Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution and Analysis
Introduction
Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Help is the biggest publishing company with a highest market share in the China's book retail market. CMP has actually ended up being a specialized information service provider and a large extensive Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
Critical Concerns
CMP has actually spent its 60 years journey smoothly, being an effective publishing home, however, the altering macro market trends and forces bring specific challenges to the publishing industry in basic and Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Help in specific. These factors consist of;
• Entrance of the brand-new publishing companies in the market.
• Declining development of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Enhancement of science and technology.
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 abilities of the business could be made use of 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
Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Analysis has certain strengths that can be utilized to reduce the threats, conquer the weakness and avail the chances. Strengths of CMP are offered as follows;
• The long term experience of Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Analysis in the publishing industry i.e. 60 years allows the business to offer high quality products at a lower expense using its previous experiences.
• The technical resources and abilities created by its successful journey provide a competitive benefit to CMP.
• Vast item portfolioof CMP helps it to diversify its risk and offer high worth to its clients.
• Strong monetary position allows the business to consider several advancement opportunities without any worry of raising fund externally.
Weak points
Along with the strengths, the business has particular weak points which might increase constraints for the company in executing its advancement program. The weak points of Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Help are given as follows;
• Despite of being a science and technology publishing company, the company still has conventional methods ofpublishing which are not compatible with the growing technological shift.
• CMP highly relies over the Chinese markets for its growth. It must propose particular growth strategies to avoid its reliance over the Chinese markets to accomplish long term growth.
Opportunities
The growth of the publishing market is decreasing because 2008, impacting Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Help as well, but the development could be revived by availing particular chances presented in the market. The marketplace opportunities for CMP include;
• The company could also present Digital Publishing by using its long term technical experience and a strong client acknowledgment in the market.
• CMP could think about an advancement program through the expansion towards foreign markets in order to minimize its reliance over Chinese markets by utilizing its vast financial resources.
Hazards
The changing macro trends in the market and increasing competitors in the publishing market has actually posed particular hazards to Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution including;( Gurel, 2017).
• Introduction of digital publishing i.e. virtual libraries might cause declining market share of Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution due to the consumer shift towards digital libraries.
• The existence of large number of competitors in the publishing industry increase the hazard for CMP to lose its competitive position in the market, as rivals can acquire a strong customer base by utilizing particular methods like aggressive promotion, quality items, etc.
• Entrance of new publishing firms in the market together with presence of high competition increases the threat of losing the client base.
Financial Analysis.
Due to absence of data, the monetary ratios of CMP might not be computed. It could be examined from the Appendix III that the annual overall earnings of Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Analysis throughout the period 2000-2012 are growing at a high growth rate, revealing that the annual need of the products of CMP is growing and the company is quite effective in attracting a large number of customers at a possible rate.
Along with it, the 2nd chart which shows the yearly development in the Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution overall properties, reveals that the company is rather effective in including worth to its properties through its revenues. The growth in assets shows that the total worth of the firm is likewise increasing with increasing the overall revenues. (Unidentified, 2013).
Another financial analysis of the business using the given information could be the analysis regarding the circulation of total earnings of the business. 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 might move towards other company sections with a prospective development to accomplish its future advancement goal.
PESTEL Analysis
PESTEL analysis could be performed to discover the different external forces impacting the efficiency of the company and the recent patterns 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 might have a significant impact on the frame of mind of the people about the communist ideology of the government, for that reason, the publishing sector is highly supervised and directed by the Publicity Department of the Communist Party of China. It could be said that the total political forces affecting CMP service are high. The government policies relating to the publishing sector are also increasing with the passage of time.
Economical.
Financial forces affecting the publishing sector in general and the Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution in particular includesthe prices of paper, the earnings level of consumers, the inflation rate, and the general GDP growth of the country. All these forces combine impact the need for the publishing market. In addition to it, the economic policies related to the import of books affect the overall business at CPM. Nevertheless, China's economic conditions are quite beneficial for CMP with high GDP growth and consumer earnings level.
