Transcript Ministry Of Sound - Staffordshire University

PESTEL ANALYSIS
Dance music market share increasing and then fell dramatically as trends changed
‘Second summer of love’ 1988
Music styles changing
Older clubbers deterring young clubbers
Clubs being regarded as cheesy
Technologically advanced ‘Super clubs’ were created
Games and audio equipment
Online music channel
Bangkok’s ministry of sound forced to close
Changing the security in the clubs to reduce drug dealing/use
MAJOR OPPORTUNITIES & THREATS - 2004
Opportunities
Threats
• Change of chief executive – ‘New style’
• Consumer products – Audio Equipment/DJ
• Using the brand to launch entertainment
products – Online music/Games
• Focusing on developing the brand and
‘brand division’
• Expansion of ‘super clubs’
• Relationships and affiliations with other
large brands – Philips/Bacardi
• Fast paced industry with changing
fashions
• Market share falling – 15.4% (dance
music)
• Competition from live music – more ‘on
trend’
• Losing ‘edge’ and style – becoming
‘cheesy’
• Lack of knowledge from James Palumbo
• Drug trading
CRITICAL SUCCESS FACTORS
•
Must ensure relevancy to current consumer trends and be innovative with future
developments
•
Apply new found knowledge successfully in order to work out possible shining stars and cash
cows, and to discard problem children and dogs
•
Must be technologically advanced to gain a competitive advantage
•
Create a clear and precise direction, strategy and discover the ‘core’ to create a standardised
approach throughout the organisation
•
Manage divisions efficiently and effectively, ensuring communication and compatibility
throughout
•
Strengthen relationships and alliances with other international organisations and brands