Explore The Millenium

           

Details                                                                                                                                                                                       Explore the magnificent Millennium Stadium one of the most impressive icons of modern Wales. Join any of our experienced tour guides and visit highlights such as the Press Conference Suite, and an official VIP hospitality suite. Discover the 2012 Olympic football dressing room and experience the atmosphere before a match in the Dragon’s Lair, Wales’ rugby team dressing room. Hear the roar of 74,500 fans as you walk down the players’ tunnel towards the hallowed turf, and lift the trophy to the skies like a sports star in the President’s Box, an area normally reserved for royalty.

(Visit Cardiff, http://www.visitcardiff.com/things-to-do/millennium-stadium-p10931)

Target Markets

  • Marketed Towards Children
  • Marketed Towards Families – Everybody is welcome.
  • Marketed Towards Senior Citizens
  • Marketed Towards Students
  • Tourists – Iconic Feature to Cardiff, a pinnacle point to modern Wales.

 

 

Provided Facilities

  • Conference facilities
  • Merchandise shop
  • Food and drink purchases
  • Events Venue

(Visit Cardiff, http://www.visitcardiff.com/things-to-do/millennium-stadium-p10931)

Events held at the Millennium

  • Rugby – RBS 6 Nations, Amlin Challenge Cup, Heineken Cup, World Cup and Judgement Day
  • Football – F.A. Cup, Championship, League 1 and 2 Playoffs and Olympic Games.
  • Music – Live Gigs from World re-known Artists, such as Kasabian, Oasis, U2, Bruce Springsteen, Rihanna and Madonna.
  • Other Sports – SGP- Motor Sport

(Millennium Stadium, http://www.millenniumstadium.com/events/index.php)

Conferences at the Millennium Stadium                                                                                                                        With its six lounges and wide variety of rooms the Millennium Stadium is the perfect place to host your event in Cardiff. Letheby & Christopher can cater for a breakfast meeting for ten delegates to an exhibition and conference for your entire workforce. They can also provide a unique setting for banquets, product launches, graduation balls, Christmas parties, weddings, and events of all types.

The 124 Executive Suites which overlook the pitch are ideal for holding smaller meetings or using as ideally placed offices and breakout facilities when conferences are in residence. These diverse rooms are also available for private dinners and receptions with a view to rival any restaurant in the world!

We offer an extremely competitive selection of Day Delegate Rates starting at £35 plus VAT per delegate and a range and variety of menus as diverse and imaginative as you would expect from the National Stadium of Wales.

(Millennium Stadium, http://origin.millenniumstadium.com/cb/index.php)

                                                              

TOWS Matrix and SWOT Analysis

TOWS Matrix and SWOT Analysis

Threats

Opportunities

 

Regular Structural Tests will allow for us to keep an eye on the foundations of the Stadium. The British Climate can wear down the structural foundations of the Stadium, the weakness here is the Environmental Ware and tear and the threat is the British Climate.

 

Improving and Increasing the amount of advertising, for the behind the pitch events such as, the Wedding Reception Facilities and Conference Halls.

The weakness is the lack of advertising and the threat is other Conference Halls and Wedding Receptions.

 

Recession/Unemployment

It is now harder for the Stadium to sell expensive tickets, due to the target market are feeling the pinch.

Weakness not compromising on the price of tickets and the threat is the lack of people able to attend the stadium.

Allowing the media to advertise the stadium more frequently across Wales and the surrounding Cities, will interest the customers, however Media coverage can have an adverse effect on the Stadium, by stopping the spectators to watch games and events on the TV.  The opportunity is the idea of more media coverage bringing in more revenue, and the weakness will be the fall in crowds because of the TV.

 

Compromising on the Ticket Prices by setting up Package deals can help with the competition from Wembley, Murrayfield and the O2 Arena. The opportunity is the chance to promote themselves as an affordable venue to persuade spectators to choose them and the weakness is the recession and unemployment status.

 

Due to the location of the Millennium Stadium is restricted to Car Parking, however to combat this, the possible idea of a ‘Park and Ride’ system to be in place would benefit the Stadium greatly.

The opportunity is the chance to build a Park and Ride Centre on the outskirts of the city, and the weakness to the stadium is the unreasonable Parking for the Stadium.

Weaknesses

The Retractable Roof allows for the Millennium Stadium to continue its functions with any weather conditions faced. This gives it the edge over the other big competitors, Wembley, The Emirates and Murrayfield, that don’t have the roof. The Air Conditioning unit allows for a more comfortable environment.

The Strength here is the Air Conditioning Unit and Retractable Roof, and the Threat is the competition if they decide to invest in a retractable roof.

 

The viewing at Stadiums can sometimes be restricted by Structural objects, however the Millennium Stadium prides itself on allowing for a unique viewing experience, every seat in the Stadium is not impeded, unlike the other stadiums.

Strength here is the unique viewing and the threat is the competition.

