. Each company offers similar services, including event planning, catering, transportation, equipment rental, and audio-visual production. At present clients engage different companies for specific services, creating a balanced distribution of business across the market.However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer the convenience and efficiency of working with a single provider that can offer a comprehensive package of services. This has led to a significant decline in business for some companies that are unable to offer the full suite of services on their own. Some of the challenged faces by the companies include limited service offerings, client convenience where clients prefer working with a single vendor to simplify communication, reduce costs, and ensure seamless service delivery, as well as market saturation. With all four companies competing for the same client base, the market has become oversaturated, leaving some businesses without any opportunities. Apply PESTEL external environmental assessment tool, as discussed in the course, to evaluate the opportunities and threats posed by the macro-environment in St. Lucia that impact their ability to succeed in the market
. Each company offers similar services, including event planning, catering,
transportation, equipment rental, and audio-visual production. At present clients engage different
companies for specific services, creating a balanced distribution of business across the market.
However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer the
convenience and efficiency of working with a single provider that can offer a comprehensive
package of services. This has led to a significant decline in business for some companies that are
unable to offer the full suite of services on their own. Some of the challenged faces by the
companies include limited service offerings, client convenience where clients prefer working with
a single vendor to simplify communication, reduce costs, and ensure seamless service delivery, as
well as market saturation. With all four companies competing for the same client base, the market
has become oversaturated, leaving some businesses without any opportunities.
Apply PESTEL external environmental assessment tool, as discussed in the course, to
evaluate the opportunities and threats posed by the macro-environment in St. Lucia that
impact their ability to succeed in the market
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