SWOT Analysis of Workwear Concepts
Strengths
Strong digital presence: The company has a strong digital presence that has enabled it to be able to increase market reach at the same time, reduce the cost of running the business when it comes to marketing communication costs since digital communication is cheaper.
The wide variety of products: Instead of limiting itself to a given product segment, the company has a wider range of products that can be used by both males and females. This makes it possible for it to have a huge percentage of potential customers.
Effective website: In digital marketing, the graphical user interface of the website places a key role in influencing the possibility of sales being made. An efficient website will determine whether the website could be able to leads could be converted to sales; hence the role of the website in this company’s strategy cannot be underestimated.
Weaknesses:
Lack of proper back-end support system. There is a need for a support system in the back end through the use of search engine optimization, which will ensure that the keywords are optimized to an extent one can be directed to the website the moment they click on the optimized links.
The organization does not have an effective marketing campaign due to a lack of proper and effective strategy in blending between the digital and traditional marketing platforms.
Poor pricing strategy. The products are indeed highly-priced despite the fact that the target market is, to some extent, diverse hence high prices may make it impossible for people to make many purchases hence fewer sales.
Opportunities
There is an opportunity to use dynamic selling strategy during holidays and festive seasons as a way of moving or selling the slow-moving products. This will be key since a number of the products are deemed expensive for some of the customers.
The increased income as a result of the better economic performance of the country. Due to the fact that the country is doing well economically with little inflation, then the purchasing power of the people is equally higher hence the opportunity to sell more products.
Threats
Stiff competition: There is high competition from other established fashion and apparel brands such as Gucci and Louis Vuitton. This leads to fewer profits.
Increased operating costs. This has mainly been a result of increased demand for better wages for the employees, which in the long run increases the cost of running the business. In the long run, the company may struggle to breakeven.