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 altering consumer choices.
Technological.
Technological forces impacting the CMP include the technological improvement in the reading techniques and so on. Improvement of science and innovation in addition to the rise of digital publishing could reduce the need for the CMP items, if certain actions would not be taken soon.
Environmental.
Environmental forces affecting Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution includes the concerns of environmental 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 needs to not be hazardous for the environment.
Legal.
Legal policies for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be authorized first by the Government to be entered in the publishing market.
Market Analysis (Porter's 5 Forces Design).
Porter's 5 Forces Design might be used to evaluate the appearance of the publishing industry China. A brief analysis of the Porter's Five Forces is provided as follows;.
Threat of New Entrants.
Dangers of brand-new entrants in the Chinese Publishing Industry is moderate. The possible development in the industry tends to attract brand-new entrants to the publishing market. The presence of extreme competitors and the requirement of big capital tends to demotivate brand-new entrants to go into in the market.
Threat of Substitution.
Threat of Substitution is high for the Chinese Publishing Market. The alternative products for the released files is the documents presented in the virtual libraries on specific websites. The changing consumer choices towards digital learning increase the danger of alternative for the market.
Competitive Competition.
Competitive rivalry in the publishing market is high. The presence of large number of customers in the Chinese Publishing Market like CIP, PTP and so on tends to produce high competitive rivalry for CMP. Along with it, new entrants are likewise entering into the market increasing the competitors for CMP.
Bargaining Power of Provider.
The major providers of the Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Solution consist of the providers of the paper for releasing documents. As CMP is the largest 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 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 buyers requires high quality files at competitive costs.
Rivals Analysis.
CMP runs in an extremely competitive industry with the existence of a great deal of rivals. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Major rivals of Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Analysis include;.
• Chemical Market Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIPis one of the close rivals of CMP. Founded in the same period, CIP releases comparable kind of books. For a big time period, CIP held the largest market share, and still ranks third and second in numerous market sectors, with a major concentrate on instructional publications. CIP serves as a threat for CMP as it might wean its market share due to its long term competitive background. CIP is focused on digital publishing and might wean the market share of Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Analysis quickly in the present market situation.
Posts and telecommunication Press (PTP).
It was also founded in the same period as Titan Raga Evolving A Watch Brand For The Changing Consumer Case Study Help and CIP. It is also one of the prominent players in the publishing industry with an annual total profits of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing number of Customers
• Growth opportunities.
• Avoiding the effect of market saturation in the Chinese publishing industry.
Cons
• Usage of potential resources in expansion.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining customer base.
• Approaching brand-new markets.
• Easy to introduce utilizing existing capabilities.
• Low threat of Failure.
• Low requirement for funds.
• Increased item portfolio provides high worth to clients.
Cons
• Competition in the market by CIP, who has prior focus on the digital publishing.
• Shift of focus from the core organisation sections to the new one can lead the business to lose demand of its items in the market.
Suggestions
With the deep analysis of the internal and external environment of the company in addition to the market analysis and the competitor analysis, Alternative 2 is recommended to CMP to attain its future development. As the choices are moving towards digital publishing and the company need an instant option to prevent the declining market development. Intro of digital publishing might prove to be an immediate solution with low quantity of threat for the business. Nevertheless, the business might likewise consider the expansion program after the success of its digital publishing program.
Execution
In order to introduce digital publishing in its item portfolio, the company needs to first collects the data related to the consumer need, the potential markets, the federal government regulations and the data related to the competitors presented in the market. If the preliminary offering shows a success, the business needs to go for the other markets. In this way the business would be able to execute its digital publishing program.
Conclusion
Although, the growth of the publishing market is declining considering that 2008, revealing a hazard to the company's long term presence, however the scenario can be controlled by thinking about a development strategy in the future. The company could think about introducing digital publishingin its existing market to implement its advancement program at immediate basis and to avoid the threat of failure for entrance in the new markets.
