Suffolk Life SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 247
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SWOT Analysis of Suffolk Life with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Suffolk Life

Parent Company

Legal and General

Category

Pensions, Self-invested personal pensions

Sector

Financial Services

Tagline/ Slogan

Working harder for every customer

USP

Suffolk Life is a non-advice pension provider and is well known for its commercial property investment expertise.

STP

Segment

Pension

Target Group

Pension receivers, self-invested personal pensioners ( mostly middle class income people)

Positioning

Emphasis on service offered to every customer. Positions itself as a customer-centric firm.

SWOT Analysis

Strengths

1. Great brand presence due to the history of the firm

2. Enjoys high reputation among people

3. Superior financial strength

4. Actively contributes to corporate social responsibility.

5. Strong expertise in the workforce

6. Charity work has enhanced the brand image of the company

Weaknesses

1. Small business units- so operational issues arise

2. Geographic limitation means lower market share & brand awareness

Opportunities

1. Growing demand- as the economy is growing, this sector tends to grow at almost the same pace. The firm can cash in this new demand by expanding its business.

2. Scope for entering new markets

3. Scope for acquisitions/entering global markets.

Threats

1.Tax changes

2.Macroeconomic policies will influence this sector a lot as people’s consumption and spending changes accordingly

3. Increasing costs due to growing inflation

Competition

Competitors

1.TPI Pension

2. Hargreaves Lansdown Pension

3. Bestinvest Pension

4. Fidelity Personal Investing Pension

5. Alliance Trust Pension 6. Ascentric Pension



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