Quantitative Research Methods Assignment 2 Case Study Solution and Analysis
Introduction
Quantitative Research Methods Assignment 2 Case Study Help is the biggest publishing business with a greatest market share in the China's book retail market. CMP has become a specialized details supplier and a big thorough Science and Innovation publishing company through the combination of print media, audio-visual media and the network media.
Crucial Problems
CMP has actually spent its 60 years journey smoothly, being an effective publishing home, however, the changing macro market patterns and forces bring certain obstacles to the publishing market in general and Quantitative Research Methods Assignment 2 Case Study Help in specific. These elements include;
• Entryway of the brand-new publishing firms in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing techniques
• Improvement of science and innovation.
The improvement of the macro markets have raised a number of concerns to the management at CPM that what could be the future of CMP in this circumstance? Do the long valuable experience, technical resources and the abilities of the company could be utilized to pursue the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Quantitative Research Methods Assignment 2 Case Study Analysis has particular strengths that can be made use of to decrease the risks, conquer the weakness and get the opportunities. Strengths of CMP are offered as follows;
• The long term experience of Quantitative Research Methods Assignment 2 Case Study Help in the publishing industry i.e. 60 years permits the business to provide high quality items at a lower cost using its prior experiences.
• The technical resources and capabilities produced by its successful journey provide a competitive benefit to CMP.
• Huge item portfolioof CMP helps it to diversify its threat and offer high worth to its consumers.
• Strong monetary position allows the company to think about a number of development opportunities with no worry of raising fund externally.
Weak points
In addition to the strengths, the business has certain weak points which could increase restraints for the business in executing its advancement program. The weak points of Quantitative Research Methods Assignment 2 Case Study Analysis are offered as follows;
• Despite of being a science and innovation 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 growth. It needs to propose particular growth plans to avoid its dependence over the Chinese markets to accomplish long term development.
Opportunities
Although, the growth of the publishing industry is decreasing since 2008, affecting Quantitative Research Methods Assignment 2 Case Study Analysis as well, however the development might be restored by availing particular opportunities presented in the market. The market opportunities for CMP include;
• The business might also introduce Digital Publishing by using its long term technical experience and a strong consumer recognition in the market.
• CMP might think about a development program through the expansion towards foreign markets in order to minimize its dependence over Chinese markets by utilizing its huge financial resources.
Threats
The changing macro patterns in the market and increasing competitors in the publishing market has actually presented certain hazards to Quantitative Research Methods Assignment 2 Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could cause decreasing market share of Quantitative Research Methods Assignment 2 Case Study Help due to the consumer shift towards digital libraries.
• The existence of a great deal of rivals in the publishing market increase the hazard for CMP to lose its competitive position in the market, as rivals can acquire a strong consumer base by using specific methods like aggressive promotion, quality products, etc.
• Entryway of brand-new publishing firms in the industry together with presence of high competitors increases the threat of losing the consumer base.
Monetary Analysis.
Due to lack of information, the monetary ratios of CMP might not be computed. It could be analyzed from the Appendix III that the annual total incomes of Quantitative Research Methods Assignment 2 Case Study Analysis during the duration 2000-2012 are growing at a high development rate, showing that the yearly need of the items of CMP is growing and the company is quite effective in attracting a large number of customers at a potential price.
Along with it, the 2nd chart which shows the yearly development in the Quantitative Research Methods Assignment 2 Case Study Solution overall properties, reveals that the business is rather effective in including value to its possessions through its revenues. The growth in possessions reveals that the overall value of the company is likewise increasing with increasing the overall revenues. (Unknown, 2013).
Another monetary analysis of the business using the given data could be the analysis regarding the distribution of total revenues of the company. Huge part of the revenues of CMP originates from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The business might move towards other service sectors with a prospective growth to attain its future development objective.
PESTEL Analysis
PESTEL analysis could be performed to find out the different external forces impacting the efficiency of the company and the recent trends in the external environment of the business. A quick PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a substantial impact on the state 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 Celebration of China. It might be stated that the general political forces impacting CMP organisation are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Cost-effective.
