SWOT of Quicksilver
Strength
1.Clear Main Product Line - Wave Surf and Snow Wear and its accessories
2.Product Diversification in retail on different categories Clothing Bottoms - tee / woven / outerwear - pants / jeans Accessories - hat / bag / watch / socks / slipper / belt
3. Price Strategy is clear on the available items
4. Retail Store location is convenient
5. Sufficient cash flow
6. New Top management
Weakness
1.Unclear image (mix up swim or sport wear only)
2.Lack of Integrated Marketing Communication activities (such as advertising (TVC / Billboard / Poster), PR/Marketing event, 3.Sponsorship and/or Celebrity Endorsement
4.Lack of Point of Sales (only 17 Stores), however, there are in total 18 regions in HK
5.Wave Surf Market is comparatively small and no Snow Surf Market neither
Opportunity
1.Individual Visit Scheme (港澳個人遊), opened another potential customer base market especially along coast cities
2.Fluctuating rate of currency (CNY vs HKD), Mainland Chinese visitors may increase their purchase
3.HKSAR Government keep promoting Water Sport
4.Increasing of Population and projected visitors
Threats
1.Most competitive in the high penetrated target market on leisure/sports wear such as nike, adidas, Li-Ning, Kappa, K-Swiss, FILA, new balance
2.High cost on production, labour and rent
3.New Sport Brand is going to enter HK (Under Armour)
4.Uncatchable trend
Suggestion
Place some more advertising on some attractive point just as MTR/Tram light box, Billboard on eye-catching building rooftop, especially on the way to the beach even thought made some Sun umbrella
Collaborate with the store located at beachside to decorate a sharp image kiosk
Conduct wave surfing competition
Sponsor movie or TV series to increase the awareness and exposure
Make use CRM tool to measure and analysis loyalty members’ buying behavior and tailor made different special offer
Invite celebrities to the annual/periodical PR / Marketing in event such as new
1.Clear Main Product Line - Wave Surf and Snow Wear and its accessories
2.Product Diversification in retail on different categories Clothing Bottoms - tee / woven / outerwear - pants / jeans Accessories - hat / bag / watch / socks / slipper / belt
3. Price Strategy is clear on the available items
4. Retail Store location is convenient
5. Sufficient cash flow
6. New Top management
Weakness
1.Unclear image (mix up swim or sport wear only)
2.Lack of Integrated Marketing Communication activities (such as advertising (TVC / Billboard / Poster), PR/Marketing event, 3.Sponsorship and/or Celebrity Endorsement
4.Lack of Point of Sales (only 17 Stores), however, there are in total 18 regions in HK
5.Wave Surf Market is comparatively small and no Snow Surf Market neither
Opportunity
1.Individual Visit Scheme (港澳個人遊), opened another potential customer base market especially along coast cities
2.Fluctuating rate of currency (CNY vs HKD), Mainland Chinese visitors may increase their purchase
3.HKSAR Government keep promoting Water Sport
4.Increasing of Population and projected visitors
Threats
1.Most competitive in the high penetrated target market on leisure/sports wear such as nike, adidas, Li-Ning, Kappa, K-Swiss, FILA, new balance
2.High cost on production, labour and rent
3.New Sport Brand is going to enter HK (Under Armour)
4.Uncatchable trend
Suggestion
Place some more advertising on some attractive point just as MTR/Tram light box, Billboard on eye-catching building rooftop, especially on the way to the beach even thought made some Sun umbrella
Collaborate with the store located at beachside to decorate a sharp image kiosk
Conduct wave surfing competition
Sponsor movie or TV series to increase the awareness and exposure
Make use CRM tool to measure and analysis loyalty members’ buying behavior and tailor made different special offer
Invite celebrities to the annual/periodical PR / Marketing in event such as new