Exclusive Styles Ladies Boutique Term Paper Example | Topics and Well Written Essays - 2250 words

Exclusive Styles Ladies Boutique - Term Paper Example SWOT analysis (alternately SLOT analysis) refers to a method of strategic planning for the evaluation of Strengths, Weaknesses/Limitations, Opportunities, and Threats that are present in a business venture or a project (Humphrey, Albert, 2005). The SWOT analysis for the Exclusive Style Boutique is as follows: Strengths The boutique will have ‘hit-the-trend’ style clothes which will be a big attraction and will present wide variety to the trendy and contemporary style women. The clothes will be affordable and easily accessible to the women across the globe. The clothe range will be diverse with various choices and different fabrics in the product line. Moreover, additional services like salon, cafe and lounges will be available which will successfully position the boutique in the minds of consumers and will build its brand image. Weaknesses Some of the weaknesses that the boutique may face might include the difficulty to manage the product lines, big staff and the store s pace. It may incur high management costs and difficulties in the management of customer services. The growing popularity of the store would require the management to maintain the presentation of its interior and manage the uniqueness of product, style, and fabric. Opportunities The external environment of Exclusive Styles would provide it good opportunities to avail. For instance, it has been a trend that the young population spends more; therefore, the major target population will be young ladies or the working class who prefer to look and wear well every day. In order to create brand attachment and fame, the store will have a good opportunity to get the brands advertised and endorsed through celebrities. Furthermore, the option of choice,... Regarding the tough market competition, the owner of a small boutique mentioned various designers that have already captured the market and have maintained their own customer bases. They have already positioned them so much in the minds of the customers that it becomes difficult for a new business venture in the same industry to deal with the cutthroat rivalry. Besides all other factors, the market conditions, according to her, present an uncertain climate. There is the recession, variations in exchange rates, laws and regulations of trading, higher expenditures, persistently growing inflation and many other factors which may hinder the progress of a business. Not only may this, but a new business struggling to expand and diversify become difficult to be managed and controlled in terms of its scope and human resource base. Thus, the general opinion given by the boutique’s owner stated that the new business ventures in the industry need to be more competitive and challenging in order to cope up with the existing and the upcoming market conditions. After interviewing the owner, one of the employees from the same boutique was enquired about the work management and the viewpoints. According to her, the customers exhibit a good behavior when they are treated with concentration and are given extra services. For a new business venture to be successful, especially a boutique, it is essential that the employees are kept satisfied with good quality products, better after sale services.