Mr S. SWOT Analysis: Mr Price
MR PRICE APAREL SWOT ANALYSIS STRENGTHS
• Mr Price ensues keeping up to date with the latest clothing fashion trends therefor customers will want to buy from the Mr Price stores whilst following the latest fashions.
• The Mr Price stores are found country wide and there for are easily accessible for all people. And are mostly found in busy shopping locations.
• Mr Price has now released their more upper class type clothing which are slightly higher priced which is then potential drawing in the higher class customers.
• Mr Price has created many non-profitable organisations such as the mrp foundation which helps build a better future for the younger generation. This helps give people a good image of Mr price and will draw in customers as well …show more content…
PORTERS FIVE FORCES
In a business as large as Mr Price or any other business for that matter, should always keep up-to-date in checking up the attractiveness of the market they are working in o ensure they always stay on top.
Rivalry amongst current competitors
All businesses face the threat of competitors fighting for the same target market. In this case Mr Price apparel faces many competitors in their division competing against other business with the same goal of providing affordable yet fashionable clothing. Some of these competitors include Jay Jays, Pick ‘n Pay and Edgars. Consumers are more likely to be drawn to the most fashionable and affordable products and therefor it is important that Mr Price go out and find out what the public wants and keep their trends changing as the fashion changes and put the business above the competitors in terms of what the business provides to the public. Mr Price must also ensure they keep their customer loyalty by ensuring that they do not disappoint. Mr Price could think about ways in which they can improve their quality without drastically increasing the Price.
Threat of new entrants to the …show more content…
They could face the crisis of having a factory or store destroyed due to protests which puts a hold on their production and will cost money to repair.
Often political and economic factors overlap for example if the government makes controversial decisions (the firing of finance Mr Nene and replacing him with someone with no experience) it impacts on South Africa in the international community. The rand will weaken and international investors will diminish. This can negatively impact on Mr Price and again highlight the need for it to engage with government as mentioned later on in economic factors.
Physical factors:
Location is a make or break for a business. If a business is placed in an environment where it is not relatable to the target market it could cause the business to shut down. Weather issues is also an issue and can cause hue damage on the business physically and
• Mr Price ensues keeping up to date with the latest clothing fashion trends therefor customers will want to buy from the Mr Price stores whilst following the latest fashions.
• The Mr Price stores are found country wide and there for are easily accessible for all people. And are mostly found in busy shopping locations.
• Mr Price has now released their more upper class type clothing which are slightly higher priced which is then potential drawing in the higher class customers.
• Mr Price has created many non-profitable organisations such as the mrp foundation which helps build a better future for the younger generation. This helps give people a good image of Mr price and will draw in customers as well …show more content…
PORTERS FIVE FORCES
In a business as large as Mr Price or any other business for that matter, should always keep up-to-date in checking up the attractiveness of the market they are working in o ensure they always stay on top.
Rivalry amongst current competitors
All businesses face the threat of competitors fighting for the same target market. In this case Mr Price apparel faces many competitors in their division competing against other business with the same goal of providing affordable yet fashionable clothing. Some of these competitors include Jay Jays, Pick ‘n Pay and Edgars. Consumers are more likely to be drawn to the most fashionable and affordable products and therefor it is important that Mr Price go out and find out what the public wants and keep their trends changing as the fashion changes and put the business above the competitors in terms of what the business provides to the public. Mr Price must also ensure they keep their customer loyalty by ensuring that they do not disappoint. Mr Price could think about ways in which they can improve their quality without drastically increasing the Price.
Threat of new entrants to the …show more content…
They could face the crisis of having a factory or store destroyed due to protests which puts a hold on their production and will cost money to repair.
Often political and economic factors overlap for example if the government makes controversial decisions (the firing of finance Mr Nene and replacing him with someone with no experience) it impacts on South Africa in the international community. The rand will weaken and international investors will diminish. This can negatively impact on Mr Price and again highlight the need for it to engage with government as mentioned later on in economic factors.
Physical factors:
Location is a make or break for a business. If a business is placed in an environment where it is not relatable to the target market it could cause the business to shut down. Weather issues is also an issue and can cause hue damage on the business physically and