Quantitative Research Methods Assignment 2 Case Study Solution and Analysis
Quantitative Research Methods Assignment 2 Case Study Solution is the largest publishing business with a highest market share in the China's book retail market. CMP has actually become a specialized information provider and a big extensive Science and Technology publishing company through the combination of print media, audio-visual media and the network media.
CMP has actually invested its 60 years journey efficiently, being a successful publishing home, nevertheless, the changing macro market patterns and forces bring certain difficulties to the publishing market in basic and Quantitative Research Methods Assignment 2 Case Study Help in specific. These elements consist of;
• Entrance of the brand-new publishing companies in the industry.
• Declining 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 numerous concerns 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 business could be used to strive for the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Quantitative Research Methods Assignment 2 Case Study Solution has specific strengths that can be utilized to minimize the threats, get rid of the weak point and avail the chances. Strengths of CMP are provided as follows;
• The long term experience of Quantitative Research Methods Assignment 2 Case Study Analysis in the publishing industry i.e. 60 years enables the business to provide high quality items at a lower cost using its previous experiences.
• The technical resources and capabilities produced by its effective journey supply a competitive benefit to CMP.
• Large product portfolioof CMP helps it to diversify its risk and provide high worth to its customers.
• Strong monetary position permits the company to consider several advancement chances without any fear of raising fund externally.
Together with the strengths, the company has particular weaknesses which might increase restrictions for the company in implementing its development program. The weaknesses of Quantitative Research Methods Assignment 2 Case Study Solution are given as follows;
• Despite of being a science and innovation publishing company, the business still has traditional ways ofpublishing which are not suitable with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It must propose certain expansion strategies to prevent its reliance over the Chinese markets to accomplish long term growth.
Although, the growth of the publishing industry is declining given that 2008, affecting Quantitative Research Methods Assignment 2 Case Study Analysis too, however the growth could be revived by availing certain opportunities provided in the market. The marketplace chances for CMP consist of;
• The company could likewise present Digital Publishing by utilizing 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 decrease its dependence over Chinese markets by utilizing its vast financial resources.
The altering macro trends in the market and increasing competitors in the publishing industry has actually presented specific risks to Quantitative Research Methods Assignment 2 Case Study Analysis consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. digital libraries could result in declining market share of Quantitative Research Methods Assignment 2 Case Study Help due to the consumer shift towards digital libraries.
• The presence of large number of rivals in the publishing market increase the hazard for CMP to lose its competitive position in the market, as rivals can get a strong consumer base by using particular strategies like aggressive promotion, quality items, and so on
• Entryway of brand-new publishing firms in the market along with existence of high competition increases the threat of losing the client base.
The company has a rather competitive financial performance. Due to lack of data, the financial ratios of CMP might not be determined. The general monetary performance of the business might be evaluated by utilizing the charts provided in the case Appendices. It might be analyzed from the Appendix III that the yearly overall revenues of CMP during the duration 2000-2012 are growing at a high development rate, showing that the annual demand of the products of Quantitative Research Methods Assignment 2 Case Study Analysis is growing and the business is rather effective in attracting a a great deal of consumers at a possible rate.
Together with it, the second chart which shows the annual growth in the Quantitative Research Methods Assignment 2 Case Study Help total possessions, reveals that the business is quite effective in adding worth to its possessions through its earnings. The growth in assets reveals that the total worth of the firm is likewise increasing with increasing the overall incomes. (Unidentified, 2013).
Another financial analysis of the business utilizing the given information could be the analysis regarding the circulation of total earnings of the business. Huge part of the profits of CMP originates from the sales of its published books i.e. 64% as shown in the Case Appendix V. The company could move towards other service segments with a potential development to achieve its future development objective.
PESTEL analysis could be conducted to learn the numerous external forces impacting the performance of the business and the recent patterns in the external environment of the company. A quick PESTEL analysis of the business is given as follows; (Alanzi, 2018).
As the publishing sector might have a significant impact on the frame of mind of individuals about the communist ideology of the government, therefore, the publishing sector is extremely monitored and guided by the Publicity Department of the Communist Party of China. For that reason, it might be stated that the total political forces affecting Quantitative Research Methods Assignment 2 Case Study Analysis company are high. The federal government policies concerning the publishing sector are likewise increasing with the passage of time.
