Assessing ExCeL London's External Environment for Sales Strategies

This report provides a comprehensive analysis of the external environment impacting ExCeL London, a major event venue. It examines various macro-environmental factors including political, economic, social, technological, environmental, and legal factors and their effects on the company's operations and sales. The report uses the PESTLE model to assess these factors, highlighting challenges such as Brexit's impact, changing customer demands, and technological advancements. It offers recommendations for ExCeL London to improve its sales and marketing strategies, such as refining customer segmentation, strengthening customer relationships, and implementing innovative event concepts. Furthermore, the report identifies and proposes solutions to challenges faced by ExCeL London, such as increasing competition within the event industry, focusing on innovation, and enhancing the guest experience.

Brief document
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
EXTERNAL ENVIRONMENT..................................................................................................3
Recommendation.........................................................................................................................6
CONCLUSION................................................................................................................................7
TASK 2............................................................................................................................................7
Solution to increasing challenges of growing competition within event industry.......................7
REFERENCES................................................................................................................................9
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marco environment refers to factors which exist in the whole economy, rather than
indulging in particular region or sector. It has wider scope in the market as it’s include gross
economy in the environment. Macro environment includes trends such as fiscal policy,
monetary, employment, inflation, and gross domestic product (GDP). Macro environment is
aggregate of production and spending in the environment. ExCel London which deals in events
in the market to operates its business activities. Company do events such as talk show, sports
events, conference etc. depending upon the requirements of the client. This report analysis
impact of external environment on ExCel London and suggest some strategies which increase
sales of the company. In this report pestle analysis model is used to analysis external factor so
that effective strategies can be suggested to remove various barriers of the firm.
TASK 1
EXTERNAL ENVIRONMENT
External environment includes all the outside factors which affect the operation and
productivity of business. These factors are not in control of business such as policies that are
framed by the government of a particular country (Urban and Kujinga, 2017). The business may
act or react to external factor to have a flow in the business to achieve the goal of the company.
Pestle model is use to analysis external factor of company such as:
Political factors
Policies of government also impact upon business operation such as Brexit that has
resulted in less import and export of company as it mainly trade with European Union. Company
sells has steady decreased that has resulted in less profit margin and market share therefore it
need to plan new ways to expand its operation. On the other hand free trade regulation has given
opportunity to company to organise various events in different countries and earn large amount
of profit (Chhatoi and Sahoo, 2019). Thus, it has promoted growth of ExCel London as well as
possess threat as due to Brexit company market share and sales volume have impacted. There are
various change in government policies so company while operating its business need to analysis
policies of government for smooth operation of business in the industry.
Economical Factors
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It included various components such as employment rate, disposable income of customers and
education level, interest rate that state economic condition of UK. Brexit has resulted in decrease
in sales volume and profitability of firm as people of UK have less disposable income to arrange
all such events. Continuous rise in employment rate has provide advantages to ExCel London to
recruit and select high educated, creative and skilled employees to perform different function
with organisation (Pilinkienė and Komskienė, 2016). Thus, it helps in reducing cost of running
business and delivery of qualitative products and services in order to maximum customer’s
satisfaction. Another impact of economic factor on ExCel London is reduction in investment of
capital in various resources sue to increase in rate of interest thus impacted on expansion of
business. Therefore company has planned to launch innovative events to meet needs of different
individual.
Social Factor
Customers need and demand change continuous as there are large number of
development and various companies that offer wide varieties of products and services to
enhanced customers satisfaction. There are large numbers of younger generation and adult
people in UK so company formulate effective strategies and plans that can provide best
customers experience (Shashlo, Petruk and Korostelev, 2018). One of the most things liked by
people in any events is decoration, effective management of time and tasty and delicious food as
per their needs. ExCel London on basis of theme of the event such conference meeting, or talk
show or sport events use different method and theme to decor the venue and meet need of
people. It also analysis need and preference of each guest and on that basis make arrangement to
tasty, healthy and delicious food. As people of UK are becoming more concerned about their
health issue so ExCel London has planned to provide food products that are health and tasty thus
helps in meeting customers need. Due to development of technology people demand high
technology should be used in events to make show successful such as personalised experience
and use of virtual media (King and Vaiman, 2019). Therefore ExCel London has also used all
such technologies while conducting different events such as personal invitation through emails,
use of virtual technology so that guest can watch event from closer. So it helps in satisfying
needs and preference of customers and expansion of brand image and profitability of the firm.
