Scottish Friendly SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 269
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SWOT Analysis of Scottish Friendly with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Scottish Friendly

Parent Company

Scottish Friendly Assurance Society Limited

Category

Financial Services

Sector

Insurance & Investments

USP

Ensuring customer receives fair and reasonable treatment at all times is at the heart of everything they do

STP

Segment

Long-term insurance and investment products

Target Group

Urban and Rural Investors

Positioning

We take the security of your personal and financial details very seriously

SWOT Analysis

Strengths

1. The largest mutual life office in Scotland
2. It has nearly 500,000 members and over 1 million policyholders
3. The company has strong assets 
4. Scottish Friendly has five wholly owned subsidiaries

5. Strong ‘Treating Customers Fairly’ culture, which is embedded into the principles and day-to-day activities

Weaknesses

1. Weak foreign operations compared to global firms and has very few employees
2. Alleged complaints against the firm tarnishes image

Opportunities

1. Can introduce more products as per changing customers’ needs and evolving markets
2. Focus on distribution – strengthen the quality of advice and distribution
3. Improved operating effectiveness

Threats

1. Major share of revenue is from home country – risks are not mitigated through diversification
2. Operations in foreign countries are difficult

Competition

Competitors

1. Archstone
2. AXA Life insurance
3. AIG
4. MetLife



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