Financial forces impacting the publishing sector in general and the Quantitative Research Methods Assignment 2 Case Study Help in particular includesthe rates of paper, the earnings level of consumers, the inflation rate, and the general GDP growth of the nation. All these forces integrate effect the demand for the publishing market. Together with it, the economic policies associated with the import of books impact the overall company at CPM. 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 growth, the consumer's choices towards checking out helpful materials etc. China has the greatest population in the world with a high population growth, revealing the increasing number of customers of the Quantitative Research Methods Assignment 2 Case Study Solution. However, the customer preferences are shifting towards digital publishing instead of the standard was of publishing. In this regard, CMP must focus on digital publishing to meet the changing customer preferences.
Technological forces impacting the CMP include the technological advancement in the reading techniques and so on. Enhancement of science and technology in addition to the increase of digital publishing could decrease the need for the CMP items, if particular actions would not be taken quickly.
Ecological forces impacting Quantitative Research Methods Assignment 2 Case Study Help consists of the issues of environmental communities over the usage of paper in publishing books. The paper used in the books while publishing is needed to be non reusable and the ink utilized while publishing ought to not be hazardous for the environment.
Legal regulations for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be authorized first by the Federal government to be gone into in the publishing market.
Market Analysis (Porter's 5 Forces Design).
Porter's Five Forces Design could be used to evaluate the attractiveness of the publishing market China. A short analysis of the Porter's Five Forces is given as follows;.
Hazard of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Market is moderate. The possible growth in the market tends to attract new entrants to the publishing industry. Nevertheless, the existence of intense competitors and the requirement of big capital tends to demotivate brand-new entrants to enter in the marketplace.
Hazard of Substitution.
Danger of Substitution is high for the Chinese Publishing Market. The replacement items for the released documents is the documents provided in the digital libraries on certain sites. The changing customer preferences towards digital learning increase the hazard of replacement for the industry.
Competitive rivalry in the publishing market is high. The presence of large number of customers in the Chinese Publishing Industry like CIP, PTP etc. tends to produce high competitive competition for CMP. Together with it, new entrants are likewise participating in the market increasing the competition for CMP.
Bargaining Power of Supplier.
The significant suppliers of the Quantitative Research Methods Assignment 2 Case Study Analysis consist of the providers of the paper for publishing files. As CMP is the largest 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 existence of a a great deal of publishers in the Chinese market and the marketplace saturation, the buyers needs high quality files at competitive costs.
CMP operates in a highly competitive market with the presence of a great deal of rivals. The business has a competitive position in the market with the highest market share in the Chinese publishing market. Major competitors of Quantitative Research Methods Assignment 2 Case Study Analysis include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis among the close rivals of CMP. Established in the exact same duration, CIP releases comparable kind of books. For a big period, CIP held the biggest market share, and still ranks 3rd and 2nd in numerous market sectors, with a significant focus on educational publications. CIP serves as a risk 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 marketplace share of Quantitative Research Methods Assignment 2 Case Study Analysis easily in the current market circumstance.
Posts and telecommunication Press (PTP).
It was also established in the very same period as Quantitative Research Methods Assignment 2 Case Study Analysis and CIP. It is likewise one of the prominent players in the publishing market with a yearly overall earnings of RMB 550 million in 2010.
Alternative-1: Broaden towards New Markets
• Lowering dependence over the Chinese markets.
• Increasing variety of Clients
• Growth opportunities.
• Avoiding the impact of market saturation in the Chinese publishing industry.
• Usage of possible resources in expansion.
• Danger of failure in new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce utilizing existing capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio provides high worth to consumers.
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core company segments to the brand-new one can lead the business to lose need of its items in the market.
With the deep analysis of the external and internal environment of the business along with the market analysis and the competitor analysis, Alternative 2 is suggested to CMP to achieve its future development. As the preferences are moving towards digital publishing and the business require an instant solution to prevent the declining market growth. Therefore, intro of digital publishing could show to be an instant service with low quantity of risk for the company. However, the company might likewise think about the growth program after the success of its digital publishing program.
In order to introduce digital publishing in its item portfolio, the business needs to initially gathers the data related to the consumer need, the possible markets, the federal government policies and the data associated with the rivals presented in the market. After that, the business needs to decide one prospective section for its preliminary offering. It ought to collect research that how it could separate its digital publishing from the existing competitors' items. The actions above the company ought to go for the preliminary offering. If the preliminary offering proves a success, the business must go for the other markets. In this method the business would have the ability to implement its digital publishing program.
The growth of the publishing market is declining since 2008, showing a hazard to the business's long term existence, but the circumstance can be controlled by considering an advancement strategy in the future. The business could think about introducing digital publishingin its existing market to implement its advancement program at immediate basis and to prevent the danger of failure for entryway in the brand-new markets.