Contents
Executive Summary 2
Background of the Company 3
SWOT (Micro Environment) 4
Porters (Market Environment)………………………………………...……………………………………….5
PESTLE (Macro Environment) 6
Strategic Plan 8
Conclusion 9
Evidence of primary research 10
Reference List 13
Glossary 14
Anti-plagiarism statement 15
Anti-plagiarism checking statement 16
Executive Summary
Mr Price Group is a fashion retailer that consists of many different divisions such as Mr Price, Mr Price Sport, Mr Price Home, Sheet Street and Milady’s. They sell mostly for cash and promise the latest trends at the most affordable prices. Mr Price Group does not solely focus on gaining the most profit. They strive to help lessen their impact on the environment by reducing their
…show more content…
Mr Price Group is a fashion value retailer that focuses on offering fashionable merchandise at excellent value. The cash sales are 82.8% of total sales and they are focused on remaining a cash-driven retailer. The Group retails apparel, homeware and sportswear. Mr Price Group strives on value products at low prices and achieves this by lower mark-ups and selling higher volumes. Mr Price Group consists of Mr Price, Mr Price Sport, Mr Price Home, Sheet Street and Milady’s. Mr Price comprises of 60% of the divisional sales of the Group. Mr Price Groups large cash sales will keep them above their competitors and the cash flow will help fund their growth. Mr Price Group also strives on helping grow the community and training people to become more independent. They also do their part in saving the planet and reducing their impact as much as possible on the planet by reducing their carbon footprint. Mr Prices current share price is R177.69 which is much higher than it was in 2012 at R94.34. Mr Price Group is ranked 3rd in the Financial Mail Top Companies …show more content…
Annual Integrated Report. [ONLINE] Available at: http://www.mrpricegroup.com/MRPG/media/MRPG/2016_Updates/FullAnnualIntegratedReport2016.pdf [Accessed 20 Aug. 2016].
• Fastmoving.co.za. 2016. Mr Price Group - South Africa. [ONLINE] Available at:http://www.fastmoving.co.za/retailers/mr-price-group-8. [Accessed 20 August 2016]
• PESTLE Analysis. 2016. Porter's Five Forces Analysis. [ONLINE] Available at:http://pestleanalysis.com/porters-five-forces-analysis/. [Accessed 20 August 2016]
• Business Day Live. 2016. Mr Price plunges on slower sales | Retail & Consumer | BDlive . [ONLINE] Available at: http://www.bdlive.co.za/business/retail/2016/01/18/mr-price-plunges-on-slower-sales. [Accessed 20 August 2016].
• Mr Price - Business Listing, Complaints, Compliments and Reviews - hellopeter.com. 2016. Mr Price - Business Listing, Complaints, Compliments and Reviews - hellopeter.com. [ONLINE] Available at:https://hellopeter.com/mr-price. [Accessed 21 August 2016].
• TrustedCompany.com. 2016. Mrp Reviews and Customer Experiences | Mrp.com. [ONLINE] Available at:http://trustedcompany.com/za/mrp.com-reviews. [Accessed 21 August 2016]
• Investopedia. 2016. What is market capitulation? | Investopedia. [ONLINE] Available at:http://www.investopedia.com/ask/answers/189.asp. [Accessed 21 August
Price is that which is given up in an exchange to acquire a good or service. Price is typically the money exchanged for the good or service. Blue Jays pricing structure is based on the perceived value of the game, the entertainment, the love of baseball, and the action, not just the money.
The main purpose of this report was to evaluate and research the financial information about Priceline during the past five years to evaluate the future developing of the company.
SWOT analysis is a necessary tool for business that allows corporations to analyze where their strengths, weaknesses, opportunities and threats lie. The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success.
According to the annual report of Mark& Spencer, they has been set up 776 stores in the Uk and aim to keep selling high quality ,great value food and staying ahead in womenswear, lingerie and menswear. Moreover, M&S has attributed the high level of trust on the high street, and has also concentrated on ensuring their corporate governance is meaningful, relevant and underpin their decision-marking with high quality in all areas of strategy, performance, responsibility and accountability. Their collective and individual performance review is constructed by honest and constructive feedback to make the border play the biggest role in the boardrom. The goverance framework is also published on their website. Therefore, M&S's shareholders and stakeholders can easily find what standards the board of M&S set for themself.
