Patientslikeme An Online Community Of Patients Case Study Solution and Analysis
Patientslikeme An Online Community Of Patients Case Study Solution is the largest publishing company with a highest market share in the China's book retail market. CMP offers a variety of services including; collecting information, processing info and interaction services. Significant service sectors of the company include; books, regulars, consultancy and circulation. The company has a vast item portfolio and its significant products consist of books, regulars, online media, exhibits, research reports etc. Patientslikeme An Online Community Of Patients Case Study Solution has ended up being a specialized details company and a large detailed Science and Technology publishing business through the integration of print media, audio-visual media and the network media.
Although, Patientslikeme An Online Community Of Patients Case Study Solution has actually spent its 60 years journey smoothly, being an effective publishing house, nevertheless, the altering macro market patterns and forces bring particular challenges to the publishing industry in basic and CMP in specific. These aspects include;
• Entrance of the brand-new publishing companies in the industry.
• Declining growth of the publishing market.
• Market saturation.
• Introduction of digital publishing strategies
• Enhancement of science and technology.
The improvement of the macro markets have raised several questions to the management at CPM that what could be the future of CMP in this scenario? Do the long valuable experience, technical resources and the capabilities of the company could be utilized to strive for the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Patientslikeme An Online Community Of Patients Case Study Analysis has specific strengths that can be utilized to lower the dangers, conquer the weakness and avail the chances. Strengths of CMP are provided as follows;
• The long term experience of Patientslikeme An Online Community Of Patients Case Study Analysis in the publishing industry i.e. 60 years permits the company to offer high quality items at a lower expense using its previous experiences.
• The technical resources and capabilities created by its effective journey provide a competitive advantage to CMP.
• Huge item portfolioof CMP helps it to diversify its threat and supply high value to its clients.
• Strong monetary position allows the company to consider numerous development chances without any worry of raising fund externally.
In addition to the strengths, the business has particular weaknesses which could increase restrictions for the company in executing its advancement program. The weaknesses of Patientslikeme An Online Community Of Patients Case Study Help are provided as follows;
• Despite of being a science and innovation publishing company, the company still has conventional 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 specific expansion strategies to prevent its dependence over the Chinese markets to achieve long term development.
Although, the development of the publishing market is declining given that 2008, affecting Patientslikeme An Online Community Of Patients Case Study Solution also, however the growth might be revived by availing certain chances presented in the market. The market opportunities for CMP consist of;
• The business could also introduce Digital Publishing by using its long term technical experience and a strong client recognition in the market.
• CMP could think about an advancement program through the growth towards foreign markets in order to minimize its dependence over Chinese markets by utilizing its vast financial resources.
The altering macro patterns in the market and increasing competition in the publishing industry has posed specific hazards to Patientslikeme An Online Community Of Patients Case Study Analysis consisting of;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries could lead to decreasing market share of Patientslikeme An Online Community Of Patients Case Study Help due to the consumer shift towards digital libraries.
• The presence of large number of competitors in the publishing market increase the threat for CMP to lose its competitive position in the market, as competitors can gain a strong consumer base by utilizing particular methods like aggressive promo, quality items, etc.
• Entrance of new publishing companies in the industry along with existence of high competition increases the danger of losing the customer base.
The company has a quite competitive monetary efficiency. Due to lack of information, the monetary ratios of CMP might not be computed. However, the general financial performance of the business could be examined by using the graphs given up the case Appendices. It could be evaluated from the Appendix III that the annual total profits of CMP throughout the duration 2000-2012 are growing at a high development rate, showing that the annual need of the items of Patientslikeme An Online Community Of Patients Case Study Help is growing and the company is rather effective in bring in a large number of customers at a prospective rate.
Along with it, the 2nd graph which shows the yearly development in the Patientslikeme An Online Community Of Patients Case Study Help overall possessions, shows that the company is quite effective in including value to its assets through its incomes. The development in properties reveals that the total worth of the firm is also increasing with increasing the overall profits. (Unidentified, 2013).
Another financial analysis of the business using the given data might be the analysis concerning the circulation of total revenues of the business. Major part of the incomes of CMP originates from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business might move towards other company sections with a potential development to accomplish its future advancement goal.
PESTEL analysis might be carried out to find out the numerous external forces affecting the efficiency of the business and the current trends in the external environment of the business. A brief PESTEL analysis of the company is provided as follows; (Alanzi, 2018).