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Technological Factor
As market trends are changing fast from time to time company also needs to make
changes according to the technology changes prevailing in the market. Technology change refers
to media technology which is of many types in the business market of the country. ExCel
London always aware of the technologies change which are prevailing in the market. This
company increase profits by making changes to the according to the needs of the market to
achieve the group goal. ExCel London always focuses on the media technology to capture the
targeted customers of the company to achieve the profits from the business (Hafenbrädl and
Waeger, 2017). Company is always aware about the market changes as market is unpredictable
and has changes from time to time. Therefore it helps company in providing better and
qualitative experience to large number of customers thus increase its brand image. Innovative
technologies helps in minimising effort and time taken to perform various activities in events so
that best services can be render to customers.
Environment Factors
It is the most important issue that impact on operation of ExCel London due to increase
concerned and awareness among government and general public about negative impact of
companies on environment. ExCel London while organising various events ensure that it
effectively utilise resource so that maximum output can be resulted from minimum inputs. It has
also invested in CSR to market its products, services and brand image by making large number
of customers happy and satisfied (Garcia-Sanchez Cuadrado-Ballesteros and Frias-Aceituno,
2016). ExCel London has use innovative technologies and method to reduce wastage of effort,
resource and time so that best and qualitative services can be render to customers within limited
time. All such steps taken by government helps in effective growth and expansion of business
and satisfying needs of wide range of guest as they prefer companies that organise events that
operate in ethical manner and sustainable use for better health and safety of people.
Legal Factors
Various legal laws are formulated by government for effective and better health of
employees and guest that have come for particular events. Such as fire safety regulation, GDPR
and employment law, health and safety laws are considered by ExCel London for effective
operation of business in the hospitality industry. Company have taken various steps and safety
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measure so that in case of fire or any uncertain circumstance it can take appropriate steps for
better health and safety of guest and employees that are present to make events successful. ExCel
London also follow GDPR law which state that company while collecting various personal data
of guest need to get consent of them in order to avoid legal complication. Government has
imposed such act to protect misuse of financial and other information of banks by various
individual for different purpose (Quevedo and Quevedo-Prince, 2019). Therefore ExCel London
collect feedback, review and personal information of particular guest by informing them why
they need information, what are its uses and how we finally use information.
Recommendation
As per above analysis there are various recommendation for company to grow and
expand its business operation in the industry such as:
1. It has to resigning its marketing strategies through effective segmenting customer
on basis of various requirements such as geographical location, psychological
needs and demographical structure of guest that will attend particular event of
firm. ExCel London can also market its various events program through use of
innovative technologies such as social media to attract large number of younger
generation (Fried, Novan and Peterman, 2020). Company should also increase its
presence in online and provide information about various events that company
organise so that customers can easily select suitable option as per their needs.
2. Another step that need to be taken by company is to maintained effective and
strong relationship with its customers through taking continuous feedback by use
of social media such as Facebook and Twitter.
3. It also have to formulate effective marketing strategies and use innovative
technology to make events completely different from other competitors in the
market to earn large amount of profit margin (Otieno and Njuguna, 2016). Unique
and innovative events help in building strong brand image and enhanced
customers satisfaction, loyalty.
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CONCLUSION
From the above report it can be concluded that various macro environmental factors
impact on profitability and operation of business. It can also be concluded that ExCel London is
one of the leading event company that effective analysis external environment to protect itself
from various threats and effective utilise available opportunities. There are various barrier and
challenges faced by ExCel London while operating its business so appropriate strategies and plan
will helps in growth and expansion of company in the market.
TASK 2
Solution to increasing challenges of growing competition within event industry
ExCel London has emerged as one of the most successful venue for the events but it has
been facing huge challenges from increasing number of competitors and changing trends in event
industry. Thus it is very essential for ExCel London to adopt measures which helps to provide it
competitive advantage over other leading organisers in the industry (Hawkins and Bonney,
2019). Most of the existing competitors organises the traditional events such as exhibitions,
business launch or other conventional events. However ExCel London must continue its
strategies to host innovative events such as eSports tournaments and automotive experiential
marketing for businesses. Such types of events play a valuable role in attractive new customer
segments. It also distinguishes the services of ExCel London from other competitors.
