Wright & Teague SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 806
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SWOT Analysis of Wright & Teague with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Wright & Teague

Parent Company

Partnership of Gary Wright and Sheila Teague

Category

Jewelry Store

Sector

Retail

Tagline/ Slogan

Our passion your heritage; Glamour with gravitas

USP

“The work has a distinctive style and energy suggesting a narrative that connects the wearers’ story with the artistic integrity of each piece to become a potent treasure.”

STP

Segment

Women who love jewelry and love style

Target Group

Working class women and upper class women conscious of fashion statements and wanting to create a style statement of their own.

Positioning

The work has a distinctive style and energy suggesting a narrative that connects the wearers’ story with the artistic integrity of each piece to become a potent treasure.

SWOT Analysis

Strengths

1.Unique and distinctive styling of jewelry inspired by poetry.
2. Use gemstones in the artistic creations to inspire emotions.
3. Also involves a deep rooted spiritual connection to tradition that you can enjoy in any society and gathering.
4. Collaborations and project work with World Gold Council, Gemfields, British Museum, Swarovskiand Oxfam.

5.Offers live workshop which allows customers to see the effort and task that go into making the designs.

Weaknesses

1. The range of jewelry offered is limited compared to other wide ranged jewelry stores which limits the options available to consumers.
2.The prices of items are higher than other jewelry stores which might limit the target group

Opportunities

1. More young working class women professionals living away from home and are fashion conscious. Hence their target group is increasing fast.
2.Increasing purchasing power parity leading to improved lifestyles e.g – more jewelry shopping
3. Expand network, product selection  and reach to people by opening up more flagship stores and subway brands along the lines of their growth strategy currently being pursued.

Threats

1.Robbery attempts and other threats lead to high priority security concerns for property loss as also safety of employees working late into the night since gold is at stake.
2. Intense competition from conventional jewelry stores.
3. Competition laws and lack of large scale development space leading to merger of many jewelry stores.

Competition

Competitors

1. Tiffany

2. H Samuel

3. Beaverbrooks

 


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