Diamond Swot Analysis

• Our product categorization has to make our business look different from our competitors in order to have competitive advantage over competitors in our industry.

SWOT ANALYSIS 0F Men’s wear

STRENGTHS

• Good quality

• Loyalty of customers.

• private labels WEAKNESES

• expensive

• lack of diversity

• lack of product development

OPPORTUNITIES

• Black diamonds

• Product extension

• Product innovation THREATS

• Competition from other retailers

• Substitutes products

• Inflation.

Swot analysis.

STRENGTHS

• Good quality – our product are of high quality in terms of texture and fabric, they last longer which satisfy our customers.

• Loyalty of customers – we have buildup a long term relationship with our customers because of the credit accounts we

• Large variety- The brand offers a wide variety of lifestyle gym wear, footwear and accessories for men, ladies and kids, ensuring that the entire family can be kitted out for a fashionable, energetic and active approach to life.

• Advertising media- our sportswear department has a magazine that goes out monthly to our customers that promotes products.

WEAKNESES

• Private brand versus known brand- well-known brands demands more space within the category, and in-house brand is not allowed to be placed next to a known brand

• Price – our prices are the same as our competitors so we don’t have a competitive advantage when it comes to prices.

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OPPORTUNITIES

• New gym fanatics- there is a lot of people who are starting to live a healthy life style that include going to the gym, and they will buy our products

• Product extension – To introduce new product to an existing brand e.g Creating a new pro action running shoe to compliment the pro action running wear

• Reduce supplier costs- to negotiate for less prices from our long standing suppliers to enable high sales volume and increased

• Chinese products- a lot of Chinese shops are faking our products and selling them on the streets.

• Inflation- Its affecting us because it keep on increasing which affect the buying behavior of our customers which result to decreased in sales volume.

WHAT ISSUES SHOULD THE PLAN ADDRESS AND INDICATE HOW TO DEAL WITH WEAKNESES AND THREATS THAT HAVE BEEN IDENTIFIED IN THE ANALYSIS

SET MARKETING OBJECTIVES PER CATEGORY

MARKETING OBJECTIVES FOR SPORT WEAR

• Be a market leader within 2 years

• To grow market share by 2.5% in core markets

• Increase product awareness in the target audience by 15 percent in 2 years

• To attain constant annual growth of 6% revenue in each year of operation.

• To gain a competitive advantage over our direct competitors in the next five years

MARKETING OBJECTIVES FOR MEN’S WEAR

• To grow market share by 2.5% in core markets

• To gain a competitive advantage over our direct competitors in the next five years

• To be a leader in the market within the next 3 years

• To increase market share by 3% per annum for the next 5 years.

• To increase gross profit by 5% per annum for the next 2