The service provider uses various strategies such as aggressive social media promotional
strategies, space flexibility and greater emphasis on guest experience. With regular association of
international events ExCel London has made it possible to create a glorified image of its brand
perception. Another solution which can play a crucial role in gaining competitive benefit is
technology. ExCel London not only uses online advertisement and social media tools for
promotion but also to improve the guest experience. To lead other event service providers ExCel
London must also follow the most recent trends in the event industry. For instance the health and
security of the venue is among the top most priority of the planners. Thus the venue uses advance
monitoring and planning for ensuring the safety and security of the guests (Park and Park, 2017).
The guest security and availability of all necessary services is one of the important factors which
require regular improvement.
Thus for improving the guest experience ExCel London must focus on improving its
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operational area. For instance most of the competitors emphasis on service quality thus to gain
additional benefits ExCel London must also take additional aspects into considerations.
Travelling time is one of the elements influencing the decision making of guests. Thus along
with the services ExCel can seek to focus more on increasing accessibility of its destination. For
this purpose it can work and plan on developing its own network or transport facilities so that
more and more international and tourist exposure can be gained.
ExCel London must not restrict its services to UK only instead it makes attempts to
attract the international customers who find its services worthy and easily approachable. For
greater sustainability in the market ExCel London must also try to provide world class facilities
making it suitable for vast range of targeted customers. For instance in terms of food services,
accommodations, accessibility routes and technological integration of the services ExCel must
develop itself to the highest extent. These services must integrate not only European culture but
also the concept of sustainability, global changes and taste of individual customers. It will help
service provider to deliver to understand the preferences of consumers and enhance customer
experience along with competitive advantage (Gordin and et.al., 2018).
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REFERENCES
Books and Journals
Chhatoi, B. P. and Sahoo, S. P., 2019. A Review on Role of Macro and Micro Banking
Environment on Non-Performing Assets Management. In Behavioral Finance and Decision-
Making Models (pp. 281-294). IGI Global.
Fried, S., Novan, K. and Peterman, W. B., 2020. The Macro Effects of Climate Policy
Uncertainty.
Garcia-Sanchez, I. M., Cuadrado-Ballesteros, B. and Frias-Aceituno, J. V., 2016. Impact of the
institutional macro context on the voluntary disclosure of CSR information. Long Range
Planning, 49(1). pp.15-35.
Gordin, V., and et.al., 2018. Flexible Organizational Structures in Event Industry.
In Современный менеджмент: проблемы, гипотезы, исследования (pp. 110-120).
Hafenbrädl, S. and Waeger, D., 2017. Ideology and the micro-foundations of CSR: Why
executives believe in the business case for CSR and how this affects their CSR
engagements. Academy of Management Journal, 60(4), pp.1582-1606.
Hawkins, C.J. and Bonney, M.S., 2019. Lean thinking in leisure: continuously improving event
volunteering and management. Annals of Leisure Research. 22(3). pp.362-372.
King, K. A. and Vaiman, V., 2019. Enabling effective talent management through a macro-
contingent approach: A framework for research and practice. BRQ Business Research
Quarterly, 22(3). pp.194-206.
Otieno, G. and Njuguna, A.G., 2016. The Influence of Macro-Economic Factors on Foreign
Direct Investment Flows in Kenya for the Period 2002-2013.
Park, S.B. and Park, K., 2017. Thematic trends in event management research. International
Journal of Contemporary Hospitality Management.
Pilinkienė, V. and Komskienė, D., 2016. Macro economical tendencies for sport sponsorship
development. Academic journal of interdisciplinary studies, 5. pp.128-131.
Quevedo, F. J. and Quevedo-Prince, A. K., 2019. A Predictive Model for the US Non-profit
Market; A Macro to a Micro Perspective. Advanced Journal of Social Science, 5(1). pp.1-9.
Shashlo, N. V., Petruk, G. V. and Korostelev, A. A., 2018. Determinants of integration
interaction among the subjects of the entrepreneurial innovation ecosystem of macro
region. Amazonia Investiga, 7(13). pp.351-363.
Urban, B. and Kujinga, L., 2017. The institutional environment and social entrepreneurship
intentions. International Journal of Entrepreneurial Behavior & Research.
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