Cahoot SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 386
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SWOT Analysis of Cahoot with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Cahoot

Parent Company

Santander UK plc

Category

Internet based Banking

Sector

Finance and Insurance

Tagline/ Slogan

Smart with money

USP

Focused as an Internet based bank

STP

Segment

Internet based banking

Target Group

Young consumers

Positioning

A brand that was based entirely online

SWOT Analysis

Strengths

1. Unique positioning of direct – only access bank combined with customized accounts
2. Focus on data analysis and modeling to fine tune its strategy
3. A strong edge over other brands in advertising and raising its brand awareness in its target segment
4. Wide product variety

5. Close to a million customers

Weaknesses

1. Customers do not find it comfortable in case of cash deposits as they don’t have branches
2. Dependency on technology and security scare among customers is high. The case of power outage in Spain resulted in secure section of website became unavailable which made people frenzy

Opportunities

1. Mobile Banking can be leveraged with the increasing penetration of smartphones
2. Introduction of new products like Faster Payment Service
3.Leverage on the CRM technology  and its increasing benefits

Threats

1. Failing to innovate may result in cause of failure as competition is intense and products are easily replicable by established banks
2. Downgrading of credit ratings of Santander by Moody’s due to financial weakness may increase insecurity among the Cahoot’s customers

3. Increasing activity of competitors can reduce market share

Competition

Competitors

1.Egg UK
2.Barclays
3.HSBC



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