 

As a major focal point in Wales, it can be seen to attract a variety of events, not just Rugby. With the likes of other sports, Motor Cross, Live Gigs and Monster Truck Stunt Rallies.

The Strength here is its willingness to diverse to bring in the crowd along with it being such an iconic building in Wales. The threat here would be the other stadiums starting to diverse.

 

Social Networking is a key strength here too. The Millennium Stadium allows for everyone to get coverage, whereas, The O2 Arena, The Emirates and Twickenham are all O2 hubs, and only allow for O2 users to receive network coverage. Dampening the experience of the viewing to those not on O2.

 

 

The strength here is it allows for the spectator to still interact with the outside world, check other vital scores. A threat to the Millennium Stadium in this respect would be the idea that other networking companies would try to make the Millennium Stadium an individual network hub.

 

Having the Retractable Roof allows for the opportunity to appeal to the wider audience over the other Stadiums, it offers the chance to stay dry during wet conditions, it stops the cold chill winds hitting the spectators.

The Strength here is it allows for the events to carry on even in terrible conditions, and the opportunity is the fact that it can advertise these conditions to the spectators.

 

No bad seating at the Millennium Stadium allows for the Stadium to advertise the unique viewing experience, giving it that edge over the other competitors.

The strength is the seating and its unique viewing experience and the opportunity is it allows for the Stadium to advertise this over the stadiums in conjunction for the services of the events. 

 

The turf of the Millennium Stadium is also removable.  The stadium therefore can offer other events, such as Motor Cross and Monster Truck Stunt Rallies. The turf at the other stadiums can’t be removed.

The Strength here is the removable turf, allowing for the opportunity for the adaptability of the Stadium, to bring in even further revenue.

 

The Millennium Stadium has great transport links however, has awful Car Park Facilities. To tackle this, the Millennium Stadium could invest in an out of City ‘Park and Ride.’ This will be beneficial to those commuting to Cardiff by car. They could also do deals with the Transport companies to try and making the commute cheaper for everyone.

 

 

 

 

The Strength here is the accessibility to the Stadium by Public Transport, however, the opportunity to tackle the Car Parking issue is the ‘Park and Ride’ scheme and the chance to ask for deals with the Transport Companies.

 

With so many different spectators visiting the Millennium Stadium every year it is impossible for the Stadium to offer Season Tickets, so in order to combat this, the Stadium could in fact offer out Priority Tickets to those who sign up as a member to the Stadium, but only buy tickets for the events they want.  This way it allows for Membership Fees (extra Revenue) and the chance for regular visitors to get seats first.

Strength is the many spectators and the opportunity is the idea of Membership and Priority Seats.

 

Strengths

 

Critical Success Factors

The TOWS matrix helps identify Millennium Stadium’s Critical Success Factors (CSF). These factors represent those managerial or enterprise area, that must be given special and continual attention to bring about high performance. CSFs include issues vital to the Stadium’s current operating activities and to its future success.

The Millennium Stadium’s top CSFs are as follows:

  1. The Structure of the Building: the retractable roof, the seating, the removable grass and the stadium’s boxes which can be rented out. All this offers for a unique experience.
  2. Surrounding Infrastructure: improve the customer journey by providing a park and ride system and fan parks.
  3. Variety of Sports on Show: Football, Rugby League, Rugby Union, Motor Sports, Eventing, Boxing and Music Concerts. This allows for a wide range of viewing and allows for the stadium to offer promotions on the different sports.
  4. Merchandising: the sale of Wales Rugby Merchandise, food and drinks. 

TOWS Matrix and SWOT Analysis Explained

TOWS Matrix and SWOT Analysis

TOWS Matrix:

 

External Opportunities
(O)

1.
2.
3.
4.

External Threats
(T)

1.
2.
3.
4.

Internal Strengths
(S)

1.
2.
3.
4.

SO
“Maxi-Maxi” Strategy

Strategies that use strengths to maximize opportunities.

ST
“Maxi-Mini” Strategy

Strategies that use strengths to minimize threats.

Internal Weaknesses (W)
1.
2.
3.
4.

WO
“Mini-Maxi” Strategy
Strategies that minimize weaknesses by taking advantage of opportunities.

WT
“Mini-Mini” Strategy

Strategies that minimize weaknesses and avoid threats.

This helps you identify strategic alternatives that address the following additional questions:

  • Strengths and Opportunities (SO) – How can you use your strengths to take advantage of the opportunities?
  • Strengths and Threats (ST) – How can you take advantage of your strengths to avoid real and potential threats?
  • Weaknesses and Opportunities (WO) – How can you use your opportunities to overcome the weaknesses you are experiencing?
  • Weaknesses and Threats (WT) – How can you minimize your weaknesses and avoid threats?
  • These questions help find Critical Success Factors (CSFs)

 

(http://www.alumnitsi.net/en/ihm/214-the-tows-matrix)

 

SWOT Analysis:

A process generates information that is helpful in matching an organization or group’s goals, programs, and capacities to the social environment in which it operates. 

