Executive Summary
This is a research project based on one of Mr Price's divisions, Mr Price Sport. It was done in order to analyse Mr Price's different business business environments, to identify problems and to give solutions.
Market research was done, in the form of surveys that were completed by different and randomly chosen customers. This was done to gather information on the customers' needs and preferences. By knowing what your customers expect from you and want from you, MRP can adjust and improve in order to satisfy its customers and attract more.
A PESTLE analysis is a vital tool for a business as it helps the company identify, understand and analyse the numerous factors that determine and affect the environment of that organisation. …show more content…
Due to their reputation of selling affordable items, a lot of people prefer it rather than other sports department stores that are more expensive and not very accessible. In addition there are MRP Sport stores across the country and in almost every big shopping centre. They are very easy find.
It has fashionable and trendy items from different fashion lines. MRP Sport complies with its customers' wide demographics. They have products fro all different ages, sexes, tastes, etc. They offer a huge variety of products. They also offer online shopping facilities, which attracts customers because they don't have to actually go tot he store, they can shop from the comfort of their home and have the items delivered to them.
Moreover, they have opened stores overseas which places them in the international market.
Weaknesses:
MRP Sport imports its merchandise from China. This damages the national economy because there is no internal circulation of money between MRP and their suppliers. This does not support local businesses and it weakens the economy. In addition the rand is weak and it costs MRP more money to import their …show more content…
e.g. hockey stick should be wrapped in bubble wrap to ensure that it does not break during transportation
The quality of the products has to be updated and improved as soon as possible market research should be done frequently to ensure that the customers are satisfied and to identify and fix any problems
If MRP stops importing from China and starts supporting local suppliers it will earn more and therefore they can pay their debt faster
The only way to keep up with their customers' lifestyle changes by frequently doing market research
MRP needs to update their technology. The machinery used in the production process should be updated and also the technology used in the stores to make the purchasing process more efficient and more pleasant for the customers
It is vital for MRP to be BEE and other law compliant in order to get government tenders to improve their public
This is a research project based on one of Mr Price's divisions, Mr Price Sport. It was done in order to analyse Mr Price's different business business environments, to identify problems and to give solutions.
Market research was done, in the form of surveys that were completed by different and randomly chosen customers. This was done to gather information on the customers' needs and preferences. By knowing what your customers expect from you and want from you, MRP can adjust and improve in order to satisfy its customers and attract more.
A PESTLE analysis is a vital tool for a business as it helps the company identify, understand and analyse the numerous factors that determine and affect the environment of that organisation. …show more content…
Due to their reputation of selling affordable items, a lot of people prefer it rather than other sports department stores that are more expensive and not very accessible. In addition there are MRP Sport stores across the country and in almost every big shopping centre. They are very easy find.
It has fashionable and trendy items from different fashion lines. MRP Sport complies with its customers' wide demographics. They have products fro all different ages, sexes, tastes, etc. They offer a huge variety of products. They also offer online shopping facilities, which attracts customers because they don't have to actually go tot he store, they can shop from the comfort of their home and have the items delivered to them.
Moreover, they have opened stores overseas which places them in the international market.
Weaknesses:
MRP Sport imports its merchandise from China. This damages the national economy because there is no internal circulation of money between MRP and their suppliers. This does not support local businesses and it weakens the economy. In addition the rand is weak and it costs MRP more money to import their …show more content…
e.g. hockey stick should be wrapped in bubble wrap to ensure that it does not break during transportation
The quality of the products has to be updated and improved as soon as possible market research should be done frequently to ensure that the customers are satisfied and to identify and fix any problems
If MRP stops importing from China and starts supporting local suppliers it will earn more and therefore they can pay their debt faster
The only way to keep up with their customers' lifestyle changes by frequently doing market research
MRP needs to update their technology. The machinery used in the production process should be updated and also the technology used in the stores to make the purchasing process more efficient and more pleasant for the customers
It is vital for MRP to be BEE and other law compliant in order to get government tenders to improve their public