Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution and Analysis
Intro
Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Help is the biggest publishing company with a greatest market share in the China's book retail market. CMP supplies a variety of services including; gathering information, processing information and communication services. Significant business sections of the business consist of; books, regulars, consultancy and circulation. The business has a huge product portfolio and its major products include books, regulars, online media, exhibitions, research study reports and so on. Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution has actually ended up being a specialized information company and a large detailed Science and Technology publishing business through the combination of print media, audio-visual media and the network media.
Crucial Issues
Although, Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Help has spent its 60 years journey smoothly, being an effective publishing home, nevertheless, the altering macro market trends and forces bring certain difficulties to the publishing market in general and CMP in specific. These aspects consist of;
• Entrance of the new publishing companies in the market.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing strategies
• Improvement of science and innovation.
The change of the macro markets have raised several concerns 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 abilities of the business could be utilized to strive for the future advancement unceasingly? How could the company sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Analysis has particular strengths that can be utilized to reduce the threats, conquer the weak point and obtain the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution in the publishing market i.e. 60 years allows the company to provide high quality products at a lower expense using its prior experiences.
• The technical resources and capabilities produced by its effective journey supply a competitive benefit to CMP.
• Huge product portfolioof CMP helps it to diversify its danger and offer high worth to its consumers.
• Strong monetary position permits the business to think about numerous advancement chances without any fear of raising fund externally.
Weak points
In addition to the strengths, the business has particular weak points which could increase restrictions for the company in implementing its development program. The weak points of Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution are provided as follows;
• Despite of being a science and innovation publishing firm, the company still has traditional ways ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its growth. It must propose certain expansion plans to prevent its reliance over the Chinese markets to achieve long term development.
Opportunities
The growth of the publishing industry is decreasing considering that 2008, impacting Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Help as well, however the development could be revived by availing certain opportunities provided in the market. The marketplace opportunities for CMP consist of;
• The business might also introduce Digital Publishing by using its long term technical experience and a strong customer recognition in the market.
• CMP might think about a development program through the growth towards foreign markets in order to reduce its dependence over Chinese markets by using its large financial resources.
Dangers
The changing macro patterns in the market and increasing competitors in the publishing market has actually positioned particular risks to Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Analysis including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries could cause declining market share of Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Help due to the customer shift towards virtual libraries.
• The presence of large number of competitors in the publishing industry increase the threat for CMP to lose its competitive position in the market, as competitors can get a strong consumer base by utilizing certain techniques like aggressive promotion, quality items, and so on
• Entrance of brand-new publishing firms in the industry in addition to presence of high competition increases the threat of losing the client base.
Monetary Analysis.
Due to absence of data, the monetary ratios of CMP might not be determined. It might be analyzed from the Appendix III that the annual overall revenues of Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution during the period 2000-2012 are growing at a high growth rate, showing that the yearly demand of the products of CMP is growing and the business is rather effective in attracting a big number of consumers at a potential cost.
Together with it, the 2nd graph which reveals the annual growth in the Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution overall possessions, shows that the company is rather efficient in adding worth to its possessions through its revenues. The development in assets reveals that the total worth of the company is also increasing with increasing the overall earnings. (Unidentified, 2013).
Another financial analysis of the company utilizing the given information might be the analysis regarding the distribution of overall revenues of the company. 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 potential growth to achieve its future advancement goal.
PESTEL Analysis
PESTEL analysis could be performed to discover the numerous external forces impacting the efficiency of the company and the recent patterns in the external environment of the company. A short PESTEL analysis of the business is provided as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a significant influence on the state of mind of the people about the communist ideology of the government, for that reason, the publishing sector is extremely supervised and guided by the Promotion Department of the Communist Celebration of China. Therefore, it could be said that the total political forces affecting Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution company are high. The government policies concerning the publishing sector are likewise increasing with the passage of time.
Affordable.
Financial forces affecting the publishing sector in general and the CMP in particular includesthe costs of paper, the income level of consumers, the inflation rate, and the general GDP development of the country. All these forces combine effect the demand for the publishing market.
Social and Demographical.
Social and demographical forces consist of the population development, the consumer's preferences towards reading useful products and so on. China has the highest population in the world with a high population growth, showing the increasing variety of customers of the Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Analysis. The consumer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP must concentrate on digital publishing to satisfy the changing customer choices.
Technological.
Technological forces affecting the CMP include the technological advancement in the reading techniques etc. Improvement of science and innovation in addition to the increase of digital publishing could reduce the need for the CMP items, if certain actions would not be taken soon.
Environmental.
Ecological forces affecting Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution consists of the issues of ecological communities over the usage of paper in publishing books. The paper used in the books while publishing is needed to be disposable and the ink used while publishing needs to not be harmful for the environment.
Legal.
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.
Industry Analysis (Porter's Five Forces Model).
Porter's 5 Forces Design might be used to evaluate the beauty of the publishing market China. A brief analysis of the Porter's Five Forces is offered as follows;.
Hazard of New Entrants.
Risks of brand-new entrants in the Chinese Publishing Industry is moderate. The possible growth in the industry tends to bring in brand-new entrants to the publishing industry. However, the presence of extreme competition and the requirement of huge capital tends to demotivate brand-new entrants to enter in the market.
Hazard of Substitution.
Risk of Replacement is high for the Chinese Publishing Industry. The alternative items for the published files is the files presented in the virtual libraries on particular websites. The altering consumer preferences towards digital learning increase the danger of substitution for the industry.
Competitive Rivalry.
Competitive rivalry in the publishing market is high. The presence of a great deal of customers 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 market increasing the competition for CMP.
Bargaining Power of Supplier.
The major providers of the Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution consist of the providers of the paper for publishing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the overall bargaining power of supplier for CMP is low.
Bargaining Power of Purchaser.
Bargaining power of buyer in the publishing industry is high. Due to the presence of a large number of publishers in the Chinese market and the market saturation, the purchasers needs high quality documents at competitive prices.
Competitors Analysis.
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 greatest market share in the Chinese publishing market. Major competitors of Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Help include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market 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 existing market scenario.
Posts and telecommunication Press (PTP).
It was also established in the exact same duration as Social Media And Human Need Satisfaction Implications For Social Media Marketing Case Study Solution and CIP. It is also one of the prominent players in the publishing market with an annual overall incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Minimizing reliance over the Chinese markets.
• Increasing number of Clients
• Development chances.
• Preventing the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of possible resources in growth.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching new markets.
• Easy to present utilizing present abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio supplies 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 service segments to the brand-new one can lead the company to lose demand of its products in the market.
Recommendations
As the preferences are shifting towards digital publishing and the business require an immediate option to prevent the declining industry growth. The company could also consider the growth program after the success of its digital publishing program.
Execution
In order to present digital publishing in its item portfolio, the company ought to initially gathers the data related to the customer demand, the prospective markets, the government guidelines and the data related to the competitors provided in the market. If the initial offering proves a success, the business must go for the other markets. In this method the company would be able to execute its digital publishing program.
Conclusion
The development of the publishing industry is decreasing since 2008, showing a threat to the business's long term presence, but the circumstance can be managed by considering a development plan in the future. The business might think about introducing digital publishingin its existing market to execute its advancement program at instant basis and to prevent the risk of failure for entryway in the brand-new markets.
