SWOT
STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS
SECTION ONE
LK LONDON
STRENGTHS
Three levels of package services, meaning it caters to brides who want help down to the last detail and to brides who just want a little bit of help towards their wedding dress shopping experience. We cater in high quality materials and the highest level of luxury service. It has a unique selling point in that no other wedding shops provide the package services.
WEAKNESSES
Due to how luxury the brand is and the high level of service we provide, the price points are quite high. We also only have one store and it is by appointment only so customers will have to travel if they live faraway.
OPPORTUNITIES
There is opportunity to expand our business across the UK and open more stores. This would mean it would cater to people from all other the country instead of people from London and surrounding areas as they won’t have to travel so far.
THREATS
Brands such as “David’s Bridal” place threat on my company. This is because these companies are already established and well known in the industry. There are thousands of wedding shops across the UK, so it is important to have a USP.
Change in economy is also a threat on my company as people may not be willing to spend so much money due to the market changing.