MINISTRY OF SOUND CHARLOTTE, JAKE, JESSICA.. PESTEL ANALYSIS

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PESTEL ANALYSISEconomical

Dance music market share increasing and then fell dramatically as trends changed

Social ‘Second summer of love’ 1988

Music styles changingOlder clubbers deterring young clubbers

Clubs being regarded as cheesy

Technological Technologically advanced ‘Super clubs’ were created

Games and audio equipmentOnline music channel

Legal 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