SWOT Analysis Of Mr Price Swot
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