Friends Provident SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 232
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SWOT Analysis of Friends Provident with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Friends Provident

Parent Company

Aviva Group

Category

Life Insurance

Sector

Insurance

USP

Emphasis on best service

STP

Segment

Insurance

Target Group

Individuals of all age

Positioning

Best service provider; competitive pricing

SWOT Analysis

Strengths

1. Friends Provident was the first investment house in the UK to offer a fully ethical investment fund called the Stewardship fund.

2. Sponsored the new Twenty 20 cricket competition

3. Sponsored Southampton F.C. and help finance the building of St.Mary’s Stadium

4. Friends Provident had large offices in a number of locations including Manchester, Clyst St. Mary in Exeter and Dorking, and was the second largest employer in Salisbury

5. Around 6000 employees worldwide

6. Received a lot of protection, pension, investment, and international awards.

Weaknesses

1. Operations through subsidiaries results in lost opportunity for scale economies

2.Intense competition means limited market share

Opportunities

1.Opportunities for adding more subsidiaries to increase geographical reach

2.Wider product portfolio designed to help become one stop service institution

3. Increasing investment in technology to gain a huge competitive advantage by reducing costs

Threats

1.Effects of macroeconomic turmoil that persisted throughout the year

2.Need to protect against insurance frauds and bad debts

3.Economic cycles and government intervention can create significant changes to industry

Competition

Competitors

1.AEGON Life Insurance

2.AIG Life Insurance

3. Bright Grey Life Insurance

4. ESMI Life Insurance



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