Hennes & Mauritz (H&M) is a Swedish clothing retail company. The company was founded by Erling Pesson in 1947. The first H&M store was opened in Vaesteras, Sweden in 1947. The mission of H&M is to offer fashion and quality at the best price where “quality includes ensuring that products are manufactured in a way that is environmentally and socially sustainable” (H&M, vision & policy, n.d., para. 1). This essay is to highlight the current market analysis, pricing strategy, retail strategy, and competitive advantage analysis of the company.
Pricing is an important aspect of every business. Chief Financial Officer’s (CFO) use pricing to create financial projections, establish a break-even point, and calculate profit and loss margins (Power Point, 2005). It is the only element in the marketing mix that produces revenue. Price is also one of the most flexible elements of the marketing mix as it can be changed very quickly. This is usually done to beat competitor prices in an attempt to fix the product’s market value position very low (Anderson & Bailey, 1998). After all, high prices make it difficult to become the market share leader. The leading US retailer, Wal-Mart, is an expert at low product pricing as evident in 2004 with $250 billion dollars in sales to their 138 million weekly shoppers. However, they are also responsible for reducing prices so low that it drives specialty stores out of business. This is the effect Wal-mart has had on many toy stores and has almost closed the doors of the famous toy store Toys “R” Us Inc.
Through innovation, they are striving to create a customer-centric experience that seamlessly integrates digital and physical shopping. The company’s strategy is to lead on price, invest to differentiate on access, be competitive on assortment and deliver a great experience. Leading on price is designed to earn the trust of their customers every day by providing a broad assortment of quality merchandise and services at the promised everyday low prices, while fostering a culture that rewards and embraces mutual respect, integrity and diversity. Every day low prices is the company’s pricing philosophy under which they price items at a low price every day so that their customers trust that their prices will not change under frequent promotional activities. The everyday low price is the company’s commitment to control expenses so those cost savings can be passed along to the customers. The company also strive to give customers and members a great digital and physical shopping experience through its three reportable segments; Walmart U.S., Walmart International and Sam’s Club, (Walmart 10-K annual report, pg.
Aho, Karen. "The price of Wal-Mart coming to town." MSN Money Central (2009): 3. Web. 8 Aug 2011. .
issues encountered in exercising price leadership to switch industry practice from a complex structure of differential prices and promotions to a simplified, everyday-low-pricing structure.
(Wikipidia, 2016)Mr Price is a public clothe company based in South Africa. Established in 1885, it has been listed on the Johannesburg Securities Exchange since 1952. The name has been changed several times since 1985. The first Mr Price opened in 1987. There are many stores in many Southern African countries and South Africa.
price as the major decision-making tool for customers (“Global Consumer Electronics”, 2013). This lack of
Priceline.com incurred tremendous success in its beginning years. However, the success story has been put on hold in 2000. Priceline.com is now faced with many critical issues. Recently, Priceline.com has suffered a serious beating from its investors and is now hanging on the edge of survival with both failures from WebHouse Club and Perfect Yardsale. Major areas of concerns, which will be analysed in further details later on, for Priceline.com include: contested patent techniques, poor customer service, need of new brand identity, dependence on travel industry, falling stock price, and fierce new competitors.
The following has been discussed in the document proceeded in order to fully understand Mr Price Group Ltd. Focusing on Mr Price clothing. There is a brief history of the company and the struggle it in counted before become a successful franchise. The successful business is then further analysed using a variety of tools such as SWOT, Porter’s Five Force Model and PESTLE. Once all issues relating to the business are mentioned, strategies are recommended in order for the business to reach full potential. This is all found using primary and secondary resources.
Mr Price Group must enhance sustainable business practices and partnerships in the local market. A good start would be to buy 2 800 tonnes of South African cotton and source over 80.5 million units totalling to R3.5 million from local suppliers.
Price is what a buyer must give up to obtain a product. It is often the most flexible of the four marketing mix element that the price is the quickest element to change. A marketer can raise or lower prices more frequently and easily than they can change other marketing mix