SWOT Analysis of Heritage Stores with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
Lifestyle and Retail
A legacy for Life
Unique holistic approach to wellness providing natural solutions to one’s health, skin and hair care needs
Middle , Upper Middle and High income individuals 25-60 years old
People who are conscious of their overall wellness and prefer to go for dedicated, premium, high quality products for skincare, haircare and health
offered quality products for your health, beauty and wellness at affordable prices
1. Extremely wide product assortment ranging from aroma therapy, homeopathy , flower essentials etc. all under 2. All major premium, high quality brands offered at affordable prices 3. One-stop solutions to holistic health care 4. Lack of fierce competition
1. Lack of Brand awareness in other countries 2. Tendency of customers to buy sensitive products related to heath care after physically inspecting those 3. Majorly online business, only 1 physical store “Heritage Natural Market” in Virginia
1. Expansion in the physical store format
2. Resort to media, advertising and promotions to create awareness about the store
3. Rising healthcare sector across the world and consumer’s
4. increased awareness about necessity of wellness products
5. Explore private label brands
1. Rising competition in healthcare sector from physical stores, online heath sites etc. 2. Government regulations related to healthcare 3. High bargaining power of well-known brands suppliers such as Edgar Cayce products, thereby lowering profit margins
1.Local Drug Stores 2.New online websites such as healthkart.com, health24X7.com 3.Wellness stores such as CVS Pharmacy, Melaleuca, HoMedics,Inc etc.
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