Mackenzie Firby’s Two-Fifty-Two Boutique is a women retail store with the value proposition: carrying high quality designer names from all over the world that consumers cannot find anywhere else in Saskatoon and selling them from mid to high prices. Like all businesses, this boutique too has its own strengths, weaknesses, opportunities, and threats. The strengths of the business include convenient location for primary target market, high quality products, striving to provide exceptional customer service, and providing customers with different experiences not offered by competitors such as Aritzia. The primary target market for the boutique is professional women from 30-60. These women most likely have extremely busy lives and would prefer a
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The boutique service also includes things such as alterations and pick ups and drop offs. These services are not offered in stores such as Aritzia. This is a strength because the boutique has made itself adjustable to the needs of its consumers guaranteeing customer satisfaction. The weaknesses of the boutique include factors such as the price range of the store, the location, weak online interacting with customers. Setting it’s primary market as professional women who earn, Tow-fifty-Two boutique misses a large potential market in people such as university students. Having only high end brands advertised sends a message to some, such as students, that the boutique is too expensive thus not worth going to. If the store also advertised lower end products, it may grab the attention of a different market attracting them to the boutique. The location of the store is also a weakness because it is not in a high activity place such as downtown. Customers may find it more convenient going to an area where there is multiple stores they can visit at once (e.g. in a mall) than drive to independent …show more content…
Opportunities for the boutique are things such as including men’s clothing, expanding the target market, and increasing the use of technology in the business. Competitor’s business such as Manhattans casuals has clothing for men and women. Adding men’s clothing would also expand the target market. Increasing the use of technology in the business can become a huge advantage in todays time. Technology allows for the fast sharing and interacting with consumers. Tools such as apps can allow for price comparisons and reviews of products, both of which help consumers in the buying process. As a small local boutique there are multiple threats. Stores such as Forever 21 and H&M are major threats for the boutique. They offer clothes in trend at affordable rates. Their stores also include both men and women of all ages and sizes. Local threats include stores such as Manhattan casuals, Era style loft, and Aritzia who also sell high quality brands. Another threat for the boutique includes the economic environment. The retail sales in Saskatchewan have increased by 65% since 2006. Alone there were 371 businesses licenced in the first three months of 2017. This
The boutique service also includes things such as alterations and pick ups and drop offs. These services are not offered in stores such as Aritzia. This is a strength because the boutique has made itself adjustable to the needs of its consumers guaranteeing customer satisfaction. The weaknesses of the boutique include factors such as the price range of the store, the location, weak online interacting with customers. Setting it’s primary market as professional women who earn, Tow-fifty-Two boutique misses a large potential market in people such as university students. Having only high end brands advertised sends a message to some, such as students, that the boutique is too expensive thus not worth going to. If the store also advertised lower end products, it may grab the attention of a different market attracting them to the boutique. The location of the store is also a weakness because it is not in a high activity place such as downtown. Customers may find it more convenient going to an area where there is multiple stores they can visit at once (e.g. in a mall) than drive to independent …show more content…
Opportunities for the boutique are things such as including men’s clothing, expanding the target market, and increasing the use of technology in the business. Competitor’s business such as Manhattans casuals has clothing for men and women. Adding men’s clothing would also expand the target market. Increasing the use of technology in the business can become a huge advantage in todays time. Technology allows for the fast sharing and interacting with consumers. Tools such as apps can allow for price comparisons and reviews of products, both of which help consumers in the buying process. As a small local boutique there are multiple threats. Stores such as Forever 21 and H&M are major threats for the boutique. They offer clothes in trend at affordable rates. Their stores also include both men and women of all ages and sizes. Local threats include stores such as Manhattan casuals, Era style loft, and Aritzia who also sell high quality brands. Another threat for the boutique includes the economic environment. The retail sales in Saskatchewan have increased by 65% since 2006. Alone there were 371 businesses licenced in the first three months of 2017. This