SWOT Analysis – Strengths

  • Positive tangible and intangible attributes, internal to an organization.
  • They are within the organization’s control.

SWOT Analysis -Weakness

  • Factors that are within an organization’s control that detracts from its ability to attain the desired goal.
  • Which areas might the organization improve?

SWOT Analysis -Opportunities

  • External attractive factors that represent the reason for an organization to exist and develop.
  • What opportunities exist in the environment, which will propel the organization?
    Identify them by their “time frames”

 

(http://rapidbi.com/swotanalysis)

Macro Environmental Factors

Macro environmental factors:

The macro environmental factors are considering everything that can affect the millennium stadium outside of its walls in the external environment. This can also have consequences on the everyday running of the stadium and is a big influence on current strategies and objectives

 

  • Technology- Very rapidly changing in the external environment so have to keep updating and also training people to use equipment- may prove to be very costly. For example goal line technology and the new ref cam. Also need to keep up with competitors. The millennium stadium has a unique closing and opening roof system that helps to differentiate them from the competition.
  • Economic- Relates to the economy at this moment in time, High unemployment rates mean that people have less disposable income and therefore may not want to be buying expensive tickets and also paying for travel to get to the stadium, may cause ticket prices to lower and profits to be smaller. However may make recruiting people for jobs an easier process. This may also cause more advertising and promotions.
  • Natural forces- The wind and the rain may have an effect on the retractable roof, causing wear and tear, this may mean that maintenance cists increase during certain months of the year.  Also the quality of the grass, they have to ensure that enough sunlight reaches it so that they can attract people to hold more events there.
  • Cultural forces- The lifestyle of the people living in the surrounding areas will have a big effect on the amount of spectators and foot fall. Quite a sporting and community area will encourage more people to come and support at games and socialise.
  • Demographic forces- The access to the millennium stadium is very good as it allows for lots of people to travel via public transport as there are bus stations and also train stations very nearby. This may encourage more people to come as the customer journey will be less stressful.
  • Political factors- They will have to ensure that they keep up to date with health and safety laws and regulations, also legislations put in place. For example no smoking or smoking areas put in place and to ensure that people are informed of this.

These external factors are also very influential to the business and can have an effect on the stagey of the stadium. This ensures that research and development are reviewed on a regular basis reducing the risk of the business and ensuring that they are a success.

Micro Environmental Factors

Micro environmental factors:

 

The Millennium stadium has many micro environmental factors influencing it every day. These are to do with the internal aspects of the millennium stadium as a business highlighting both the positives and the negative aspects that they may have to overcome.

  • The company- This relates to the everyday running of the business and the sustainability. Money will need to be reinvested for future projects such as the expansion of the stadium, to cope with more customers and help to increase the amount of profits made. Also about attracting investors and making the stadium appealing to the customer and differentiation from the competition.
  • Suppliers- This is a major aspect in the money making process of the millennium stadium because research shows that the main profit making aspect of the business is to do with the catering side. Profits made on food and drink alone is huge. They need to adopt the economies of scale process in order to maximise profits and keep prices down so that they are able to make the most of their money.
  • Marketing intermediaries- This is to do with the advertising and showing people what the millennium stadium has to offer and benefit them. It will benefit the millennium stadium if they have lots of good quality intermediaries as they want lots of positive links, such as the RFU as this is a huge marketing base. Promotions will also play a big part in attracting people in, as the current economic climate is showing that consumer spending is low however promotions may help to increase spectator numbers to events.
  • Customers- This is all about the customer journey from the travelling to the stadium to the journey home from the stadium. They want to be offering a unique experience to customers and good customer service is of paramount importance. Accessibility and infrastructure around the stadium is also a benefit t to the millennium stadium as they have a vast amount of parking and also public transport in the surrounding area.
  • Competitors- Wembley, O2 arena. They need to differentiate from their competitors, such as the vast variety of sports played there from rugby to equestrian that these other stadiums may not offer. May be quite expensive to compete to hold certain sporting events.

All of these factors result in huge amounts of planning and reviewing of strategies for the development of the millennium stadium and they can change on a regular basis due to the macro environmental factors. They are aiming to invest money in the most sustainable way in order to attract the most spectators and also utilise the facilities to their maximum potential. 

Macro and Micro Environments

Macro & Micro Factors Effecting Sports Venue

Definitions

Microenvironment

 

Factors or elements in an organization’s immediate area of operations that affect its performance and decision-making freedom. These factors include competitors, customers, distribution channels, suppliers, and the general public.

(Business Dictionary, 2014)

Macro environment

1. The major external and uncontrollable factors that influence an organization’s decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces.

2. Specific examples of macro environment influences include competitors, changes in interest rates, changes in cultural tastes, disastrous weather, or government regulations.

 (Business Dictionary, 2014)

Within Blog 3 we will include in depth detail of the Macro & Micro Environmental Factors directly affecting both our chosen sector, and the Millennium Stadium itself.