Kentucky Farm Bureau SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 251
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SWOT Analysis of Kentucky Farm Bureau with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Kentucky Farm Bureau

Parent Company

Kentucky Farm Bureau

Category

Auto, Home, Condo, Renters, Farm, Boat, Business, and life insurance

Sector

Insurance

Tagline/ Slogan

Voice of Kentucky Agriculture

USP

Committed to serving the voice of Kentucky Agricullture

STP

Segment

Insurance

Target Group

Auto, Home, Condo, Renters, Farm, Boat, Business, and Life Insurance

Positioning

Dedicated to serving as the voice of agriculture by identifying problems, developing solutions and taking actions which will improve net farm income, achieve better economic opportunities and enhance the quality of life for all

SWOT Analysis

Strengths

1. Experienced business units

2. Skilled workforce and experience of the employees

3.Strong growth of the company

4. Membership has soared to more than 500,000 Kentucky families, placing Kentucky among the top

5. A(Excellent) AM best financial strength rating with a stable outlook

6. Kentucky Farm Bureau has established a reputation as an effective advocate for its members.

7. Its information products and member service programs are also well respected and highly successful.

Weaknesses

1.High loan rates are possible, costs  and economic recession affect business

2.Competitive market means limited market share

Opportunities

1.Global markets

2.Growth rates and profitability

3.Improve ratings by working on poorly rated areas

Threats

1. Declining financial capacity

2.Rising costs of raw materials

3.Tax changes  and inexpected problems

Competition

Competitors

1. AMICA

2. GEICO

3. HARTFORD



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