Quantitative Research Methods Assignment Case Study Solution and Analysis
Quantitative Research Methods Assignment Case Study Analysis is the largest publishing business with a greatest market share in the China's book retail market. CMP provides a number of services consisting of; collecting details, processing information and communication services. Significant company sectors of the business consist of; books, periodicals, consultancy and circulation. The business has a huge item portfolio and its major products include books, periodicals, online media, exhibitions, research study reports and so on. Quantitative Research Methods Assignment Case Study Analysis has become a specialized details provider and a big thorough Science and Innovation publishing business through the integration of print media, audio-visual media and the network media.
Although, Quantitative Research Methods Assignment Case Study Solution has actually invested its 60 years journey efficiently, being a successful publishing home, nevertheless, the altering macro market trends and forces bring particular difficulties to the publishing market in general and CMP in particular. These aspects consist of;
• Entrance of the brand-new publishing companies in the market.
• Decreasing development of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Enhancement 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 important experience, technical resources and the capabilities of the business could be used to pursue the future development unceasingly? How could the company sustain its long term competitive position in future?
Quantitative Research Methods Assignment Case Study Analysis has specific strengths that can be utilized to lower the risks, overcome the weakness and obtain the opportunities. Strengths of CMP are given as follows;
• The long term experience of Quantitative Research Methods Assignment Case Study Help in the publishing industry i.e. 60 years enables the company to supply high quality products at a lower expense using its prior experiences.
• The technical resources and capabilities created by its successful journey offer a competitive benefit to CMP.
• Vast product portfolioof CMP assists it to diversify its threat and supply high worth to its consumers.
• Strong financial position permits the business to think about numerous development chances without any fear of raising fund externally.
Together with the strengths, the company has particular weaknesses which could increase restrictions for the company in executing its advancement program. The weaknesses of Quantitative Research Methods Assignment Case Study Help are offered as follows;
• Despite of being a science and innovation publishing company, the business still has conventional ways ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It needs to propose certain growth strategies to prevent its dependence over the Chinese markets to achieve long term growth.
Although, the development of the publishing industry is declining since 2008, affecting Quantitative Research Methods Assignment Case Study Analysis too, but the growth might be restored by availing particular opportunities provided in the market. The market chances for CMP consist of;
• The business might likewise introduce Digital Publishing by using its long term technical experience and a strong customer recognition in the market.
• CMP could think about a development program through the growth towards foreign markets in order to minimize its reliance over Chinese markets by utilizing its huge financial resources.
The changing macro trends in the market and increasing competitors in the publishing market has postured certain dangers to Quantitative Research Methods Assignment Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could lead to decreasing market share of Quantitative Research Methods Assignment Case Study Analysis due to the consumer shift towards digital libraries.
• The existence of large number of competitors in the publishing market increase the danger for CMP to lose its competitive position in the market, as rivals can gain a strong consumer base by using particular methods like aggressive promotion, quality items, and so on
• Entrance of new publishing firms in the market along with presence of high competition increases the hazard of losing the customer base.
Due to absence of data, the financial ratios of CMP might not be computed. It might be examined from the Appendix III that the yearly overall earnings of Quantitative Research Methods Assignment Case Study Solution throughout the period 2000-2012 are growing at a high development rate, showing that the annual need of the products of CMP is growing and the business is quite efficient in attracting a large number of customers at a prospective price.
Along with it, the second graph which reveals the annual development in the Quantitative Research Methods Assignment Case Study Analysis overall properties, shows that the company is quite efficient in including worth to its possessions through its incomes. The growth in possessions reveals that the overall worth of the company is also increasing with increasing the overall revenues. (Unknown, 2013).
Another monetary analysis of the business using the given information could be the analysis concerning the circulation of total revenues of the business. Major part of the revenues of CMP comes from the sales of its published books i.e. 64% as shown in the Case Appendix V. The company could move towards other business sectors with a possible growth to achieve its future advancement objective.
PESTEL analysis might be performed to discover the numerous external forces impacting the efficiency of the business and the current trends in the external environment of the business. A quick PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
As the publishing sector might have a significant influence on the state of mind of individuals about the communist ideology of the federal government, therefore, the publishing sector is extremely supervised and assisted by the Promotion Department of the Communist Celebration of China. It could be said that the general political forces impacting CMP service are high. The federal government policies concerning the publishing sector are also increasing with the passage of time.
