Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution and Analysis
Intro
Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Analysis is the largest publishing company with a greatest market share in the China's book retail market. CMP has ended up being a specialized info service provider and a large thorough Science and Technology publishing company through the integration of print media, audio-visual media and the network media.
Vital Concerns
Although, Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Help has actually invested its 60 years journey efficiently, being an effective publishing house, however, the changing macro market trends and forces bring specific obstacles to the publishing industry in general and CMP in particular. These aspects include;
• Entryway of the brand-new publishing firms in the market.
• Declining growth of the publishing market.
• Market saturation.
• Intro of digital publishing methods
• Enhancement of science and technology.
The change of the macro markets have raised numerous 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 abilities of the business could be made use of to pursue the future development unceasingly? How could the business sustain its long term competitive position in future?
Situational Analysis
Internal Analysis
SWOT Analysis
Strengths
Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution has certain strengths that can be utilized to decrease the threats, overcome the weak point and avail the opportunities. Strengths of CMP are provided as follows;
• The long term experience of Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution in the publishing market i.e. 60 years permits the company to provide high quality items at a lower expense utilizing its prior experiences.
• The technical resources and abilities created by its successful journey offer a competitive advantage to CMP.
• Vast product portfolioof CMP assists it to diversify its risk and provide high worth to its clients.
• Strong financial position permits the business to think about numerous advancement chances with no fear of raising fund externally.
Weak points
In addition to the strengths, the company has particular weak points which might increase constraints for the company in implementing its advancement program. The weaknesses of Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Analysis are given as follows;
• Despite of being a science and technology publishing firm, the company 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 should propose particular growth plans to prevent its dependence over the Chinese markets to accomplish long term development.
Opportunities
Although, the growth of the publishing market is decreasing given that 2008, affecting Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution as well, however the growth might be restored by availing specific chances provided in the market. The market opportunities for CMP include;
• The business could likewise introduce Digital Publishing by utilizing its long term technical experience and a strong client recognition in the market.
• CMP could consider a development program through the expansion towards foreign markets in order to reduce its dependence over Chinese markets by utilizing its vast financial resources.
Hazards
The changing macro patterns in the market and increasing competitors in the publishing industry has positioned particular dangers to Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Help including;( Gurel, 2017).
• Intro of digital publishing i.e. virtual libraries might cause declining market share of Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution due to the consumer shift towards virtual libraries.
• The existence of large number of competitors in the publishing industry increase the risk for CMP to lose its competitive position in the market, as rivals can get a strong customer base by using particular techniques like aggressive promo, quality products, etc.
• Entryway of new publishing companies in the market along with existence of high competition increases the risk of losing the consumer base.
Monetary Analysis.
The company has a rather competitive financial performance. Due to lack of data, the financial ratios of CMP might not be computed. However, the total monetary efficiency of the business might be analyzed by utilizing the charts given in the case Appendices. It could be examined from the Appendix III that the yearly overall profits of CMP during the period 2000-2012 are growing at a high development rate, revealing that the yearly need of the products of Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution is growing and the business is quite effective in drawing in a a great deal of customers at a prospective price.
Along with it, the second chart which reveals the yearly development in the Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Help total properties, shows that the company is quite efficient in including worth to its assets through its revenues. The growth in possessions shows that the total worth of the firm is also increasing with increasing the total revenues. (Unknown, 2013).
Another monetary analysis of the company utilizing the provided data could be the analysis regarding the circulation of total earnings of the company. Major part of the earnings of CMP originates from the sales of its released books i.e. 64% as displayed in the Case Appendix V. The business could move towards other company sections with a potential development to accomplish its future advancement goal.
PESTEL Analysis
PESTEL analysis could be performed to find out the different external forces affecting the efficiency of the business and the current trends in the external environment of the business. A quick PESTEL analysis of the business is given as follows; (Alanzi, 2018).
Political.
As the publishing sector could have a significant effect on the frame of mind of the people about the communist ideology of the federal government, therefore, the publishing sector is extremely supervised and directed by the Promotion Department of the Communist Party of China. Therefore, it might be stated that the general political forces affecting Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution organisation are high. The government policies regarding the publishing sector are also increasing with the passage of time.
Economical.