Financial forces impacting the publishing sector in general and the Quantitative Research Methods Assignment 2 Case Study Help in specific includesthe prices of paper, the earnings level of consumers, the inflation rate, and the overall GDP growth of the nation. All these forces combine impact the demand for the publishing market. Together with it, the economic policies associated with the import of books affect the total service at CPM. Nevertheless, China's economic conditions are rather beneficial for CMP with high GDP growth and customer earnings level.
Social and Demographical.
The consumer preferences are moving towards digital publishing rather than the standard was of publishing. In this regard, CMP should focus on digital publishing to fulfill the altering customer preferences.
Technological.
Technological forces impacting the CMP consist of the technological improvement in the reading techniques and so on. Improvement of science and innovation together with the rise of digital publishing could minimize the demand for the CMP products, if particular actions would not be taken quickly.
Environmental.
Environmental forces affecting Quantitative Research Methods Assignment 2 Case Study Help includes the issues of environmental neighborhoods over the use of paper in publishing books. The paper utilized in the books while publishing is needed to be disposable and the ink utilized while publishing needs to not be harmful for the environment.
Legal.
Legal guidelines for the publishing sector at whole are high. The legal regulations relating to 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 Federal government to be entered in the publishing market. The regulation prohibits direct involvement of foreign entities and people in the publishing sector.
Industry Analysis (Porter's 5 Forces Model).
Porter's 5 Forces Design could be utilized to analyze the beauty of the publishing industry China. A short analysis of the Porter's Five Forces is offered as follows;.
Hazard of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Market is moderate. The potential growth in the industry tends to bring in brand-new entrants to the publishing market. The presence of extreme competition and the requirement of huge capital tends to demotivate brand-new entrants to go into in the market.
Risk of Substitution.
Hazard of Alternative is high for the Chinese Publishing Market. The substitute items for the published documents is the documents provided in the virtual libraries on specific websites. The changing customer preferences towards digital learning increase the threat of replacement for the industry.
Competitive Competition.
Competitive competition in the publishing market 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. Together with it, new entrants are likewise participating in the marketplace increasing the competition for CMP.
Bargaining Power of Provider.
The significant providers of the Quantitative Research Methods Assignment 2 Case Study Solution consist of the providers of the paper for releasing files. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the general bargaining power of supplier for CMP is low.
Bargaining Power of Buyer.
Bargaining 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 purchasers requires high quality documents at competitive prices.
Rivals Analysis.
CMP runs in a highly competitive market with the existence of a great deal of rivals. The company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major competitors of Quantitative Research Methods Assignment 2 Case Study Help include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIP acts as a danger 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 current market circumstance.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was also founded in the same duration as CMP and CIP. It ranks sixth in the state-owned publishers in regards to company scale. It is likewise among the popular players in the publishing industry with an annual overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Decreasing reliance over the Chinese markets.
• Increasing variety of Consumers
• Development opportunities.
• Preventing the impact of market saturation in the Chinese publishing market.
Cons
• Use of prospective resources in growth.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining consumer base.
• Approaching new markets.
• Easy to present using existing abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio offers high worth to consumers.
Cons
• Competition in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core organisation sections to the brand-new one can lead the company to lose demand of its products in the market.
Suggestions
With the deep analysis of the internal and external environment of the business in addition to the market analysis and the competitor analysis, Alternative 2 is advised to CMP to accomplish its future development. As the preferences are shifting towards digital publishing and the company need an immediate solution to avoid the decreasing industry development. Intro of digital publishing could prove to be an instant service with low quantity of danger for the company. Nevertheless, 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 company ought to initially gathers the data associated with the customer demand, the possible markets, the government guidelines and the information associated with the competitors presented in the market. After that, the business needs to choose one prospective sector for its initial offering. It must collect research study that how it might differentiate its digital publishing from the existing competitors' items. The actions above the company ought to go for the preliminary offering. If the initial offering shows a success, the company must opt for the other markets. In this way the company would be able to implement its digital publishing program.
Conclusion
Although, the development of the publishing industry is decreasing since 2008, showing a danger to the business's long term presence, however the scenario can be controlled by considering a development plan in the future. The company might think about presenting digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entryway in the new markets.