Economic forces impacting the publishing sector in basic and the CMP in specific includesthe rates of paper, the earnings level of consumers, the inflation rate, and the overall GDP development of the nation. All these forces combine impact the demand for the publishing market.
Social and Demographical.
Social and demographical forces consist of the population growth, the customer's preferences towards checking out useful products and so on. China has the greatest population on the planet with a high population development, revealing the increasing variety of consumers of the Quantitative Research Methods Assignment Case Study Solution. The consumer preferences are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP should concentrate on digital publishing to fulfill the altering consumer preferences.
Technological forces impacting the CMP consist of the technological development in the reading techniques and so on. Enhancement of science and innovation along with the rise of digital publishing could reduce the need for the CMP items, if specific actions would not be taken quickly.
Ecological forces affecting Quantitative Research Methods Assignment Case Study Analysis includes the issues of ecological neighborhoods over the use of paper in publishing books. The paper utilized in the books while publishing is required to be non reusable and the ink used while publishing should not be hazardous for the environment.
Legal guidelines for the publishing sector at whole are high. Publishing Regulation 1997 requires the publishers to be authorized initially by the Government to be gone into in the publishing market.
Market Analysis (Porter's Five Forces Design).
Porter's Five Forces Design could be used to examine the beauty of the publishing market China. A quick analysis of the Porter's Five Forces is given as follows;.
Threat of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Industry is moderate. The possible development in the industry tends to attract new entrants to the publishing industry. Nevertheless, the existence of extreme competitors and the requirement of substantial capital tends to demotivate brand-new entrants to go into in the marketplace.
Danger of Replacement.
Hazard of Replacement is high for the Chinese Publishing Industry. The substitute products for the published documents is the documents provided in the virtual libraries on specific sites. The altering consumer preferences towards digital knowing increase the danger of replacement for the market.
Competitive rivalry in the publishing industry is high. The presence of large number of consumers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. Together with it, brand-new entrants are likewise participating in the marketplace increasing the competitors for CMP.
Bargaining Power of Provider.
The major suppliers of the Quantitative Research Methods Assignment Case Study Help include the providers of the paper for releasing files. As CMP is the biggest publisher in the Chinese Publishing Market, therefore the total bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Haggling power of purchaser in the publishing market is high. Due to the existence of a large number of publishers in the Chinese market and the market saturation, the buyers requires high quality documents at competitive prices.
CMP runs in an extremely competitive market with the existence of large number of competitors. Nevertheless, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Quantitative Research Methods Assignment Case Study Analysis consist of;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Industry Press (CIP).
CIPis one of the close rivals of CMP. Founded in the very same period, CIP publishes similar type of books. For a big period, CIP held the largest market share, and still ranks 2nd and third in different market sections, with a major focus on academic publications. CIP serves as a danger for CMP as it might wean its market share due to its long term competitive background. CIP is concentrated on digital publishing and might wean the marketplace share of Quantitative Research Methods Assignment Case Study Help quickly in the current market circumstance.
Posts and telecommunication Press (PTP).
Another close rival of CMP is PTP. It was likewise founded in the very same duration as CMP and CIP. It ranks 6th in the state-owned publishers in terms of organisation scale. It is also one of the popular gamers in the publishing industry with a yearly overall revenues of RMB 550 million in 2010.
Alternative-1: Expand towards New Markets
• Lowering reliance over the Chinese markets.
• Increasing variety of Clients
• Growth chances.
• Avoiding the effect of market saturation in the Chinese publishing industry.
• Usage of prospective resources in growth.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to present using present capabilities.
• Low risk of Failure.
• Low requirement for funds.
• Increased item portfolio provides high value to clients.
• Competitors in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core service 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 internal and external environment of the business together with the market analysis and the rival analysis, Alternative 2 is suggested to CMP to achieve its future advancement. As the preferences are shifting towards digital publishing and the company require an instant solution to avoid the declining market development. Intro of digital publishing might show to be an instant service with low quantity of danger for the business. However, the company could likewise consider the expansion program after the success of its digital publishing program.
In order to present digital publishing in its product portfolio, the business should initially gathers the data related to the customer need, the prospective markets, the federal government policies and the data related to the rivals presented in the market. If the initial offering shows a success, the business should go for the other markets. In this method the company would be able to implement its digital publishing program.
The growth of the publishing industry is declining since 2008, revealing a threat to the company's long term existence, however the circumstance can be controlled by considering an advancement strategy in the future. The business might think about introducing digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the danger of failure for entryway in the new markets.