Economic forces impacting the publishing sector in general and the Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution in particular includesthe costs of paper, the income level of consumers, the inflation rate, and the total GDP development of the nation. All these forces combine impact the need for the publishing market. Together with it, the economic policies associated with the import of books affect the overall organisation at CPM. China's financial conditions are rather favorable for CMP with high GDP development and customer income level.
Social and Demographical.
The customer preferences are shifting towards digital publishing rather than the standard was of publishing. In this regard, CMP must focus on digital publishing to meet the changing consumer preferences.
Technological.
Technological forces impacting the CMP consist of the technological advancement in the reading methods etc. Improvement of science and innovation together with the increase of digital publishing could minimize the demand for the CMP products, if certain actions would not be taken quickly.
Environmental.
Environmental forces affecting Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Analysis consists of the issues of ecological communities 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 must not be hazardous for the environment.
Legal.
Legal regulations for the publishing sector at whole are high. Publishing Ordinance 1997 needs the publishers to be approved initially by the Federal government to be entered in the publishing market.
Industry Analysis (Porter's 5 Forces Design).
Porter's 5 Forces Design might be used to evaluate the beauty of the publishing market China. A short analysis of the Porter's Five Forces is given as follows;.
Danger of New Entrants.
Threats of brand-new entrants in the Chinese Publishing Industry is moderate. The prospective growth in the market tends to draw in brand-new entrants to the publishing industry. The existence of intense competition and the requirement of substantial capital tends to demotivate brand-new entrants to go into in the market.
Threat of Alternative.
Risk of Alternative is high for the Chinese Publishing Industry. The substitute products for the released documents is the files presented in the virtual libraries on particular websites. The altering consumer choices towards digital knowing increase the hazard of substitution for the market.
Competitive Rivalry.
Competitive rivalry in the publishing industry is high. The presence of large number of customers in the Chinese Publishing Market like CIP, PTP etc. tends to produce high competitive rivalry for CMP. Along with it, brand-new entrants are likewise entering into the market increasing the competition for CMP.
Bargaining Power of Supplier.
The major suppliers of the Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Help include the providers of the paper for releasing documents. As CMP is the largest publisher in the Chinese Publishing Market, therefore the overall bargaining power of provider for CMP is low.
Bargaining Power of Buyer.
Haggling power of buyer in the publishing market is high. Due to the presence of a large number of publishers in the Chinese market and the marketplace saturation, the buyers needs high quality files at competitive prices.
Rivals Analysis.
CMP runs in an extremely competitive market with the presence of large number of competitors. However, the company has a competitive position in the market with the highest market share in the Chinese publishing market. Significant competitors of Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Solution include;.
• Chemical Industry Press (CIP).
• Posts and telecommunication Press (PTP).
Chemical Market Press (CIP).
CIP acts as a threat 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 present market scenario.
Posts and telecommunication Press (PTP).
It was also founded in the very same period as Yoc Ag Integrating The Mobile Phone Into The Marketing Mix Case Study Help and CIP. It is also one of the popular gamers in the publishing market with an annual total incomes of RMB 550 million in 2010.
Alternatives
Alternative-1: Expand towards New Markets
Pros
• Lowering reliance over the Chinese markets.
• Increasing number of Consumers
• Growth opportunities.
• Avoiding the effect of market saturation in the Chinese publishing industry.
Cons
• Use of prospective resources in expansion.
• Threat of failure in brand-new markets.
• Time consuming.
Alernative-2: Present Digital Publishing
Pros
• Sustaining consumer base.
• Approaching brand-new markets.
• Easy to introduce using existing abilities.
• Low danger of Failure.
• Low requirement for funds.
• Increased product portfolio offers high worth to clients.
Cons
• Competition 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
As the preferences are shifting towards digital publishing and the business need an immediate solution to prevent the declining industry growth. The business could 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 business ought to first collects the information related to the customer need, the potential markets, the government policies and the data related to the rivals provided in the market. If the preliminary offering shows a success, the company ought to go for the other markets. In this method the company would be able to execute its digital publishing program.
Conclusion
The growth of the publishing market is declining since 2008, revealing a hazard to the company's long term presence, but the circumstance can be managed by considering a development strategy in the future. The company might consider presenting digital publishingin its existing market to implement its development program at instant basis and to prevent the danger of failure for entrance in the new markets.