As the publishing sector might have a considerable effect on the mindset of the people about the communist ideology of the government, therefore, the publishing sector is highly monitored and guided by the Promotion Department of the Communist Party of China. For that reason, it could be said that the general political forces affecting Patientslikeme An Online Community Of Patients Case Study Solution organisation are high. The federal government policies relating to the publishing sector are likewise increasing with the passage of time.
Economic forces affecting the publishing sector in general and the Patientslikeme An Online Community Of Patients Case Study Solution in specific includesthe prices of paper, the income level of customers, the inflation rate, and the general GDP growth of the nation. All these forces combine effect the demand for the publishing market. In addition to it, the economic policies connected to the import of books impact the total company at CPM. Nevertheless, China's financial conditions are rather favorable for CMP with high GDP growth and consumer earnings level.
Social and Demographical.
Social and demographical forces include the population growth, the consumer's choices towards checking out informative materials etc. China has the greatest population in the world with a high population growth, showing the increasing variety of customers of the Patientslikeme An Online Community Of Patients Case Study Solution. Nevertheless, the consumer choices are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP should concentrate on digital publishing to meet the changing customer preferences.
Technological forces affecting the CMP consist of the technological development in the reading strategies and so on. Enhancement of science and technology in addition to the rise of digital publishing could reduce the demand for the CMP items, if particular actions would not be taken soon.
Environmental forces affecting Patientslikeme An Online Community Of Patients Case Study Analysis includes the concerns of ecological communities over the usage of paper in publishing books. The paper used in the books while publishing is required to be disposable and the ink utilized while publishing ought to not be hazardous for the environment.
Legal policies for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be authorized initially by the Federal government to be gone into in the publishing market.
Industry Analysis (Porter's Five Forces Design).
Porter's 5 Forces Design could be used to analyze the beauty of the publishing market China. A short analysis of the Porter's Five Forces is given as follows;.
Threat of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Market is moderate. The possible growth in the industry tends to draw in brand-new entrants to the publishing industry. However, the existence of extreme competitors and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Hazard of Alternative.
Hazard of Alternative is high for the Chinese Publishing Industry. The replacement products for the published files is the documents presented in the digital libraries on particular websites. The changing customer choices towards digital learning increase the danger of substitution for the industry.
Competitive rivalry in the publishing industry is high. The existence of large number of consumers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive competition for CMP. Along with it, new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Supplier.
The major suppliers of the Patientslikeme An Online Community Of Patients Case Study Solution consist of the suppliers of the paper for publishing documents. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the overall bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Negotiating 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 marketplace saturation, the buyers requires high quality documents at competitive costs.
CMP runs in a highly competitive market with the existence of large number of rivals. The company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of Patientslikeme An Online Community Of Patients Case Study Help include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close rivals of CMP. Established in the exact same duration, CIP publishes similar kind of books. For a large time period, CIP held the largest market share, and still ranks 3rd and second in numerous market segments, with a significant focus on educational publications. CIP acts as a risk for CMP as it might wean its market share due to its long term competitive background. CIP is focused on digital publishing and could wean the market share of Patientslikeme An Online Community Of Patients Case Study Analysis easily in the current market scenario.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was likewise established in the same duration as CMP and CIP. It ranks sixth in the state-owned publishers in regards to service scale. It is likewise one of the prominent players in the publishing industry with a yearly overall profits of RMB 550 million in 2010.
Alternative-1: Broaden towards New Markets
• Reducing dependence over the Chinese markets.
• Increasing number of Consumers
• Growth opportunities.
• Preventing the effect of market saturation in the Chinese publishing industry.
• Usage of possible resources in growth.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
• Sustaining customer base.
• Approaching new markets.
• Easy to introduce utilizing current abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased item portfolio supplies high worth to customers.
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core company sections to the new one can lead the company to lose need of its items in the market.
As the preferences are moving towards digital publishing and the business need an instant option to prevent the decreasing industry growth. The business might also consider the growth program after the success of its digital publishing program.
In order to present digital publishing in its item portfolio, the company must first collects the information related to the customer demand, the possible markets, the federal government policies and the data related to the competitors presented in the market. If the initial offering proves a success, the company should go for the other markets. In this method the business would be able to execute its digital publishing program.
The development of the publishing industry is decreasing since 2008, revealing a threat to the company's long term presence, however the circumstance can be controlled by considering a development strategy in the future. The business could consider presenting digital publishingin its existing market to implement its advancement program at immediate basis and to prevent the threat of failure for entrance in the brand-new markets.