One of the first things I done was complete a SWOT Analysis on my proposal in order to identify what the strengths of it are, the weaknesses, opportunities and threats. I want to be able to turn my weaknesses into strengths and turn around my threats into opportunities.
Strengths
- 10th Anniversary - as it's the brand's birthday, it's the perfect excuse to create a huge media buzz and have cakes and entertainment and generally go all out
- Ethically responsible - makes the brand look responsible in comparison with the competitors. Also this is another reason for a PR buzz, not just for the consumers but it will create a buzz in the industry
- Premium jeans brand - the high prices of these jeans are already a given and they already have their loyal followers who expect to pay at least £160 for a pair of MiH jeans so promoting a lusted after item which retails at £200 will not be a stretch for customers. The way in which the jeans are made, the quality and shelf-life of the garments more than justify the price
- British Heritage - the British are proud to be British and British labels are COOL
- Brand Positioning in the UK - due to the very little competition in the UK the brand is in an excellent positioning. Main competitors are US-based brands (J Brand, Citizens of Humanity, Paige Denim)
Weaknesses
- Existing Brand Ethos - I have to make sure I am following the exisitng ethos
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