Ed Williams Mens Wear Case Solution

1. What strengths and weaknesses does Ed Williams Men's Wear (Ed Williams) possess?

Strengths:

Ed Williams has been renowned for offering high-quality menswear fashion to its customers for 20 years and has been profitable ever since. Of all its strengths, its top-quality tailoring service stands out; the customers, whether old, such as Ron, or new, Ron's son, Corey, find themselves satisfied with the quality received and appreciate the value for money. 

Another of its greatest strengths is its loyal clientele since the early years post inception, who frequently revisit the store and bring along their following generations. Moreover, its high-quality service complemented with a high level of personalized customer service adds to the value the customers receive; improving the buying experience, the customers leave the store satisfied and are more likely to visit again. Furthermore, the location of its store adds to its strengths; outside the downtown, high-rent district, Ed Williams can keep competitive prices with decent margins. 

Weaknesses:

While it is a high-quality retailer for menswear fashion, Ed Williams has its weaknesses too. Firstly, it offers only menswear which restricts the market instantly. While offering menswear alone has been very profitable, including womenswear would have helped net profits soar incredibly. Moreover, the products offered have a very high average price point, which could have once been a great market-skimming pricing strategy. However, it further restricts Ed Williams' market: high-income males. In addition to an already restricted market, Ed Williams relies greatly on word-of-mouth promotion, which could lead to a steady decrease in market share and plummeting profits. 

Furthermore, it cannot afford other marketing channels, such as via media. In other words, there is a dire need to improve and invest in better marketing strategy formulation and their respective execution. Lastly, since its inception, Ed Williams has operated in a singular store, the one originally made. To grow, the brand needs to improve its brand recognition, a major means of which could be opening more outlets in more urban areas.

2. What external environmental trends (Threats and Opportunities) will affect the company in the near future?

Threats: