The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution and Analysis
Intro
The Park Hotels Revitalizing An Iconic Indian Brand Case Study Analysis is the largest publishing company with a highest market share in the China's book retail market. CMP has actually ended up being a specialized information company and a large detailed Science and Innovation publishing company through the integration of print media, audio-visual media and the network media.
Critical Concerns
Although, The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution has invested its 60 years journey smoothly, being a successful publishing home, however, the altering macro market patterns and forces bring specific challenges to the publishing market in basic and CMP in specific. These elements consist of;
• Entrance of the new publishing companies in the industry.
• Decreasing growth of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Enhancement of science and technology.
The improvement of the macro markets have raised numerous 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 business could be used to strive for the future advancement unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
The Park Hotels Revitalizing An Iconic Indian Brand Case Study Help has specific strengths that can be used to reduce the risks, overcome the weak point and avail the opportunities. Strengths of CMP are offered as follows;
• The long term experience of The Park Hotels Revitalizing An Iconic Indian Brand Case Study Help in the publishing market i.e. 60 years enables the company to supply high quality products at a lower cost utilizing its previous experiences.
• The technical resources and abilities created by its effective journey supply a competitive advantage to CMP.
• Vast item portfolioof CMP assists it to diversify its threat and offer high value to its consumers.
• Strong financial position enables the business to think about a number of advancement opportunities without any fear of raising fund externally.
Weaknesses
Together with the strengths, the business has certain weak points which might increase restraints for the company in implementing its advancement program. The weaknesses of The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution are given as follows;
• Despite of being a science and innovation publishing company, the business still has conventional methods ofpublishing which are not compatible with the growing technological shift.
• CMP extremely relies over the Chinese markets for its development. It ought to propose certain growth strategies to prevent its reliance over the Chinese markets to attain long term growth.
Opportunities
Although, the growth of the publishing market is declining because 2008, affecting The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution also, but the development could be revived by availing specific chances presented in the market. The market chances for CMP consist of;
• The business might also present Digital Publishing by using its long term technical experience and a strong consumer acknowledgment in the market.
• CMP might think about a development program through the expansion towards foreign markets in order to minimize its reliance over Chinese markets by utilizing its huge financial resources.
Hazards
The changing macro patterns in the market and increasing competitors in the publishing market has actually presented specific risks to The Park Hotels Revitalizing An Iconic Indian Brand Case Study Analysis consisting of;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries might lead to decreasing market share of The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution due to the consumer shift towards virtual libraries.
• The existence 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 acquire a strong customer base by utilizing particular techniques like aggressive promo, quality items, and so on
• Entryway of brand-new publishing companies in the market along with existence of high competitors increases the danger of losing the client base.
Monetary Analysis.
Due to absence of data, the financial ratios of CMP could not be computed. It could be evaluated from the Appendix III that the annual overall revenues of The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution during the duration 2000-2012 are growing at a high growth rate, showing that the yearly demand of the items of CMP is growing and the company is rather effective in drawing in a big number of customers at a potential cost.
Along with it, the 2nd graph which shows the annual growth in the The Park Hotels Revitalizing An Iconic Indian Brand Case Study Help total assets, shows that the company is rather effective in including worth to its assets through its profits. The development in assets shows that the overall worth of the firm is likewise increasing with increasing the total profits. (Unknown, 2013).
Another monetary analysis of the company using the given data could be the analysis relating to the circulation of overall incomes of the company. Major part of the profits of CMP comes from the sales of its published books i.e. 64% as displayed in the Case Appendix V. The company might move towards other service segments with a potential growth to attain its future advancement objective.
PESTEL Analysis
PESTEL analysis could be performed to learn the various external forces affecting the efficiency of the business and the current patterns in the external environment of the company. A brief PESTEL analysis of the company is offered as follows; (Alanzi, 2018).
Political.
As the publishing sector might have a substantial effect on the frame of mind of the people about the communist ideology of the government, therefore, the publishing sector is highly supervised and guided by the Publicity Department of the Communist Celebration of China. Therefore, it could be stated that the total political forces impacting The Park Hotels Revitalizing An Iconic Indian Brand Case Study Analysis organisation are high. The federal government policies relating to the publishing sector are also increasing with the passage of time.
Cost-effective.
Financial forces impacting the publishing sector in basic and the CMP in specific includesthe rates of paper, the earnings level of customers, the inflation rate, and the overall GDP growth of the country. All these forces combine impact the need for the publishing market.
Social and Demographical.
The consumer preferences are shifting towards digital publishing rather than the conventional was of publishing. In this regard, CMP must focus on digital publishing to meet the changing consumer choices.
Technological.
Technological forces impacting the CMP consist of the technological development in the reading techniques etc. Enhancement of science and technology in addition to the increase of digital publishing might minimize the need for the CMP products, if particular actions would not be taken quickly.
Environmental.
Ecological forces affecting The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution includes the concerns of ecological 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 used while publishing should not be damaging for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. The legal policies regarding the publishing sector is managed by the General Administration of Press and Publication. Publishing Ordinance 1997 requires the publishers to be approved first by the Government to be gone into in the publishing market. The ordinance prohibits direct involvement of foreign entities and people in the publishing sector.
Market Analysis (Porter's Five Forces Design).
Porter's 5 Forces Model 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;.
Danger of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Market is moderate. The prospective growth in the industry tends to bring in new entrants to the publishing market. Nevertheless, the presence of intense competitors and the requirement of huge capital tends to demotivate brand-new entrants to enter in the marketplace.
Risk of Substitution.
Danger of Replacement is high for the Chinese Publishing Market. The replacement products for the published documents is the files presented in the digital libraries on specific sites. The altering consumer choices towards digital knowing increase the threat of alternative for the market.
Competitive Rivalry.
Competitive competition in the publishing industry is high. The existence of a great deal of customers in the Chinese Publishing Industry like CIP, PTP and so on tends to produce high competitive rivalry for CMP. Together with it, brand-new entrants are also participating in the market increasing the competition for CMP.
Bargaining Power of Supplier.
The major providers of the The Park Hotels Revitalizing An Iconic Indian Brand Case Study Analysis include the suppliers of the paper for publishing files. As CMP is the biggest publisher in the Chinese Publishing Market, for that reason the general bargaining power of provider for CMP is low.
Bargaining Power of Purchaser.
Bargaining power of purchaser 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 prices.
Competitors Analysis.
CMP runs in an extremely competitive market with the presence of a great deal of competitors. Nevertheless, the company has a competitive position in the market with the greatest market share in the Chinese publishing market. Major rivals of The Park Hotels Revitalizing An Iconic Indian Brand Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts 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 could wean the market share of CMP easily in the current market situation.
Posts and telecommunication Press (PTP).
It was also established in the very same period as The Park Hotels Revitalizing An Iconic Indian Brand Case Study Help and CIP. It is likewise one of the prominent players in the publishing market with a yearly total revenues of RMB 550 million in 2010.
Alternatives
Alternative-1: Broaden towards New Markets
Pros
• Reducing dependence over the Chinese markets.
• Increasing variety of Consumers
• Development opportunities.
• Preventing the impact of market saturation in the Chinese publishing industry.
Cons
• Use of possible resources in growth.
• Threat of failure in new markets.
• Time consuming.
Alernative-2: Introduce Digital Publishing
Pros
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to introduce using present abilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio provides high worth to clients.
Cons
• Competitors in the market by CIP, who has prior concentrate on the digital publishing.
• Shift of focus from the core company sections to the brand-new one can lead the business to lose demand of its items in the market.
Recommendations
With the deep analysis of the external and internal environment of the business together with the market analysis and the rival analysis, Alternative 2 is suggested to CMP to attain its future development. As the preferences are shifting towards digital publishing and the business need an immediate solution to prevent the declining industry growth. Therefore, intro of digital publishing could show to be an immediate option with low quantity of danger for the business. The company might likewise consider the expansion program after the success of its digital publishing program.
Execution
In order to present digital publishing in its item portfolio, the business should initially collects the information related to the consumer need, the prospective markets, the government regulations and the data associated with the competitors presented in the market. After that, the business must decide one prospective section for its initial offering. It must gather research study that how it might differentiate its digital publishing from the existing rivals' products. The actions above the company must go for the preliminary offering. The company ought to go for the other markets if the initial offering shows a success. In this way the business would be able to implement its digital publishing program.
Conclusion
Although, the development of the publishing industry is decreasing since 2008, showing a threat to the company's long term existence, however the circumstance can be managed by considering an advancement strategy in the future. The business could think about presenting digital publishingin its existing market to execute its advancement program at immediate basis and to avoid the threat of failure for entrance in the new markets.
