PESTEL model of the London Transport Market:
Political: Transport for London (TFL) is an executive agency of GLA the top-tier administrative body and controls the majority of public transport in London (the Underground, buses, tramlink, the Docklands Light Railway, and rail services. TfL also controls most major roads in London. Economic: The government provides financial assistance to support environmental and sustainable projects. They are also lot of investments for ameliorate the transports because of the next Olympic Games in 2012. Social: According to LTDS household survey, more the gross annual household income is high, more the main mode of transports each day is private (taxis or car driver). The age range that use transportations more times each day is 25-44 and there are also as many man as woman who are used to make trips in London each day. Technological: The majority of the transports, like the tramlink, the underground or buses are very reliable. According to the TFL Planning, over 98% of scheduled transport took place. From year to year, investments on the research and development are increasing, particularly because of the willingness to make transport more sustainable and more reliable.
Environmental: One of the main goals of TFL is to reduce the impact of transport operations on the environment, in example by promoting sustainable travel, running vehicles more efficiently and using greener vehicles and fuels. Legal: They are not a lot of competitor because market is very regulated by TFL, in example: all London taxicabs are licensed by TfL's Public Carriage Office.
Please join StudyMode to read the full document