SWOT Analysis Of Veronica And Warren Fashion Wear Company
SWOT ANALYSIS
Strengths
• Branded Product Line Veronica & Warren Fashion Wear’s products are from legit branded factories, it is a good strategy to have a branded product so that the customers will see your store as a high end clothing shop. V&W include the products like Jag, Lee, Tribal etc. selling branded product can have an immense impact to the business. Consumers prefer branded clothes because of the quality and it is also available in any sizes unlike purchasing clothes from unknown stores unoriginal product line customers most likely to have difficulty in finding their sizes in their chosen apparel. (Online Shopping Solutions, 2015)
• Affordable prices This addresses to the matched prices of the product as of its quality, unlike …show more content…
Expanding to every location will develop V&W’s overall customers and reach more of the target audience therefore it produce area for more sales and revenue all in all.
• Strong relationship with suppliers Due to the scenario that the owner of Veronica & Warren Fashion Wear is the previous secretary of the clothing factory she had made the strong relationship with the company and made it easy for them to open up the business. Supplier plays a major role in the retail industry in fact; a business should always a supplier relationship management to maintain an on road business. Suppliers must be the partners of V&W because the kind of relationship they have with them can influence your success. (Greenlight Technology, 2014)
• Good relationship with customers Addresses to V&W managing their customer relationship, how they keep in touch with their repeat customers and how their contact lists grows every year. According to Kotler and Keller, authors of the book Marketing Management, Businesses find it easier and more efficient to obtain and keep their customers. (Akers, 2015) Monitoring the relationship with customers of a business is one of the important thing you can offer as a business owner. (The Sage, …show more content…
Old through text message and email about the benefits offered by the business. W1O1 Make the store more presentable by changing the atmosphere of the store.
W3O2 Create designs for signboards and posters to increase brand awareness in different areas.
T1Changes in trends.
T2 Rivalry among existing retail shop within the location.
T3Changes in shopping habits.
T4 Decrease in consumer demand.
T5 Decreasing number of customers every June-August. S1T2 Create a tagline that promotes “Branded Clothes” which separates V&W from existing competitors.
S2T5 Change product price during the months of June, July and August.
S5T4 Create good relationship with the customers through email and text message to inform them with latest benefits offered to increase customer demand, W1T2 Change the design of the shop to attract customers and to have more advantage with the competitors.
W2T4 Change shelving system to have a larger space and to also attract customers with an organized shop.
W3T1 Create fashionable signboards and posters to catch the attention of the customers in having a trendy sign that will persuade them to buy at
Strengths
• Branded Product Line Veronica & Warren Fashion Wear’s products are from legit branded factories, it is a good strategy to have a branded product so that the customers will see your store as a high end clothing shop. V&W include the products like Jag, Lee, Tribal etc. selling branded product can have an immense impact to the business. Consumers prefer branded clothes because of the quality and it is also available in any sizes unlike purchasing clothes from unknown stores unoriginal product line customers most likely to have difficulty in finding their sizes in their chosen apparel. (Online Shopping Solutions, 2015)
• Affordable prices This addresses to the matched prices of the product as of its quality, unlike …show more content…
Expanding to every location will develop V&W’s overall customers and reach more of the target audience therefore it produce area for more sales and revenue all in all.
• Strong relationship with suppliers Due to the scenario that the owner of Veronica & Warren Fashion Wear is the previous secretary of the clothing factory she had made the strong relationship with the company and made it easy for them to open up the business. Supplier plays a major role in the retail industry in fact; a business should always a supplier relationship management to maintain an on road business. Suppliers must be the partners of V&W because the kind of relationship they have with them can influence your success. (Greenlight Technology, 2014)
• Good relationship with customers Addresses to V&W managing their customer relationship, how they keep in touch with their repeat customers and how their contact lists grows every year. According to Kotler and Keller, authors of the book Marketing Management, Businesses find it easier and more efficient to obtain and keep their customers. (Akers, 2015) Monitoring the relationship with customers of a business is one of the important thing you can offer as a business owner. (The Sage, …show more content…
Old through text message and email about the benefits offered by the business. W1O1 Make the store more presentable by changing the atmosphere of the store.
W3O2 Create designs for signboards and posters to increase brand awareness in different areas.
T1Changes in trends.
T2 Rivalry among existing retail shop within the location.
T3Changes in shopping habits.
T4 Decrease in consumer demand.
T5 Decreasing number of customers every June-August. S1T2 Create a tagline that promotes “Branded Clothes” which separates V&W from existing competitors.
S2T5 Change product price during the months of June, July and August.
S5T4 Create good relationship with the customers through email and text message to inform them with latest benefits offered to increase customer demand, W1T2 Change the design of the shop to attract customers and to have more advantage with the competitors.
W2T4 Change shelving system to have a larger space and to also attract customers with an organized shop.
W3T1 Create fashionable signboards and posters to catch the attention of the customers in having a trendy sign that will persuade them to buy at