Mr Price Clothing
Task- To research on every aspect of Mr Price Clothing and all the issues regarding them in order to get a better understanding of how a business operates and everything that affects and is affected by the business. This must be done by analysing the challenges the business faces in the micro, macro and market environment by making use of SWOT analysis, PESTLE and Porters 5 Forces Model.
Background- The first Mr Price Clothing store was opened in 1987 and was the first of the Mr Price departments with Laurie Chiappini and Stewart Cohen, together with BOE, owning a major shareholding in John Orr Holdings. Since then it has grown rapidly. In 2008 Mr Price Clothing was voted the most loved and most frequented retail apparel brand …show more content…
This increases the target market of Mr Price so all different types of people can purchase from them for whatever types of clothing they desire which would then increase the amount of profit they can make.
• Great number of stores around South Africa- Mr Price Clothing has stores in nearly every area around South Africa making it easily reachable to customers no matter where you live.
• Sustainable and socially responsible- Mr Price promotes ethical practices in their supply chain and they started the Mr Price foundation where they donate 1% of their net profit to the community. This increases confidence and respect stakeholders have in them making more customers want to support them by purchasing clothes from them or by investing in them.
Weaknesses- aspects that detract from the value offered and place the business at a competitive disadvantage.
• Bad quality of clothing material- The quality of clothing from Mr Price is quite poor. They clothing fades, rips or deforms very quickly in comparison to other well-known clothing stores. This then makes people who can afford more expensive clothing not to purchase from Mr Price because they would rather purchase better quality …show more content…
This can affect Mr Price greatly and management needs to watch this carefully. If inflation rates go up for example then Mr Price would have to then increase the price of their clothing in order to account for this. This may leave many customers unhappy because of the increased prices. If exchange rates go up then the price at which they import their clothing will go up and they would also have to increase their prices which will have the same affect. Certain aspects that have greatly affected Mr Price in the past are business interruption caused by load shedding and a weak currency, which increased the landed cost of imported merchandise for all
Task- To research on every aspect of Mr Price Clothing and all the issues regarding them in order to get a better understanding of how a business operates and everything that affects and is affected by the business. This must be done by analysing the challenges the business faces in the micro, macro and market environment by making use of SWOT analysis, PESTLE and Porters 5 Forces Model.
Background- The first Mr Price Clothing store was opened in 1987 and was the first of the Mr Price departments with Laurie Chiappini and Stewart Cohen, together with BOE, owning a major shareholding in John Orr Holdings. Since then it has grown rapidly. In 2008 Mr Price Clothing was voted the most loved and most frequented retail apparel brand …show more content…
This increases the target market of Mr Price so all different types of people can purchase from them for whatever types of clothing they desire which would then increase the amount of profit they can make.
• Great number of stores around South Africa- Mr Price Clothing has stores in nearly every area around South Africa making it easily reachable to customers no matter where you live.
• Sustainable and socially responsible- Mr Price promotes ethical practices in their supply chain and they started the Mr Price foundation where they donate 1% of their net profit to the community. This increases confidence and respect stakeholders have in them making more customers want to support them by purchasing clothes from them or by investing in them.
Weaknesses- aspects that detract from the value offered and place the business at a competitive disadvantage.
• Bad quality of clothing material- The quality of clothing from Mr Price is quite poor. They clothing fades, rips or deforms very quickly in comparison to other well-known clothing stores. This then makes people who can afford more expensive clothing not to purchase from Mr Price because they would rather purchase better quality …show more content…
This can affect Mr Price greatly and management needs to watch this carefully. If inflation rates go up for example then Mr Price would have to then increase the price of their clothing in order to account for this. This may leave many customers unhappy because of the increased prices. If exchange rates go up then the price at which they import their clothing will go up and they would also have to increase their prices which will have the same affect. Certain aspects that have greatly affected Mr Price in the past are business interruption caused by load shedding and a weak currency, which increased the landed cost of imported merchandise for all