Stewart Cohen and Laurie Chiappini founded Mr. Price in 1985. They had the aim of providing a factory shop, which sells quality merchandise at substantially low prices compared to other factory shops at the time. The company I’ve chosen to do is Mr. Price Clothing, which fits into the greater structure of Mr. Price as the company began retailing clothing before expanding in home appliances and sportswear. Their main form of advertisement is also Clothing and have received R8.6 billion in sales- the highest sales performance between the departments. Mr. Price Clothing also has the widest distribution and amount of stores, sitting at 404 stores around Africa which is more than double the amount of stores compared to Mr. Price sport, which has
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PRICE APPAREL
The SWOT Analysis is a strategy used to perform an environmental scan. It involves looking at the internal and external environment of the business in order to identify possible strengths and weaknesses as well as opportunities and threats that can hinder or improve a businesses success.
Mr Price Clothing’s Strengths include:
1. Providing Locally made clothing- in 2011, Mr. Price began aiding a KZN footwear manufacturing company. A loan was offered that helped the supplier to significantly grow business capacity and capability and deliver on the requirement for increased fashion flexibility (quick response) and a leaner value chain. With this local aid, the manufacturer of the footwear has already doubled sales growth and significantly improved delivery ratios. Since this collaboration occurred, Mr. Price Clothing noticed a need for improved skills in the footwear industry and have thus established a ‘Footwear School of Excellence’ which has already trained 57 students for a career in …show more content…
It’s success rests in the fact that it takes a holistic view of the industry in which a business operates instead of looking at each piece in isolation. Porter’s Five Forces Model looks at the level of rivalry in the market, the availability of substitute products, the threat of new entrants that may join the marker, the power of the suppliers and the power of buyers or customers. These five points show the threat of external factors in the market environment, which are incontrollable by Mr. Price Clothing but can be
PRICE APPAREL
The SWOT Analysis is a strategy used to perform an environmental scan. It involves looking at the internal and external environment of the business in order to identify possible strengths and weaknesses as well as opportunities and threats that can hinder or improve a businesses success.
Mr Price Clothing’s Strengths include:
1. Providing Locally made clothing- in 2011, Mr. Price began aiding a KZN footwear manufacturing company. A loan was offered that helped the supplier to significantly grow business capacity and capability and deliver on the requirement for increased fashion flexibility (quick response) and a leaner value chain. With this local aid, the manufacturer of the footwear has already doubled sales growth and significantly improved delivery ratios. Since this collaboration occurred, Mr. Price Clothing noticed a need for improved skills in the footwear industry and have thus established a ‘Footwear School of Excellence’ which has already trained 57 students for a career in …show more content…
It’s success rests in the fact that it takes a holistic view of the industry in which a business operates instead of looking at each piece in isolation. Porter’s Five Forces Model looks at the level of rivalry in the market, the availability of substitute products, the threat of new entrants that may join the marker, the power of the suppliers and the power of buyers or customers. These five points show the threat of external factors in the market environment, which are incontrollable by Mr. Price Clothing but can be