Pest Analysis For Madame Tussauds

Identify concepts and best practices of management

Describe about the Pest Analysis For Madame Tussauds?

Madame Tussauds, London is the most attractive place not only of Britain but also of the world. This is due to reason that you can find every celebrity who is famous for their works in various sectors. The celebrities who are found in here can be tangible and intangible. It was basically a wax sculptor museum found by Marie Tussauds in 1835. But now it is more than a museum, the wax figures are only the half the story. It is the places which can answer a typical question that,” what is the place where you can find celebrities of different countries, sections, communities at one place?”. This is the place which has all star celebrity party, giving the leaders of the world the peace of mind and also the torments of horrible chamber of past killings (Wells and John ,2009).

The completion of the story of the wax museum is with the people who are managing the place, who work hard to make things come alive and make every visit of the people a memorable one.

The management at the Madame Tussauds have high focus on the making the trip of the visitors the most memorable one. This is done by proper management of all the things, it include all the work like the management of lighting effects on the sculptors, the sitting area, the areas around the wax sculptors, keeping the sculptors clean, maintaining the work place in a best condition and etc. these are few of the responsibilities that are performed by the management people of the museum. To make the experience of the people as the best whenever they visit the place they have set up certain critical terms on which they work upon. It the best management which have made the name of the Madame Tussauds as a world renowned place and due to this they have may branches at different countries of the world. Since the time it is set up by  Marie tussauds, and after her, her grandson who have lead the museum in most effective way which make the room of sculptors turned into a place of attraction for the people of the world. This is the place where you find the compilation of all the celebrities of the world at one place. This time the management is with Merlin Entertainment Group Limited (GB) which is handing the European branches of the Madame Tussauds and they are handling it in a much better way as it was before. Now it is privilege place for all the royal ceremonies, the best example for this is when the sculptors of her royal highness Elizabeth II and the Price Williams & Kate Middleton at the royal area of the museum which was the most media attraction things at that time at Madame tussauds. The following are couple of pictures of royal area and including some other past images.

The best management team does achieve this success all in all. They have certain hard working efforts to make the place live up to the world standards. For this they have set up some very effective rules and regulations for the staff and the few are discussed below:-

Staff strategies/procedure for customer care

They have set up strict systems like the first step start with the punctuality of the people who are working in the museum.

The management of all the sections of the museum by assigning the jobs to all the members and follows the terms of that job strictly.

The work that is assignment to someone should be done well before the time period. This will give the flexibility to make changes if required.

About the main ruling area of the Madame Tussauds where the people gather should be well maintained and the changes should be done on certain period of time so that people could experience a different thing at every visit to the museum, make it more excited for people (Wells and John ,2009).

Setting up of various rules and regulations for the people who visit the museum and made them follow that rules.

Setting up certain preventive measures if the rules are not followed by the people. This is done by setting up various security sections in the museum.

All people have valid ticket for the admission in the attraction centre.

These are few of the rules and regulations that are set by the management committee of the museum. So that anyone may not breach the rules and make the things not suitable as it is required.

Madame Tussauds is reorganized as the most effective brand which has strong reputation throughout the world and is the second strongest group of the world after Disney. The staff which is engaged in making the things better, runs with some strategies and procedures which are always needed to be followed by the staff. There different section of staff strategies which include:-

The marketing mix of four P’s

PEST analysis for Madame Tussaud

SWOT analysis for Madame Tussaud.

These are the three most valuable and important strategies of the staff of Merlin group for Madame Tussaud. The brief description of all the three strategies are discussed below:-

Marketing Mix of Four P’s:- The marketing mix is the perfect blend all the things that are required to promote the right product, at the right price, at the right place and with perfect form of promotion of the product. That means the four p’s are the product, price, place and promotion. This is the most basic and most impressive form which maintains the balance in the product and the services which are introduced into the market. The brief introduction to all four’s are given below:-

PRODUCT: – This is the most important part of the marketing mix, as it is the main source where the group can generate sales revenue. Without this no one can think of the profit that is to be gained when the sales will rise about the product. At the Madame Tussaud in the second renowned tourist spots in the world. Due to the presence of wax statues of the celebrities, royal figures and highly profiled political leaders, the people feel facilitated make them to their loved ones at one place. so it is quite important to show the right product which will attract the people with full strength.

Marketing mix of four P’s

Price: – The price of the product that is being introduced in the market should be right price so that people do not feel that is above the range of their pockets. To give the best experience to the people which spent the handsome sum of money to be the part of Madame Tussaut, the staff of the Merlin group do the best that they will give the full outcome of the money which the people have spent to experience the privilege of Madame Tussaut. This can also help increasing the revenue of the group. There are different kind of offer they introduce in the market to attract the customers towards them. So the right pricing of the product is necessary.

