previous experiences.
• The technical resources and capabilities produced by its effective journey provide a competitive benefit to CMP.
• Vast product portfolioof CMP assists it to diversify its risk and supply high worth to its consumers.
• Strong financial position allows the company to consider numerous advancement opportunities without any worry of raising fund externally.
Weaknesses
Along with the strengths, the business has specific weaknesses which might increase restraints for the business in executing its advancement program. The weak points of Nouveau Event Planning The Wedding Extravaganza Case Study Analysis are offered as follows;
• Despite of being a science and innovation publishing firm, the company still has traditional methods ofpublishing which are not suitable with the growing technological shift.
• CMP highly relies over the Chinese markets for its development. It should propose specific growth strategies to prevent its reliance over the Chinese markets to accomplish long term growth.
Opportunities
Although, the development of the publishing industry is declining because 2008, impacting Nouveau Event Planning The Wedding Extravaganza Case Study Solution too, but the development might be revived by availing certain opportunities provided in the market. The market opportunities for CMP include;
• The company might also introduce Digital Publishing by using its long term technical experience and a strong consumer recognition in the market.
• CMP could think about an advancement program through the growth towards foreign markets in order to reduce its dependence over Chinese markets by using its huge funds.
Threats
The altering macro trends in the market and increasing competition in the publishing market has postured certain risks to Nouveau Event Planning The Wedding Extravaganza Case Study Solution including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could result in declining market share of Nouveau Event Planning The Wedding Extravaganza Case Study Help due to the consumer shift towards virtual libraries.
• The presence of a great deal of competitors in the publishing market increase the risk for CMP to lose its competitive position in the market, as competitors can acquire a strong consumer base by utilizing specific techniques like aggressive promo, quality items, and so on
• Entryway of brand-new publishing firms in the market together with existence of high competition increases the danger of losing the customer base.
Financial Analysis.
The company has a rather competitive monetary performance. Due to absence of data, the financial ratios of CMP could not be computed. The total financial efficiency of the company could be evaluated by using the charts offered in the case Appendices. It could be analyzed from the Appendix III that the yearly total revenues of CMP throughout the period 2000-2012 are growing at a high development rate, revealing that the annual demand of the products of Nouveau Event Planning The Wedding Extravaganza Case Study Help is growing and the company is rather effective in bring in a large number of clients at a prospective rate.
In addition to it, the 2nd chart which reveals the annual development in the Nouveau Event Planning The Wedding Extravaganza Case Study Analysis total possessions, shows that the business is quite efficient in including value to its possessions through its profits. The development in properties shows that the overall worth of the firm is also increasing with increasing the overall earnings. (Unknown, 2013).
Another monetary analysis of the company utilizing the offered data could be the analysis regarding the circulation of overall incomes of the business. Major part of the incomes 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 company sectors with a possible development to attain its future development goal.
PESTEL Analysis
PESTEL analysis might be performed to learn the various external forces impacting the performance of the business and the current patterns in the external environment of the company. A short PESTEL analysis of the company is given as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant influence on the mindset of the people about the communist ideology of the federal government, therefore, the publishing sector is highly supervised and guided by the Promotion Department of the Communist Party of China. It could be stated that the overall political forces affecting CMP organisation are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Affordable.
Economic forces affecting the publishing sector in general and the Nouveau Event Planning The Wedding Extravaganza Case Study Solution in specific includesthe rates of paper, the income level of consumers, the inflation rate, and the overall GDP development of the country. All these forces integrate impact the need for the publishing market. Along with it, the financial policies related to the import of books impact the overall service at CPM. However, China's financial conditions are rather favorable for CMP with high GDP growth and customer earnings level.
Social and Demographical.
Social and demographical forces consist of the population development, the consumer's preferences towards checking out informative materials and so on. China has the greatest population in the world with a high population development, showing the increasing number of consumers of the Nouveau Event Planning The Wedding Extravaganza Case Study Help. The consumer preferences are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP needs to focus on digital publishing to meet the altering customer preferences.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading methods and so on. Enhancement of science and innovation together with the increase of digital publishing could lower the need for the CMP products, if particular actions would not be taken soon.
Environmental.
Ecological forces affecting Nouveau Event Planning The Wedding Extravaganza Case Study Solution includes the concerns of environmental communities 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 regulations for the publishing sector at whole are high. The legal regulations regarding the publishing sector is controlled by the General Administration of Press and Publication. Publishing Ordinance 1997 requires the publishers to be authorized first by the 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 Design).
Porter's Five Forces Model could be used to analyze the appearance of the publishing industry China. A quick analysis of the Porter's 5 Forces is provided as follows;.
Threat of New Entrants.
Hazards of new entrants in the Chinese Publishing Market is moderate. The potential development in the industry tends to draw in brand-new entrants to the publishing market. Nevertheless, the existence of intense competition and the requirement of substantial capital tends to demotivate brand-new entrants to enter in the market.
Danger of Alternative.
Danger of Substitution is high for the Chinese Publishing Market. The alternative products for the published documents is the documents provided in the digital libraries on specific websites. The altering customer choices towards digital learning increase the risk of substitution for the industry.
Competitive Competition.
Competitive rivalry 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 rivalry for CMP. Along with it, new entrants are also entering into the marketplace increasing the competitors for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Nouveau Event Planning The Wedding Extravaganza Case Study Solution consist of the suppliers of the paper for publishing files. As CMP is the biggest 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 existence of a a great deal of publishers in the Chinese market and the market saturation, the buyers requires high quality files at competitive prices.
Competitors Analysis.
CMP runs in an extremely competitive market with the presence of large number of competitors. The business has a competitive position in the market with the highest market share in the Chinese publishing market. Major rivals of Nouveau Event Planning The Wedding Extravaganza Case Study Solution include;.
• 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 quickly in the present market circumstance.
Posts and telecommunication Press (PTP).
Another close competitor of CMP is PTP. It was also founded in the very same duration as CMP and CIP. It ranks sixth in the state-owned publishers in terms of organisation scale. It is also one of the popular gamers in the publishing market with an annual overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing number of Customers
• Development chances.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Use of prospective resources in growth.
• Danger of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce using present capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio provides high worth to clients.
Cons
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core business segments to the brand-new one can lead the company to lose need of its items in the market.
Suggestions
As the choices are shifting towards digital publishing and the company require an instant solution to prevent the declining market development. The company might also consider the growth program after the success of its digital publishing program.
Implementation
In order to present digital publishing in its item portfolio, the company should initially collects the information related to the customer demand, the prospective markets, the federal government guidelines and the information related to the rivals presented in the market. If the preliminary offering shows a success, the company must go for the other markets. In this method the company would be able to implement its digital publishing program.
Conclusion
The growth of the publishing industry is declining considering that 2008, showing a danger to the business's long term existence, but the scenario can be managed by considering an advancement strategy in the future. The business could think about presenting digital publishingin its existing market to implement its development program at instant basis and to avoid the danger of failure for entryway in the brand-new markets.