Place:- Finding the perfect place where the marketing of the product is done. The place should be  the one where most the people get attracted and getting awareness of the offeres that are being introduced and what kind of new product that is being introduced by the group. Madame Tussaud has different branches in the world like in America, Amsterdam, new York, Sydney, las vegas and many other places where there are the people which get attracted by seeing the history of the place.

Promotion:- this the most perfect method with which you can know the interest of the people and their reactions towards the product that si being introduced. The most important thing is the promotion of the product in right way so that it may not give wrong meaning to the people outside in the market. Madame Tussaud  use different kind methods of promotion of the product like advertisements, use of social media, interaction with the people directly, by sponsoring the brands and etc. which attract the eye of the customer and this further brings the better outcome for the future of the company.

So these are the four P’s which always being the part of the staff strategies to boostn the business to the next level and generate Huge amount of revenue for the development of the museum (Weinstein, 2015).

PEST analysis for Madame Tussauds:- The people who are working with the organization need to do PEST analysis. The full form of PEST is given by the important section are needed to be analyzed at every step it include politics, economy, social and technology.

Politics:- Madame tussauds is engaged with the politics at every level. This is due to the reason that it the world renowned place and it is the connect with every government rule and regulation, the employment laws, the entertainment laws and many other with make it attached to the system politically (Goldsby, 2015).

Economy:- from the economic aspect the staff of the merlin group so active and due to their efforts upto now around 500 million people have visited this place till the time it has set 250 years back. It is thing of high privilege that it is still doing the same as it was before and each figure costed by the people of Madame Tussaud is around $125000. That means the team which is involved in the group is highly responsible and the managers are highly skilled to maintain that international level economically.

PEST analysis for Madame Tussauds

Social:- The staff of the Madame Tussaut high attached socially with the people. As it is the most favorable tourist attraction of the world. And is highly renowned because of its 200 years old wax sculptor legacy. It has every section that helps in entertaining the people at vast level. The social handling of the people is done with help of the internet, using of the social websites, interacting with the people personally. The team Madame tussaut consists of 1300 employees and the managers who are managing them to give their best and with social responsibility.

Technology:- with the change of the time and technology, the usage of the advancement of the technology to make the place a perfect junction of the world’s best things at one place. To bring the improvement in the wax work of the sculptors the use of the latest technology gives the better outcome of the hard work done. So Merlin group staff always prefers to use the latest technology in the work (Goldsby, 2015).

These are the important PEST analysis done by the staff members to make the perfect strategy to work with and use the right skills at the right time make them the world leaders in the wax sculptor making sector.

SWOT analysis:- The SWOT analysis is done by the staff to check the strengths and weaknesses of the staff, to get the performance of the employee at every stage of work that is being conducted. This brings the quality assurance to the people who are the loving people of Madame Tussauds. The word SWOT actually means strength, weaknesses, opportunities and threats. This section will tell what are the basic strengths of the group that will lead it in the beneficial way and which section is the weakest that means with the analysis of these factors the staff will know who is performing well and which one is weak. With this Madame Tussaud make use of the opportunities to growth and achieving the organization objective in a better way. This gives the opportunity to explore into the new market and getting the business and increase the revenue of the government (Agrawal, 2015), January With this there is also inclusion of the threats that can be internal of external which can affect the group in a bad manner. So there is always need to take the precautionary action and get prepared to face these find of situations. With the use of intelligence the overcoming techniques will be found by the help of the staff.

So these all above are the staff strategies and procedure to the customer care. These factors increase the responsibility of every employee that is working with the organization.

According to the visitor attraction assurance scheme it is said the promotion should be done in accordance with the timings when the people visit the places at the most and promotion should be done by setting the time of visit between those highly engaged timings of the people. There should set period of the years in which the visitors can visit the place.

But as we talk about the Madame Tussaud, it violates every quality assurance scheme. Because it is the place which is never empty, from the perspective of the visitors. If there is no international engagement of the visitors then there is a queue of the local residents to visit the place. This is due to the reason why that Madame Tussaud is the second most likable place in the world after Disney. There is always the engagement of people to see the wax world of the celebrities of the world and see them at the closest.

Conclusion

In concluding all the above facts about the Madame Tussaud, I came to the conclusion that being against the quality assurance schemes, it don’t means that Madame Tussaud is not following the rules of the system. This happens due to its high level demand as a visitor attraction spot of the world. It is the second after the Disney which are highly renowned throughout the world ( Agrawal, 2015). The best efforts and planning of the staff that is working with the group make the things more better as before by using the latest technologies of lights  and the wax that is being used by the artist in making the sculptures of the celebrities. They are carrying the legacy of 200 years of the place in much better way which results in 500 million visitors that visit the place from different section, countries and races of the world, which is the thing of high privilege.

References

Pest Analysis For Madame Tussauds Marketing Essay, Madame Tussaud

List of rule and regulation of the Madame Tussaud for the visitors.

Royal places in the Madame tussauds, the main attraction place, London

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